Updated: Apr 7
If you are visiting Mexico, moving to Mexico, or already living in Mexico, you will need Pesos as soon as you arrive. There are multiple ways to get Pesos but the best option to use in the airport is the ATM. However, you need to know about the scam, called dynamic currency conversion, that happens at all ATMs in Mexico and worldwide. Today, we look into details of dynamic currency conversion to know exactly what to do to avoid losing money. We show several examples of ATM withdrawals and compare the Mexican bank's exchange rates, using dynamic currency conversion, the US bank, and Transferwise and Rappi. To avoid losing money is as simple as making the right selection at the right time. Depending on the number of Pesos you are withdrawing, it could save you real hard-earned cash.
Living in Merida, Mexico, I must make the correct selection every month for the best exchange rate. If you plan to move to Mexico or retire to Mexico, make sure you get the best exchange rate possible when converting dollars to pesos, and watch this video to save money. Take a look at the video below. With the money you save, please consider becoming a subscribing MexConnect member to help us continue to make great content that adds value to everyone moving abroad to Mexico.
Until Next Time,
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