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6:19 am
October 14, 2011
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Buck Inspire
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Hi all,
Headed to Mexico soon. Does anyone know where is the better exchange rate? Hotel or Airport? Gracias!
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6:45 am
October 14, 2011
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My Personal Finance Journey
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Neither – go to a bank or ATM, preferably at a bank that has a no-transaction fee arrangement with your bank. Take a look at the "Jacob's thoughts" section of this post for more info - http://www.mypersonalfinancejo…..n-can.html
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6:56 am
October 14, 2011
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Jeremy @ Personal Finance Whiz
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Ditto to what Jacob said. I've been to Mexico several times. Talk to your bank first, but ATMs are typically your best best for the lowest fees and best exchange rate. You should also be able to use your debit/credit card at a lot of places so you don't have to carry a lot of cash.
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8:09 am
October 14, 2011
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Kay Lynn Akers
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I never exchange money for trips to Mexico. Just about everywhere accepts US dollars. So with your credit card and US dollars, you're set.
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8:16 am
October 14, 2011
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Sustainable PF
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I use a F/X company to get the lowest possible fees.
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9:07 am
October 14, 2011
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Eric – PersonalProfitability.com
| | Portland, OR | |
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If you do use dollars, per Kay Lynn's suggestion, make sure you haggle with the guys and don't overpay.
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11:21 am
October 14, 2011
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20s Finances
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It has been a year or two since I used to travel overseas at least once a year… but if I recall correctly, the best place is the bank and also to use the credit card (although I know not all places take credit).
If I were forced to choose between the hotel and airport, I would choose the hotel. Airports function on convenience. When you exchange money at the airport, the idea is that this is either your 1. last chance to exchange money back before returning from a trip [or] 2. your first opportunity and therefore don't know that you can get a better deal elsewhere. Hotel want to make money, but they also should be pretty accomodating.
That's my rationale at least. Enjoy the trip!
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6:56 pm
October 14, 2011
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The College Investor
| | San Diego, CA | |
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Kay Lynn Akers said:
I never exchange money for trips to Mexico. Just about everywhere accepts US dollars. So with your credit card and US dollars, you're set.
I agree with Bucksome. Living in San Diego, everyone in Mexico accepts US Dollars. If they don't, do what Jacob said and go to the ATM.
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