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#1 WildBill

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Posted 01 October 2015 - 02:59 PM

At least its going to work for me and my situation. I haven't graduated yet to getting to the island by plane, I get there in the morning on one of those big white floating things and leave in the afternoon - yeah, one of THOSE people. Hey, we all have to discover paradise our own way.

Anyway, talked to my bank, Capital One, I have a checking account with ATM and confirmed with the peeps there that its 3% of the amount taken, plus $2 for using a non CapOne atm plus whatever the host bank charges. So the CapOne guy I'm talking to says why don't you order the currency from your branch? He doesn't have details but the branch would do it. I call my branch, "Oh yeah, we can have it here in a couple of days." Cool, now to the good part, the rate, todays rate published is 16.91........ to one dollar. CapOne will deliver my pesos to my bank, thus eliminating the 3% charges, and eliminating the charges for using a none capone atm, and settle my mind about dirty rotten eastern euro-trash scoundrels hacking into my meager funds (I wouldn't use those stand alone machines, GO INSIDE THE BANK AND USE A BANK MACHINE) - all this for a measly 15.58 to the peso. Sounds dam descent if you ask me.

In my best Jewish accent, "Vat a bargan!"

My wife and I will probably make our first flying entry into Coz next year if I can swing it. Its a shame that the big white floaty thing wont dump you for a week and pick you up the next time around!

Be there October 21st for our 26th wedding anniversary! Only 18 days!

WildBill
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#2 Carey

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Posted 01 October 2015 - 03:17 PM

Thanks for posting all this valuable information, WildBill!


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#3 cvchief

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Posted 01 October 2015 - 05:24 PM

Today you get 16.47 on Xoom for 4.99.  If I did the math right, I think for anything over around $89 US and more, Xoom would be cheaper. At the $300 exchange rate including the Xoom fee, you get 4858MX and with your cap one rate you get 4674MX, a difference of 184 pesos or $11.81US or 4% more money. (That's like TWO margaritas!!!)  The difference grow greater with the more money you order as the fee spreads out more.

 

Xoom is easy.  Send to Electra, walk in with passport and the Xoom number.  Walk out with wad of pesos.


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#4 La Bella

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Posted 01 October 2015 - 09:29 PM

Today you get 16.47 on Xoom for 4.99.  If I did the math right, I think for anything over around $89 US and more, Xoom would be cheaper. At the $300 exchange rate including the Xoom fee, you get 4858MX and with your cap one rate you get 4674MX, a difference of 184 pesos or $11.81US or 4% more money. (That's like TWO margaritas!!!)  The difference grow greater with the more money you order as the fee spreads out more.

 

Xoom is easy.  Send to Electra, walk in with passport and the Xoom number.  Walk out with wad of pesos.

Is Xoom like Western Union?  Can I go online and send money to myself here in Cozumel????


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#5 mstevens

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Posted 01 October 2015 - 09:41 PM

La Bella, I have gone online and sent money to myself using Xoom. I've done it on my phone in the car outside Elektra then walked inside and picked up cash. You do have to set an account up ahead of time and it is likely to be easier done in the US due to confirmation texts, etc.


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#6 cvchief

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Posted 02 October 2015 - 07:47 AM

Yea, Xoom is like WU except way easier.  $4.99 for a sent and decent exchange rates.  I do it JUST like the Doc.  Fire up the Iphone app, send the money to myself, walk in and hand them the passport, press the iphone against the window so she can read the confirmation number in the email or in the app, get wad of money.  You can also do it from home and print a copy of it to carry along I get.

 

Obviously the more you send the more that 4.99 gets spread out.  Just NEVER try to get your monthly limit increased, just stick with what they give you.  I was stocking pesos to go buy a car and tried to up the limit for sending to a friend to get the money on the island. Instead they blocked me from sending him money.  I call to ask and they said they don't tell you why, then the guy hint put him back in with a different email, which works.  So as long as you don't rock the boat, works GREAT.  


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El Jefe

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#7 La Bella

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Posted 02 October 2015 - 10:10 AM

Yea, Xoom is like WU except way easier.  $4.99 for a sent and decent exchange rates.  I do it JUST like the Doc.  Fire up the Iphone app, send the money to myself, walk in and hand them the passport, press the iphone against the window so she can read the confirmation number in the email or in the app, get wad of money.  You can also do it from home and print a copy of it to carry along I get.

 

Obviously the more you send the more that 4.99 gets spread out.  Just NEVER try to get your monthly limit increased, just stick with what they give you.  I was stocking pesos to go buy a car and tried to up the limit for sending to a friend to get the money on the island. Instead they blocked me from sending him money.  I call to ask and they said they don't tell you why, then the guy hint put him back in with a different email, which works.  So as long as you don't rock the boat, works GREAT.  

Do you know what is the $ limit that can be sent via Xoom?


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#8 Kandy

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Posted 02 October 2015 - 10:13 AM

Xoom is my lifesaver. It's the ONLY way I get pesos down here. In addition, you can use it to pay Telcel and CFE bills ($2.99 each transaction) and to recharge your Telcel Amigo plan ($0.99 per transaction). They keep adding more and more. I love it!


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#9 CGrover

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Posted 02 October 2015 - 11:12 AM

At least its going to work for me and my situation. I haven't graduated yet to getting to the island by plane, I get there in the morning on one of those big white floating things and leave in the afternoon - yeah, one of THOSE people. Hey, we all have to discover paradise our own way.

Anyway, talked to my bank, Capital One, I have a checking account with ATM and confirmed with the peeps there that its 3% of the amount taken, plus $2 for using a non CapOne atm plus whatever the host bank charges. So the CapOne guy I'm talking to says why don't you order the currency from your branch? He doesn't have details but the branch would do it. I call my branch, "Oh yeah, we can have it here in a couple of days." Cool, now to the good part, the rate, todays rate published is 16.91........ to one dollar. CapOne will deliver my pesos to my bank, thus eliminating the 3% charges, and eliminating the charges for using a none capone atm, and settle my mind about dirty rotten eastern euro-trash scoundrels hacking into my meager funds (I wouldn't use those stand alone machines, GO INSIDE THE BANK AND USE A BANK MACHINE) - all this for a measly 15.58 to the peso. Sounds dam descent if you ask me.

In my best Jewish accent, "Vat a bargan!"

My wife and I will probably make our first flying entry into Coz next year if I can swing it. Its a shame that the big white floaty thing wont dump you for a week and pick you up the next time around!

Be there October 21st for our 26th wedding anniversary! Only 18 days!

WildBill

 

Do they charge you to return pesos if you don't use them all?

 

Today you get 16.47 on Xoom for 4.99.  If I did the math right, I think for anything over around $89 US and more, Xoom would be cheaper. At the $300 exchange rate including the Xoom fee, you get 4858MX and with your cap one rate you get 4674MX, a difference of 184 pesos or $11.81US or 4% more money. (That's like TWO margaritas!!!)  The difference grow greater with the more money you order as the fee spreads out more.

 

Xoom is easy.  Send to Electra, walk in with passport and the Xoom number.  Walk out with wad of pesos.

 

Cool!


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#10 cvchief

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Posted 02 October 2015 - 05:35 PM

Do you know what is the $ limit that can be sent via Xoom?

 

2,999 US  per month I believe.


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El Jefe

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#11 cvchief

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Posted 02 October 2015 - 05:37 PM

 

Do they charge you to return pesos if you don't use them all?

 

 

And why would you?  Especially as cheap as pesos are right now.  I keep thinking I should invest in pesos.....   :P


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El Jefe

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#12 cvchief

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Posted 02 October 2015 - 05:39 PM

Xoom is my lifesaver. It's the ONLY way I get pesos down here. In addition, you can use it to pay Telcel and CFE bills ($2.99 each transaction) and to recharge your Telcel Amigo plan ($0.99 per transaction). They keep adding more and more. I love it!

 

I keep getting emails from Xoom about paying my Telcel through Xoom.  I set up a miTelcel account and just pay mine by credit card.  


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El Jefe

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#13 WildBill

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Posted 02 October 2015 - 06:17 PM

Do they charge you to return pesos if you don't use them all?


Why bother? Your planning on coming back right? With the deal on pesos it IS the time to buy an extra $500 in pesos for the next trip and stash it under the mattress.

I did walk into Cap One today and ordered my $600 worth of pesos for my trip this month, cost me $600.77 for 9,400 pesos. Works out to 15.66 pesos to the dollar. Delivered to my bank here in Texas on Tuesday. No fuss, don't have to rush to a bank the minute I set foot on Coz. I can pay for everything in pesos without doing the bank or atm thing, taxi, margaritas on the beach, lunch, shopping etc. Any idea what rate the Gambias were giving today?

Don't plan on spending the entire amount in 7 hours on Coz but we are grabbing a cab from Progresso to Merida the next day and have a little shopping list to hammer out along with some lunch and stuff.

The Xoom thing looks like the hip way for long term visitors to get $$$$$! Great info in this post, thanks everyone!

WildBill
FYI - While working in the middle east we used to count the days till we were out of country (Saudi Arabia), today its 17 days and a bag drag for me.
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#14 pato52

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Posted 03 October 2015 - 08:48 AM

 

2,999 US  per month I believe.

I just checked the Xoom website and it looks like $6000 USD is the maximum you can send per 30 days. You can increase that amount to $25,000 per month if you provide Xoom with more info.


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#15 cvchief

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Posted 04 October 2015 - 08:37 AM

I just checked the Xoom website and it looks like $6000 USD is the maximum you can send per 30 days. You can increase that amount to $25,000 per month if you provide Xoom with more info.

 

My bad.  You are correct.  It is limited to $2,999 per transaction, 6,000 per 30 days and 9,999 for 180 days.   And SUPPOSEDLY you can send ID and job info to get it increase, but I tell you ALL that happened when I did that is it blocked one of my recipients.  I called their customer service which basically told me that I had been rejected.  I of course asked why as all my 'stuff' is in order.  He basically said when they disapprove you, they neither tell you were disapprove nor, if you ask, tell you why you are disapproved.  He basically told me to change the phone and/or email of the person I was sending to fake the system into believe it was a new person.

 

Hence I would say try to accept the system as is, without trying for increases.  I would love to hear from someone who actually got an increase.


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El Jefe

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#16 mstevens

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Posted 07 October 2015 - 09:49 PM

 

I set up a miTelcel account and just pay mine by credit card.  

 

And no Xoom fee.


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#17 La Bella

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Posted 20 October 2015 - 08:21 PM

La Bella, I have gone online and sent money to myself using Xoom. I've done it on my phone in the car outside Elektra then walked inside and picked up cash. You do have to set an account up ahead of time and it is likely to be easier done in the US due to confirmation texts, etc.

I just set up an account in Xoom and I guess it will be easier from now on...they called to verify that my husband had done the transactions since we

did it online from Coz.  We'll see once we get the $.

La Bella


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