Does the Santander Bank in PV accept us Dollars? for exchange.
I know in Acapulco they do not change anymore.
Thanks for your help..
Not sure, and even if they did accept dollars today there is no guarantee they would tomorrow. At the least you would need your Passport and would be restricted to the maximum monthly amount (I think its $1500). The easy solution is to simply
Not sure, and even if they did accept dollars today there is no guarantee they would tomorrow. At the least you would need your Passport and would be restricted to the maximum monthly amount (I think its $1500). The easy solution is to simply use your ATM card (Santander and other banks in PV have ATMs) where there are no monthly limits. There will be a daily limit based on your own bank and the local bank....which is generally $500 (US) per day..
More and more Mexican banks are opting out of exchanging dollars because of Mexican government regulations. ATMs are not subject to those regulations which is why its a great option (and convenient). Otherwise, there are local Cambios that will exchange your dollars...although the fees and rate might not be the best.
This topic is coming up more often. I wish I could find the article that I read recently that explained that the Mexican government is now insisting the all US dollar exchanges for any amount have to be reported; while the rule did exist before, it was not being enforced. It seems to coincide with the timing of forum posts about banks refusing to exchange US dollars.
I believe that if you want to exchange usd at banks you must also bring a color copy of your passport photo page that the bank keeps. Bring a few copies if you plan to exchange usd at banks. At least this is the way it was a few years ago. Easier to get/make copies at home than when you are in PV.
Might not be a bad idea for Canadians to bring color copies as well. Not sure it's required for them but it seems some banks are applying the same rules to cad as usd.
We find using ATMs much easier now. That works for us but might not for others. We quit exchanging usd quite a few years ago when a bank didn't have their exchange rate posted and gave us a really crappy exchange rate - less than the hotel's already crappy exchange rate. It all depends on what you are comfortable with doing.
Thanks for all the help.
Will try to change cash. if not have to use the ATM card. The bank charges at home a huge rate to get your own money from your account.
Get a PayPal debit card, they charge $1.00 per withdrawal.
If you have an account at Chase Bank (and possibly Bank of America), they will change dollars into pesos at a rate that is almost comparable to what you would get in Mexico. I changed money there on Thursday when the exchange rate online was fluctuating around 20.50 and got 19.16 pesos per dollar.
Color copy of passport?? Unusual as usually colored copies of official documents are not acceptable but maybe for bank..I am on file at banks I use ..interesting..
Maybe carry colored copy and black and white..
Hey Teduardo...I thought that Paypal charged 1%.At least that is how I interpreted it when I read the small print!
I just checked BofA 18.08:1 Not so good.Western Union 19.64:1