Exchange Currency

by kathybrown, Tuesday, October 19, 2021, 09:23 (41 days ago)

Is it a good idea to exchange the us funds to pesos before getting to the resort? or is it better to just use US - what is the exchange rate?

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Exchange Currency

by ZihuaRob ⌂ @, Zihuatanejo, México, Tuesday, October 19, 2021, 09:41 (41 days ago) @ kathybrown

Is it a good idea to exchange the us funds to pesos before getting to the resort? or is it better to just use US - what is the exchange rate?

It's better to use pesos here. Use your debit card to withdraw funds as you need them from any of the numerous ATMs (cajeros automáticos).

Local & Regional Info > Money & ATMs

Exchange Currency

by Zihuateco @, Tuesday, October 19, 2021, 12:11 (41 days ago) @ ZihuaRob

Aside from the resources provided by Rob, there are two banks within a 20 minute walk from where you are staying. The front desk can provide you directions.

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Exchange Currency

by Sandy feet @, Seattle, Tuesday, October 19, 2021, 12:31 (41 days ago) @ kathybrown

And when asked at the ATM to accept THEIR conversion rate, always press NO.

Exchange Currency

by Robbob @, Bonney Lake, Washington, Tuesday, October 19, 2021, 17:50 (40 days ago) @ kathybrown

Do NOT use the currency exchange at the airport!!! ATMs in town are the way to go!

Today's exchange rate: 1 US Dollar = 20.24 pesos; 1 Canadian Dollar = 16.37 pesos

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by qwerty @, Oregon, USA, Tuesday, October 19, 2021, 18:43 (40 days ago) @ Robbob

Do NOT use the currency exchange at the airport!!! ATMs in town are the way to go!

Today's exchange rate: 1 US Dollar = 20.24 pesos; 1 Canadian Dollar = 16.37 pesos

But there are ATMs at the airport that give the same exchange rates as those in town.

Exchange Currency

by Robbob @, Bonney Lake, Washington, Tuesday, October 19, 2021, 19:19 (40 days ago) @ qwerty

Thanks qwerty...I was not aware of the cash machine(s) at the airport...good to know. When in a Mexican airport, I usually put my head down and charge to the exit to avoid people trying to sell me another time share! :nono:

I was referring to the Exchange Booths.

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Exchange Currency

by ZihuaRob ⌂ @, Zihuatanejo, México, Tuesday, October 19, 2021, 20:13 (40 days ago) @ Robbob

The Casas de Cambio can cash Travelers Cheques if you use them.

Exchange Currency

by Toby@Zihua @, Tuesday, October 19, 2021, 21:36 (40 days ago) @ ZihuaRob

Any advice to change Euro downtown? Banks or casas de cambio ? Any place known for better exchange rates ?
Thanks!

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by Timmac @, Steilacoom, WA, Wednesday, October 20, 2021, 07:27 (40 days ago) @ Toby@Zihua

Using an ATM is a much better way to go.

Exchange Currency

by Toby@Zihua @, Wednesday, October 20, 2021, 12:07 (40 days ago) @ Timmac

I agree and that’s usually what I do but in this case I have some cash.

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Exchange Currency

by Talley Ho @, Playa la Ropa, Wednesday, October 20, 2021, 13:44 (40 days ago) @ Toby@Zihua

I wouldn't bet that you can exchange euros anywhere except the change place at the airport, and the rate will suck.

Exchange Currency

by Toby@Zihua @, Wednesday, October 20, 2021, 19:43 (39 days ago) @ Talley Ho

Might be better to change it from EUR to MPN next time I travel to Europe. I wanted to avoid going through CAD and double conversion…
Thank you!

Exchange Currency

by Toby@Zihua @, Wednesday, October 20, 2021, 19:51 (39 days ago) @ Toby@Zihua

CAD to MXN, not MPN.

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by Talley Ho @, Playa la Ropa, Wednesday, October 20, 2021, 19:52 (39 days ago) @ Toby@Zihua

Unless you use an ATM, at least here, you are going to get less than a favorable rate. If you want to "donate" money, we feel better choosing a worthy cause or person rather than a bank!

Exchange Currency

by cd69 @, Winnipeg,MB,Canada, Thursday, October 21, 2021, 01:05 (39 days ago) @ Talley Ho

I have never used a bank machine in Mexico. If I was long enough in Zihua like yourself, I would have a local account but for a few weeks, not worth it and I exchange CDN$ at banks and my exchange rate has always been as good if not better than through an ATM as my banks would charge me for such a transaction and the local bank as well. There are at least 2 banks that convert CDN$ to pesos in Zihua and the exchange rate at the moment is excellent. I am Canadian so it may be different for Americans. As for exchanging euros, I would check with Intercam as they seem to exchange everything. Their exchange rate is lower but not bad.

Exchange Currency

by Little Guy, Thursday, October 21, 2021, 14:01 (39 days ago) @ cd69

I haven’t looked at the cash exchange rates for Canadian dollars, but I can tell you a couple of recent experiences.

I have an account with Tangerine Bank. I withdraw pesos from that account at the ScotiaBank with no transaction fees.

The ATM told me M$10,000 would cost me about C$672.00. I declined the conversion and withdrew the M$10,000.

I received an email from my withdrawal yesterday.

“$628.09 was withdrawn from your Account using a debit card at ABM - *Scotiabank Zihuatanejo.”

So the exchange rate was M$15.92 = C$1.

I also moved C$10,000 to my Mexican bank account using “Wise”.

After fees, I received M$161,584.28, so an exchange rate of 16.158.

Exchange Currency

by cd69 @, Winnipeg,MB,Canada, Saturday, October 23, 2021, 00:42 (37 days ago) @ Little Guy

I have heard that Wise is a good one to use and if you are in Mexico long term, it makes sense. But the exchange rate at a teller is around 16.37 right now in Zihua so much easier for me to just go in and exchange and still get a better rate.

Exchange Currency

by Toby@Zihua @, Friday, November 19, 2021, 14:25 (10 days ago) @ Talley Ho

Update on this thread : I went to Scotia Bank… which does not change Euro, but the cashier directed me to Electra /Banco Azteca, and they changed it at 22.95 pesos per Euro which is not great but quite fair.

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by qwerty @, Oregon, USA, Wednesday, October 20, 2021, 10:31 (40 days ago) @ Robbob

Thanks qwerty...I was not aware of the cash machine(s) at the airport...good to know. When in a Mexican airport, I usually put my head down and charge to the exit to avoid people trying to sell me another time share! :nono:

I was referring to the Exchange Booths.

We're pretty good at navigating through the time share folks. I haven't been to Zihua since late 2019 but at that time you needed to take a left as you exited customs to get to the ATMs, rather than go straight ahead to get outside or right to the taxi desk.

On our first trip to Zihua, we did fall into the hands of a time share guy. But it actually turned out OK. Our luggage had not made it with us on our flight (long story) and he kept an eye out for it at the airport and delivered it to us when it did arrive. In exchange for a one hour presentation we got free transportation to Playa Linda, free water taxi to Isla Ixtapa, voucher for top of the line seafood tray at one of the restaurants there, and $200 pesos for return to our hotel. We are snorkelers so we thought it was a great deal. We took the combi back to the hotel so we came out ahead peso-wise also.

We've stopped turning in excess foreign currency when leaving because having some local currency when we arrive is quite convenient.

Exchange Currency

by Glassguy9, Wednesday, October 20, 2021, 20:12 (39 days ago) @ qwerty

This may be a weird question but are the ATM's at the airport in english because the last time I tried to get pesos out at a bank in Ixtapa they were all in spanish and mine is not that good.

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by golden boy @, Winnipeg, Wednesday, October 20, 2021, 22:16 (39 days ago) @ Glassguy9

I had the same problem with a Spanish Bank machine. On my next trip I printed a small card with the prompts translated to English. Easier I'm sure to actually learn enough Spanish to not need the card. That is what I intend to do before my next trip.

Exchange Currency

by cd69 @, Winnipeg,MB,Canada, Thursday, October 21, 2021, 01:00 (39 days ago) @ Glassguy9

Unless any changes, they are likely all in spanish.

Exchange Currency

by victorio, Thursday, October 21, 2021, 01:07 (39 days ago) @ cd69

Unless any changes, they are likely all in spanish.

Hola
The ATMs in Centro Zihua give the option to use English, at least BanaMex does.

Exchange Currency

by mindpilot @, la Playa Buenavista, Thursday, October 21, 2021, 06:18 (39 days ago) @ Glassguy9

Every ATM that I have used in the area has language options. I can't speak for the airport, but I don't imagine it's any different than anywhere else.

Exchange Currency

by Cole, Thursday, October 21, 2021, 07:04 (39 days ago) @ mindpilot

The ATM at the airport is both English and spanish.

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by mexicoman @, Playa Del Carmen, Thursday, October 21, 2021, 07:54 (39 days ago) @ Cole

The ATM at the airport is both English and spanish.

All the ATM's are in both languages. English prompts are below the Spanish prompts. Look at the screen more carefully and you will see the words in English.