We noticed that you're using an unsupported browser. The TripAdvisor website may not display properly.We support the following browsers:
Windows: Internet Explorer, Mozilla Firefox, Google Chrome. Mac: Safari.

Rate Exchange: CAD to Pesos?

In cooperation with: Visit Mexico
Montreal
Level Contributor
803 posts
61 reviews
Save Topic
Rate Exchange: CAD to Pesos?

Anyone happen to know the rate exchange for Canadian to Pesos at the Ci Banco next to the Tortilla Real Maya?

Last time we exchanged Canadian to Pesos and it was treated equal to the US (1 CAD or 1 US =13 pesos) which we thought was a good deal. Hubby wants to take US money this time as he doubt it will be the same this time but I don't agree with him. Any thoughts?

Vancouver
Destination Expert
for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
Level Contributor
44,143 posts
Save Reply
1. Re: Rate Exchange: CAD to Pesos?

You will lose 5-7% getting US$ in Canada - then lose again getting pesos

Why not use the ATMs in Isla and just get pesos

That's what many of us do (and most if not all of the experts)

Canada
Level Contributor
1,192 posts
83 reviews
Save Reply
2. Re: Rate Exchange: CAD to Pesos?

At the end of September, it was 11,60 to the Canadian dollar at CI. If I calculate the fee with it, a withdrawal from my TD account at Banamex gave me a slightly higher rate at 11,87 but not by much as you can see.

There is no advantage to converting CAD to USD to MXN.... I always bring a little bit of US money to use as a backup and because I usually transit through the US but it's not necessary.

Have a great trip!

Vancouver
Destination Expert
for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
Level Contributor
44,143 posts
Save Reply
3. Re: Rate Exchange: CAD to Pesos?

I also get about 3,000 $ pesos in small bills from my local exchange house for about 11.5

Then use ATMs to get large bills

Montreal
Level Contributor
803 posts
61 reviews
Save Reply
4. Re: Rate Exchange: CAD to Pesos?

I'm always afraid of using the ATM machines on the island. I guess we could go to the Banamex to withdraw money. From what I understand there's a fee each time we withdraw money but is there a maximum amount that we can take out? Here in Canada we have a limit of 500$ I believe.

Thanks all for the info, that's the kind of info I needed :)

Canada
Level Contributor
1,192 posts
83 reviews
Save Reply
5. Re: Rate Exchange: CAD to Pesos?

BTW, I have had bad luck with my Desjardins card in Mexico, just in case that is your bank. Often doesn't work, it's one of the reasons I opened a TD account. Banamex has always been good to me, plus, the ATM can't swallow your card. Fee for withdrawal with TD is $3 and the most I seem to be able to take out in one withdrawal is 4k MXN.

Vancouver
Destination Expert
for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
Level Contributor
44,143 posts
Save Reply
6. Re: Rate Exchange: CAD to Pesos?

quote: Here in Canada we have a limit of 500$ I believe

That is your bank setting this limit - it will apply anywhere (Mexico, England, Canada)

To lesson fees, get a Scotia or HSBC account in Canada as these 2 banks have many Mexico branches

I use President's Choice and Scotia - never had a problem using bank atms

Montreal
Level Contributor
803 posts
61 reviews
Save Reply
7. Re: Rate Exchange: CAD to Pesos?

Thanks Gatine, we have a TD account so that's good and 3$ for 4K isn't that bad...I also heard that Desjardins doesn't work on IM.

That's pretty low 11.80 for 1 CAD! Last July we got 13.05 something.

I could consider opening an account with HsBC but then again, if u don't put a certain amount of money in it, you'll be charged a monthly fee which I refuse to do.

Isla Mujeres, Mexico
Level Contributor
147 posts
Save Reply
8. Re: Rate Exchange: CAD to Pesos?

The exchange rate varies day to day. HSBC has one of the most expensive transaction charges, 3% of the amount requested, so if you withdraw an amount around $500, the transaction charge is $15. This is for HSBC withdrawals on an HSBC account.

Vancouver
Destination Expert
for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
Level Contributor
44,143 posts
Save Reply
9. Re: Rate Exchange: CAD to Pesos?

the transaction charge is $15 for HSBC - REALLY

I withdraw from HSBC ATMS all up and down the coast from my Canadian bank. $3 cnd from my bank (normal for every ATM outside my country) / 20-30 peso fee from the HSBC ATM

The Bancomer fees were over 60-70 pesos - they were too expensive

Edited: 9:36 pm, October 13, 2013
Vancouver
Destination Expert
for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
Level Contributor
44,143 posts
Save Reply
10. Re: Rate Exchange: CAD to Pesos?

Maddams - useful if you put your country / location in your profile!!