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Discussion Groups: Finances and Investing


Topic: Pesos
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VTB

2/13/2017 1:44:49 PM
Member since:
May 2011
Total posts:97
Pesos

Short time to get some pesos in Brandon, does he anyone know where? My credit union can''t get them until next week, and we will be gone by then. Trying the banks, but cant get past the automated machine on the phone.  
 
Edited by VTB, 2017-02-13 13:45:50

CG42

2/13/2017 2:02:25 PM
Member since:
Mar 2010
Total posts:392
Few options

1. Try other banks. I''m sure RBC is 3 business days and Scotia may even be 2 business days. I keep entering ''0'' until I get a human being.#hate automated answer services  
2. Airport, depending where you are flying from, you could probably get some there.  
3. Depending on where you are heading, you could take US dollars, which most banks here keep. I believe a lot of places in Cancun will accept USD, but the rate may be high.  
 
Edited by CG42, 2017-02-13 14:03:41

silverhoarder

2/13/2017 2:30:27 PM
Member since:
Jul 2015
Total posts:37
pesos

a couple of years ago we were in Peurto Vallarta and our contact told us not to exchange for US dollars before we left as we saved one exchange and bank charges just by exchanging our Canadian dollars right at the resort. Maybe depends where you are going though. I have a few pesos for sale .(150)

VTB

2/13/2017 3:48:04 PM
Member since:
May 2011
Total posts:97
Thanks

For the tips.  
 
Silverhoarder, sent you a PM.

Megz36

2/13/2017 3:48:42 PM
Member since:
Aug 2013
Total posts:40
online

When I worked at a financial institution we used to use Travelex. Turn around time was 1-2 business days. I just checked their website and I see they now ship to individuals. Www.travelex.ca  
I have never used them on a personal bases but might be what ur looking for!

RT Holdings

2/13/2017 4:20:03 PM
Member since:
Sep 2016
Total posts:142
Pesos

Don''''t get pesos here before you go, that's a terrible idea. Unless you know how much you are going to need you may end up with too much and the rate won't be as good.  
 
Take US cash and either exchange it at the bank (you'll need your passport) and get the current daily rate. Or you can use the numerous money exchanges all over the place. Just make sure you know the rate before you go, can use xe.com to get an idea of the rate.  
 
You can also just use your debit card at the ATMs you won't get as good of a deal as your bank usually will convert your money to US then pesos so you will lose a bit in the conversions and foreign currency fees. Just make sure the symbols on the back of your card match the machine but most will.  
 
You can exchange at your resort but you will get a crappy rate (usually) as they need to make a little bit for the service. Best bet is always the bank. Do a couple hundred at a time and that way you wont be stuck with a pile to bring home. And you are always best exchanging US$ they don't want Canadian dollars, but they will take them! Off resort you are always best using local currency as they will round up if you strictly stick to spending US$. In fact most places that have their prices in US are usually a rip off anyways. Good luck and enjoy the sun!  
 
Edited by RT Holdings, 2017-02-13 16:27:05

*C*

2/13/2017 4:48:10 PM
Member since:
Jan 2009
Total posts:175
CAA

You can order currency at CAA.

Queen Bee

2/13/2017 4:50:13 PM
Member since:
Feb 2006
Total posts:16
Peso

Hi I have Pesos.I sent you a private message. Please contact me if you are interested.Thank-you Linda

Gof

2/13/2017 7:57:56 PM
Member since:
Mar 2014
Total posts:25
Don't take US cash. Don't get it at the airport!!

Try to get a little bit from your bank then use ATM's down here from a bank you recognize I use HSBC and the only charge 33 pesos for the transaction and my bank in Canada adds $5 can also. Credit cards are also welcome more and more on the main streets. If you plan on shopping in places like Playa de carman then you will be better off with US cash but off the beten track you will be way ahead to have Passos.

aBUFAmember

2/14/2017 1:32:31 AM
Member since:
Nov 2011
Total posts:86
ATM

Used to be that taking US$ was a little better, but that doesn't seem to be the case any more (at least in my recent experience). Just get your hands on enough pesos to get you from the airport to your hotel/resort, and maybe a first meal and a few tips. After that, just use a local ATM. Just be sure it is a reputable bank. HSBC is good, and depending where you are, there are Scotiabanks down there too. Or use one of Mexico's national banks (e.g. Banco Azteca). As long as you take out at least a couple hundred dollar's worth at a time (so maybe around 3,000 pesos), I've found that accounting for all the bank fees and exchange worked out to pretty much what you'd pay at a cambio anyway. And no need to keep a pile of cash on hand or in your room/safe.

Bob43

2/14/2017 9:28:31 AM
Member since:
Aug 2008
Total posts:252
Not Travellers Cheques

Whatever you do, don't take travellers cheques. You won't be able to cash them. Even Scotiabank in Puerto Vallarta wouldn't take American Express Travellers Cheques in Canadian dollars.

LoadedGun

2/15/2017 7:26:54 AM
Member since:
Oct 2011
Total posts:143
Get them here

If your bank card isn't compatible with the Mexican banking system. Which I'm sure a majority of Credit Union's are. You should make sure and bring the pesos with you. RBC had thousands of pesos ready for me in days after I requested my order. I wasn't in rush, or I'd be able to tell you how quick it was. But I'll say, it was really fast.  
 
Honestly, the peso exchanges on the streets in Mexico are awful. The airport exchange booths are even worse. Bringing USD only means you stand to take a loss over two exchanges. Plus, if you're paying with USD they always have a 'special price' for you. Bring pesos.  
 
RBC will accept any paper notes back upon return. So, give whatever coin you've got left to a local before you leave. Or tip the maids.  
 
And don't forget to be kind.

silverhoarder

2/15/2017 1:18:21 PM
Member since:
Jul 2015
Total posts:37
pesos

Sent you an inbox message

aBUFAmember

2/15/2017 7:40:58 PM
Member since:
Nov 2011
Total posts:86
Credit Union cards

  
LoadedGun said "If your bank card isn't compatible with the Mexican banking system. Which I'm sure a majority of Credit Union's are. You should make sure and bring the pesos with you. RBC had thousands of pesos ready for me in days after I requested my order. I wasn't in rush, or I'd be able to tell you how quick it was. But I'll say, it was really fast.  
 
Honestly, the peso exchanges on the streets in Mexico are awful. The airport exchange booths are even worse. Bringing USD only means you stand to take a loss over two exchanges. Plus, if you're paying with USD they always have a 'special price' for you. Bring pesos.  
 
RBC will accept any paper notes back upon return. So, give whatever coin you've got left to a local before you leave. Or tip the maids.  
 
And don't forget to be kind. "

Actually, local credit union cards work find down there. As I said before, just go to a reputable bank's ATM. Look for the Cirrus or Interac symbol (it will be on your card, and on the machines you want to use). I bank at a Credit Union here in Brandon and no longer take any cash with me (just enough for the first cab ride and tips).  
 
If you do have CAN$ with you, the peso exchanges on the street are hit and miss. Some are better than others, and they all post their prices, so you can 'comparison shop' a little, but rates are never great. But I wouldn't call them 'awful'. They definitely are better than the airport.

Kellye

2/15/2017 9:08:48 PM
Member since:
Dec 2013
Total posts:500
Pesos

Agree with aBUFAmember's posts. Just an additional note, be sure to notify your bank/CU here of your travel plans.  
 
Lots of Scotiabanks down there, but a friend of mine once forgot to notify the local financial institution here and the card was red flagged and locked until it was straightened out with the bank here which was a bit of an inconvenience. If you can, stick with the big, national banks, stay away from generic ATM's in Stores and airports if you can. Better exchange rates with the big ones.  
 
Safe travels.

VTB

2/16/2017 8:37:58 AM
Member since:
May 2011
Total posts:97
Thanks

Got enough here to get me started, will hit the main banks down there.  
 
ebrandon - it's like our own local wiki for info!

 
 
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