Puerto Vallarta Forum (PV Bulletin Board)

Would like to know where the best place to exchange USD to PESOS....I have heard the banks, airport etc. etc....Thanx

All the experts say that you get the best rates at banks. It seems strange, but the airport is one of the best and very convenient.

I 2nd that.

Unless you have lots of US dollars stashed somewhere that you need to unload, it's best to access your bank account with an ATM card.

This gives you the best rate, the same rate the banks use when transacting between themselves.

Also, the lines at the banks can be long, especially from 2 P.M. until 4 P.M. That's when most workers in Mexico take their lunch break. Besides the usual banking activities, locals also go to the banks to pay things like utility bills and property taxes. The biggest crunches are near the end of the month.

Use your ATM card as the best option, and/or exchange U.S. at the casa de cambio windows that are all over town, rates are posted. If you're concerned about saving a few cents, stand in line and change at a bank instead.

Using the ATM's in Mexico is not free any more--Brenda had an entry several days ago that addressed that very subject.

NOT YOUR HOTEL!!!! lol at my hotel the exchange was 7.40 when it was supposed to be like 8.35 (that's what it was in pv). so go to a bank!!!

Quote:

"Using the ATM's in Mexico is not free any more--Brenda had an entry several days ago that addressed that very subject."

Sad, but true. They've now picked up the practice of charging to use ATM's, so you'll now pay your bank's fee, their fee, and any international fee. I'll still use them, but probably not as much as I used to.

Cambios have always been handy, and the rates very decent.

We take traveler's cheques. The bank lineups aren't bad at all in the mornings. They start growing as the day goes by. Still say they have the best rates I've seen, but we're used to always watching our CAD dollar exchange rate.

Do you need to exchange your money or can you just use US$ like in Cancun area.

Hilltop (Aug 11, 2004 11:01 a.m.):
Do you need to exchange your money or can you just use US$ like in Cancun area.

You can use US dollars, but you will get a better rate changing over to pesos...so more bang for your buck

For Hilltop... not like Cancun. Exchange and use peso. Of course many vendor would accept US cash but you won't be getting a good exchange rate, and personally I just don't consider it very polite. The Mexican people have to then go stand in line at the bank to exchange it before they spend it, just like you would have to do.

So I think I'll exchange about $100 US or so at the airport, then as I find my way around I can find an ATM and (even with the associated fees) I can get more pesos. Is there anything I need to know about using the ATM's? For example will I need to understand spanish. No habla espanol. And are there some cards that won't be accepted. I mean that's my biggest concern. I'll show up ready to use my ATM and ut oh! My card won't work.

travelone (Aug 25, 2004 02:31 p.m.):
So I think I'll exchange about $100 US or so at the airport, then as I find my way around I can find an ATM and (even with the associated fees) I can get more pesos. Is there anything I need to know about using the ATM's? For example will I need to understand spanish. No habla espanol. And are there some cards that won't be accepted. I mean that's my biggest concern. I'll show up ready to use my ATM and ut oh! My card won't work.

The ATM's offer both Spanish and English language choice

VERY IMPORTANT I am shouting it because it cannot be stressed enough. ATM's in PV work with a 4 Digit Pin only.

Be for-warned.

Have a great vacation.

ANOTHER IMPORTANT THING (which is why I'm shouting too LOL)

Make sure your bank card carries the symbol for the Cirrus/Plus Network (little blue, star-like). If it doesn't have it on the back of your bank card, you may not be able to use your card outside your home country. That sometimes happens if you use a smaller credit union or an offshoot of a bigger bank (like me). Up until June of this year I couldn't use my ATM card in PV, because they didn't have the Cirrus/Plus Network connection.

Jennybean (Aug 25, 2004 07:42 p.m.):
ANOTHER IMPORTANT THING (which is why I'm shouting too LOL)

Make sure your bank card carries the symbol for the Cirrus/Plus Network (little blue, star-like).


mine is black coloured, but maybe because I'm Canadian and my money is worth 30% less
LOL