The money, Oaxaca and Exchange, a Primer: Travelerä checks, ATMs or cash

Alvin Starkman, MA, LL.B.

You do not need traveler's checks, ATMs are common, safe and reliable, while the government of checks and balances in cash, a VISA card will help you on your trip to Oaxaca. But there are countless other goodies to listen to advice before leaving for the airport gate, the issues that will have after landing, and the money issues that will arise during your vacation.

Preparing for travel

ATMs

There are several ATMs in the city center with almost every bank and even within the pharmacy odd. Similarly, in the suburbs you'll find no shortage of machines in banks and pharmacies, and independent newsstands, and even within brands and stores.

It is better to go to your bank before your trip to confirm your weekly limit, the maximum number of weekly withdrawals and the amount you can withdraw per day, and noted in his file to use your card in southern Mexico. Increase your maximum if possible.While it is rare for a machine to "eat" the card of one, as it happens infrequently in his hometown, it can happen here, and could take up to 2 or 3 days for you to get your card back . Consequently, to be on the safe side have an extra card with you or make sure that your partner has his card. If you have both an ATM and credit cards from which you can access your account, use the ATM card so that in the unlikely event of a problem, you will still have to remove plastic and shopping.

CREDIT CARDS

Most establishments in the city accept credit cards, VISA is the most widely welcomed.Again, as part of their pre-trip planning contact the credit card companies and consult and advise on the following aspects:

1) determine which state that you will be making purchases outside the country;

2) checking your only limit to buy dollars and increase, if possible, perhaps only during the time period that will be on vacation;

3) asked how exchange rates will be calculated and if there is a charge, so you can make a more informed decision about whether it is better to use the credit card and increase the balance in their rewards program, or cash;

4) If you intend to rent a car in Oaxaca, ask if your gold or platinum card covers the rental car theft, damage, liability, and so on, and confirm the answer by reading the terms of the agreement holder, conditions and restrictions, all in order to avoid having to pay for these "extra" charges when you pick up your vehicle.

Remember that not all traders, especially in towns and villages where they buy crafts, accept credit cards, and those that do often charge a premium of up to 6% to cover their travel expenses.Using a credit card can reduce their bargaining power significantly. Of course, when dining at a small restaurant or shop on the street, you can only use money from the U.S. or weights, and you use American money is not likely to get a good rate of exchange as you would through a conventional exchange house (casa de cambio) or a bank.

Americans, Canadians or cash

In Oaxaca, if you are paying with foreign currency, makes the U.S. dollar. However, the Canadians, for example, should not feel the need to go out and buy Yankees tickets. Years ago, things were different, and it was difficult if not impossible, to change Canadian dollars, while foreign currency abroad. We believe that the U.S. dollar ruled the world. Rates Today, here in Mexico, weights are good, and most importantly the most competitive exchange houses for the supply of Canadian dollars and other major currencies. No need, and it is not economically prudent to pay for Canada changed in America, and then to travel to Oaxaca once again to pay in return for a third currency.It is quite true that, while there are places that only the exchange of U.S. dollars, within about 3 blocks from the central square of the center (the zcalo) at least four exchange offices can be found that the major foreign currencies. A word to the wise: do not carry foreign accounts, which has rips, written them, or ink stains or other. The golden rule in a House of Change is to reject all foreign invoices damaged or altered.

Travelers' Checks

A more seasoned readers will remember always using traveler's checks. But that was before the age of ATMs, PayPal and the realization that not everyone in a foreign land is to steal from tourists. Besides, each of us had a money belt of confidence. Many still "do not leave home without it", but often are conducting transactions as a bit cumbersome. There may be (but usually is not) a premium for the exchange of nominal fees, it takes time to get the passport and have the data recorded in each control, and if you're careful, it should be, the convenience of carrying them is small.Institutions accept traveler's checks, but often have to pay a fee for them to have in their accounts in pesos. Usually be accepted in major retail stores, hotels and guesthouses and village crafts in larger workshops, but may be a small cost involved. Having said that, often the seller is willing to absorb any fees. Many Oaxacans in the tourism industry, just hang in traveler's checks and then deposited in accounts in U.S. dollars they have in the United States.

PAYPAL

Paypal has revolutionized small-scale, international, commodities and services purchase and sale transactions. The commission rate is modest, it is a very safe and secure way to buy and sell, and has its own safeguards to protect both sides of a transaction of the unscrupulous and the spacecraft. You may have used PayPal to make your deposit with booking your accommodation, for one kind of cooking school or organization of an ecotourism trip. It is likely that you can pay the balance due once you are in Oaxaca, in the same way, as long as you do not mind the modest charges involved. The primary advantage of PayPal is that the hands of instant cash exchanges.And even in the craft villages that there are owners who either accept PayPal or a colleague, friend or relative willing to help in facilitating the buying and selling carpets, alebrijes, etc (especially when a custom order is placed ). Paypal is simply an additional payment method to the age of majority in Oaxaca.

It is now in Mexico

The exchange rate for U.S. or dollars to pesos tends to be better for consumers at the airport in Mexico City to Oaxaca, so do not hesitate to begin to change while waiting for your connecting flight to Oaxaca. In fact, airport taxes, at least in the past to change Canadian dollars into pesos, have been better than in the purchase of much larger amounts of weight through one of the U.S. exchange companies known or Canadian money! The bungalows of change tend to offer more competitive prices than the higher level, but their current account to ensure you are getting the best exchange rate.

Once in Oaxaca, remember that often the difference in exchange rates can be.03 of a weight, so consider the amount to be exchanged, and figure out if it's really worth your time to spend half an hour to save $ 1.50. Think about how often a couple of dollars to someone on the street or when they confuse a cab driver, or to pull that extra dollar for a luxury coffee.

When planning a day trip to the villages where they may be considering the purchase of cotton textiles, painted clay figures, or other crafts of Oaxaca, think about cash supplies at night before you travel. Otherwise, you may be in the awkward position of wanting to make a purchase and not enjoying or being able to use a credit card, and asking your tour guide or other partner with you to pay cash until you get back the hotel. It is uncomfortable for all involved. Avoid the problem altogether and get their money the day before. There are ATMs in cities like the fact Etla Tlacolula Ocotln and even the Thule, but do you really want to spend any time during the day in search of a machine when they could be doing tourism?

Remember you're pulling out of dollars, so when they hit the numbers in the ATM, do not stop at 500? Not dollars.Add another zero and then confirm the amount.

If you are staying in either the northern suburbs like San Felipe, Reform, Loma Linda, Volcanoes and Guadalupe Victoria, driving south towards the highway and tourism center will probably happen at least three ATMs. City are everywhere, along with banks and exchange houses. These are within a couple of minutes walk from zcalo, in Independence, Hidalgo, Garcia Vigil and Valdivieso. The banks, with competitive rates and are also found in a couple of blocks from the plaza.

If checks on travelers', always have something with you. After all, the reason you're using them the protection they offer. Then you can take advantage of the strange aberration in the exchange rate you can find, it can disappear tomorrow. Similarly some cash with you wherever you go, for the same reason or for unexpected purchases.

TAKE REASONABLE CARE

Loss and theft usually occur when you're not careful, and in circumstances where the density of people is high, as the queue when the Guelaguetza, on Saturday in the Food Market, rban Night and Christmas Eve in the zcalo, and in the course of parades and processions. Although it is difficult to identify the tourists, still not flash large bills or tacos, and keep expensive cameras in a large nylon bag or a bag in front of you. A thief is more likely to be attracted by a purse hanging on the shoulder or backpack behind the spine, which in the closed or zippered pockets in front of you and cradled with one arm.

Oaxaca is no different from other popular tourist destinations on the safety and security for travelers. Common sense and vigilance to ensure trouble-free holiday in terms of avoiding problems in terms of money and belongings. Due diligence in terms of a little reading before your trip will not hurt, and while here just remember that you are in a foreign country and, indeed, appears like a sore thumb.Moreover, in the unlikely event that you encounter any difficulties of any kind, you will find that even strangers are more than willing to help you overcome adversity, ranging from finding ways to help facilitate the purchase or access to money , to give a wide range of advice on other issues that may arise, as well as local customs and accepted custom.

NOTE: This is not intended to be or should be relied upon by the reader as constituting legal, accounting, financial or commodity or service transaction advisory, and is intended only as a lay opinion based solely on personal experiences of a Canadian who has been involved in small-scale monetary transactions in Oaxaca since 1991.