Directions are in english and the exchange rate official. Take enough pesos to cover your expenses on arrival tips to baggage handlers taxi etc pay with a credit card when possible.
Send for cash pickup and bank deposit to mexico send money to the top cash pickup locations and banks throughout mexico such as oxxo elektra and bancoppel.
How to exchange money in mexico. So you could either pay 150 pesos or 10 00 usd fair enough you may think. Depending on the transaction fee your bank may impose the best way to get pesos in mexico is to make a withdrawal at an atm machine. Simply to have some pesos on hand when they arrive in mexico.
However let s say the true bank rate of exchange is 18 pesos to the dollar your 10 usd is actually worth 180 pesos but the bar is making an extra 3 pesos per beer by offering a poor exchange rate. Every major city in mexico has places to exchange money. The reputable banks in town are hsbc scotiabank santander bancomer banorte and banamex.
Take a credit card or debit card for atm cash withdrawals. This bar offers an exchange rate of 15 pesos to the dollar. Go to an exchange house instead.
Choose how to send your money to mexico. If possible exchange a small amount of currency to mexican pesos before your departure. The power of paypal at the speed of xoom.
You can change money in banks but it is often more convenient to change currency in a casa de cambio exchange bureau. Best of all you can send money to mexico using a credit 2 or debit card directly from your bank account via apple pay or with cash at more than 55 000 agent locations in the u s. If you need to transfer money to or from mexico this is best done through an agency set up for the purpose see money transfers later in this guide.
You will be charged a commission but it s generally a lot lower than if you exchanged at an airport bank or hotel. Exchanging your money domestically at your bank is usually the least cost effective way to do it. Some machines will even have an option for withdrawing u s.
But only the atm machines inside of or associated with a reputable bank. Where to exchange money in mexico. When you need to send money to mexico western union can get your cash there reliably within minutes 1.
Make bank deposits to all major banks including bbva bancomer and banorte. Virtually every bank and the larger supermarkets have them. Nearly all of them agree that the best place to exchange money from their native currency to pesos is through an atm machine.
Travelers generally opt to exchange some money before leaving the u s. These businesses are open longer hours than banks usually do not have long line ups as banks often do and they offer comparable exchange rates though banks may offer a slightly better rate. Use google maps to.
Although some banks offer cash and travelers check exchange they are not the ideal place to undertake this kind of business.