ATM Peso Limits ? Fees?

by HolyMole @, Sunday, July 30, 2017, 22:23 (135 days ago) @ Scott

I read the original message, but the reason I speculated it could be the home bank is because a few things that showed up on google when I tried searching said the home bank is responsible for the exchange rate. I just read a few more articles though, and came across something I had never heard of before, called "dynamic currency conversion", or DCC.

Apparently it's a thing some financial institutions are doing now, not Mexico specific, where the foreign ATM or point of sale terminal can process your transaction in your home currency. In this case, the foreign bank has to show you the exchange rate, and the amount that will be debited from your account in your home currency. This is ostensibly for "convenience", but they may give you a worse exchange rate if you do this.

Bet You Didn’t Know: Avoid Getting Suckered by International ATM’s
HSBC expands DCC program

I wonder if this is what's going on? HSBC is offering "DCC" in some of their Mexico ATMs now?

A few years ago, I complained to Scotiabank Canada about their lousy foreign currency exchange rates, specifically for ATM peso vs. Canadian dollar transactions at Scotiabank's Zihua branch, and Toronto replied that Scotiabank Mexico sets the exchange rate, and I should complain to them. Passing the buck?


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