best casa de cambio?

[mcampes]

Hi there - I will be spending Sept - Nov in GTO and am very excited to meet you all at some point...!

Any suggestions for the best place to exchange money when I get there? Should I do it at the airport, or are there better exchange rates in town, and where?

Thanks so much!

Maureen Campesino

[DML]

There are now money exchange restrictions due to the drug problems. You can only change up to $300 a day cash and only $1500 per month. However, If you do not have a bank account you cannot change money at a bank. The rate at the airport is good, the couple of money changers in town give lousy rates.

Your best bet is to cash $300 at the airport upon arrival and then use your debit card at one of the many ATM machines in town. You will get charged a small fee on this end (btw $MX25-50 per transaction) as well as your bank fee at home, so it is best to take out your maximum withdrawl allowance.

Good luck

[doncoulter]

There is in fact one bank in Guanajuato where, even without an account, you can still exchange dollars for pesos: CI Banco, on Plaza de la Paz. I once asked a teller why it was the only bank in town that could legally do this; she said that CI used to be a casa de cambio, or still technically is, or something like that. The $300-per-day limit applies, but they waived it one time when I wanted to exchange a little more, simply by dividing the exchange into two separate transactions.

DML is right, however, that it's far more convenient, and probably cheaper, to use your ATM card. There are ATMs all over town. There's even one at the airport, so there's no need to deal with the money exchange there.

Don

[The Duck]

I agree re ATM's and it is best to have a card that absorbs ATM fees like Schwab Bank and I think Fidelity now has one similar. Search this Forum for more info on the Schwab account - it is actually a brokerage acct [which you can leave unfunded] with an attached checking account. Every month for more than a year now they have credited my account between $25-$40 in ATM fee rebates. They catch most fees from most banks automaticaly but not those from Banorte so I avoid their machines.

[peddler665]

Only use US $'s when traveling to/from Mexico. ATM is the only way to go while there IMO.

[jesm]

ATM advice is right on. If you have your account with Bank of America you can use Banco Santander ATMs anywhere in Mexico without fees, zero cost.

[laconstance]

And, if you bank at CitiBank or any of its affiliates, you can use the ATM at Banamex without charge.

[mcampes]

Thank you all for this info -- it's very helpful!!

mcampes