diver 85
Contributor
It's a 3rd world country---more or less.......
What is happening with Exchange Rates?
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When in Cozumel I am on vacation. I use the ATM at Mega for pesos. If staying at Hotel Cozumel I have had them exchange some $ for pesos. If I remember correctly it was at what seemed to be a reasonable exchange rate. Like everything, it is what one perceives as the value. My vacation time has value. I don't wish to be screwed but also understand that there is a trade off in the time it takes to find the best exchange rate and generally don't mind paying for the convenience of not having to look all over trying to find it. I would rather be diving or enjoying a cold cerveza than trying to find the best rate of exchange.
I did not suggest that there is no significant difference between 10:1 and 14:1. It was 13.5:1 and 14.1:1.
Mega has in the past taken USD at close to the "official" exchange rate.
ATMs give you close to that rate.
Given the choice of paying $10 USD for a taxi ride or 100 pesos (whether acquired at 13.4:1, 13.8:1 or 14:1), I will pay 100 pesos.
Mega has in the past taken USD at close to the "official" exchange rate.
ATMs give you close to that rate.
Given the choice of paying $10 USD for a taxi ride or 100 pesos (whether acquired at 13.4:1, 13.8:1 or 14:1), I will pay 100 pesos.
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10:1 was about the official rate when I started going to Coz...
But then I remember the news about the change from the old MXP to the new MXN: Mexican peso crisis - Wikipedia, the free encyclopedia
But then I remember the news about the change from the old MXP to the new MXN: Mexican peso crisis - Wikipedia, the free encyclopedia
mediumone
Contributor
Any ATM on the "approved list" will meet your criteria, and yes, I agree. If I first come upon a Santander bank, and I remember that their total fees for a $5,000 withdrawal are 31.32 pesos, I'm sure as hell not going to go on a hunt for a Scotiabank ATM that will only charge me 23.31 pesos for the same $5000.00 peso withdrawal.
By the way, the above fees are the actual fees --- I have my receipts --- which does indirectly answer the question "Where's the best place to get pesos"?
an extra 2 bucks isn't worth much of a search on a $350 withdrawal. Maybe walking a block, and that is if I am aware that it is gonna save me a couple of bucks. Otherwise it just isn't worth it. Searching for it takes time. You of course are welcome to do whatever you like.
YMMV
Back to the OP, the exchange rate is changing making a trip to Coz even less expensive. My first trip to Coz the exchange rate was around 13. Good value for US tourists for certain.
YMMVBack to the OP, the exchange rate is changing making a trip to Coz even less expensive. My first trip to Coz the exchange rate was around 13. Good value for US tourists for certain.
mediumone
Contributor
an extra 2 bucks isn't worth much of a search on a $350 withdrawal. Maybe walking a block, and that is if I am aware that it is gonna save me a couple of bucks. Otherwise it just isn't worth it. Searching for it takes time. You of course are welcome to do whatever you like.
Apparently, I'm going to have to work on my grammar and syntax a little. I was agreeing with you.
I misinterpreted your post. Sorry. 
Apparently, I'm going to have to work on my grammar and syntax a little. I was agreeing with you.
I agree that it is not worth the effort to get a small amount of difference in rates. But don't miss my point about street ATMs or even the ones at Mega. A few years back the ones at Mega cost me about $1,000 US which I never got back from Wells Fargo!
Dave Dillehay
Aldora Divers
Dave Dillehay
Aldora Divers
Yeah, I decided to write "$15" to put my example on what I'd consider the high end for dinner in Cozumel. I'm perfectly happy with what I can get for $10. And lunch?--a couple of salbutes or panuchos and I'm a happy camper for practically pennies.
"Ripped off" is not how I feel when I get a poor exchange rate in Mexico--it's how I feel when I pay for meals/lodging/etc. here in the US!
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