Quick question - Where to find a Cambio

[Lorenzoid]

Not judging but it sounds like alot of trouble to save $8.50 on vacation!

I suppose never having cared too much about the exchange rate when I'm on a week's vacation, being taken advantage of by greedy locals, spending money on frivolous activities, splurging, etc., is why I will never save up enough pennies over my lifetime to be "wealthy." But I do enjoy fairly stress-free vacations.

 

[nodakdive]

Yeah, that does suck. Wells Fargo would charge me $117.40 including delivery for that many Pesos, while the Google straight exchange rate would be $95.77 if no one wanted to make a profit in business, but they all do. Since you only want half that much, it's even less worth the trouble & expense.

A local exchage would indeed work better for you if you can find one, and maybe that CIBanco that Nodakdive found for you will work - except that expenses in that area are probably ridiculously expenses so you may still get a crappy rate. All in all, maybe not worth the trouble there.

But not many. Maybe $5 worth when he's done.

Hmm. I suspect that CIBanco may be the bank he doesn't want to use in the retail area he mentioned? I should have left this alone and would have if it weren't for the explanation of why he wanted to exchange $40-$60. The original post was classic, and I don't have an excuse for not knowing better than to respond.

 

[gopbroek]

He can use a debit card at the bank there as I guess they have an ATM, and I would never want to leave the boat without my card - just in case.

If he goes that option it would be interesting if he would report back how much his bank charges him in fees (in any) and the exchange rate for the withdrawal. As often as the question of ATM usage comes up it would be kind of nice to know what the various US banks are charging their customers for accessing their money in Mexico.
As for the local ATM charges I have seen:
Banamex: approx. 30.5 MXN
Santander: approx. 30.5 MXN
Scotiabank: approx. 60 MXN
HSBC ?
CIBanco ?
BBVA Bancomer?

 

[flyboy08]

I took money out of our hotel...the Occidental ATM machine and they charged my $10bucks! But I get 100% of all fees back from Schwab...I just wanted to see if they balked....nope, I got it back.Last month, I just grabbed Pesos at the grocery store....I love going to that grocery store

 

[mikeycanuk]

Banamex: approx. 30.5 MXN
Santander: approx. 30.5 MXN
Scotiabank: approx. 60 MXN
HSBC 33.35MXN
CIBanco ?
BBVA Bancomer?

 

[Christi]

I'll be coming into Cozumel on a cruise ship on the 18th, and I really don't want to pay the "Tourist Rate" for taxis, etc. But I just checked my dive wallet, and only have 27 Pesos left from my last trip. Does anybody know if there is a Cambio in the International Pier compound? Or across the street in that retail center? Somplace I can quickly get $40-$60 worth of Pesos? No, I do NOT want to use my Debit Card, because Bank of America will use its own exchange rate, currently 18.22 to the Dollar (AWFUL!), plus charge me ATM fees. And I do NOT want to know about the Bank in that retail center, because I am not going to carry my Passport all around Cozumel. JUST THE LOCATION OF A CAMBIO NEAR THE INTERNATIONAL PIER, PLEASE.

There is a cambio in Royal Village across from the International pier

 

[DjDiverDan]

Several commenters have noted that I need my Passport to change money at a Cambio. It's been a few years, but that never used to be the case. I almost always just brought cash, and made one or two trips to Banks (usually Scotia Bank) to get $500 worth of Pesos for a week's stay. I knew I needed the Passport to exchange at a bank, but Cambios, offering a less favorable exchange rate, were more convenient because I didn't need to schlep my Passport everywhere. Have the rules changed?

BTW, thank you Christi.

 

[mikeycanuk]

99% sure you can’t exchange foreign cash at a bank anymore, passport or no passport. We waited inline for 30 minutes at a bank in Coz only to be told to go around the corner to the cambio last year.
Talk about a crap rate.

 

[DandyDon]

HSBC 33.35MXN

What is this? The ATM fee? They have an ATM half a block from my hotel, so that's handy - if I remember to tell my bank that I will be using it in Mexico before I go this time! (Just added that note to trip calendar.)

What is their limit for daily withdrawals? I think my bank charges me 3% conversion so not always worth it, but for taxis - Yes! My hotel is booked in Pesos and charges a credit card fee, so maybe there - as well as meals.

 

[scubafanatic]

Not judging but it sounds like alot of trouble to save $8.50 on vacation!

for some people, the value they derive from proving a point exceeds the actual $ value at stake and the time value in labor hours invested in 'outsmarting the system'.