wildtoucan
Guest
Am going to rp on sunday and have not been since june and am hearing that you can't use american money there only pesos? Is that correct?
money
- Thread starter wildtoucan
- Start date
I just spent 9 days there starting Columbus Day weekend and had no problem using American money. I understand it is cheaper to use pesos, tho.
wildtoucan
Guest
thanks.....if you get pesos do you get them here in the usa or in rp?
Joe,
Can you chime in here? I really don't know which is the most reasonable exchange house.
Can you chime in here? I really don't know which is the most reasonable exchange house.
rockyptjoe
Guest
Chari...I use the ATM on the corner of Fremont/Sinaloa (I think....it's the street that Capones is on)....it's across from the Pemex gas station. As someone posted, VISA/MC give you the current exchange rate. That machine (on the Fremont side of the bank) gives you either USD or pesos. I think there is an ATM (don't know who it belongs to...bank, that is) right next to Reggies....I haven't used that one.
Official rate in the paper today (yes, I look at it everyday) is 12.4 to 1. So ya got shorted 5 pesos on every buck! But, that's how the exchanges make their money. The only place you'll get the official rate (or very close to it) is a bank.
mexicoruss
Lovin it in RP!
I fyou have a Mexican Bank account in pesos, you can actually write a check to Monex (after you set up the account) they will deposit into your Mexican Bank account the days equivalent in pesos from your dollar written check (syntax please?) When I receive payment in dollars on an American check I can also use my Monex account to render my pesos in my Banamex account. It is sweet, it is simple and they dont charge a commission. They make a little on their exchange but it is totally worth it to me. Maybe not to you but to me!
rockyptjoe
Guest
I thought the mexican banks were accepting US checks...if you have an account with them????
What is Monex???
What is Monex???
mexicoruss
Lovin it in RP!
It is pretty easy to open a checking account at Bancomer. They have english speakers available. You will need a light bill or water bill in your name and a physical address - could be pdo I guess, you will need some form of immigration status and I believe a FMT would do. Once you establish your account at the bank then you take all that info to Monex. They will link a Monex New York account to your Mex Bank account. Once your Monex account is active (24 hours) you can write a check to Monex, they will verify and hold funds on the account the check is written from and within 20 minutes the money is available in your Mex Bank peso account. Alternately if you want to fund your account from the states you can wire money to Monex's Chase Bank account if you have a chase account too it is dirt cheap. They handle the rest of it for you funding your account. It is pretty sweet, As far as the Mex Bank accepting american checks I had no problem at Bancomer but I have an account there too!
Wood Spinner
Guest
A good example of rip off via dollar was when I bought Diesel about a week ago at Pemex. Their posted rate was 11.00 Now thats a rip off of the AmericanI have been a little lax in exchanging befor e buying but that is now a thing of the past for me.
rockyptjoe
Guest
The stations in town have been pretty good about giving you close to the official exchange rate the last year or so....I guess with the change to the laws on US $, they're trying to take advantage of the situation.....just walk across the street (Sinaloa/Fremont) and hit the ATM first!!!