Money
How are all of you finding is the best way to handle the cash situation? Have just returned from my bank and learned that they are charging me 3% on top of what the banks there will charge me to use my debit card, I'm wondering if there is another option? We are leaving next Tuesday, so I don't have time to switch banks! Thanks.
Probably still a better deal than you would get changing at an exchange place. Check out Capital One next time.
--
-Tim McNair-
timmac@mac.com
Money
by midalake 
, Monday, October 17, 2016, 18:23 (3680 days ago) @ Karenp
How are all of you finding is the best way to handle the cash situation? Have just returned from my bank and learned that they are charging me 3% on top of what the banks there will charge me to use my debit card, I'm wondering if there is another option? We are leaving next Tuesday, so I don't have time to switch banks! Thanks.
I use a credit union ATM card it has no type of fees. I use a Chase credit card that has no foreign transaction fees.
D
Money
by Gringo Viejo , Kansas/Zihuatanejo, Monday, October 17, 2016, 18:47 (3680 days ago) @ Karenp
Most credit cards do not charge a foreign transaction fee.
Most ATM cards do have a foreign transaction fee o 3%.
Now, having said that, it has very little relation to the "best deal" because they all set their own exchange rate which can be pretty bad.
Even USD exchange at the bank leaves you open to their whims and they are increasingly hard to find.
Cambios, the money changers, are worst of all. Today they were charging bout 10%. Atrocious.
So go to Western Union, pick and option and send the money to yourself at any one of a number of locations to pick up the cash. I use Electra but there are many others and you don't have to specify which one, just Zihuatanejo and then go to any location.
Money
by midalake , Monday, October 17, 2016, 20:46 (3680 days ago) @ Gringo Viejo
Now, having said that, it has very little relation to the "best deal" because they all set their own exchange rate which can be pretty bad.
This is not always true. I have had two Credit Union ATM cards one serviced by Visa and another by Mastetrcard. I find the ATM rate the same or better than a Credit Card.
D
Ditto what Midalake said. We have two local credit union cards, (my husband works for a credit union), one Mastercard, one Visa. Fees are competitive or less than a bank credit card.
Money
by Gringo Viejo , Kansas/Zihuatanejo, Wednesday, October 19, 2016, 09:58 (3679 days ago) @ AngelaD
Yes, I understand the CUs have no fees with debit or credit cards. How does their exchange rate compare to WU which day before yesterday was 18.625 MXP/1 USD?
Money
by Paulf , Mount Sterling, Ky 40353, Tuesday, October 18, 2016, 08:23 (3680 days ago) @ Gringo Viejo
I switched credit cards because of foreign transaction fees. I was using a Mexicana Air Miles Card by BOA for air miles before Mexicana went under. When we got home from Ixtapa I could not believe the fees, I started searching for a credit card with out fees. I got a call from BOA this week about the great offers they have. When I told them why I quit using the card years ago, they still charged the fees now. I have both a United Visa and MC(from Continental) plus a ATM bank card from ETrade who charges only a small conversion fee- they reimburse any bank fees. I believe most air miles card don't charge the fee but charges a membership fee. I find it worth having a United Air Miles for travel and daily purchases. We use it a lot on internet purchases going through the United web site. Most of the time Lowes is 2 air miles per dollar ordered plus the air miles for the billing period. We order from Lowes all the time- we are emailed in a short time if the products are in stock and all we have to do is go pick them up- this is one feature we love($100 purchase becomes 300 air miles- need to generate air miles for "Z"
.
Money
Someone told us Canadians to open an account at the Scotia Bank in IZ and wire money down to account from Canada prior to vacation and access it while on vacation front the bank there. Any feedback from folks who do just that ---.getting cash at the bank's machine or fees to get cash (peso of course) inside the bank or other ATM. We always bring our Peso and Canadian bills 
but maybe this is better option.
Money
Hola
My wife opened a Scotia bank account in Canada. She got a bank card in Canada. She has used it at the Scotia bank ATM for the last few years in Zihua with no charges at either end. I have heard that the Scotia bank in Zihua is now charging very high fees for ATM withdrawals. We will have to see when we get there next week if that will affect her.
The maximum allowable ATM fee is set by the government. It's not high, I think about 35p per transaction, but I'm not sure what the actual number is.
HSBC allows you to take 15,000 per day in one transaction, so only one ATM fee. In July, the fee was 33p. Not bad, as long as your ATM card issuer doesn't charge a fee. Capital One charges no fees for ATM or credit card use anywhere in the world. We are very happy.
