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From the "Teach an old dog new tricks" Department, Gracias!

by mosesk @, Ojai, CA, USA, Tuesday, September 20, 2022, 22:10 (13 days ago) @ Padrino

The saga continued today with me fumbling about trying to figure out exactly where the INBURSA office was. There are two across from Los Braseros and the first one I found is upstairs. That ain't the correct one. I gave the masero at Los Braseros a good chuckle.

With no option for English, the INSURSA ATM said nothing about exchange rates. It also wasn't clear to me if the withdrawal amount was in pesos or dollars so I chose $100. Out popped MXN$100 pesos and a receipt with the MXN$17.40 commission (MXN$15) and IVA de commission (MXN$2.40) dutifully reported.

Within minutes, I got a text from Schwab Bank saying that US$5.90 was debited from my account. Hmmm. That ain't a very good rate. MXN$100 pesos divided by US$5.90 is an exchange rate of 16.949 which is pretty lame.

However, I don't know yet if the MXN$17.40 will be credited back or not. If the $17.40 is credited back, then the exchange rate will be excellent.

Of course, in practice, it makes sense to take out at least a few hundred US dollars or a few thousand Mexican pesos. That way the MXN$17.40 charge is amortized over a much larger amount of money.

Users of Schwab debit cards, do you eventually receive entries in your account for credits of the ATM fees?

Many thanks to all for all your help!

In the past I have received the total of all ATM refunds at the end of the month


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