How do I pay my rent in $US?

[circle110]

I have my money with a US investment firm that gives me a checking account as part of their package. They refund all my international ATM fees (including the 7.5 peso charge). So, I don't have to pay anything to access my money and the maximum daily withdrawal is high enough that it hasn't been an issue for me. It's something you may want to look into if you have options on where to put your US money.

[yale69]

Originally Posted by pvtexmex

I have lived for 6 years in Puerto Vallarta and have basically lived by taking ATM withdrawals against my American checking account. There is a $5 non-bank ATM charge plus a 1% foreign exchange fee (at my bank). I always withdraw the maximum amount to minimize fees. Now I also have a Mexican checking account set up so that I can wire money to that account from the US. I also stash my "surplus" dollars in the Mexican account, and of course there are no ATM fees or foreign exchange fees on that account. There actually are a limited number of ATMs here that I can use without the non-bank ATM fee but they are not conveniently located for me. I had rather walk a few blocks down the street and pay the $5. I suppose the "preferred method" is whatever works for you. Mexico is a continual learning process.

my bank in the states, compass/bbva is a sister bank to bancomer. i only get charged a 1% fee for atm withdrawals at bankcomer, which is just down the street. works out fine for me.

thanks

[pvtexmex]

I have been doing this for over 6 years. You get the best exchange rate at an ATM, plus they are avaialble 24 hrs. a day. I have an account at a brokerage-cambio house where there are no charges at all, plus there some ATMs where I can uses my card without charge. I would rather walk the short way to the ATM at my Mexican bank and pay the 5 dollars (on my US account, free on my Mexican account) than to take a taxi or a bus and use up a large part of the day just to get money. My total charges run about 35-50 dollars a month, and I am willing to pay for the convenience.

[yale69]

Originally Posted by yale69

my bank in the states, compass/bbva is a sister bank to bancomer. i only get charged a 1% fee for atm withdrawals at bankcomer, which is just down the street. works out fine for me.

thanks

hii

that's exactly what i've started doing, as i use compass bbva as well. i was thrilled to see they only charged me 1% (and refunded that when i got back to the states)

[pvtexmex]

I have an account with BaNorte, but it is not affiliated with my US bank. The ATMs that I can use without charge are not convenient for me, so I pay the non-bank ATM fee plus a 1% foreign exchange fee when I draw on my US account. Withdrawals from my Mexican account are free, of course. This is really not a big deal. I am not going to have to sell Chiclets on the street to recoup the money.