Changing USD to Pesos in Puerto Vallarta

Old Feb 15th, 2011, 02:01 PM
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Changing USD to Pesos in Puerto Vallarta

I have recently heard that it is difficult to trade USD to Pesos in Mexico. And, if you can change it, it is only with a $100 or $200 USD limit? Is that true? I have an ATM card, but I like to carry some cash and change it if needed. My favorite money changer is across from the underground parking/park square near the Hotel Rosita. Is that money changer still there?
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Old Feb 15th, 2011, 02:09 PM
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True dollars are getting harder & harder to exchange & you get a lousy rate.
Many ATM's are now the "swipe" kind or ones you put in then take out before your transaction. Therefore not much danger of it getting eaten. Still take a spare just in case. Also it is very important to notifier your bank over your trip or they may block access.
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Old Feb 15th, 2011, 03:53 PM
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I don't know about that particular money change place by Rosita Hotel but there are many many "cambios" all over downtown, still changing money at decent rates. There have been reports about offical BANKS not changing money as you mention, but I've never heard that about the cambios (exchange booths, storefronts, or windows).

Stewbear, Are you sure about the "lousy rate" and difficulty for exchange, specifically in PV? I read daily on the TripAdvisor forum for Vallarta and no one has mentioned anything like you posted.
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Old Feb 15th, 2011, 06:32 PM
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Suze It's Mexico in general supposedly as a deterrent of the drug trade. I know in Zihua only one Canadian bank will exchange US/Canadian dollars & at about 10% poorer rate than you get with your ATM card.
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Old Feb 16th, 2011, 06:26 AM
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Yes I know it's true at regular BANKS in general around Mexico, but I am pretty sure things are still as per usual at the casa de cambios around downtown PV (decent rates, no problems with doing USD cash exchanges in reasonable amounts). They just don't want you laundering drug money (lol).
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Old Feb 16th, 2011, 07:04 AM
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Yes...Mexico has tightened the regulations up a little bit to cut down on the drug cartels money laundering, and businesses who attempt to avoid paying their taxes but it is not as bad as what some people are saying. You are restricted to I believe $300.00 USD a day and $1500 USD a month.

As for cambio's, its always best to go to a bank rather then a cambio on the street as non bank money exchanges always charge a commission of 1 to 3 pesos per dollar. The law also now requires that you present your passport to exchange money.

ATM's are a great way to get pesos as long as you notify your bank where you will be and additionally you need to see what the international charge will be to use your card outside of its home country or to see if your bank has an affiliation with a Mexican bank. I have found lately that the ATM's generally give a better exchange rate.

Finally, one option most tourist overlook is your ability to exchange your native currency into pesos at the departing international airport within your own country before you board your flight to Mexico. It is a great option that many people overlook. I Hope this info helps and we look forward to seeing you in warm, safe, sunny, friendly and fun Puerto Vallarta, Mexico

James
http://www.puertovallartarentalsnow.com
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Old Feb 16th, 2011, 07:19 AM
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Since the restrictions on exchange came in and some banks will not exchange dollars at all, the Cambios are now giving a lot lower rate than they used to. The one you mentioned beside Parque Hidalgo gives the best rate of any of the other cambios in town.
ATMs are still the best deal.
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Old Feb 16th, 2011, 10:50 AM
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I do not use ATMs since I have accounts here but my Yahoo group PV OldTownSouthSide members have reported a max of 300 usd per day. They are all over town and w recommend using ones which are located inside a bank to cut down on copying swipe info. Cambios, lesser value, are all over town but walk around and compare the offering rate since they sure do vary. I see ones farther from tourists give a slightly better rate. Been pretty crowded lately and the weather is blue blue blue sky!
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Old Feb 16th, 2011, 05:02 PM
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What's the exchange rate at the casa de cambio near Parc Hidalgo?
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Old Feb 17th, 2011, 07:16 AM
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"What's the exchange rate at the casa de cambio near Parc Hidalgo?"
when, today, I'm not going over there to check, but rates can change in the same day and tomorrow will be different, but usually only a few points. ATM rates can change hourly, they are connected to the internet.
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