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

by Padrino ⌂ @, San Diego/Rosarito, Saturday, October 01, 2022, 08:04 (358 days ago) @ mosesk

I think you will find a slight advantage to Wise when you get up into higher amounts- like hundreds or thousands of dollars.
Wise takes their fee right off the top and then offers a slightly better exchange rate than ATMs.
Perhaps one day you will do the same experiment I did.
Exchange say $1000USD at both an ATM using your Schwab card and an online Wise transaction at the same time.
Then compare the amount of pesos that you get via both transactions.
And ultimately compare the exchange rate you got from both.

The Wise exchange was for US$1,000 dollars. However, as mentioned, it was a few days earlier than when I pulled the pesos out of the ATM and rates are continually changing. Can you really take US$1,000 dollars from an ATM machine in Mexico? That would be close to MXN$20,000 pesos. I don't know that I would want to walk around with that much cash!

Complete thread:

 RSS Feed of thread