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Changing Canadian Funds in Mexico? Changing Canadian Funds in Mexico?
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It's going to be a long 300km...
Bolivian Amazon



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  #1  
Old 18 Nov 2016
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Changing Canadian Funds in Mexico?
So before leaving Canada, i spoke with a Mexican Canadian... he said i would have no issue exchanging my canadian dollars at banks down here. To my surprise, Im here in Hermosillo and no bank or casa de cambio wants my canadian funds! Any advice?
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  #2  
Old 18 Nov 2016
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If you have an ATM card (a debit card) issued by your Canadian bank, just go find an ATM that is part of the same network (Cirrus, Maestro, etc. - check the logos on the back of your debit card) and withdraw funds from your Canadian bank account. The local Mexican ATM might impose a small fee, for example $2.50 or similar, for the withdrawal, but you will get a far better exchange rate than you would get changing Canadian banknotes at a Mexican bank or currency exchange.

Carrying cash from your home country (or internationally recognized cash, such as USD or Euros) and exchanging banknotes at a bank or cambio is "so last century". Just use ATM cards instead. You might have to inform your home bank that you are travelling internationally, if you have no record of prior international use of the card. But once your home bank's computers pick up on your record of travel & card use, you won't have to notify them again for the same destinations.

Michael
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  #3  
Old 18 Nov 2016
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Scotiabank Mexico will exchange Cdn. There should be at least one in Hermosillo.
More touristy spots will also exchange Cdn.
Otherwise just use an Interac debit card in any ATM. There will be several around.
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  #4  
Old 19 Nov 2016
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Go to the biggest Casa de Cambio. You'll have better luck if you are a Scotiabank Canada customer. Speak with the bank manager firs go to a large branch and they should have a receptionist on the desk. I have never had an issue changing back Canadian funds. Do you have dollars or Canadian travlers cheques? Travlers cheques are now useless in Mexico. I believe only two banks in Mexico City will exchange them.
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  #5  
Old 19 Nov 2016
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On my last trip through Europe, North Africa and the Baltic, I had $100.00usd stashed in my wallet as a "life saver", hoping I won't have to use it. I indeed never touched it. Otherwise, whatever the country, I was using a debit card to get local currencies. Then when I was out of money from my personal bank account, I widthdrew from my credit card at the ATM machine. I so love GPS and debit cards for travelling... ;-)
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  #6  
Old 24 Nov 2016
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Thanks mikemike for a solution, the best casa de cambio did the exchange. No banks, not even Scotia would do it.

I realize my bank card and credit card work in pretty much all the atms here... and yeh, gave up on travellers cheques 10 years ago. But thanks anyways
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  #7  
Old 25 Nov 2016
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Glad it worked out. Scotiabank in Canada are great, they suck in Mexico!
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  #8  
Old 25 Nov 2016
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Quote:
exchanging banknotes at a bank or cambio is "so last century". Just use ATM cards instead.
Yeh, right. We got to San Pedro DeA and ALL of the ATMs were out of action AND they stayed out of action all day and next morning they were still out of action. We had no fresh food and no Chilean money and not much fuel either. BUT we had foreign money and the local money changers were happy to change it when the banks weren't interested. We ate that night and were able to drive out of town.
Same thing happened three times up and down Argentinian Andes. No fuel station accepted credit cards and ATMs wouldn't accept our cash cards. Local businessman was happy to swap dollars for pesos.
And then there was the time in western China ....

As for internet banking!! Never been anywhere where the whole internet system was down AND all the POS terminals and all the ATMs were down - all day. Yes, cash is so last century which is why it still works when this century reverts to last century.

No way would I travel anywhere without a decent supply of US dollars and some euro as well.
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  #9  
Old 10 Dec 2016
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Last resort: carry a few British sovereign gold coins - each worth about US$250-275

Charlie
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