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Do You Buy US Dollars?


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I pay my rent in US dollars. I used to fiddle with banks, always feeling things were a tad expensive. I will share with you dollar buyers by today's purchase numbers what I believe worth a try. I buy dollars at the Casa de Cambio, one door west of the main stoplight in Chapala.

Withdrew pesos at Santander bank and my rate was 20.3837 net after fees. Then a couple doors east to buy dollars without showing an identification at 19.7. Tell them Angus sent you.

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I have used this same hole in the wall money exchange for several years.  Traded my dollars for Mexican pesos and received a better rate than most of the banks.  Santander gives an excellent exchange rate for US Dollars so I finally opened an accounr.  They told me I had to wait 6 months before I could bring dollars to them and get pesos.  However I could have money wired from my bank in US to them and they would deposit this money in pesos. I had money wired and it went into my account the same day.  I now check daily to see what rate the mexican  banks are giving for dollars and Santander is usually one of the top two.  In looking at bank rates I don't understand how some banks are paying more for US dollars than other banks are selling them for?

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On 6/13/2018 at 12:49 PM, AngusMactavish said:

I pay my rent in US dollars. I used to fiddle with banks, always feeling things were a tad expensive. I will share with you dollar buyers by today's purchase numbers what I believe worth a try. I buy dollars at the Casa de Cambio, one door west of the main stoplight in Chapala.

Withdrew pesos at Santander bank and my rate was 20.3837 net after fees. Then a couple doors east to buy dollars without showing an identification at 19.7. Tell them Angus sent you.

I would never pay rent in another currency than Pesos, any landlord who asks for USD in rental agreement is kind of not doing what the law prescribes.

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5 minutes ago, joco69 said:

I would never pay rent in another currency than Pesos, any landlord who asks for USD in rental agreement is kind of not doing what the law prescribes.

Gosh, do you think they are tax dodgers?

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7 minutes ago, joco69 said:

I would never pay rent in another currency than Pesos, any landlord who asks for USD in rental agreement is kind of not doing what the law prescribes.

Newbies constantly make the same old mistake. Mexican law recognizes a contract in any currency that was freely negotiated between the parties. The party paying has the legal right to make payment in pesos at the current exchange rate. The other party has the right to quit doing business with the other fellow when the contract is finished. But by all means, stand up tall and assert your legal rights, lol.

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Any language, too. This "all leases must be written in Spanish" is also wrong. Contracts may be written in any mutually agreed upon language and only need to be translated into Spanish in case of a dispute and the courts or arbitration are called upon to decide that dispute.

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3 minutes ago, Al Berca said:

Any language, too. This "all leases must be written in Spanish" is also wrong. Contracts may be written in any mutually agreed upon language and only need to be translated into Spanish in case of a dispute and the courts or arbitration are called upon to decide that dispute.

Yup!

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14 hours ago, Al Berca said:

Any language, too. This "all leases must be written in Spanish" is also wrong. Contracts may be written in any mutually agreed upon language and only need to be translated into Spanish in case of a dispute and the courts or arbitration are called upon to decide that dispute.

Tell that to the foreign lady who had a contract with her Mexican landlord (for a matter OTHER than rent) written in only English.  He spoke perfect English and had lived for years in the US.  When he refused to honor the contract over a period of more than 2 years, she took him to court.  Result?  Judge threw it out because it was only written in English, and Mexican party said he did not understand fully what the contract said.

If you think this could not happen to you re: rental contract -- you are kidding yourself big time! Because by the same token, in case of a dispute over the rental contract after the fact,  any Mexican is perfectly within his rights to use that same excuse -- and if the contract is translated after the fact he could say that was not his understanding of the original English lease.  And since Spanish is the official language of the country.........

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15 minutes ago, Natasha said:

And since Spanish is the official language of the country.........

 
Capital
and largest city
Mexico City
17px-WMA_button2b.png19°26′N 99°08′W
Official languages
Recognized regional languages National language Spanish (de facto)
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The USA also lacks an official language. However, there is a requirement, by treaty, that assures the continuation of Spanish culture and language in the USA after it absorbed half of Mexico and the people in it, who speak Spanish to this day.

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39 minutes ago, RVGRINGO said:

The USA also lacks an official language. However, there is a requirement, by treaty, that assures the continuation of Spanish culture and language in the USA after it absorbed half of Mexico and the people in it, who speak Spanish to this day.

That is funny ! Don't you think something like that treaty condition is moot, after 170 years! If Mexico does not respect decisions by the US on handling the US Border, how could they EVER expect the US to respect such an obscure condition from 170 years ago. HA !  BTW, that condition was ONLY for those Mexicans living in the territory (about 500 verifiable ), and for NO OTHERS. Prove you are a descendent !  :D

 

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