ATM Exchange Rates

corolla03 · Post by **corolla03** » Thu Feb 07, 2008 1:56 am

Last Saturday(Feb.2) I used the ATM at the Suites Costa Dorada in Bucerias. I had $21.91 withdrawn from my account for 200 pesos--no fees. So the exchange rate was 9.129--not that good. At Hotel Palmeras the rate was 10.40. Is this typical--lower rate at ATM'S?

Are we paying for the convenience?

JROJEFF · Post by **JROJEFF** » Thu Feb 07, 2008 2:02 am

I use atms whenever possible ,rate seems fair ,and it is convienent

glacierroasters · Post by **glacierroasters** » Thu Feb 07, 2008 9:20 pm

When you pull money out...pull the most you are allowed.

I was told that many of the transaction fee's are the same regardless if it is 300 or 3000 peso's.

teduardo · Post by **teduardo** » Thu Feb 07, 2008 10:40 pm

glacierroasters wrote:I was told that many of the transaction fee's are the same regardless if it is 300 or 3000 peso's.

That's how it is with my bank, they charge $5 for an international transaction, so I always withdraw the max amount the machine will give.

palapa_gal · Post by **palapa_gal** » Thu Feb 07, 2008 11:07 pm

Was the ATM bank owned or private? If it was a private machine there is usually a $1.50-2.00 service fee attached to any withdrawals made for those machines which could explain the difference in the exchange rate.

tojol57 · Post by **tojol57** » Fri Feb 08, 2008 2:00 am

the exchange rate is relative to the market rate at the time the transaction is posted to your account... a real time market... with that being said, i don' t know which ATM you were using etc... because i know when we used the one by the GCP and the one on the Malecon, the rate was within a few centavos ... if the cambio was posting 10.40 i might have gotten 10.60 or i might have gotten 10.20 that particular night... but like verybody says, take the max out each time you can... my international fee is $3.00 USD on one card and $5.00 USD on another card....

have fun...

Arizona Karen · Post by **Arizona Karen** » Tue May 13, 2008 10:35 pm

teduardo wrote:
glacierroasters wrote:I was told that many of the transaction fee's are the same regardless if it is 300 or 3000 peso's.
That's how it is with my bank, they charge $5 for an international transaction, so I always withdraw the max amount the machine will give.

Check with your bank as they may be a member of the international group and therefore will waive every $5 international fee if you use the ATM from a specific partner-type bank.

DELETED · Post by **DELETED** » Wed May 14, 2008 1:53 pm

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kcowan · Post by **kcowan** » Wed May 14, 2008 5:54 pm

I use the Banamex ATMs on Olas Altas. They say 5000p max but I always withdraw 10,000p no problemo. Keep those overhead fees down.

smitty · Post by **smitty** » Wed May 14, 2008 9:00 pm

I know anyone with a CIBC account pays $5 Cdn for international withdrawals . I hate to be an alarmist but use common sense when making large withdrawals - same as you would at home .

ATM Exchange Rates

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