Jump to content
Sign in to follow this  
ampanda52

Questions about Credit Card Transactions in Mexico

Recommended Posts

Hi!  This post goes out to anyone who has gotten married or has used a credit card in Mexico.  I'm hearing that banks typically charge you 3% on all transactions using your card.  I plan to pay my balance of my destination wedding with mine and 3% could turn into a decent chunk of change.  Is this true and are there any ways to get around it besides carrying a load of cash?  Thanks!

 

Mandy

Share this post


Link to post
Share on other sites

Hey Mandy!

 

I believe any fees are generated by your own bank, not the Mexican bank the transaction is going through.  So, the best course of action would be to check with your bank to see what kind of international transaction fees they charge if any.  I occassionally use my US card down here and there don't seem to be any extra fees on my statement, other than sometimes a not super favourable exchange rate.

 

A couple of heads up though.  Mexico does have a reputation for credit card fraud so many banks will automatically blocked CCs once used down here.  Make SURE that your bank is aware you will be travelling to Mexico ahead of your trip.  I also try never to use my card at any really small shops or anywhere where my card will be out of my sight while they process it.  Keep cash on hand for small stuff.

 

Hope that helps!!

 

Happy Planning!

 

Sofia

Lori's Office Assistant

 

1000

 

 

*

Share this post


Link to post
Share on other sites

Sofia,

That helps ALOT!  I had already planned on calling my bank and making them aware.  I heard some people have asked the hotel to charge them in pesos instead of USD.  I don't know if that's a good idea or not.  :)

 

Thanks again!!!!

 

Mandy

Share this post


Link to post
Share on other sites

Hey Mandy,

 

I'm not sure how it works with the big hotels, but I know for sure that in town (smaller businesses), the amount in USD on the credit card machine is changed to pesos anyways but the Mexican bank handling the payment and charged to your bank in pesos.  Your bank then transfers it BACK to dollars (assuming you are in the US).  So, charging in pesos would avoid that double conversion.  But, I guess it really depends on what currency your bill is in and if they would have to "convert" it to pesos anyways...

 

Check out this link for the 2 exchange rates: BANORTE BANK.  Notice the buying and selling exchange for the dollar in the upper left hand area.  Those should help you figure out whether they are exchanging at a reasonable rate or not.

 

Oops, sorry if this post got a little confusing!  :)  Let me know if you have any questions!

 

Sofia

Lori's Office Assistant

 

*

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  


  • Best Destination Wedding Sponsors



    Facebook Pinterest Google+ Twitter
  • Posts

    • Yes, this happens all the time. One thing to consider is maybe to have the wedding at an off-site location where all your guests can go. There are several in Puerto Vallarta and Cancun Mexico. Most hotels offer a free wedding, but if a majority of guests are not staying there you'll be paying for not only the day pass, but for the food and beverage for each outside guest. Thanks - Sadie  
    • When it comes to your Wedding Clothes, it's pretty normal to be flooded by numerous choices that are available in the market like clothing style, pattern, fabric, and colors.  Absolutely, I liked this dress and I will never miss wearing this outfit for the wedding. Thank you for sharing this post.
    • Hi guys! Thank you for sharing the valuable information. Some students think, “How do I write my book review?” and are confused by this sort of task, and others are happy to do it and enjoy the writing process a lot. Such a difference in perception and attitudes is caused by the ambivalence of this task.
    • Hi All, I have just gotten in touch with a TA and we are in the process of getting quotes for our wedding in either DR or Mexico. Now she said something that I wasn't  aware of and I wonder how others handled this as I just can't believe that we are the only one in this situation. We feel we are asking our guests already a for a lot to come a long way to our wedding (our guests come from Canada and Germany) and there are a few that wouldn't want to miss it (like my partner's brother) but they just don't have a lot of money. Our budget doesn't allow us to chip in for flights and accommodation so we are basically asking everyone to save up money for our big event. Now we are planning the wedding at a resort that I know some of our guests can't (or don't want to) pay for. We were hoping to find a place where guests have the option to book themselves a cheaper hotel or an AirBnB nearby and only come to our wedding. Our TA told us that the resort might not allow that or only for a limited percentage of our guests. That is terrible news for us! I think that a good 50% of our guests will also stay at the resort for one, two or even three weeks but how can we 'force' other people to stay at the hotel of OUR choice?  I get that the resort would charge a fee for day guests and obviously we expect to pay for food and drinks but I didn't know that we would have to agree to a certain percentage of the guests staying at the resort. I don't feel we have control over that. How do others handle that?
  • Topics

×
×
  • Create New...