Last edit by: raffe
What we have learned so far in this thread
- A ATM is called Cajero.
- When withdrawing money, decline exchange rate: “When the ATM asks you if you would like to accept their exchange rate, click DECLINE!!!!!!!!!! I cannot emphasize this enough. You should always decline their conversion offer and process the transaction normally”. according to https://beachpleasemexico.com/pesos-...in-mexico-atm/
- Good cajeros are the ones that are owned by the banks, like the bigger ones:
- Santander
- Banorte (~45 pesos per transaction)
- Also
- Intercam
- Inbursa
- CIBanco
- Banco del Bajío
- Banks, but higher fees
- BBVA Bancomer (~100 Pesos per transaction)
- Scotiabank (partnered with Bank of America)
Mexico city ATM best practice
#1
Original Poster
Join Date: Dec 2021
Programs: Eurobonus
Posts: 38
Mexico city ATM best practice
Going from Sweden to Mexico City one week in August, and as not all places accept cards, we need cash.
I have Googled some, and have found this info.
2. Are there any differences between the ATMs in the airport and the ones in the city, like maybe there are some extra fees on the ones in the airport? Or does it not matter if you withdraw money at the airport or in the city?
I have Googled some, and have found this info.
- A ATM is called Cajero.
- When withdrawing money, decline exchange rate: “When the ATM asks you if you would like to accept their exchange rate, click DECLINE!!!!!!!!!! I cannot emphasize this enough. You should always decline their conversion offer and process the transaction normally”. according to https://beachpleasemexico.com/pesos-...in-mexico-atm/
- Good cajeros are the ones that are owned by the banks, like the bigger ones:
- Santander
- Banorte (~45 pesos)
- Also
- Intercam
- Inbursa
- CIBanco
- Banco del Bajío
- Banks, but higher fees
- BBVA Bancomer (~100 Pesos)
- Scotiabank (partnered with Bank of America)
2. Are there any differences between the ATMs in the airport and the ones in the city, like maybe there are some extra fees on the ones in the airport? Or does it not matter if you withdraw money at the airport or in the city?
Last edited by raffe; Apr 25, 2023 at 5:42 am Reason: Editing "good" banks. Thank you Global Adventurer
#2
Join Date: Mar 2019
Location: Mexico City
Programs: Hyatt Explorist, Hilton Gold, Marriot Gold, IHG Silver, Choice Platinum, Wyndham Gold
Posts: 3,846
Banorte and Santander are the best and the only ones I use with low fees. I use a Wise card too. The fees in the airport could be a little higher haven't ever used them. But not enough to make a difference as you may need pesos to tip the taxi or bellhop at your hotel if you have one. Just stay away from BBVA.
For instance Banorte (the only bank ATM I use) charges approximately 45 pesos per transaction no matter how much money you withdraw. BBVA the last time I checked was over 100 Pesos.
Last edited by Global Adventurer; Apr 25, 2023 at 5:16 am
#3
Original Poster
Join Date: Dec 2021
Programs: Eurobonus
Posts: 38
This information is definitely wrong. BBVA and Scotiabanks are the worse with their fees. But if you're a BoA customer it may be ok. Both of these banks have high fees. BBVA is the worse bank in Mexico for fees.
Banorte and Santander are the best and the only ones I use with low fees. I use a Wise card too. The fees in the airport could be a little higher haven't ever used them. But not enough to make a difference as you may need pesos to tip the taxi or bellhop at your hotel if you have one. Just stay away from BBVA.
For instance Banorte (the only bank ATM I use) charges approximately 45 pesos per transaction no matter how much money you withdraw. BBVA the last time I checked was over 100 Pesos.
Banorte and Santander are the best and the only ones I use with low fees. I use a Wise card too. The fees in the airport could be a little higher haven't ever used them. But not enough to make a difference as you may need pesos to tip the taxi or bellhop at your hotel if you have one. Just stay away from BBVA.
For instance Banorte (the only bank ATM I use) charges approximately 45 pesos per transaction no matter how much money you withdraw. BBVA the last time I checked was over 100 Pesos.
#4
Original Poster
Join Date: Dec 2021
Programs: Eurobonus
Posts: 38
I found here https://www.nomadicbackpacker.com/lo...es-mexico.html a list of ATM fees:
- There are no ATMs in Mexico which offer free withdrawals.
- BanCoppel bank ~ 29 Pesos
- Banorte ~ 46 Pesos
- CitiBanamex ~ 30.74 Pesos
- Santander ~ 36 Pesos
- Scotiabank ~ 100 Pesos
- BBVA bank ~ 174 Pesos.
- Cibanco allows 10000 pesos (around 500 USD)
- HSBC allows 15000 Pesos per withdrawal
- Santander atms in Mexico can give you 9000 pesos per day
- Banamex atm withdrawal limit is 6000 pesos per transaction.
#5
Join Date: Mar 2019
Location: Mexico City
Programs: Hyatt Explorist, Hilton Gold, Marriot Gold, IHG Silver, Choice Platinum, Wyndham Gold
Posts: 3,846
Thanks for the research. Those other banks you listed with lower fees, you won't find as many locations just walking around. Santander and Banorte are everywhere and that's why I use them the most.
Also, Banco Azteca (which is located in the airport and in the city) has really good exchange rates for people exchanging cash, USD to MXN pesos. Way better than the other money exchange locations in the airport. But, with anything their footprint is small and most people wouldn't want to go out of their way. And besides that they're not located in the most trendy neighborhoods. And for instance Citibank is always packed and that's why I've never gone there to save a few pesos. I used to stand in an hour long line to get money out of the ATM inside the lobby at Santander bank and then have to go inside upstairs to stand in another hour long line to get change and coins for the month. Now i just walk straight into Banorte in Roma Norte and use the ATM, o and no line and then walk inside and either go straight to the teller or wait less than 5 minutes to get change. I rather pay a few more pesos not to deal with lines😀
Also, Banco Azteca (which is located in the airport and in the city) has really good exchange rates for people exchanging cash, USD to MXN pesos. Way better than the other money exchange locations in the airport. But, with anything their footprint is small and most people wouldn't want to go out of their way. And besides that they're not located in the most trendy neighborhoods. And for instance Citibank is always packed and that's why I've never gone there to save a few pesos. I used to stand in an hour long line to get money out of the ATM inside the lobby at Santander bank and then have to go inside upstairs to stand in another hour long line to get change and coins for the month. Now i just walk straight into Banorte in Roma Norte and use the ATM, o and no line and then walk inside and either go straight to the teller or wait less than 5 minutes to get change. I rather pay a few more pesos not to deal with lines😀
#6
Join Date: Mar 2019
Location: Mexico City
Programs: Hyatt Explorist, Hilton Gold, Marriot Gold, IHG Silver, Choice Platinum, Wyndham Gold
Posts: 3,846
I would post your info in the wiki but these fees change quite often and right now some could already be outdated. It's hard to believe that BBVA's fees are now that high. That's insane! I remember when it was about 80 pesos back in 2017, and i thought that was high
#7
FlyerTalk Evangelist
Join Date: Jul 1999
Location: Over the Bay Bridge, CA
Programs: Jumbo mas
Posts: 38,625
I would post your info in the wiki but these fees change quite often and right now some could already be outdated. It's hard to believe that BBVA's fees are now that high. That's insane! I remember when it was about 80 pesos back in 2017, and i thought that was high
#8
Join Date: Mar 2019
Location: Mexico City
Programs: Hyatt Explorist, Hilton Gold, Marriot Gold, IHG Silver, Choice Platinum, Wyndham Gold
Posts: 3,846
I've been to some banks in Latin America with fees approaching US$10. As I get a Schwab rebate, I don't pay much attention (other than only using real bank ATMs). As for "best practice," regardless of fees, is to get your $ inside the airport terminal at a bank ATM (which I typically do prior to getting a car), as it is probably the safest place in the City to use an ATM. (I've never had a real security issue in Mexico City after dozens of visits over 3 decades, but I still prefer not to use ATMs, especially at night, while alone.)
#9
Join Date: Jun 2011
Location: NYC
Programs: AA GLD, AC
Posts: 4,215
I would post your info in the wiki but these fees change quite often and right now some could already be outdated. It's hard to believe that BBVA's fees are now that high. That's insane! I remember when it was about 80 pesos back in 2017, and i thought that was high
#10
Join Date: Jan 2023
Location: Virginia
Programs: AMEX
Posts: 30
I've been to some banks in Latin America with fees approaching US$10. As I get a Schwab rebate, I don't pay much attention (other than only using real bank ATMs). As for "best practice," regardless of fees, is to get your $ inside the airport terminal at a bank ATM (which I typically do prior to getting a car), as it is probably the safest place in the City to use an ATM. (I've never had a real security issue in Mexico City after dozens of visits over 3 decades, but I still prefer not to use ATMs, especially at night, while alone.)
#11
Join Date: Jul 2001
Location: SW Michigan, ex SF Bay Area
Posts: 831
Keep in mind that the Schwab checking account is linked to a Schwab brokerage account. Overdrawing the checking account will cause an automatic transfer of funds from the brokerage account. Not sure if that feature can be turned off.
#12
Join Date: Jun 2001
Location: Lake Oswego, Oregon or Costa Alegre take your pick
Programs: AS MVPG,
Posts: 1,066
We use Intercam and Banca Azteca ATMs. That said in our little town there is only one ATM that accepts foreign cards. So be aware some ATMs are for Mexican based cards only.
Chase offers private banking clients a free from fee card as well.
Chase offers private banking clients a free from fee card as well.
#13
Join Date: Dec 2023
Posts: 19
ATM fees in mexico December 2023
These are the latest ATM fees in Mexico: December 2023
1. Inbursa - 22.04 Pesos
2. BanBajio - 23.20 Pesos
3. BanCoppel - 29 Pesos
4. CitiBanamex - 30.74 Pesos
5. Banco Azteca - 34.80 Pesos
6. Santander - 36 Pesos
7. Banorte - 46 Pesos
8. HSBC - 81.20 Pesos
9. ScotiaBank - 100 Pesos
10. BBVA - 174 Pesos
my blog post is being continually updated: on NomadicBackpacker
1. Inbursa - 22.04 Pesos
2. BanBajio - 23.20 Pesos
3. BanCoppel - 29 Pesos
4. CitiBanamex - 30.74 Pesos
5. Banco Azteca - 34.80 Pesos
6. Santander - 36 Pesos
7. Banorte - 46 Pesos
8. HSBC - 81.20 Pesos
9. ScotiaBank - 100 Pesos
10. BBVA - 174 Pesos
my blog post is being continually updated: on NomadicBackpacker
#14
Join Date: Mar 2019
Location: Mexico City
Programs: Hyatt Explorist, Hilton Gold, Marriot Gold, IHG Silver, Choice Platinum, Wyndham Gold
Posts: 3,846
These are the latest ATM fees in Mexico: December 2023
1. Inbursa - 22.04 Pesos
2. BanBajio - 23.20 Pesos
3. BanCoppel - 29 Pesos
4. CitiBanamex - 30.74 Pesos
5. Banco Azteca - 34.80 Pesos
6. Santander - 36 Pesos
7. Banorte - 46 Pesos
8. HSBC - 81.20 Pesos
9. ScotiaBank - 100 Pesos
10. BBVA - 174 Pesos
my blog post is being continually updated: on NomadicBackpacker
1. Inbursa - 22.04 Pesos
2. BanBajio - 23.20 Pesos
3. BanCoppel - 29 Pesos
4. CitiBanamex - 30.74 Pesos
5. Banco Azteca - 34.80 Pesos
6. Santander - 36 Pesos
7. Banorte - 46 Pesos
8. HSBC - 81.20 Pesos
9. ScotiaBank - 100 Pesos
10. BBVA - 174 Pesos
my blog post is being continually updated: on NomadicBackpacker
#15
Join Date: Dec 2023
Posts: 19
1. Inbursa - 22.04 pesos 2. BanBajio - 23.20 pesos 3. Banca Mifel - 26.68 pesos 4. BanCoppel - 29 pesos 5. CitiBanamex - 30.74 pesos 6. Banco Azteca - 34.80 pesos 7. Santander - 34.80 pesos 8. HSBC - 35.84 pesos 9. Banorte - 46.28 pesos 10. Multiva - 67.28 pesos 11. BBVA - 174 pesos
Yes the Banorte was 46.
I will check ALL atms again on Feb 1
Thanks
I will update here on Feb 2
Last edited by Nomadic Backpacker; Jan 27, 2024 at 7:47 pm