See also Banking for more current info
A quick update to the ATM fee situation I posted on 25 Feb 05. As posted elsewhere in this wiki, some American banks have affiliates in Mexico that do not charge for the use ATM cards from the affiliate U.S. bank when you use it in Mexican ATMs. So one solution to avoid the ATM fee is to determine if your bank has an affiliate in Mexico. I made 4 ATM withdrawals in February at various banks in Mazatlan and was charged a total of $12.00 for the withdrawals (or $3.00 per withdrawal). That's steep even by U.S. standards. I checked with my bank and they assure me they did not charge anything for those ATM withdrawals, so the fees must have been applied at the Mexican bank ATM.
Andy P - 25 Feb 2005
I was in Mazatlan two weeks ago and used a number of different ATMs to withdraw money. I was surprised to find that, unlike my last visit in April 2004, the banks where I withdrew money now apparently charge for this service. I don't recall the exact fee, but it's something on the order of 7 pesos. Now, I was using a bank ATM card that I had never used before in Mazatlan, but it has essentially the same logos on the back as my previous ATM card (Plus and Star). I checked with my local bank when I got back and they told me that they did not charge for the transactions in Mazatlan and so it would have been the local Mazatlan bank where the ATM was located that charged the fee. I have a cousin who is a former branch manager at a Mazatlan bank and I've asked him to determine if this fee is standard throughout Mexican banks in general and Mazatlan banks in particular and will update this post when I have an answer (especially if it turns out there are ATMs you can use that do not charge a fee).
ATM Advice
MarleneSantana - 10 Dec 2003
Before you embark on your trip abroad, go to your bank and ask for a duplicate ATM card. This is easy to do and could save your vacation. Since losing my ATM card (and every other card I owned) in unfortunate circumstances 3 years ago, I had a duplicate card tucked away for such an emergency. Thankfully so, because today I put my card into the stand-alone Banamex machine in Sam's Club, never to be seen again. The money guys had just paid a visit, did their thing, closed the machine and smiled broadly at me "Listo" (it's ready)... NOT !!... Gobble, swallow...burp. My card was gone, the machine went out of service and the rest is not pretty. Now, you can forget ever getting your card back again if that happens to you. You can certainly forget any help from anyone within hearing range in Sam's Club. But "for your own security" the card will be chopped up. Trust me, it was a frustrating day of explaining why I could possibly need the card back. Eating, paying bills, etc came up in that conversation. It won't happen folks. Bring the extra card, and never use a stand alone machine. Always use one that is in a bank and preferably during banking hours. The customer service rep on one of our stops to sort this out told us that she would go and open that machine for us if it had happened in her bank....that may or may not be the case, but it is at least worth a consideration. Definitely do not chance the Banamex ATM in Sam's Club. This is not the first problem I have heard about at this machine.
Casa de Cambio - Personal US and Canadian checks
DavidBodwell - 13 Dec 2003
For you folks who live here, from 6 months to all year, there is a BETTER way of getting your money down here at a better exchange rate! It's a little known Casa de Cambio called Intercam. They specialize in taking personal US and Canadian checks and giving you pesos. And they give a better rate than the banks. And you get a 4-6 day float before your check clears in the US or Canada! Also, if you need money wire transferred you can have it transferred to yourself c/o Intercam and you'll not only get a better rate than the banks give, but you'll avoid the fees many of the local banks charge for receiving a wire transfer. They will also cash personal dollar checks you have been given by someone else as long as you guarantee them. They will NOT cash any US govt. check or US Post Office money order.
I don't think this service is for tourists as I had to give them copies of my FM3, passport, and utility bills in my name to get set up with them originally. Since being referred to them by my bank manager I've used them for all of the above services and continue to use them monthly. The manager is L.A.E. Miguel Ochoa and he speaks good English. They are located at Boca del Mar # 8, Suite # 4 in the Zona Dorada (this is a 1 block long street that runs east-west between Playa Gaviotas and La Laguna. Turn right just past all the jewelry stores). Tel. 916-7517