Very informative video. Based on my experience in Mexico, I will add another tip when paying with a foreign CC. There are some CC terminals on some businesses that like to apply what is called a dynamic exchange rate which usually let you pay in your CC currency, but comes with a hefty currency exchange commission (5 to 10 percent). To avoid this overcharges, you should always tell the person using the terminal to charge you in pesos and I always go to the extreme to basically take control of the terminal and hit the red or cancel button once I see the dynamic exchange rate appear on the terminal screen. That way, you will avoid having the person using the terminal hit the green or Yes button since I noticed a lot of them are not trained or pretend they don’t know what button to push to avoid those charges.
Facts! We are always clear to charge us in pesos only. And we even go as far as to say the exact amount in pesos for tip versus a percentage to avoid any games!
Excellent practical tips for being money smart in Mexico and around the world. Thank you for another fantastic video. Can you please provide an example of how you have benefited from trip cancellation coverage with your credit card?
Hi, My husband and I are moving to Yucatan in Spring 24'. I just spoke with Charles Schwab yesterday and will be opening an account next week. So are you saying DECLINE the Insurance, DECLINE the Conversion fee, but Accept the Transaction fee correct? Do the questions pop up in that order? I have never used a ATM machine lol! Married for 36 years and we both just go to our local bank for cash once a month or use a credit card...but I'm sure we will be fine😅 Thanks for your Tips!!
When I travel internationally I order the countries currency in cash through Wells Fargo Bank. And also wire money to myself and take the # to a preselected bank/s in MX and get the best currency rate exchange .
The ATM on arrival if you decline the conversion will be best. Well Fargo includes a hefty markup in the fx rate they give you “commission free” basically it’s hidden. Check Ouanda or XE app to see how bad it is versus the spot rate!
4:21 I would love to hear more about your experiences with claims under the trip interruption or cancelation benefits from Chase Sapphire Reserve. (I like the card too, but I haven't had any travel losses yet.)
Yes, it’s a bit of a pain with the process and back and forth, but we’ve been reimbursed for hotel and fancy dinners when our flights have canceled. This may sound bad, but we love when airlines offer us payments to take a later flight or our trip falls apart due to CSR’s insurance covering our expenses. Saves us money! We have total flexibility which helps too but understand not everyone has that with work and family obligations. Bottom line: it’s a huge benefit along with primary car rental insurance too (although in Mexico you still have to buy the min liability for about $5/day).
great tips guys! question: where would you suggest living long term in Mexico. i’ve been to zipolite and loved it, but its a little too remote. im living in puerto vallarta currently but would like something leas touristy. Any recommendations for someplace in between? thanks for all your videos!
Mexico City or Oaxaca are two of our favorites! Of course, we’re also partial to Tulum where our house is and even Playa del Carmen. In Playa, there’s a beautiful neighborhood called Playacar for example. Thanks for watching!! 🙏
I've found some vendors don't accept pesos. I tried to use pesos at store near the cozumel cruise port and the vendor refused. They said dollars only so I had no choice to pay in dollars. This also happened in Puerto Vallarta a few years ago. Imagine being in a foreign country and they don't even accept their own currency lol
Both! Airport kiosks will give you horrendous rates! The best way to get money in any foreign country is to withdraw form a major bank ATM on arrival. In Mexico, be sure to hit decline on the conversion rate offered by the ATM tho!
Neither! Go to your bank. Some offer no charges for exchanging to other currency! Get enough for awhile until you find a big bank if it's affiliated with yours, it's better!
This is not good advice as the bank offers no fee but if you check the fx rate to an app like XE, you’ll see the rate is absolutely horrible. The markup is hidden. ATM withdrawal with declining the exchange is best.
I love watching you guys. Btw, I was quoted 54,000 pesos by a lawyer in Cancun to do an expedited canje for me and my 6 year old daughter. He said if we do the normal way it can take up to 30 days to get an appointment with INM in Cancun. Do you have any recommendations?
That’s insane! Try our contact, Adriana Vela in Playa del Carmen. She’s who we used. Her team has offices all over Mexico so may be able to help find something more reasonable for the expedited service. It’s still at least one full day of waiting at INM. But you’ll have what you need! Good luck!
@@tidy dang, the UK was hard too unless traveling in Europe. The US really makes it easy for financial services as there are so many options. Lots of competition.
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Very informative video. Based on my experience in Mexico, I will add another tip when paying with a foreign CC. There are some CC terminals on some businesses that like to apply what is called a dynamic exchange rate which usually let you pay in your CC currency, but comes with a hefty currency exchange commission (5 to 10 percent). To avoid this overcharges, you should always tell the person using the terminal to charge you in pesos and I always go to the extreme to basically take control of the terminal and hit the red or cancel button once I see the dynamic exchange rate appear on the terminal screen. That way, you will avoid having the person using the terminal hit the green or Yes button since I noticed a lot of them are not trained or pretend they don’t know what button to push to avoid those charges.
Facts! We are always clear to charge us in pesos only. And we even go as far as to say the exact amount in pesos for tip versus a percentage to avoid any games!
Good info 👍🏼
Excellent practical tips for being money smart in Mexico and around the world. Thank you for another fantastic video.
Can you please provide an example of how you have benefited from trip cancellation coverage with your credit card?
Thank you! And we’re working on it for you. Great suggestion. Stay tuned!!
Well done. Very informative video. Hope Chase and XE and Wise are giving you some kickbacks for the plugs.
Thank you! 🙏 We’ve made $10 😂 but we love and use these products so worth it to share their benefits!
Hi, My husband and I are moving to Yucatan in Spring 24'. I just spoke with Charles Schwab yesterday and will be opening an account next week. So are you saying DECLINE the Insurance, DECLINE the Conversion fee, but Accept the Transaction fee correct? Do the questions pop up in that order? I have never used a ATM machine lol! Married for 36 years and we both just go to our local bank for cash once a month or use a credit card...but I'm sure we will be fine😅 Thanks for your Tips!!
Yes, correct, the order is accept atm use fee, decline conversion, decline insurance!
When I travel internationally I order the countries currency in cash through Wells Fargo Bank. And also wire money to myself and take the # to a preselected bank/s in MX and get the best currency rate exchange .
The ATM on arrival if you decline the conversion will be best. Well Fargo includes a hefty markup in the fx rate they give you “commission free” basically it’s hidden. Check Ouanda or XE app to see how bad it is versus the spot rate!
Thank you!😊
You guys should do a video of a tour of your new home
Good call! Here it is: th-cam.com/video/-a2GdHeSmmc/w-d-xo.html Gracias!
4:21 I would love to hear more about your experiences with claims under the trip interruption or cancelation benefits from Chase Sapphire Reserve. (I like the card too, but I haven't had any travel losses yet.)
Yes, it’s a bit of a pain with the process and back and forth, but we’ve been reimbursed for hotel and fancy dinners when our flights have canceled. This may sound bad, but we love when airlines offer us payments to take a later flight or our trip falls apart due to CSR’s insurance covering our expenses. Saves us money! We have total flexibility which helps too but understand not everyone has that with work and family obligations. Bottom line: it’s a huge benefit along with primary car rental insurance too (although in Mexico you still have to buy the min liability for about $5/day).
great tips guys! question: where would you suggest living long term in Mexico. i’ve been to zipolite and loved it, but its a little too remote. im living in puerto vallarta currently but would like something leas touristy. Any recommendations for someplace in between? thanks for all your videos!
Mexico City or Oaxaca are two of our favorites! Of course, we’re also partial to Tulum where our house is and even Playa del Carmen. In Playa, there’s a beautiful neighborhood called Playacar for example. Thanks for watching!! 🙏
I've found some vendors don't accept pesos. I tried to use pesos at store near the cozumel cruise port and the vendor refused. They said dollars only so I had no choice to pay in dollars. This also happened in Puerto Vallarta a few years ago. Imagine being in a foreign country and they don't even accept their own currency lol
Omg we’ve never heard of this!!! Also, we would immediately take our business elsewhere as no other explanation than a tourist trap!! Yikes!! 😳
They want to take advantage of you because they take your dollar very low and they profit when they change it! Go somewhere else!
When you say don't exchange your money in the airport, do you mean in the cancun airport or an airport in the US?
Both! Airport kiosks will give you horrendous rates! The best way to get money in any foreign country is to withdraw form a major bank ATM on arrival. In Mexico, be sure to hit decline on the conversion rate offered by the ATM tho!
Thank you
Neither! Go to your bank. Some offer no charges for exchanging to other currency! Get enough for awhile until you find a big bank if it's affiliated with yours, it's better!
This is not good advice as the bank offers no fee but if you check the fx rate to an app like XE, you’ll see the rate is absolutely horrible. The markup is hidden. ATM withdrawal with declining the exchange is best.
I love watching you guys. Btw, I was quoted 54,000 pesos by a lawyer in Cancun to do an expedited canje for me and my 6 year old daughter. He said if we do the normal way it can take up to 30 days to get an appointment with INM in Cancun. Do you have any recommendations?
That’s insane! Try our contact, Adriana Vela in Playa del Carmen. She’s who we used. Her team has offices all over Mexico so may be able to help find something more reasonable for the expedited service. It’s still at least one full day of waiting at INM. But you’ll have what you need! Good luck!
And thanks for watching!! ❤️🙌
I love catching up with you guys when i get a chance. And when i do it,t worth it Love You Both.😘✨✨✨🌈🌈🌈🏳️🌈🏳️🌈🏳️🌈
Awww 🥰 thank you so much!! That means a lot to us!!! ❤️❤️❤️
Foreign Transaction Fees are nothing more than a CASH GRAB !
Agreed when you see how high they can be!! Insane!!! Have to be careful which debit and credit card you use!
@@TwoGayExpats In Canada it is worse. There are only two credit cards that don't charge a foreign transaction fee.
@@tidy dang, the UK was hard too unless traveling in Europe. The US really makes it easy for financial services as there are so many options. Lots of competition.