Focus On Mexico

Exchanging Currency

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  • Your home currency is easily exchanged in the Lakeside area. A variety of money exchange options are available such as:

    • Banks,
    • ATMs
    • Casas de Cambio (Money Exchange Houses)
    • International Money Transfers
    • Even some local stores

    The tabs below explain your various options for exchanging you currency into Mexican Pesos.

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  • Exchanging Currency

     

    Your home currency is easily exchanged throughout the Lakeside area. A variety of money exchange options are available such as: banks, ATMs and casas de cambio (money exchange houses).

    Your best bet is to use your home bank debit card at an ATM and receive pesos to pay for your shopping, dining out and other purchases, because you will receive the current exchange rate rather than the arbitrary proprietor's rate. All the typical precautions should be taken. Airports and Hotels typically offer the worst exchange rates and should therefore be avoided.

    The exchange rates vary hourly as well as daily on the World Exchange. The rates fluctuate constantly, and while this is not normally an issue, it can be quite confusing to some travelers.

    There are money exchange houses or booths, called casas de cambio, located throughout the Lakeside area. Just look for the sign, along with the exchange rates posted. Casas de cambio do not charge a fee or commission. They will exchange mostly from U.S. and Canadian Dollars into Pesos, although, some will also exchange Euros. They will also exchange travelers’ checks.

    Casas de Cambio (Currency Exchange Houses)

    Money Exchange businesses in Ajijic, ChapalaAlthough some people will accept U.S. dollars at Lakeside, the official currency in Mexico is pesos. (Canadian dollars, and other currencies, are more difficult to exchange, so we recommend you bring U.S. Travelers Checks with you.)

    There are several "Casas de Cambio" (money exchange houses) where you can exchange foreign currency. You can find some Casas de Cambio in Ajijic, there are also some in Guadalajara. In the Casa de Cambio you will be able to exchange your American or Canadian Dollars to Mexican Pesos. Quite often the Casas de Cambio will offer a better exchange rate than the banks. Some even offer check cashing facilities but you will need to establish an account and provide references – usually local people with established accounts.

    We recommend that you change $50 to $100 dollars to pesos (small denominations as large denominations are difficult for the small shops to change) before you come so you’ll have some peso change to work with.

    If you continue to maintain a U.S. or Canadian bank account, you will be able to use your universal bank card at most of the ATMs in Mexico, as well as your major credit cards to take out cash advances.

    On our Focus on Mexico Program you will learn the very best way to bring large amounts of cash to Mexico and convert into pesos at the best possible rate, potentially saving you thousands of dollars in exchange. If you are buying a home in Mexico, you may be surprised and pleased to learn that most houses in the Lake Chapala area that are for sale are in U.S. Dollars so it’s not necessary to change to pesos (although you have the right to do so if you wish).

      HiFX Currency Online 

    Currency Online Ltd has been a technology leader in the money transfer industry since the business started in 1986 delivering one of the world’s first online money transfer platforms in 1997.

    Through its parent company company, HiFX Limited, we have continued to develop our technology in-house, ensuring clients enjoy a simple and efficient experience when transferring funds anywhere in the world, 24 hours a day.

    Our system incorporates a world class CRM program and has straight through processing capability that keeps our costs as low as possible enabling us to provide better exchange rates to our customers.

     

    Not happy with simply being one of the first global online service providers, Currency Online and HiFX continue today to evolve the platform ensuring they are at the forefront of the online FX service market.

    Please note: Currency Online is unable to offer our money transfer services to clients located in the United States of America (USA) and residents of Quebec (Canada). For clients located in other Canadian provinces we can provide spot transfers (not forward contracts).

    All clients located outside of the United States and Canada can still use the service and make international payments to / from the United States of America (USA) and Canada.

    To register or learn more about transferring money internationally... 

     

     

     

    CanadianForex is a wholly owned subsidiary of OzForex, strategic investment of Macquarie Bank, Accel Partners and the Carlyle Group. CanadianForex is part of the OzForex Group which also includes OzForex, UKForex, NZForex and Tranzfers.

    Since its launch in 1998, the Group has grown to be one of the world's largest online foreign exchange companies by offering super competitive exchange rates, great technology and superb service.

    The Group is an independent, online foreign exchange provider that operates dealing rooms in Sydney, London and Toronto. Offering seamless 24-hour access to Corporate and Private Client Dealers, the Group completes over 200,000 funds transfers per year on behalf of Clients. A combination of knowledge and expertise has made the Group a significant player in the global foreign exchange marketplace, and one of the world's leading online foreign exchange services, with over 500,000 visitors per month and more than 65,000 transacting customers globally.

    CanadianForex employs a blend of cutting edge technology and superb customer service to bring a better deal to corporate and private customer alike. The Company's rapidly expanding client base includes small and medium-sized businesses that import and export goods, as well as migrants transferring financial assets, expatriates repatriating funds, and individuals investing overseas.

    To register or learn more about transferring money internationally...  

    Testimonials

    D Hall

    "A great service for anyone needing to transfer money. I had never transferred money before, you were very helpful and made it easy for me. I wouldn't hesitate to recommend your service. I was very impressed with the proactive, prompt & efficient service that you offered throughout the process, it's not very often you get to see it these days!

    An easy to use website, with a simple registration and transfer process and if you're converting the cash yourself, it gets quite exciting too! A very professional service that I would highly recommend
    ."

    Don MacDiarmid

    "I'm extremely happy with the service Canadian Forex has provided me. This was my first experience dealing with a foreign exchange company and I would like to compliment everyone with whom I dealt over the last several weeks. All of my questions were answered fully in a professional and respectful manner. I particularly appreciate the follow up emails and as well as the tips regarding currency movements. I plan to use your services for all of my currency transactions in the future. Sincerely, Don MacDiarmid. A satisfied customer."

    Ed Gilmartin

    "Our move to the US was incredibly stressful but the service we received from CanadianForex was outstanding. We could not believe the savings we made on the exchange rate by using CanadianForex instead of our bank. We asked the bank to check their rates twice thinking they had made a mistake as the savings seemed too good to be true. The CanadianForex service and the 24 hour access to dealers also left the banks for dead.
     

    Jane Rees

    "Thank you CanadianForex for saving us a fortune in the exchange rate compared to our bank's rates. The entire foreign exchange process was extremely smooth and hassle-free. We wish we had found you sooner!"

    M Sains

    "Thank you for your assistance in this transfer. Actually setting up and completing the transaction was very simple indeed, I will recommend you and your company if I hear of someone in a similar situation. It was all so simple and fast and when you compare to High street banks the rate is very competitive.

    Pete Beckhouse

    "Before discovering CanadianForex, we were sending funds overseas using the Canadian banks. Not only did this method take forever to process but it came with alarmingly high transaction costs! In contrast, CanadianForex provided a straight-forward, quick and risk-free way of transferring my money. The payments are always on time and the deal confirmations are highly professional and courteous. I will definitely be recommending CanadianForex to all my colleagues and friends."

     

     

    Mexico has a peso economyThe official currency of Mexico is the Mexican Peso.  Each peso, represented by the “$” symbol is worth 100 centavos, with the centavos being represented by the symbol "¢". Mexican peso coins are round and the 1, 2 and 5 coins have a golden/bronze center circle with a picture of the Mexican Coat of Arms (Eagle) in the middle with the outside surrounding being of silver color.  (The larger coins look somewhat like the Canadian loonie).  

    For easy calculation to know how much you are spending, just imagine every dollar to be worth $10 pesos (so a $200 peso item will cost you approximately $20 dollars).
     
    Universal Currency Converter - http://www.xe.com/.

    Mexican coins can be found in denominations of 5, 10, 20, and 50 cent (centavo) pieces.  The larger peso coins are worth 1, 5, 10 and 20 pesos.  The size of the peso coins reflects its hierarchy of value.The Mexican peso bills are printed in denominations of 20, 50, 100, 200, 500 and 1000 notes.  I will caution you that it may be difficult to change the $500 and $1000 peso notes.  Always carry small bills and change with you.  It is much easier on the small tiendas.  When you give them big bills, it takes all their cash (and maybe some of the next store’s) to give you change.  Try and get your bigger bills cashed at the bigger stores or banks and have small change on hand for the local tiendas, street vendors, buses and taxis.The bills are in different colors and easy to differentiate.In most stores, you will find prices in pesos.  However, be careful if you are in the cities and especially the touristy areas on the coast – occasionally they price in U.S. dollars.

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