Acapulco- ATM at the Pier?

[gargoyle999]

Is there an ATM at the pier in Acapulco? I'd like to get some Pesos and this is the first port stop on our cruise in a couple weeks.

[gomexico]

I don't know if there's an ATM machine inside the passenger terminal in Acapulco, but I wouldn't be surprised if there is. If you get there and there isn't . . . you will find several banks on the opposite side of the street at which you exit the terminal area . . . and just turn to your left and you'll see them and the ATM machines. The first bank is about a 5 minute walk.

[gargoyle999]

I don't know if there's an ATM machine inside the passenger terminal in Acapulco, but I wouldn't be surprised if there is. If you get there and there isn't . . . you will find several banks on the opposite side of the street at which you exit the terminal area . . . and just turn to your left and you'll see them and the ATM machines. The first bank is about a 5 minute walk.

 

Thanks for that info! That is certainly close enough if there isn't one in the terminal. I'll just wait until I get to Mexico to get my Pesos then.

[riffatsea]

Heard from a friend that dollars are accepted and pesos not needed! Any opinions????

[SDPadreFan]

Dollars are widely accepted in Mexico so it is not a problem if you wish to go that route.

 

Two additional schools of thought however.

 

1) You are a guest in a foreign country and it is a sign of respect to the wonderful Mexican people to use their currency. We pretty much expect people to use American dollars in our country. The exception being some "border towns" Try not to be the "ugly" American Tourist.

 

2) Getting the best value. Before the recent economic meltdown, pesos traditionally traded at about 11:1. During that time, using dollars in Mexico would normally be exchanged by local stores/restaurants at 10:1. When you would use dollars you would generally get peso's in change so you were really paying this little surcharge on both sides of the transaction. Currently, pesos are trading at 13:1 and the locals will still try to do business at 10:1 or 11:1 but they will still try to get a little extra on both sides. So your best value will be always paying in peso's.

 

One final thought. American coins are completely worthless in Mexico - leave them at home.

[riffatsea]

Gracias, Always try to be respectful of the country I am visiting!!!! Just checking out the advice I got.

My bank (Wells Fargo) has high ATM/foreign country fees(3%+$5) so was just wondering about it. Maybe Mexico is different than Spain/Italy in that regard??

Not planning to nickel/dime the trip just like info.

[gargoyle999]

I was wanting to get Pesos for both reasons 1 & 2 mentioned above.

 

I have Wells Fargo too. Looks like their website indicates it is a $5 fee to use an ATM or 3% for using your Visa check card. Here is the wording:

 

Wells Fargo will assess a $5 fee for ATM cash withdrawals made outside of the United States and a 3% foreign currency conversion fee for purchases made with your Check Card.

 

If I wanted to order currency from the Wells Fargo website it would cost me $13.14 "premium" for $2000 pesos. After the Wells Fargo $5 fee, any fee from the ATM bank plus any loss due to the exchange rate given it might be about the same to use the ATM. Guess I'll give it a try and find out!

[riffatsea]

It's NOT just the check card! ALL their ATM/debit cards pay them 3% of the transaction+$5. I have lots of experience with this in Europe but there the banks are a pain for changing money so I just use the ATM. In Mexico I thought it might be different . I don't know the rates at the Cambios(not banks) but maybe I'll ask the folks that live in Mexico on the Trip Advisor Mexico forums.

[SDPadreFan]

I was wanting to get Pesos for both reasons 1 & 2 mentioned above.

 

I have Wells Fargo too. Looks like their website indicates it is a $5 fee to use an ATM or 3% for using your Visa check card. Here is the wording:

 

Wells Fargo will assess a $5 fee for ATM cash withdrawals made outside of the United States and a 3% foreign currency conversion fee for purchases made with your Check Card.

 

If I wanted to order currency from the Wells Fargo website it would cost me $13.14 "premium" for $2000 pesos. After the Wells Fargo $5 fee, any fee from the ATM bank plus any loss due to the exchange rate given it might be about the same to use the ATM. Guess I'll give it a try and find out!

 

Wells Fargo is pretty pricey for all of their transactions. We had them for years. Their foreign exchange charges were pretty high [poor exchange rate+shipping charges=poor me]. On top of that, I was getting dinged $3 a month for internet banking access and another $6 for on line bill pay. So I was out $9 a month for just my simple checking account. Last summer (2008) we switched to a local bank. Interest paid on checking account + free online banking + free use of any banks ATM's (stateside) + free bill pay + rewards ATM/Visa Card. The difference - I was paying $108 a year to Well Fargo. With my new bank I have collected $33.28 in interest on my checking account and paid absolutely no fees so the net difference over 12 months was ($108) + $33.28 or $141.28 to the better. Plus, just this week I received a $250 credit to my checking account by cashing in my Visa Check Card Reward points that I used from travel purchases (paid for my cruise). So really, I'm $391.28 better off this year since I switched from paying Wells Fargo to making money from our new bank.

 

Hey Gargoyle, an offer for you. I can have my housekeeper (who lives in Mexico) bring me up to $200 in peso's for you if you wish. This is how I get my travel money because I see her every 2 weeks. Right now, that will come in at about $2600 pesos (or perhaps a little less because the peso's been getting a little stronger). You can pick any amount you want up to $200. I can call her and she can bring them up this Thursday as long as I give her enough notice. Then when we meet on the ship, you can pay me cash dollars for the peso's. She will find the best cambio (exchange) near her house in Mexico. If you have peso's left over at the end of the cruise, I'll buy them back at the exact same rate because I can always use them when we go to Cabo every year. Or you can keep them for your next trip. She's been providing me with peso's this way for years. So let me know ASAP.

[MMastell]

If you have a Wells Fargo, PMA (Portfolio Management Account) and a Platinum ATM/Debit card there are no International, or domestic, ATM fees.

 

I have used my Platinum ATM worldwide and love it.

 

To have a PMA account you do need to maintain at least $50,000 in deposits with Wells Fargo.

 

Take care,

Mike

[gargoyle999]

If you have a Wells Fargo, PMA (Portfolio Management Account) and a Platinum ATM/Debit card there are no International, or domestic, ATM fees.

 

That is exactly what we have on one of our checking accounts!! That is very good news.

 

SDPadreFan-Thank you very very much for the offer! :) Since we are planning on a land vacation to Mexico in Feb 2011 I'll give my ATM card a try so I can see what happens. I've never used Pesos on my other couple trips to Mexico but I'd like to start for the very reasons you've mentioned so I want to see if it works and how much it costs for any future trips.

[SDPadreFan]

No problem, hope it works out okay for you. FREE is one of my favorite words.

[riffatsea]

Interesting info about the fees/no fees at Wells Fargo.

We don't have any fees EXCEPT the ones for those pesky international ATMs. I think we'll get our pesos before we go since am not sure what Cambios will be open Sat./Sun. when we are first in port.

[gomexico]

Maybe we should step back a minute, to regain perspective:

 

Whatever the fees-for-use are, ATMs are incredibly convenient no matter the time of day or day of week we want to access funds. If we limit our use of the ATMs the fees will be so small - relative to the overall cost of the cruise and excursions, etc. - they're not worthy of much thought.

 

Remember, also, that there are fees tacked-on to your credit card purchases and when you use US$ in Mexico you typically don't get the best exchange rate, and, thus, will be payingl, indirectly, a "fee" for going that route.

 

I opt to do what's most convenient in travel situations such as this.