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ATMs? Pesos or

Hoboken, New...
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30 posts
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ATMs? Pesos or

Hey Guys,

Did a search but for some reason couldn't find the answer. I'm staying at El Coz and wanted to know what the situation was with ATMs? Is there an international fee (I use TD Bank)?

Also should I use Pesos or Dollars? Just trying to get a general sense of how much cash I should bring and if I should convert it right when I get down there...

Edited: 08 January 2013, 22:27
Texas
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5,812 posts
62 reviews
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1. Re: ATMs? Pesos or

Look to your right on this page (you gotta use a computer not phone etc.) under top questions..."Money Questions". Use pesos and use an ATM rather than bringing a large amount of cash with you. We use the ones at Chedraui grocery store. You are certainly welcome to use dollars but you'll spend more.

Bradenton, Florida
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103 posts
232 reviews
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2. Re: ATMs? Pesos or

My wife and I are here for 5 months at a time, we never bring a large amount of cash with us. The ATM's at Chedraui or Mega have low fees(some ATM's in the square charge a higher fee) I like Mega there is a security guard posted right in front of the machines. Fees charged mainly depend on your bank, a fairly new fee many charge is called something like a foreign currency fee, this is on top of the transaction fee and is some percentage of the dollar(peso) amount of your transaction. We use a Schwab debit card from our checking account, they rebate all ATM fees and do not charge a foreign currency fee.

By going to the ATM you are paying in local currency , it gets you the best exchange rate. There is no need to carry a lot of money with you at any time

Talk to TD Bank ask what their fees are ALSO VERY IMPORTANT if you don't travel out of country much call the number on your debit or credit card and tell them you will be in Mexico from this date to that date. We had a credit

card(not Schwab) reject payment thinking there might be fraud involved. We called later that day and notified them and everything was ok, but it can pose a problem if they're unaware that you travel.

Texas
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62 reviews
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3. Re: ATMs? Pesos or

And never, ever get US dollars from the ATM. The fees are BIG.

Cozumel, Mexico
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for Cozumel, Merida
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45,389 posts
145 reviews
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4. Re: ATMs? Pesos or

I use ATMs for all my cash. I prefer the Banamex machines since they are of the swipe variety and cannot retain your card. I have never had a problem but dont want to chance it. Fees vary by bank but I find the machines of the same bank will all charge me the same fee whether at the bank or a remote location. I avoid Bancomer because of higher fees.

As mentioned, some will offer a choice of pesos or dollars. Dont take dollars or you will regret it when you see the fees.

St. Albert, Canada
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42 posts
33 reviews
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5. Re: ATMs? Pesos or

I use the ATM's at Mega. Works great for TD. Low fees. Definitely use Pesos.

Minneapolis...
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3,350 posts
42 reviews
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6. Re: ATMs? Pesos or

We charge what we can on a Capital One Visa card -- no foreign transaction fees and the best exchange rate. We get cash from the ATM at Mega using our Schwab cash card because they do not charge a fee and they reimburse any fees charged by the issuing ATM/bank. I like using the Schwab ATM card, because we just put a certain amount of cash in that account before our trip. If the card were to be stolen, only that limited amount would be at risk.

Edited: 13 January 2013, 13:28
Minneapolis
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7. Re: ATMs? Pesos or

Also staying at El Coz and wondering where is the closest ATM ? Does the resort advance you $pesos$? How about at the Airport? could we hit an ATM after arrival? Don't want to make a special trip to Mega. Thanks

Cozumel, Mexico
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797 posts
3 reviews
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8. Re: ATMs? Pesos or

I second everything Robert SDF said, you won't go wrong with his advise above in reply #4. Banamex is my choice as well and Bancomer charges more using their own card than the Banamex ATM using the Bancomer card ???

Minneapolis
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9. Re: ATMs? Pesos or

Fees not an issue, we get reimbursed, just want convenience to El Cozumeleno.

Cozumel, Mexico
Destination Expert
for Cozumel, Merida
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45,389 posts
145 reviews
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10. Re: ATMs? Pesos or

I dont know of any ATMs convenient to El Coz, but I may be missing it. The closest I know are in the center of town. I know some banks reimburse but, from what I know, they dont reimburse if you use a privately owned ATM where the fees can really be high. Many bank ATMs in town but also some of the privately owned ones.