Getting Clear on $ Exchange Options - Help!

Greetings - We're heading to Zihua/Barra in a couple of weeks and have been tracking the issues with ATMs, exchanging currency, ATM cards with chips not being accepted in ATM machines, etc....We've always brought a few hundred dollars in US currency and exchanged it when in Zihua and then just used ATM machines at Banomex or ScotiaBank to get pesos. We did this for safety, convenience, and good exchange rates.

Here are our questions:

We now have debit cards with chips embedded in them. Will they even work? If yes, where?

We don't have a bank account/ATM card with a Mexican bank. We're only here for a week's vacation. Can we withdraw money in pesos without a problem?

If we can withdraw money using our chip debit cards, where is the best place to do so in Zihua? Is it possible to withdraw US$250 or so per transaction?

If we can't do the above successfully, should we bring a bunch of US currency and then exchange it? Where can we do this, if we don't have a bank account?

Is it better to just get a ton of pesos here in the US and then bring them along?

Thanks much, just noodling over old posts and threads and trying to figure out what we should do.

Muchas gracias! Jackie M

Cards with chips do work in the ATM machines. Just follow the directions. You can withdraw whatever amount your bank says you can withdraw. My bank allows $500 USD
so I can usually get $7,000 pesos when I withdraw. I usually use my card at Scotia Bank. If you have a problem there the security guard speaks very good English and is willing to answer questions you might have. Cards with a chip work differently than those without and some of those people having problems do not read or understand Spanish so do not know what the message that keeps repeating is telling them. It tells you to leave your card inserted until it tells you to remove it.

Using US dollars at Comercial Mexicana gets you the very best exchange rate and they give you change in pesos. I have several friends who always do that so they get the good rate and and then have pesos when they get their change.

Getting pesos in the US will work but you do not get the same good exchange as you do using an ATM. Bring US dollars with you is fine, but to exchange you usually need your passport and a copy of it to leave with the bank. Several banks are not exchanging now. Scotia Bank is still exchanging but it is only $300. USD per day.

I have been here since December and have never had a problem getting money from the ATM or a problem using dollars to pay at Comercial Mexicana.

Good luck.