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CHANGING MONEY


pbopp

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You don't say if you are here or coming here.

If you are coming here, ATMs are the best deal. Make sure that your bank knows that you are coming and see if they will increase your daily rate of withdrawal.

Credit cards and debit cards are rarely used here

ATM cards are the easiest and usually the most convenient to use and give the best exchange rates. Check previous threads for discussions about which banks do not charge extra fees for foreign transactions. Some caveats on ATM use: I would recommend only using ATMs that are in banks, and then only in banks that are open for business. Sometimes the ATM will run out of money (remember this is Mexico) and nothing will come out, but your account will still be charged. Don't keep putting your card in, thinking that maybe it just didn't work the first time. You will be charged each time, even if no money ever comes out. You will have to call your bank back home and have them adjust your account. Make sure to keep any receipt that comes out in case your home bank needs proof of the failed transaction.This doesn't happen a lot, but it is very inconvenient when it does. It is easier to deal with the situation if the bank is open and the machine is not a stand alone device. Also, crooks sometimes put scanners on stand-alone machines so they can hack your account. Beware of any machine that has anything attached to it that doesn't look at all right. Better safe than sorry.

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i have used US credit cards & US debit cards for many purchases for over 10 yrs. (some restaurants, pharmacy, chain stores, i say this as it conflicts w/some of the posts). i would never ever use a machine to get cash. i did do this years ago visiting. i would not do that now, it is not safe. as for changing dollars to pesos, i would not know how to do that w/out a bank acct. there must be a way, since people visit all the time. the other memebers know that info.

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Bennie,

With all due respect, I have used bank cards all over the world for more than 20 years to obtain local currency from BANK ATM's to get the most favorable exchange rates. Zero problems.

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I agree with Tom that ATMs are the most cost effective and safe means to get local currency. I too found an ATM in the Nairobi airport to get shillings, pounds at Heathrow, pesos in Argentina and Chile and plan to get rubles at Domodevo Airport later this year, Euros in Finland and Estonia and even some lats in Latvia.

Cash is always good as a backup if you can't readily locate a machine or for some reason networks block transactions as happened many years ago in Chile.

Back in my working days I was a software developer and spent most of those years writing and re-writing ATM authorization software for US credit unions. While things have gotten extremely complicated over the last 10 years, the process is very stable with a lot of redundancy. I'm still amazed at how fast a transaction is authorized from half way around the world knowing what takes place between the time you press Enter finalizing your request and the time the machine starts dispensing cash.

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tomgates, after reading dozens of posts on this forum, the "other" forum, & lakechapalacrime (they had a special report on thier home page as well), i have to stay w/this opinion. last year there were about 30 machines (w/in a few months) that were compromised. that dosnt even count guadalajara. they were lucky in this case to get the right amount of cash. as for restaurants, many take my credit cards & US debit. tango new posada chapalareale hotel guad pharmacy mi mexico boutique. i even heard torittos does as well. tiny stores do require cash.

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I like the ATM near Dominos near WallMart. They have a 24 hour guard near it. I use two different credit cards there and get funds all of the time, once to twice per week, and have never had a problem. Yes I go on line and check my balances.

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Not anymore. I've made several withdrawals lately at the Plaza Bancomer for 22.62 pesos. Not sure when they changed their rate.

This is wonderful news! I like using that ATM but refuse to pay that 69 peso commission. That was crazy!

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I like the ATM near Dominos near WallMart. They have a 24 hour guard near it. I use two different credit cards there and get funds all of the time, once to twice per week, and have never had a problem. Yes I go on line and check my balances.

That would be the Scocia Bank ATM and it is a swipe machine rather than a eat your card type machine which is good.

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The ATM between Hernandez Realty and Dominos, just east of Walmart is an excellent place to get your pesos.

As Johanson said above, there is a guard there 24 hours/day, although the guard works for the Storage place not the ATM.

But the ATM can't eat your card, has no fees if you are using a Bank of America debit card, and is in English.

Generally it is kept full, but on occasion it will run out of money, mainly fiesta weekends.

Have only had 1 incident when it did not give me money and charged my account, but 1 easy call was all it took.

B of A credited my debit card with the amount and told me they would have an audit done within 45 days.

Which they did and said it was a machine issue.

Intercam is also a good place to change your dollars into pesos. There are limits, but they are very nice there.

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Look at a Bancomer card or a scocia bank card from Canada. They have chips in them on the front lower left side. US bankcards still use the strip on the bank to identfy. Machines have to be able to read both types of cards. I find chip cards more reliable than swipe cards.Some bank machines down here eat your card just like US banks but if something goes wrong on these machines you won't get your card back as Mexico banks don't return them. So the Scocia bank atm by Dominoes is very safe as it can't eat your card and a guard is around 24/7/365. So nothing to be alarmed at just different that is all.

I only use swipe ATMs. My Banamexusa/Citibank ATM has no charge in Mx, or the USA. I also opened a savings and credit card with Cap1, as they have no foreign transaction fees anywhere in the world.

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