How/where would I get the best exchange rates for changing US $ into Mexican pesos?

Question

Is the exchange rate better in Mexico or in the states.

If in mexico. (Los Barriles Baja) is walking into the bank better or should I use an ATM machine and if so what bank .

Would US $ travelers checks pay a higher rate?

Answer 1

If you are walking around, you will see best rate.  Simply to driving around the gas stations for best price to get gas.  For example, if you look to buy pesos at a business place or a bank and see this rates

1) US$1 is equal to MX$10.50

2) US$1 is equal to MX$10.75

3) US$1 is equal to MX$10.60

Which is best exchange rate?  The answer is 2.  Be careful, some they are using commission rate.  Some of them are no commission rate.  I suggested you to check your reciept before say "Go Ahead".  I hope that this one will help you.  I used US travel check while I visited far south from border.  Also, I exchanged my cash in border town.

Answer 2

Some places will give you more for $100 dollar bills, I usually use my atm card from my credit union or my bank and usually only pay about $2 to my bank for atm fee. No they don't like travelers checks there and will usually pay a little less. I like the atm because I only have to change a little at a time. HSBC and Bancomer are 2 that I use there are a few others.

Answer 3

You will get the same exchange rate at any bank or ATM on any given day.  In many places you have a hard time cashing travellers checks.