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A Voice From Oaxaca
Advice to heed before heading out the door to the airport, questions you'll have after landing, and money issues that will arise in the course of your vacation You don't need to take travelers' checks. ATMs are common, safe and reliable and, while pesos and American cash rule, a VISA card will get you through your trip to Oaxaca. But there innumerable other tidbits of advice to heed before heading out the door to the airport, questions you'll have after landing, and money issues that will arise in the course of your vacation.
Getting ready for the trip
ATMs
There are several ATM machines in the downtown core alongside almost every bank and even inside the odd pharmacy. Similarly, in the suburbs you'll find no shortage of machines in banks and pharmacies, as well as freestanding kiosks, and even inside large department and grocery stores.
It's best to go into your bank before your trip to confirm your weekly limit, maximum number of weekly withdrawals and amount you can withdraw per day, and to have it noted on your file that you will be using your card in southern Mexico. Increase your maximums if possible. While it is rare for a machine to "eat" one's card, just as it happens infrequently in your hometown, it can happen here, and could take up to two or three days for you to get your card back. Accordingly, to be on the safe side, take an extra card with you or make sure your partner has his card. If you have both an ATM and credit card from which you can access your account, use the ATM card so that in the unlikely event of a problem, you'll still have plastic for withdrawals and making purchases.
Credit Cards
Most establishments in the city accept credit cards, VISA being the most widely welcomed. Once again, as part of your pre-trip planning, contact your credit card companies and inquire and advise regarding the following:
- 1) make sure it is noted that you will be making purchases out of the country;
- 2) check your single purchase dollar limit and increase it if possible, perhaps for only the period of time you will be on vacation;
- 3) ask how exchange rates will be calculated and if there is a surcharge, so you can make a more informed decision as to whether it's more advantageous to use that credit card and increase the balance in your points program, or to use cash;
- 4) if you intend to rent a car in Oaxaca, ask if your gold or platinum card will cover the rental car's theft, damage, liability, and so on, and confirm the answer by reading the cardholder agreement's terms, conditions and restrictions, all with a view to avoiding having to pay for such "extra" charges when you pick up your vehicle.
Remember that not all merchants, especially in the towns and villages where you'll be buying handicrafts, accept credit cards, and often those who do so will charge a premium of up to 6% to cover their commission costs. Using a credit card may reduce your bargaining power significantly. Of course when dining at a small eatery or making purchases on the street, you'll only be able to use American cash or pesos and, if you use American cash, you won't likely get as good an exchange rate as you would through a conventional exchange house (casa de cambio) or bank.
U.S., Canadian or Other Cash
In Oaxaca, if you're paying with foreign currency, make it U.S. dollars. However, Canadians, for example, should not feel the need to go out and buy yankee greenbacks. Years ago, things were different and it was difficult if not impossible to change our Canadian dollars into foreign currency while out of the country. We felt that the U.S. dollar ruled the world. Today, here in Mexico pesos are just fine and, more importantly, most of the casas de cambio offer competitive rates for Canadian dollars and other major currencies. There's no need, and it's not economically prudent, to pay to have Canadian changed into the USD and then, upon arriving in Oaxaca, again pay to exchange into a third currency. It's true enough that while there are places that exchange only U.S. dollars, within about three blocks of the downtown central square (the zócalo) at least four casas de cambio can be found that exchange major foreign currencies. One word to the wise: do not bring foreign bills that have any rips, writing on them, or with ink stains or other stains. The rule of thumb at a casa de cambio is to reject all damaged or defaced foreign bills.
Travelers' Checks
A more seasoned readership will recall always using travelers' checks. But that was before the age of ATMs, PayPal and the realization that not everyone in a strange land is out to rob tourists. And besides, each of us had his trusty money belt. Many still "don't leave home without it," but often find making such transactions a bit cumbersome. There may be (but generally is not) a nominal premium charged for exchange, it takes time to get out that passport and have the data recorded on each check and, if you're careful as you should be, the advisability of carrying them is reduced. Institutions will accept travelers' checks, but often have to pay a commission for having them deposited into their Mexican peso accounts. They will generally be accepted at major retail outlets, hotels and B & Bs and in the craft villages at larger workshops, but there may be a small cost involved. Having stated this, often the retailer will be prepared to absorb any fees. Many Oaxacans in the tourism industry will simply hang onto travelers' checks and then deposit them into U.S. dollar accounts they have in the States.
PayPal
PayPal has revolutionized small scale, international, commodity and services purchase and sale transactions. The commission rate is modest, it's an extremely safe and secure means by which to buy and sell, and it has its own safeguards to protect both sides of a transaction from the unscrupulous and the naïve. You may have used PayPal to make your deposit on reserving your accommodations, for a cooking school class or in arranging an ecotourism trek. Once you're in Oaxaca, you can likely pay the balance owing in the same way, as long as you don't mind the modest charges involved. The main additional advantage to PayPal is that money exchanges hands instantly. And even in the craft villages there are proprietors who either accept PayPal or have a colleague, relative or friend ready to assist in facilitating transactions for the purchase and sale of rugs, alebrijes, etc. (especially when a custom order is placed). PayPal is simply one additional payment method that has come of age in Oaxaca.
You're now in Mexico
The rate for changing U.S. or Canadian dollars into pesos...
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Alvin Starkman together with wife Arlene operates Casa Machaya Oaxaca Bed & Breakfast.
Alvin received his masters in social anthropology in 1978, and his law degree in 1984. Thereafter he was a litigator in Toronto until taking early retirement.
He and his family were frequent visitors to Oaxaca between 1991 and when they became permanent residents in 2004.
In his spare time Alvin leads private, small group tours to the craft villages, towns on their market days, ruins and other sites; writes articles about life and cultural traditions in Oaxaca; translates from Spanish to English for a local newspaper; and writes a legal column for a Canadian national antiques newspaper.
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