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Cambio rate

Mankato, Minnesota
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1,776 posts
103 reviews
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Cambio rate

I know that ATM's are the best and I'm a firm believer, but I have a couple people in my group that want to bring down USD to exchange. Can anyone tell me what the exchange rate is at the cambios so I can lay out the savings of using an ATM vs cambio? I checked and they can get prepaid credit cards at our local banks so all I need is the information for the cash option.

Thanks it's much appreciated.

Boise Idaho
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779 posts
6 reviews
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1. Re: Cambio rate

Rates vary day by day and cambio to cambio. Tell your friends that they will lose money every time they use a cambio. The best way to change money is to

1. Tell your bank you're going to Mexico. Give them the dates.

2. Use your bank's debit card (NOT a credit card) to get pesos from an ATM

3. Take out as much as you can each time. You'll pay the same fee whether your taking out $50 or $400.

4. Remember, when the ATM offers you a list of amounts, its talking about pesos, not dollars. If you withdraw, for example, "300", you'll receive 300 pesos (about $23 US dollars)

Chicago
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1,107 posts
5 reviews
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2. Re: Cambio rate

Why not credit card?

Vancouver BC
Destination Expert
for Vancouver
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8,992 posts
186 reviews
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3. Re: Cambio rate

To avoid a cash advance against the credit card.

Huatulco, Mexico
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1,613 posts
11 reviews
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4. Re: Cambio rate

I do not use credit card because the fees are higher

Wayne Overby

Villa Sol y Mar

(House of the Sun & Sea)

Mankato, Minnesota
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1,776 posts
103 reviews
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5. Re: Cambio rate

Thanks for the clear information regarding an ATM transaction, and you're preaching to the choir. The question they have is how much am I loosing, which would be easy to answer with a cambio rate to compare to the current XE exchange rate of 12.7188.

I love to travel and the convenience of an ATM, nothing and no one would get me to use anything else. But there is always someone out there passing on the identity theft or mugged at an ATM stories.

Actually the personal banker at my non national affiliated bank yesterday made me feel like a criminal for wanting to use my debit card. She was handling all the fraud claims of the week end and lamenting about all the money they are going to lose. I'm not easily intimidated and asked her if my name has ever been on that list in the over 40 years I've had an account with them. "Well I suppose yours will be okay when will you be gone? I'm not sure we can raise the daily limit, I'll have to check with a VP." I guess I need to organize a fund raiser for my "poor bank".

Anyone in Huatulco now that can just post the number? I'd really appreciate it.

Ukie if you use your credit card for a cash withdrawal at an ATM you usually get charged interest on it immediately. Unlike a purchase which has a grace period of until your statement is due. Also most of my credit cards have a higher interest rate for cash withdrawals.

That's why I was looking into the prepaid credit cards at the bank. It's not tied to your real account so the only thing you are risking is the cash you put on the card.

Cleveland, Ohio
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1,286 posts
4 reviews
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6. Re: Cambio rate

We have a "Vacation Debit Card" that is not tied to our other accounts and always take a couple credit cards that do not have foreign transaction fees for emergencies.

We used to take USD down and exchange at a Bank for pesos, but stopped doing that after discovering what a hassle it was.........

You need to get a taxi, take several ID's, wait in line for a LONG time, sometimes you are limited to how much you can exchange at a time, making it necessary to waste more vacation time and do it all again.

Not a fun way to spend your time.

victoria, bc
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1,813 posts
7 reviews
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7. Re: Cambio rate

Why bother with micro-managing your travel companions finances??? If the choose to not see the rationale in the loss of exchange rates then the Winners are..... the locals!

Mankato, Minnesota
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1,776 posts
103 reviews
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8. Re: Cambio rate

Is there anyone in Huatulco right now? Please hit reply type in the rate exchange posted at a cambio for USD please.

Not sure why an example with actual numbers should be so hard to do? If someone asks a question, why would answering it be micromanaging? It started out as my travel buddy, but now that I can't obtain the information my husband is sure the savings is in my head. I'm the only person on this forum with analytical/ mathematical/ scientific type minds?

The question I'm trying to answer is what is the savings of using an ATM instead of cambios. We already know there is one and that they are more convenient. If there is a problem with phone lines or other electronic issues, cash at a cambio would still be an option. (According to the "least helpful personal banker in the world" that I dealt with on Monday.

Huatulco, Mexico
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1,613 posts
11 reviews
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9. Re: Cambio rate

Jenny

the exchange rate at banks (there are no cambio booths in Huatulco)

Changes every minute

About 10 days ago it was 12.64

Please reread what Ponchos wife states about the process of going to the bank

Wayne Overby

Villa Sol y Mar

(House of the Sun & Sea)

Huatulco, Mexico
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2,051 posts
34 reviews
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10. Re: Cambio rate

Jennie, Wayne is correct and the rate has been hovering around what he posted for some time. Whatever the rate is today may have no bearing on what is will be when you arrive in Feb.

Suggest you tell you friends they are coming to mexico, pesos are the official currency and why pay to convert $$CDN to $$US then $$US to pesos? If your friends spend the $$US at places here the locals loose time and money at banks.