What is happening with Exchange Rates?

[DjDiverDan]

For anyone interested, There is a bank (CI Bank?) in the new Shopping Center immediately accross from the InternationalPier, in the section furthest south, close to the corner. On Wednesday it was offering 13.1 Pesos to the Dollar. I decided to change just enough for dinner & a few taxis, since Casa Del Mar was only offering 12.5 Pesos to the Dollar. I saw the rate posted at Scotia bank on Wednesday, 13.5, so planned on stopping there after lunch on Thursday. By the time I got there Thursday Afternoon, it was 13.75 to the Dollar. Still going up.

 

[Skittl1321]

Lorenzoid- where do you get panuchos?

dave- how did an ATM cost you $1000? What happened?

 

[Dave Dillehay]

Dear Skittli,

A few years back I went to Mega for groceries and used one ATM machine. It took my password and after it asked me how much I wanted (3000 pesos), the screen flashed "Not able to dispense cash at this time". Then I went to the adjacent machine and got the same result. I thought it odd, but didn't worry about it, maybe the machine was out of cash?

Well several months later when I got back to the states and saw my Wells Fargo statement there were many 3000 peso charges from both ATMs over several days. I forget which Mexican banks owned each machine. The bottom line was that I protested those charges ( over $4000 US) with Wells Fargo who negotiated with the Mexican banks. The only charges I could get removed were obvious ones, and I ended up about $1000 lost.

Several years ago I posted this in great detail on Scuba Board. I don't know which regulars will read this but they all should stop suggesting that the in store ATMs are safe. They are not!

Dave Dillehay
Aldora Divers

Bienvenidos - Aldora Divers | Only the best of Cozumel

PS I have found the C I Banco (bank) locations to be convenient and safe.

 

[Roman_66]

This is why I take some $ in small notes, about 40-50$ per person per day + $100 note for emergency case, keep it in hotel safe and use credit card only in one place - known dive center. Of cause I have CC with me, but for real-real emergency.
Where exactly "new Shopping Center" ?

 

[Dave Dillehay]

There is a new shopping center just across the street from the International Cruise Ship Pier (the old original one), and El Cid/La Cieba Hotel. This is about 5 miles south of the town square. There is also a large C I Banco branch at ave 65 and Calle 11 that I use. Plenty of parking at all times and very safe.

Dave Dillehay
Aldora Divers

Bienvenidos - Aldora Divers | Only the best of Cozumel

 

[cvchief]

I use my Rapid Reward card everywhere that seems remotely safe. I need the airline miles, so Ill risk it. This was my ONE chance at that companion pass with my 50K bonus and I am NOT going to make it!

 

[djanni]

I have been ripped off by ATMs at BOTH Mega and Chedraui. Beware

Dave Dillehay
Aldora Divers

For 28 months now we've gotten our pesos at Mega, occasionally at Chedruai and we've never had a problem. Same exchange rate as the banks. We us USAA for our US back and they pay the ATM fees. Quite a deal huh?

To the OP, the street side ATM'S charge am arm and a leg an usually you can only get USD from them.

 

[DjDiverDan]

Jst FYI, I got 13.90 Pesos to the Dollar at Scotia Bank yesterday.

 

[Skittl1321]

One problem we've had with ATMs is they dispense 500s and no one will take them! Even Mega wouldn't... Said they had no change.

Weve be managed to break them when having large dinners, but I ended up going to the bank to ask for smaller bills.

 

[DandyDon]

Jst FYI, I got 13.90 Pesos to the Dollar at Scotia Bank yesterday.

That's about 97% of today's Google rate ofr 14.38. WSJ is only 14.4. Nice exchange.

One problem we've had with ATMs is they dispense 500s and no one will take them! Even Mega wouldn't... Said they had no change.

Weve be managed to break them when having large dinners, but I ended up going to the bank to ask for smaller bills.

I read you saying that before. That's only $35 USD worth. Sounds odd. I avoid $100 bills even here, but a $50 should work almost anywhere.