Avoid this ATM SCAM in Mexico!!
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- Опубліковано 5 лют 2025
- Watch this video to see how to avoid a common ATM scam while traveling to or living in Mexico.
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very good explanition bro, thanks.
Thanks for this info. I live in Mexico and just instinctually click "yes" on that screen, not knowing it was anything more than informing me what the day's conversion is. Won't be doing that anymore. And yes, I'd call this a scam, most definitely!
Thank you
Go to the bigger grocery stores.larger limit .so you dont have to keep going and pay the fees .i could take out twenty thousand pesos where as in most machines were lot less
You help me today. Thank you.
I'm glad to have helped. Thanks for your comment!
Another way to save even more money is by using a Charles Schwab or Fidelity debit card. All transaction fees are reimbursed at the close of your monthly statements. Also, using any bank 's ATM will give you the daily exchange rate plus they are much more secure. Stay away from general ATMs.
Wow! What a rip off! I'm in Mexico now and have wondered about that! Thx for info!
Thanks for this valuable video. Today, I ran into this scenario at a Banorte ATM here in San Miguel de Allende. The ATM offered to convert 7000 Pesos for $379.xx, I declined the conversion offer, got my 7000 Pesos, and then checked my Charles Schwab account to see that only $354.62 had been debited. The ATM fee is 48 Pesos, but Charles Schwab reimburses that. I would have lost about USD 25 if I had accepted the lousy conversion. Sneaky little bastards!
great video. What Camera are you using please.
Thank you great tips and thanks for showing us the ATM machine.
Thanks for the tip. Traveling to Mexico today and I this will help a lot! Thanks!
Have fun!
Thank you! I've heard about this but seeing the screen made it much clearer.
DCC scam.
I appreciate your video! Thanks! Very helpful!
Thanks for this video 📹 🙌
My pleasure 😊
Thanks!
HSBC. 12000 from atm
If you open a Charles Schwab account you wont pay any fees. The ATM would charge you a fee but then Schwab would reimburse you that fee. You need to be in the USA to open the account. Look into it.
Yes and Fidelity
Conversion rate differences are a big money maker in tourist areas all over the world.
video popped up so timely, i just went to a santander atm and wasn't planning on actually completing the transaction, i just wanted to see the rate. It gave me like 18.9 and i decline thinking that i was done. But then I heard the machine movement and was like wtf and money came out. Either way it blows cuz santander charged $5 for the transaction so they fuck you no matter what.
Thank you, this was a very helpful video.
Thank you yes are so helpful
I think SCAM is an appropriate name for this banking policy.
There’s a beautiful town about a little over an hour drive from Guadalajara by the name of Jamay. You should check it out. Thanks for sharing this valuable tip.
cool! Looks like a cool town to do a video in! Can you tell me anything about it? Why do you recommend it?
I was born there and have many great childhood memories plus it is a beautiful place to visit. Many beautiful things to see and great, great food. Hope that if you visit you will enjoy yourself.
Awesome! Thank you!
So.. to understand better With how much less I will get in pesos if for example I want to take out 100€? How much will they charge me for that transaction? Or did I understood well that they charge per transaction?
This also happens in US when using mexican bank cards. This practice is very bad wherever you go using different currency account to the local.
Does this benefit works when using it to buy things
Great tip. Thanks
Thanks, Steve!
It is a "scam" because any reasonable person not familiar with this would assume that if you click no, it will cancel the transaction. Who in the world would click yes to the question if phrased, "Would you like to be charged extra money for this transaction?"
I had been going to Mexico for years before I started seeing this happening, and when I first saw it, I of course was confused and didn't know what to do.
I had been a longtime user of HSBC ATMs because they give you up to 15,000 pesos in one transaction. When I saw the, "Do you want to accept the conversion rate?", I thought this was a new development just for HSBC, so I decided to try a different one and found out that the Banorte one (at least by me) will give you 20,000 pesos in a single transaction. And it didn't (at that time anyway) have the thing about accepting the conversion rate.
exactly! it's not upfront and honest which to me is kinda scammy. They're taking advantage of people thinking that if they decline the conversion rate the transaction won't go through
Yes exactly
Wow good to know ! Thanks
lovely. thanks for the tip
I understand this scam, what I'm unsure of is what is the conversion rate when the ATM machine does NOT ask you about the conversion rate? Because i have found that many ATM's in Huatulco do not have the decline conversion ratio button on them. Please advise..
Thanks so much for the tip! I travel to Mexico often and have seen this on the ATM screens. I wrongly assumed that I had to accept the exchange rate for the transaction to process. I will subscribe and consider giving you a tip via Patreon.
thanks so much! I also have a link to Square if you'd prefer to give a one time donation. No pressure either way. Glad I could help!
@@colibritravel5994 I just made a donation via Square. I appreciate your exposing this ATM scam.
@@tucsonjohn829 oh thanks so much, I appreciate it! :D
I was told to use the ATMS inside the bank. But IDK. I’ll rather avoid them and carry cash when I’m over there.
it's probably safer inside the bank.. How are you going to get cash if you don't go to an ATM?
I think the suggestion is to only use ATMs attached to banks as opposed to stand alone ATMs like those found at hotels and malls. More chance for those to be tampered with.
@@colibritravel5994 how widespread is credit card use in smaller Mexican cities?
How much was the fee!?
This is not unique to Mexico. As a Canadian, this often happens to me when I use an ATM in the USA. An example was an ATM in the Seattle Airport. The offered exchange rate was nearly 8% lower than my own bank (and they are bandits too.)
That must of been a BofA ATM... 😂😂😂
This was an excellent tip/video, especially something that I was unaware of happening. From what I have already gathered, it is not easy for non-Mexicans to get Mexican credit cards (I believe the same for bank accounts/bank cards--but I could be misremembering). Thank you so much for sharing this information with us!
Can't wait to see where you take us for your next adventures! Keep up the great work :) -- Carrie
Thanks Carrie! I just use my american visa debit card and mostly to withdraw money to pay rent (to help my landlord avoid taxes most likely) So I don't have a mexican bank account but have heard of foreigners that have set them up easily
Mexican credit cards have horrendous interest rates!
@@sioux4noff Thank you for that info!
@@colibritravel5994 Very good to know.
That’s crazy ima try it out tonight thanks bro subscribing
Thanks a lot for the tip, I’m sure I’ll see it soon.
Nice neighborhood...No trash on the street!
yes, I feel fortunate to be able to live in this great neighborhood :)
Who is so dum to say that is not a scam .
Good tip!
Wow. Thanks for this valuable tip! Definitely something to remember! ¡Mantener el buen trabajo!
Wow!!! Much thanks to you!!!
Wow. Thanks for sharing this. I'll definitely keep it in mind the next time I visit!
They do it in the malls in Canada and US when you are using a foreign card
What neighborhood is this?
Have you ever tried sending your self a Western Union money transfer?
kkiI am still trying to get my head around that bizarre attempt by the bank to get more money. My question is if all the banks do the same and if there are banks that would cancel your operation if you said no you wouldn't accept the rate. It seems strange that Banorte would let you go ahead having said no. Another question I have is if the commission that appeared first (46.26, which I assume is a value in pesos and not dollars) varies from bank to bank. Luckily, in Portugal we have one ATM system for all banks, called Multibanco, and the charges are standard for everybody. But, of course your situation is different because you are using a foreign bank account and converting to pesos. Here in the Euro zone we have only one currency and there is never any charge for taking money out be it Germany or Sweden. We do have problems when we travel to the UK, since it is pounds. I was impressed by the ATM yoiu showed. It looked very modern and userfriendly. Are there any robberies of ATMs when they are not inside bank buildings? Here almost all of them have been put inside now since criminals will come in the early hours of morning and blow them up or pull them off the wall with a truck to kiget at the money. You gain access to the internal ATM by using a bank card to open the door.
yes, the atm 46.26 was in pesos and varies from atm to atm. I think atms are considered safer inside of banks but it's quite common so see them in locations like the one I showed
As you said, I always thought declining the conversation rate would terminate the ATM session. By declining I did receive a more favorable rate but later Scotiabank included.a fixed fee for the withdrawal. It would be nice to know banks that also have no, or less, fixed fees for a withdrawal.
That's exactly what the ATM operator is hoping that people will think. I declined the conversion at an ATM in Mexico today, got the money, and checked my account to see that I had come out $25 more favorably by declining. I've fallen into this trap, and could never understand why some banks gave such better rates than others, but I know why, and I will not fall for it anymore. Banks must make huge amounts of profit with this little trick.
i think every bank has they own exchanged rate ,and this can change at any minute ,
Most people focus on the ATM fee but the conversions are killing you. Even your home bank dont give you the real conversation. They often come with fees too. Its not the ATM fees its the conversions.
I totally use Banorte every time I’m in Puebla!
However, I’ve never reached the screen where I can accept/decline the conversion rate. I guess the ones in Puebla operate differently than in CDMX 😅
This is an excellent tip. You're right thst it's not really a scam, but a legal bank practice that we should be aware of.
As far as fees, I have found CIBanco to charge the least fee per transaction at about 18 pesos.
We use a Charles Schwab account that rebates all ATM fees to us making them effectively fee-free.
Let me know if you want more info on that account.
THIS IS NOT A SCAM !!!
Hey! How do I take out dollars in Mexico, Cancun?
damn who knows how much money I lost lol I just got back from Guadalajara, I usually bring cash and exchange banco azteca but when I run out I go to ATM. Next time I will try this method but withdraw $50 both ways and see whats up, thanks!
Now according to Jerry he uses a capital one debit card and there's no transaction fees or conversion fees zero wouldn't that be the better choice to use a capital one?
The question will still show up and you still need to say no
This is a video I have been waiting for! Thanks for doing it. Can you recommend any U.S. bank cards that would also work in Mexico that you have had good experiences with?
I just use my visa debit card that's connected to my american BofA account and have never had any problem with it
@@colibritravel5994 Interesting, but I think that the BofA account "might" be charging you additional fees such as the 3% foreign currency transaction fee. Just the same it is good to know that your card works down there. Also did you have to notify the bank ahead of time that you would be living in Mexico so they don't shut your card down?
Thank you for that video. What gave you the idea to decline their conversion rate? It may be the ATM company that makes the difference not the bank. Banks are thieves anyways. Keep that in mind.
THANKS
What city do you live in?
Guadalajara
Do you have any info on how bad the smog is to live in there in Guadalajara?
I don't have numbers but it doesn't bother me
Is wifi readily available in mexico? And how reliable is the connection?
I guess BanNorte wont become a patron anytime soon.....:).....Interesting, Ive never seen the conversion rate question on any ATM's in Puerto Vallarta...the "Orange" ATM's had a question if you wanted to donate to a children's charity....I did once, but who's to know what percentage of the donated funds go to the actual charity?...I see that the American dollar still gives you a bigger "bang for your buck"...One Canadian dollar gives you 16.67 Mexican pesos currently....still better than the 13 and change they gave you when I was in Mexico last year.
Another excellent tip for anyone that doesn't know. Thank you and keep up your great work.
Jeff (Papaw)
Thanks so much Jeff, good to hear from you as always! :D
It's definitely a scam...one that VISA and Mastercard allow foreign ATM companies to use.
Thanks for watching, I hope this video saves you $$$ :D
HI😁
New Sub
thanks and welcome!
@@colibritravel5994 Np 😁
Which video shows your apartment? Is it in the one about living in Colonia Americana?
Great tip! You actually got 9046.28 pesos for an exchange rate of 21.67. :)
Thanks Jerry! +46.28? Wouldn't it be minus 46.28 if that's the atm fee?
JC is right, your total dollar amount charged to your U.S. Bank includes the 9000 pesos + 46.28 fee.
it's only a scam if you allow the banks to do so! otherwise? all business and convenience.
Very clever! Mi amigo
Nice neighborhood, what city do you live in? Is it easy to find short term rentals? I want to spend a month in Mexico as soon as it becomes safe to travel again.
I'm in Guadalajara. If you're just looking to be here a month I'd just look for a place on airbnb. They often times give discounts for month long rentals
Thanks, that was my first inclination. I was born in Mexico, parents both Americans. We moved to the US when I was 3. Retired now. I’ve learned that Mexico considers me to be a citizen, I’m in the process of obtaining a Mexican Passport. Keep the videos coming. Thanks !
Good stuff, Blake. Fortunately I learned this from Tangerine Travels before moving. Nice neighborhood, btw. I use Santander on La Paz here in Col Americana. Also 9000 pesos a day.
I have a Bank of America debit card and Bank of America has a bunch of "sister" banks all over the world, including Mexico.
If I go to Scotiabank in Mexico and I withdraw money I will not be charged any kind of fee. Just fyi.
Thanks for the video.
That is true Canadians who have a Scotiabank account can withdraw money from Scotiabank ATMs in Mexico for no fee.
I’ve tried this a couple different ATM’s here in Tulum and every time I decline the conversion it doesn’t go through as yours did. Instead I’m forced to proceed with the ridiculously high rate of around 5-6%. Any tips for which atms to try that down here? Its around $30 charge to pull out 9000 pesos 😩
I don't know, every time I do it, it works.. I'd just suggest trying to do it at as "local" of an atm you can find. go into town and go to a bank that locals use
If one gas station is 2.00 per gallo9n of gas and the one across the street is 3.00 per gallon...Does that ,mean the 3.00 station is scamming you? No. They have their rates, they tell you up front what it is and you choose to accept or not. Good info to know in advance but, its technically not a scam. Those are the "rates" they charge for doing biznus with them. (not saying I agree with the rate, just saying its not really a scam)...Thanx for the info !! :)
"Offering" a higher rate knowing that many people will only accept because they feel as though they have no other option is kinda scammy to me
Hotels also participate in this practice. They ask in which currency you would prefer to be charged--your home currency or the local. Also, international retailers in tourist centers. It is global, not only in Mexico.
Not a scam. It's the way it is. If It's convenient for us then it's worth changing. Or the hard way is driving all over the city to find a bank.
It’s a scam dude
Why would anyone move to live in third world country.
Like the US?