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Canadian currency exchange

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Ontario, Canada
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Canadian currency exchange

OK, so just for the record. On my trip July 14-21st, here are the rates of exchange I experienced first hand. I know it changes, but here they are;

1/ Got 8000 peso's from Scotia ATM at airport. Total amount withdrawn from my TD account $681.50. My math shows that is .0852 cost per peso, or 11.739 peso's to the Canadian dollar all in.

2/ Exchanged cash at the bank notorious for card problems. But they had a better rate than over the bridge. 11.2 pesos per Canadian dollar. As a side note, I had been on a run, and had cash in pocket, so tried to exchange north of the Cuale, on west side of Morelos at the Santanders. They offered 11.18 & required my Canadian passport, needless to say I did not have it. When I saw the better rate at CiBank (sp), I went in & exchanged. No passport req'd.

3/ Cambio's were offering 11.0 peso's to the Canadian dollar.

4/ My bank at home, before departure would have been .0875 or 11.43 peso's to the dollar all in. On 8000 peso's, that is $700.00 Canadian

5/ The exchange house I have used at home would have been the same as the bank.

6/ I used an ATM at the BankNorte with no issue, and withdrew 1500 peso's. My bank withdrawal shows $131.70 all in. Again, my math shows .0878 or 11.39 peso's to the Canadian dollar. I know that reflects the fees spread over the lower amount, but that was all I needed.

So that is just what I found on this trip. No opinion on which is best, as we all have our needs. It was no issue using the ATM, tho I was concerned it did not show the rate of exchange on my receipt, only the charge for the ATM. Actually, my card was not read on the first ATM I tried at the airport, but was OK on the 2nd. So for about $20 difference on 8000 peso's, you can decide what is best for you. I was happy the ATM allowed me to get that much punching in 'other' amount.

Calgary, Canada
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1. Re: Canadian currency exchange

So the Scotiabank ATM at the airport had an "other amount" button? If so that's very good to know, thanks!

toronto
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2. Re: Canadian currency exchange

Great info, thank you.

Ontario, Canada
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3. Re: Canadian currency exchange

Yes Jen, it had the 'other' amount. Was hoping it worked. So, I'm guessing it is normal not to show the rate of exchange then, and just know it is the current rate of the day? No biggie, except had I not had faith from this board that it is the best rate, I may have resorted to using more cash.

Calgary, Canada
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4. Re: Canadian currency exchange

All ATMs use the best day's rate, globally. The rates change approximately every seven minutes or so (sometimes so miniscule a change it doesn't register so brick and mortar banks or cambios wouldn't be updating that often).

They don't show you the rates, no. That's no different than anywhere else outside your country you use it. It will show up on your account information, which I always check online following an international transaction to ensure there's been nothing strange. That's where I see the exchange rate posted and then do the same figuring you did.

My curiosity was moreso about the availability of the "other amount" button, as last fall the Scotiabank on Juarez did not have that so the maximum withdrawal was 3000MXN per transaction, so I was having to do two of them back to back. In this case I'll probably just stop at the airport before getting the taxi to my hotel when I arrive on my next trip, load up once there and then use the one downtown as needed. Thanks!

Edited: 25 July 2014, 17:45
Edmonton
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5. Re: Canadian currency exchange

Good to know. I just got 11.6 at RBC this week and it was better than the exchange houses in Canada on the same day at the same time (my mom called). I also paid no fee and got the denominations I wanted. So much for the theory that the big 5 will always screw you:)

toronto
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6. Re: Canadian currency exchange

Jenny, back in Dec and Jan of this year, I did go to Scotiabank on Juarez and it most definitely did have the 'other' button. I was able to withdraw much more than the 3000 pesos using the other button. I am absolutely sure about this. I guess the ATM has been updated since you were last there?

7. Re: Canadian currency exchange

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