Obtaining Money in a Hurry in Mexico

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Mexico vacation and travel experts strongly suggest you obtain both travelers cheques, debit cards and Mexican auto insurance online before your travel begins. Buying Mexican Insurance online
allows you to make sure you get the policy you need at the best possible price. In addition, you can print your policy immediately, so theres no question as to whether or not youre covered. Review and compare Mexico Auto Insurance at mexicaninsurancestore.com for comprehensive, reliable Car Insurance for Mexico which is vital.

Upon arrival, travelers may sometimes find themselves in a situation where they need some quick cash. When visiting a foreign country like Mexico, some of the obstacles to obtaining cash may be the language barrier (for travelers not fluent in Spanish), exchange rates and dollar to peso conversions, and the ability to locate a safe method of obtaining cash.

Ensuring travelers receive the most pesos for their dollars, what if there was a way to eliminate the need to exchange money while obtaining cash? The answer may lie with bank ATM’s. Unlike hotel ATM’s that may charge exorbitant fees for the convenience of on-property withdrawals, some travelers may be able to locate a bank ATM that has international reciprocity with a recognized banking network.

To see if the bank participates, simply look on the back of your bankcard and see if any of the symbols or wording (although in Mexico it will most likely be in Spanish) matches up. If so, insert your card and attempt to make a withdrawal. You will always be given the option to decline the transaction if a fee is asked. In most cases, since the banking will be done within the network, there will not be any additional fees. Money will be withdrawn in dollars and distributed in pesos. A money-saving convenience, this also allows travelers to skip the currency exchange process.

If you must move forward with a currency exchange, national banks in Mexico will provide your best bet on obtaining an honest rate for the monies you currently have. National banks typically update their exchange rates frequently and according to international standards. This means that you will receive the “true” value of the money being exchanged. On certain instances, for example if the Mexican peso is at a higher rate when you arrive than when you leave, you’ll actually gain money during the exchange!

{ 1 comment… read it below or add one }

Toney Herlocker July 26, 2013 at 5:36 pm

I always make sure that I have quick cash whenever I go to Mexico. Although I’ve my credit card, it’s still a wise idea to have cash in my wallet, in case of emergencies.


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