James1953 asks

[james1953]

Does Chapala have ATM machines so a person could keep their money in their American bank and just use Debt to get cash or do I have to open a bank account there?

[synthia]

That's what has been recommended to me in other threads. There are ATM machines nearly everywhere in the world these days. Sometimes, if you are in a small town, you might need to take a bus.

[RVGRINGO]

Chapala has several ATM machines downtown in all of the banks, city hall, etc. There are also several in the Soriana supermarket and many more in nearby Ajijic, etc. Mexico is a 'cash society' and most folks can walk to an ATM within a few minutes in a town of any size.

[verdeva]

Another option for U.$. that comes as a surprise to many is the ability to cash a U.S./Canadian check at Intercam in Ajijic. Forum rules do not allow newbies (me) to post URL's, so all I can say is: intercam_com_mx - In Spanish only.

Very easy to set up check cashing services: Fill out a short questionnaire with basic info about yourself, provide a canceled check, and a 24-48 hour period for them to make sure you really exist. I make one or two visits a month and clear out my U.S. checking account.

- Everyone on staff speaks good to excellent English.

- They do not require that you have a savings account with them.

- There is no "up charge" for the service. Write a check and get the days exchange rate in Pesos or U.S. I believe that on availability of the funds or advance notice they can provide Canadian $'s and Euros.

- Intercam's exchange rate is good to excellent; on 10 Sept I received 10.87 Pesos to the U.S. dollar. Exchange rate calculator w/ history: x-rates_com

- Intercam is located next to the Oxxo (7-11 type store) on the carretera (main highway.) Many local folks may not know where Intercam is, but they will know where the Oxxo is.

- Intercam also has offices and Casas de Cambios (Exchange Houses) throughout Mexico.

- How big a check? When I asked this the response was "If it is more than $10,000US we'll need a day to process it. " I told them they didn't have to worry about it" . At the same time I've gone in when they had little or no dinero on hand. This is almost always because the armored car hadn't shown up. In defense of Intercam I must add that empty ATM machines are not uncommon here. This is especially true on weekends and festival periods (of which there are many.)

[RVGRINGO]

Welcome to the forum, Verdeva, and thank you for your excellent post.

[stevebrtx]

One thing I've found useful is an account with Compass bank NOB (North of the border). They refund any ATM charges worldwide. Also, they have been acquired by BBVA a huge world bank which also owns Bancomer so there will likely be some interchange capabilities soon, or at least at a reduced fee.

[RVGRINGO]

Welcome, Steve. For those who may not be familiar with "NOB" I have edited your post to explain the term.
For those expats who are ex-military officers, or their families, and are members of USAA Federal Savings Bank, there are no ATM fees for up to ten withdrawals per month.

[synthia]

I have an account that pays back the first 50 ATM fees for each year. Doesn't get me out of those foreign transaction fees, though.