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best currency exchange rates

East Hampton, New...
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best currency exchange rates

Which way of getting pesos is the most cost-effective? Last time I was on Isla I withdrew from ATM's with my bank card and later discovered the high fees I was charged. I prefer not to withdraw using a credit card, but if that's the cheapest way I will. I could also bring dollars and exchange them at a cambio booth or a bank, though as I remember they had limited hours of operation . Advice?

Wyoming
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2,047 posts
12 reviews
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1. Re: best currency exchange rates

I exchange at the bank. The rate has been 12.

Brainerd, MN
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229 posts
51 reviews
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2. Re: best currency exchange rates

Remember your passport when exchanging dollars for peso's. I would double check with your bank on those fees or check a local credit union. I don't pay more than $2.50 per transaction at my creditt union.

up north
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1,390 posts
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3. Re: best currency exchange rates

When you use c.c that is considered cash advance. My card charges 25% interest. I think cash cards are better

Traverse City...
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472 posts
29 reviews
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4. Re: best currency exchange rates

we found the rate at the ferry dock to be as good as the bank across the street and you didnt need any id to exchange it. they are also open late. i think 8:00. we got 12.4 back in November. they were good about making small change instead of big bills. just say mas pequeno. more small.

Wyoming
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2,047 posts
12 reviews
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5. Re: best currency exchange rates

The ferry dock was 11.9 yesterday.

Hillsboro, Oregon
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11 posts
5 reviews
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6. Re: best currency exchange rates

I received 12.565 at the ATM at the store on the mainland ferry terminal. That included all fees.

Nova Scotia
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535 posts
43 reviews
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7. Re: best currency exchange rates

We are charged only 29 pesos per withdrawal with our bank cards. If a credit card is cheaper you can avoid interest by paying it into credit before you go (e.g. start with a zero balance, then pay on it whatever you think you'll need on Isla) then withdraw as needed. Might be better on fees, too but check.

Steamboat Springs...
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819 posts
130 reviews
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8. Re: best currency exchange rates

For those with iPhones- I use the Currency Plus app. It allows you to check the current rate and conversion instantly, and offers a calculator that comes in handy when I've had too many cervezas and then decide to go shopping. It tells you how much change you should get back, too. So very helpful. Sometimes, it's easy to take for granted the rate and can be easy to overpay if not paying attention. There are other great apps for this but I like this one in that it is very similar to the iPhone calculator to begin with.

The rates seem to vary from place to place on a daily basis. When we first got to Isla last year, the rates were fair at the Ultra Mar ferry exit dock. But when we were leaving the rates were best at the bank just across and to the left of the ferry exit.

Illinois
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129 posts
2 reviews
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9. Re: best currency exchange rates

We used mostly cash this trip (Feb. 11-23) and exchanged at the ferry dock, no ID required. Rates varied from 12-11.9. Also, when we went to the Chedraui to purchase items we used cash, as their rate was 12.35.

Edited: 26 February 2013, 18:53
Corpus Christi Texas
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39 posts
1 review
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10. Re: best currency exchange rates

Carrying US $ and exchanging it at the cambio or the hotel is a pain must carry passport

i like leaving mine locked up, hotels tend to be tight on the exchange rate the banks are way to slow for me ,my wife andi i have learned over the years to go with the prepaid VISA cards use them at the ATM anywhere on the island buy groceries with them and best of all nobody has access to your personal bank acct back home,they are the best thing since sliced bread