Not that the regulars on this Forum need to be told, so just a reminder to avoid currency exchange counters at the airport. I'm currently at the Calgary Airport (YYC) waiting for my flight to Mexico City and and out of curiosity I stopped at the currency exchange place to check out rates. The £Pound and €Euro are both costing over $0.20 more per dollar than I can order through my bank; which is still higher than I could likely get if I went to a bank's ATM in Europe. At my bank I can buy the £Pound right now at $1.90 (Canadian), the currency counter is charging $2.12 plus a fee. The Euro is $1.61 (Canadian) at my bank and is $1.83 plus a fee at the counter.
Posted by
Hobart Tasmania
519 posts
Mate, hope you are drowning in Pesos.
Regards
Ron
Money does not change people, people change. Bad Bunny
Posted by
OP
Calgary, Alberta, Canada
5749 posts
Ron, if I had to pay for everything in cash I would be drowning. My hotel bill For this trip will work out to about $36,000MXP. For the little bit of cash I did bring, I was mainly given $100MXP notes. If my math is correct that would be 360 bills.
Posted by
Palm Springs area, CA. USA (winters)🌴☀️ Nomadic (Spring thru Fall)
3922 posts
Allan, I wish more people knew this. We just landed yesterday at the Los Cabos airport and so many people using the currency exchange counter. Total rip off. We kept going through the airport and found the ATMs by the exit.
Posted by
Peterborough, ON, Canada
1829 posts
Enjoy the warm weather Allan. Are you escaping a very cold snap?
Posted by
The Heartland USA
9638 posts
What would people consider a fair price? At the airport, you're paying for the convenience and some are willing to pay that. It's a service and they have to pay rent for the floor space and wages for their staff.
Posted by
OP
Calgary, Alberta, Canada
5749 posts
Andrea, 29 degrees here, a 49 degree difference from home.
Stan, I guess when it comes down to it, a fair price is what you're willing to pay.
Posted by
The Heartland USA
9638 posts
Allan, I agree. I've seen many times when some travelers, even when aware of the costs, will still choose high cost exchange rates or even DCC, just for the convenience.
Posted by
Republic of Texas / U.S.A. / Magyarország / Budapest
25959 posts
That booth in the airport is expensive to rent and operate, so customers pay for it.
To the point that convenience will cost ... yup. I try and plan so I have what I need, when I need it. But that doesn't always work out. I have no problem with paying for convenience if the convenience is worth the cost. I can appreciate those that have a conniption fit because the ATM fee just made their $20.000 holiday cost $20.002.63
Posted by
OP
Calgary, Alberta, Canada
5749 posts
I have no problem with paying for convenience if the convenience is
worth the cost.
That's my logic with credit cards that offer no conversion fees. The only one I've found through my bank has an annual fee of $250. My current credit card charges me 2.5% which equals only $25 for every $1000 spent which mean's I'd need to spend $10,000 in a foreign country in a year to make my money back. I'll keep my current card and it's airline points which are far more valuable than the currency fees savings.
Posted by
Republic of Texas / U.S.A. / Magyarország / Budapest
25959 posts
Allan, my card has an annual fee. I just told them if they were going to charge it, I would take my money someplace else. They have waved the fee for .... gee, I think about 15 years now. I needed about $15.00 for a tip for a professional service provider the other day. I could have walked about 6 minutes to the bank and 6 minutes back in 30F misting weather and only been a little late for my appointment or I could go the EuroNet machine next door and end up paying $18.00 for the $15.00 tip. Tough decision. I was on time for my apointment (torn rotator cuff therapy).