Job Discussion Forums

williejean23 · Joined: 24 Nov 2006 Posts: 20 Location: Canada

I have never left Canada before, and I am driving to Mexico the end of this month. Can I use my debit card or do I need to use cash?

Thanks

Guy Courchesne · Joined: 10 Mar 2003 Posts: 9650 Location: Mexico City

Debit cards are fine. If you use a small bank, such as a credit union, you may be charged high fees, but if it's a major bank, no problems. In many places in Mexico, there is a daily withdrawal limit, often set at 300 usd. But you probably won't need to take out more than that in any one day, and if you do, then don't forget to invite all your Dave's friends...drinks would be on you!

scottmx81 · Joined: 26 Oct 2006 Posts: 64 Location: Morelia, Mexico.

Canadian bank cards work fine to withdraw pesos from Mexican ATMs. Don't expect to use it for Interac type purchases at stores. Especially not at gas stations like at home. Best to keep a wad of pesos with you at all times as even credit cards are not widely accepted outside of the major stores, and again, not at gas stations or toll booths (giving you lots of warning since you're driving down). I'd probaby go buy $100 CDN worth of pesos at the mall in Canada, even if its at a crappy exchange rate, so that you can get out of the border city and hit the toll highway into the interior, etc, as soon as possible after crossing into Mexico.

If you prearrange with your bank in Canada to up your withdraw limit, you can take out very large sums of money from some ATMs. Many Bancomer ATMs will allow you to take out $1000 CDN in one transaction. Scotiabank seems to be $3000 mxn as Guy suggested, Banorte is $5000, I think HSBC is $4000, don't know about Banamex as I wouldn't touch one of their ATMs with a ten foot pole.

I pay about $6.35 CDN per withdraw with the Royal Bank. That is $5.00 PLUS fee, $0.50 transaction fee, $0.85 Mexican bank fee.

hlamb · Joined: 09 Dec 2003 Posts: 431 Location: Canada

I'm with TD and I can withdraw money in Mexico for free, up to 3000 pesos a day. When I was travelling I took out the maximum each time and made sure to visit a bank again before getting too low. As others have said, don't expect to be able to use credit cards here. My credit card is mainly my emergency plane ticket home and not much more.

Samantha · Joined: 25 Oct 2003 Posts: 2038 Location: Mexican Riviera

I am a TD customer as well and have actively used my Canadian issued visa card here for nearly 7 years, throughout Mexico. It is not a problem, but do tell your bank you will be in Mexico or they will make you come to the phone to verify you are you. It's embarrassing in front of a long line of people in the grocery store or Sam's Club. I always keep 2 ATM cards on hand. One for the machine to devour and one for me to have as back-up. The Canadian bank will set your daily and your weekly withdrawal limit, so after a few days of heavy withdrawals, you will have a freeze until the next week. Not great if you are buying a car or similar or need groceries after day 4! Find out your daily AND your weekly withdrawal limits BEFORE leaving Canada. I think this policy is a precaution for the express kidnapping thing. The one thing people don't seem to realize is that even if the Mexican bank has a $3000.00 peso limit, there is nothing to stop you from doing two withdrawals or three...you will pay the fees each time so better to figure out the banks that give you the cash you need in the first draw... HSBC and Bancomer seem to do it for me.

DavefromWandsworth · Posted: Thu Jan 04, 2007 4:49 pm Post subject:

I support the advice that you have a spare ATM card. Mine was �devoured� by a machine and I have no reason to suspect irregularities in my account. Charges for using an ATM, at least those levied by UK institutions, vary significantly.

hlamb · Joined: 09 Dec 2003 Posts: 431 Location: Canada

business2300 · Joined: 14 Nov 2006 Posts: 60

Is there any way to cash checks, personal or pay, without an account?

ls650 · Joined: 10 May 2003 Posts: 3484 Location: British Columbia

I think the short answer is 'no'.

Samantha · Joined: 25 Oct 2003 Posts: 2038 Location: Mexican Riviera

Intercam has a service here in Mexico for foreigners needing to cash cheques from out of the country. Very popular with realtors and anyone doing business with folks outside Mexico. Check this link for the nearest location to you in order to find out criteria to open an account with them. It may be you have to own property or be well established here in business to qualify but each location has it's own manager. They do give fair warning that you are responsible if a cheque goes bad because they front the cash same day, long before a cheque clears through the foreign bank.

http://www.intercam.com.mx/webintercamingles/index.htm

P.S. ls650 is right, from my experience, in that no foreign cheques can be cashed by regular banks here. Guy is correct in his answer for local cheques. I do that all the time and no ID is necessary. If you lose the cheque before you get to the bank, you are SOL. Whoever finds it can cash it.

Guy Courchesne · Joined: 10 Mar 2003 Posts: 9650 Location: Mexico City

You can cash them only if the check is made out to 'al portador' (to he who carries it), and you have to do it at the issuing bank - I believe.

MamaOaxaca · Joined: 03 Jan 2007 Posts: 201 Location: Mixteca, Oaxaca

I just want to ad, if you have a Mexican bank account, you can cash US checks, either personal or cashier's check's by depositing them into your account. It will take 20 business days for the money to appear in your account. But Mexican banks have wierd deposit rules, like "you can never deposit an amount larger than your annual average balance" Shocked

and such strang mysters that are ment to "make money laundering difficult" in seem more like a way to keep the poor down to me. Confused