AAdvanadium

Hello, my friend from Mexico will be visiting Warsaw and I'm trying to help them determine the best place to exchange money from Mexican Pesos to Polisz Zloty.

They only have a debit card, I know using a credit card would be best, but not an option unfortunately.

So they either would bring money on their BBVA Bancomer debit card (Libreton Basico), or bring cash as Mexican Pesos. I've heard BBVA charges heavy fees to use the debit card abroad.

Anyone know what the best option would be, to prevent losing a lot of money to exchange rates?

SusanP

Presumably they can withdraw cash from an ATM? That is generally the best way to get cash in Europe. You will get the best exchange rate. They would want to see what their own bank charges for withdrawals outside their system. It's still likely to be cheaper than exchanging cash.

AAdvanadium

Thanks Susan, it looks like BBVA charges 4.5% to withdraw cash from ATM's, and 3% to use the card everywhere else (restaurants, cafes, supermarket, etc.).

I'm not sure what their exchange rate is, BBVA, especially for MXN to PLN. I've been googling it, but can't find anything.

I think taking cash (at least half or more), and exchanging it there at an exchange bureau in Warsaw might be the best option.

The exchange rates seem very good actually. The actual rate is 1 MXN to 0.24 PLN. At many exchange bureaus in Warsaw it's 1 MXN to 0.235 PLN, quite favorable. They have "bulk exchange" where if you exchange for more than 3000 PLN, they give you a bulk rate, which is even closer to the actual exchange rate.

SusanP

Wow, I agree, those are high charges from the bank. In this case, you might be right to exchange cash. Guess I'm lucky, my account doesn't charge any fees, no matter where I make the ATM withdrawal!