Update on Inbursa Daily Peso Withdraw Limit

Greetings, Friends. Just wanted to let folks know that Inbursa Bank is now allowing up to MXN$7,000 pesos per withdraw depending upon the debit card. I asked one one of the tellers what was the maximum expecting to hear MXN$5,000 pesos. She informed me that we could withdraw up to MXN$7,000 but it depended upon the debit card. With my Schwab debit card, I was able to withdraw the maximum of MXN$7,000 pesos. Cool! I then ran around the block and deposited MXN$5,000 in my BBVA account. High finance. (I just don't like walking around with more than about MXN$2,000 pesos in my pocket.)

The transaction fee is now MXN$22.04 pesos which still seems to be much less than what other Zihua banks charge. Of course, Schwab reimburses all your ATM charges but I still want to keep the costs down as much as possible, if only to keep the Schwab gravy train moving forward.

The exchange rate was excellent at approximately 18.4 pesos to the dollar. It was very close to the stated rate on the Internet via Google and the rate that Wise was quoting. The Casas de Cambio in San Diego / Tijuana have been slow to adjust to the shellacking that the peso received after the election, of which much was discussed in another thread here.

Speaking of said peso downward movement, here is an article from The New York Times about why the peso was hit so hard. The general sentiment from the thread above was that the markets have overreacted and I pretty much agree, for what it's worth. The new Presidenta claims that she is dedicated to democratic institutions. We shall see!

Mexico’s Leftists Won Big. Investors Are Worried.

Note: Link to article is good for 30 days from posting date.