Currency Exchange Game Dollar Vs Peso

[HF63]

Last year, I spent 6 weeks taking care of my mom in Mexico. This was the first time since the early 80's that I was back home for more than just 1-2 weeks. When buying or exchanging dollars your exchange rate changes drastically. Best exchange rate is at the top and worst is at bottom.



1. Credit Card, Capital One best exchange rate
2. My Schawb debit Card
3. Western Union
4. Cash/ dollars to pesos at local places
5. Cash in gas stations you get rape here


I would LOVE to have a bank account in the US w/ access to it down in Mexico.


How do you guys play this crazy game?

 

[MichaelB]

One way is to use a third party service like Wise, preciously know as TransferWise. You have bank accounts in both countries and use Wise to both transfer and exchange. Their exchange rates are competitive and the fees low.

 

[HF63]

One way is to use a third party service like Wise, preciously know as TransferWise. You have bank accounts in both countries and use Wise to both transfer and exchange. Their exchange rates are competitive and the fees low.

Thanks for the idea, I'll look in to Wise

 

[Surewhitey]

We use our debit card to pull from the ATMs. We then are reimbursed for the small fee and get the day before exchange rates. This was always the best way for us. I've noticed the exchange rate has dropped a lot the past few months...

 

[Spock]

There is a youtube channel by an expat in Mexico that has a couple of concise vids on exchanging funds. It was "Two Expats in Mexico" but looks like he changed it to https://www.youtube.com/@qroo

 

[HF63]

Since last year, the Mexican folks that depend on money from US for living are been strangle by the very low exchange rate: Last year it was ~ above 19 and currently is below 17 pesos. The price of the items in some cases have double easily.


In the past, the inflation of the items was caused by the Mexican peso been weaker to the dollar but know the opposite is true.



Is their a book or a website that one can learn more about this exchange game.


TKS