Mexico Connect
Forums  > Areas > Central Pacific Region


Lilmsmaggie


Jul 3, 2015, 3:05 PM

Post #1 of 23 (11534 views)

Shortcut

Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
Hi,

Will be spending a week in Puerto Vallarta this month. Not sure if I should buy and bring peso's with me before arriving in PV or once I get there. I've received some conflicting info about the acceptance of dollars in PV.

One piece of information seems to be consistent: Don't exchange currency at the airport. ATM's give the best exchange rates followed by cambio's.

I belong to a credit union so using an ATM may be a problem but I need to contact the credit union and ask. I already know I can't purchase pesos from them.
Dwain (aka Lilmsmaggie)



rvgringo

Jul 3, 2015, 3:41 PM

Post #2 of 23 (11529 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
The airport will have ATMs where you can get pesos upon arrival, as well as an exchange (Cambio) for a somewhat poorer rate.
Trying to spend dollars is problematic and, in any case, will get you the absolute worst exchange rate and the label of a fresh-off-the-boat-tourist to be fleeced. Use pesos for everything and you will soon note that ATMs are everywhere; banks, larger farmacias, grocery supermarkets, etc., etc.


jreboll

Jul 4, 2015, 3:08 AM

Post #3 of 23 (11510 views)

Shortcut

Re: [rvgringo] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
I have never had problems using my credit union ATM card. I always withdraw the same amount and use the same ATM so I can keep track for my records


Teo

Jul 4, 2015, 12:31 PM

Post #4 of 23 (11479 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
We travel Mexico frequently and PV quite a bit. In fact we are in PV now. Getting pesos is no problem in Puerto Vallarta. You really don't need to bring any US dollars for exchange. Just use your ATM card at most any ATM machine - although I would recommend using an ATM attached to or inside a bank, NOT the free standing ATMs.

Before you leave for Mexico, It would be a good idea to let your credit union know you are leaving the USA so they won't freeze your card thinking it is being used fraudulently.


Lilmsmaggie


Jul 4, 2015, 1:37 PM

Post #5 of 23 (11468 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
Stopped by my CU yesterday. Informed them that I would be in Puerto Vallarta and when. This was a follow-up visit after a TC earlier in the week.

I can use an ATM while in Mexico. I asked if I needed to use a specific ATM, e.g. Bananex, etc. and I was told no.

I may just purchase pesos here from a Wells Fargo bank near where I work.
I contacted them and spoke to a manager yesterday (I don't have a Wells Fargo acct). I just need to call before I go to make sure they have someone on duty that handles those types of transactions.
Dwain (aka Lilmsmaggie)


chinagringo


Jul 4, 2015, 1:46 PM

Post #6 of 23 (11464 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
Based on our experience with two different NOB banks, the exchange rate plus the fees make buying Pesos NOB a losing proposition. We do far better tipping the luggage handlers in the airport with either leftover Pesos from a previous trip or USD. At the Guadalajara Airport, there are ATM's in the airport lobby and we hit one of them before heading into the City.
Regards,
Neil
Albuquerque, NM



Lilmsmaggie


Jul 4, 2015, 1:56 PM

Post #7 of 23 (11459 views)

Shortcut

Re: [chinagringo] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply

In Reply To
Based on our experience with two different NOB banks, the exchange rate plus the fees make buying Pesos NOB a losing proposition. We do far better tipping the luggage handlers in the airport with either leftover Pesos from a previous trip or USD. At the Guadalajara Airport, there are ATM's in the airport lobby and we hit one of them before heading into the City.


Yes, I would imagine that Wells Fargo is probably less than ideal. The other option is Travelex. They're probably a last resort.

My CU stated that they would charge 1% of the amount + whatever fees I would incur by using the ATM's. Either way, I can't get around fees. The trick is keeping the fees to a minimum.
Dwain (aka Lilmsmaggie)

(This post was edited by Lilmsmaggie on Jul 4, 2015, 2:00 PM)


chinagringo


Jul 4, 2015, 2:20 PM

Post #8 of 23 (11451 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
We are far more pleased with today's exchange rate of $15.7225 than to concern our selves with a few minor "cost of enjoyment fees". Many remember the days when it was $10.00 or even lower.
Regards,
Neil
Albuquerque, NM



DavidHF

Jul 5, 2015, 10:51 AM

Post #9 of 23 (11430 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
Most banks and credit unions charge 1%, mine does. The ATM fees here in Chapala are $29 Pesos, about $2US. DO NOT buy Pesos in the USA, get some at the airport after arrival. You'll find many ATMs all around PV. Just relax and enjoy your visit!


Lilmsmaggie


Jul 6, 2015, 6:05 PM

Post #10 of 23 (11396 views)

Shortcut

Re: [DavidHF] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
My niece is tellng me that some ATM's in Puerto Vallarta are charging as much as $5 U.S. Seems a bit high especially if you need to use one more than once.

Is there a maximum daily withdrawl amount? Not that I would be using one often but would be good to know.

Not sure where she's getting this info. She's been hanging with some expats there. Not sure if she's getting it from them or her own personal experiences.

IHere's Wells Fargo's web site:

https://www.foreignexchangeservices.com/...amp;serviceType=rate
Dwain (aka Lilmsmaggie)


chinagringo


Jul 6, 2015, 6:41 PM

Post #11 of 23 (11391 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
$5USD would be $75+MXN and I am going to guess that these ATM's are privately owned as opposed to bank owned? Your daily maximum is set by your bank but may require multiple transactions (with fees) to reach that amount. Our rule of thumb is to always withdraw the ATM maximum per transaction to keep the costs down.
Regards,
Neil
Albuquerque, NM



RickS


Jul 6, 2015, 6:42 PM

Post #12 of 23 (11391 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
The daily maximum is a function of your debit-card holder... i.e. your bank or credit union sets this limit (which you can change by giving them a call).


JRinPV

Jul 7, 2015, 9:27 AM

Post #13 of 23 (11364 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
Local ATM charges are around 30 pesos, some not bank affiliated, like Cashola which mostly dispense US$, still don't understand that ?, are way more expensive, avoid them.
ATMs will give you the best rate and most do not take your card into the machine, so little risk of it getting eaten.


Lilmsmaggie


Jul 7, 2015, 10:16 AM

Post #14 of 23 (11356 views)

Shortcut

Re: [chinagringo] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply

In Reply To
$5USD would be $75+MXN and I am going to guess that these ATM's are privately owned as opposed to bank owned? Your daily maximum is set by your bank but may require multiple transactions (with fees) to reach that amount. Our rule of thumb is to always withdraw the ATM maximum per transaction to keep the costs down.



In Reply To
The daily maximum is a function of your debit-card holder... i.e. your bank or credit union sets this limit (which you can change by giving them a call).


Yes, my niece didn't elaborate on whether it was dollars or pesos. I had a case of "sometimers" (a phrase I picked-up from a Latina acquaintance a couple of years ago) with the daily withdrawal amount. Too much on the brain at the moment.


In Reply To
Local ATM charges are around 30 pesos, some not bank affiliated, like Cashola which mostly dispense US$, still don't understand that ?, are way more expensive, avoid them. ATMs will give you the best rate and most do not take your card into the machine, so little risk of it getting eaten.


Good to know about Cashola -- Gee, just the name says: "Don't use me - Don't even think about using me."

Since my CU has given me the green light to use ATM's and they know I'll be in Mexico, looks like I'll be using an ATM at the airport in PV once I land.
Dwain (aka Lilmsmaggie)


Lilmsmaggie


Jul 7, 2015, 10:30 AM

Post #15 of 23 (11355 views)

Shortcut

Re: [chinagringo] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
So, I should see ATM's for Banorte, Scotiabank, Bancomer and HSBC at the airport in Puerto Vallarta correct?

Can you give me an idea where these machines will be located in the airport?
Dwain (aka Lilmsmaggie)


AlanMexicali


Jul 7, 2015, 11:03 AM

Post #16 of 23 (11350 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply

In Reply To
So, I should see ATM's for Banorte, Scotiabank, Bancomer and HSBC at the airport in Puerto Vallarta correct?

Can you give me an idea where these machines will be located in the airport?


Banorte charges $69.00 pesos for the transation fee and Banamex charges $29 pesos. The problem is a US credit/debit card sometimes does not have a RFID chip and Mexican cards do. So when you swipe the card it might not read it in a Mexican ATM the first time as they sometimes do not service the magnetic card readers in these ATMs and rely on the RFID chip to acknowledge the card instead.

I have found ATMs that work everytime and also I have found some that need to have me insert the card several times to work and others that will not work at all with my US debit card. So if it wonīt read the card the first time try again and if after a few tries go to another ATM even right in the same room at a bank branch where they have several ATMs.


(This post was edited by AlanMexicali on Jul 7, 2015, 11:04 AM)


DavidHF

Jul 7, 2015, 2:27 PM

Post #17 of 23 (11333 views)

Shortcut

Re: [AlanMexicali] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
My cards do not have RFID chips and the machines I use frequently (3), each from a different institution, read them every time.


chinagringo


Jul 7, 2015, 7:48 PM

Post #18 of 23 (11301 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
Since I/we have never flown into the Puerto Vallarta Airport - I won't guess/speculate what ATM's they might have! We stick with the recognized banks and prefer those machine where one swipes their card rather than the ones which pull the card into the ATM and hopefully give it back when the transaction is over.
Regards,
Neil
Albuquerque, NM



hunteradvisor


Jul 8, 2015, 3:09 AM

Post #19 of 23 (11293 views)

Shortcut

Re: [Lilmsmaggie] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
There are at least 4-5 ATM with Sanatander, Banamex, 2 others I don't recall. I will be there Fri. and will try to check. Location is near the exit from the secured area where the domestic flights arrive, also close to the airline desks for check in. If you are coming on an international flight, ignore all of the time share/taxi and other change places before the exit from the secured area. Come through the last door of the secured area and go right down the hall almost to the end. The machines are in your right.
Use to be Bank of America did not charge for withdrawals from Santander machines, but I just checked and I was charged in Spain about $5.00 on every withdrawal. In Mexico I always take the max to help,offset the fee.
Don't change cash, the exchange is abominable. I also try to use my AmEx wherever I can or Capitol 1, no conversion fee, pretty decent exchange and I earn miles for flying back for visits.
If you are here for awhile you could also consider using Xoom. $4.95 and you can pick up in a dozen convent locations. Withdraw up to $2900 U.S. For $4.95.
Isabel
www.RanchoSolyMar.com


AlanMexicali


Jul 8, 2015, 6:41 AM

Post #20 of 23 (11284 views)

Shortcut

Re: [DavidHF] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply

In Reply To
My cards do not have RFID chips and the machines I use frequently (3), each from a different institution, read them every time.



I live in an area of Mexico where there are no USA foreigners, [maybe 150 to 300 total, just a guess] only Nationals, and I presume the banks service the magnetic card readers in the ATMs only when they recieve complaints otherwise they might let them stay unserviced and in that case they only work with the RFID chip reader. I would probably be the only person complaining in a city of 1.4 million people in this case and I donīt bother. I find an ATM that reads the magnetic strips. In other areas where US citizens live/visit and have old technology non RFID debit/credit cards they might want your business. I read Canadian banks went to RFID cards some time ago.


(This post was edited by AlanMexicali on Jul 8, 2015, 6:43 AM)


La Isla


Jul 8, 2015, 10:37 AM

Post #21 of 23 (11269 views)

Shortcut

Re: [hunteradvisor] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply

In Reply To


Use to be Bank of America did not charge for withdrawals from Santander machines, but I just checked and I was charged in Spain about $5.00 on every withdrawal.


Maybe a year ago, Bank of America started charging a 3% service fee for withdrawals made from Santander ATMs.


Lilmsmaggie


Jul 8, 2015, 1:02 PM

Post #22 of 23 (11261 views)

Shortcut

Re: [hunteradvisor] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
I read a Mexperience post from Aug. 2013, where a person commented that in addition to his financial institution's nominal $2-3 transaction fee for using an ATM in Cancun, there was a $45 fee associated with the ATM withdrawal. He stated that his bank told him that all he could do was to contact the Mexican bank.

The poster doesn't state where in Cancun or which ATM he used.

I used an ATM machine across the street from the Royal Mayan Resort in Cancun on Kukulcan Blvd. back in 2013. It was located just outside a Bank (don't recall which one) and I was only charged about $29 pesos for the transaction.




In Reply To
There are at least 4-5 ATM with Sanatander, Banamex, 2 others I don't recall. I will be there Fri. and will try to check. Location is near the exit from the secured area where the domestic flights arrive, also close to the airline desks for check in. If you are coming on an international flight, ignore all of the time share/taxi and other change places before the exit from the secured area. Come through the last door of the secured area and go right down the hall almost to the end. The machines are in your right.
Use to be Bank of America did not charge for withdrawals from Santander machines, but I just checked and I was charged in Spain about $5.00 on every withdrawal. In Mexico I always take the max to help,offset the fee.
Don't change cash, the exchange is abominable. I also try to use my AmEx wherever I can or Capitol 1, no conversion fee, pretty decent exchange and I earn miles for flying back for visits.
If you are here for awhile you could also consider using Xoom. $4.95 and you can pick up in a dozen convent locations. Withdraw up to $2900 U.S. For $4.95.

Dwain (aka Lilmsmaggie)


fpeg

Jul 28, 2015, 6:54 PM

Post #23 of 23 (11111 views)

Shortcut

Re: [AlanMexicali] Coming to Puerto Vallarta - Foreign Currency Exchange advice needed

Can't Post | Private Reply
where do you live
 
 
Search for (advanced search) Powered by Gossamer Forum v.1.2.4