Summary Dynamic currency conversion (DCC) is a payment process that uses a marked-up exchange rate before a peso transaction reaches your bank, often costing foreigners in Mexico more. It appears at terminals, ATMs, and payment links and is usually avoided by paying in pesos (MXN). Why Are Foreigners in Mexico…
Moving money to Mexico always feels like bullfighting – a moving target; you need to stay alert and don’t ever drop your guard. Eight years ago, I got disgusted by the ATM fees and lousy exchange rates I was getting using my Bank of America (BofA) debit card to withdraw…
Foolishly, I consider myself savvy about bank fraud in Mexico. I worked in banking for 19 years. I’ve never fallen for the usual scams – the Nigerian prince, the “friend stuck at the airport”. But I just helped someone steal MXN 6,000 from my account at Santander. No guns, and…