Cheque! - Es cuenta wey!

elchrist · Posted: 03 Feb 2003 02:19 PM Post subject: Cheque! - Es cuenta wey!

A few of us were having an interesting discussion the other day about paying for your bill at a restaurant Mex. The topic on hand was paying with your credit card and getting a better deal on the monetary exchange rate. This was supposedly caused by the bank or credit card processor being located in Mexico City or another non-frontera based city where the exchange rate for MXN to USD is higher.

I rarely pay with my credit card and usually pay cash or with a debit card, so I've never been aware of any savings. Does anyone have any facts or experiences regarding this?

chainsmokinmonkey · Posted: 03 Feb 2003 07:45 PM Post subject:

that's the first time i've ever heard of that. i always thought that when you payed with a debit card or credit card, you got charged that countries currency. how the exchange rate works i always thought was the same. i know a couple of people that work with credit companies and banks. i'll try to ask and see what's up.

Mr.Tasty · Posted: 05 Feb 2003 10:19 AM Post subject:

I bought some books at Sanborn's and the total was 264 pesos. When my statement came they had charged me $16.50 and at the time the exchange rate at the casas de cambio was like 10.45. I only save a couple bucks because it was such a small quatity, but if you make a big purchase, I'm sure it makes a hell of difference.

elchrist · Posted: 05 Feb 2003 11:14 AM Post subject:

watts · Posted: 07 Feb 2003 12:06 PM Post subject:

Banks always get the best exchange rate. So if you use a credit card or a debit card in Mex (or any other country for that matter) you'll get the best exchange rate. Also, charges made are always in the foreign currency.

chainsmokinmonkey · Posted: 08 Feb 2003 11:00 PM Post subject:

so it is true?! cool! i can't wait to try it out in mex. if i'm satisfied, then i can't wait till i do some real travelling.