# Cash Society



## conorkilleen (Apr 28, 2010)

As of today I have completed one week living in Monterrey. I have been here for business roughly 30+ times before over the last 3-4 years with stays ranging from 1-3 weeks. I always stayed at hotels, meals were easy because they were always restaurants that took credit cards (company card), and the only thing I really had to pay cash for was taxis.

Well yesterday was an awakening. I bought a prepaid phone last week at a Telcel and was able to pay with a card and even add minutes there to it. Well is ran out of minutes and I walked down to the OXXO to add some minutes, they added 200 pesos worth, then I pulled out my card to pay and the cashier looked at me like my head was on fire. He wanted effectivo(cash)...which I hardly ever carry. There were 4 other people in line behind me that were shaking their heads. I was embarrassed to say the least. He let me go next door to the ATM then come back and pay.

We decided after that to go to the mall for a few hours to do some shopping for the house. When we were leaving we went to the machine to pay the ticket for the mall parking, inserted the ticket, it asked if I wanted to pay with cash, card, or coupon. I thought, 12 pesos is nothing and I had a 50 peso bill on me. So I tried to insert the bill and the machine wouldn't take it. I tried the card then and the machine wouldn't take it. I didn't coins (which was obviously my last choice). So I went to the toy store that was close to ask the cashier for change for a 50 peso bill. She said no....she didn't have change for a 50. what? So I had to walk around the mall for 15 more minutes looking for something to buy that could net me the change I needed just to leave the stupid mall.

After finally leaving the mall we went to Soriana to buy some groceries. I was happy to get out of the cash mode since I knew they take my debit card there. I had my electric bill with me and it was only 31 pesos (electric was off while I was in the US preparing for the move so it was a super cheap bill). I was told I could pay it in line at the grocery store HOORAY!!. So I handed the cashier the bill and he ran it though, then proceeded to ring up the rest of the groceries. When I went to pay with my card he said that I couldn't pay with the card and needed cash for the bill. I didn't have 31 pesos...uhhhg. So he had to delete that out and I paid for everything else with the card. Went to the ATM and took out a good sum of pesos, went back in line and paid.

At the end of the day I was physically and mentally drained. But I learned allot. Always keep a healthy mix of coins and paper with you so you can not look like an American fool.


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## m55vette (May 21, 2010)

You might also consider having a small emergency fund stashed in your home or in a safe for weekends and holidays when banks might be closed, or ATMs are down.


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## circle110 (Jul 20, 2009)

Welcome to Mexico! It is indeed a cash society; you could say even a small change society (you did remember to tip the baggger at the Soriana, right? They don't get paid a wage by the store... tips only. Same with the guy in the parking lot that "helps" you back out of your spot.)

I get aggravated when big stores ask me for my small change when I try to pay with paper bills only. They have the change, and I need my change for tips, taxis and buying things in small shops where they really don't have the change. I usually say no.

I used my credit card for everything in the states (rack up those air miles!) but had to change my ways here. Now I almost never use it.


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## Balboa (Nov 16, 2010)

keep the stories coming. I had to decline the mexican job offer (my dream job).. I would have been down there one month had I gone. Luckily I just got back from a 10 day trip.

Never go to Mexico, you'll fall in love with everthing jaja


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## kcowan (Jul 24, 2010)

Carrying some coin and small bills is a small inconvenience for the privilege of living here. The savings in everything you buy more than compensates for the foregone credit card discounts.


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## m55vette (May 21, 2010)

Besides, credit cards allow you to spend more! I love the cash culture! The people you buy from don't have to give up a percentage to credit card companies and you don't pay interest.


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## conorkilleen (Apr 28, 2010)

m55vette said:


> Besides, credit cards allow you to spend more! I love the cash culture! The people you buy from don't have to give up a percentage to credit card companies and you don't pay interest.


I dont use "credit" cards unless its my companies for making business purchases or in this case "relocation" purchases. I cut my actual personal credit cards up the day before I crossed the border. I figure I would not use them in MX and wanted to make a life change for the better.

I was really referring to my Bank Debit card. Sorry for the confusion!!


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## elchante (Dec 22, 2008)

conorkilleen, you're right. it IS a cash society here. and there's nothing wrong with that. you just need to get used to it and probably keep a record of where that cash is going. i keep a very simple record in a spiral notebook. 

i always get my cash from the ATM at one of the local banks. then i go directly into the bank, if need be, and get smaller denominations [e.g. 50 or 100 peso bills for 500 peso bills]. usually, however, i just save my large bills to pay my rent or buy gasoline [most Pemex's have no trouble making change for big bills]. 

and, if you know you have "big" expenses coming up like a car insurance payment or your visa renewal or your IMSS renewal payment, you can hang on to your big bills to pay for that. 

welcome to mexico! like you, i've gotten rid of the majority of my US credit cards, although i do keep one activated just in case i need or want to buy a plane ticket. 

and, remember, always withdraw the maximum you can at your local ATM, since you're also getting charged per transaction. the lower the number of transactions, the lower the fees overall.


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## conorkilleen (Apr 28, 2010)

elchante said:


> c
> 
> and, remember, always withdraw the maximum you can at your local ATM, since you're also getting charged per transaction. the lower the number of transactions, the lower the fees overall.


MY bank is BOA and Santander does not charge me anything for withdrawing cash. Its nice to have one 2 blocks from the house. I will start carrying cash for daily expenses, however groceries and larger thing that I can pay with my debit card I will continue to do that. I have learned not to carry my card with me when I am just walking around for fun, but if I have a mission to do like buy groceries, stuff for the house, or pay for other large items I will take my card with me.

I wont have to pay for Visa renewal since my company pays for that or car insurance-can do that online.

I'm learning, but still remain to be stubborn.

The thing I find scary is that if I take out my limit at the Santander and get mugged on the way home then I am out that money...nobody pays me back.


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## conklinwh (Dec 19, 2009)

I hate debit cards as I want to control cash flow and like the built in float of credit cards, since I pay no fees including having negotiated away the currency fee they serve as a pretty convenient way to move money from US bank. Of course I never have a balance. I also only use in places where can't get "desquento para efectivo" By the way, I've found it never hurts to ask. 
Since my bank doesn't have no fee ATM relationship I tend to use combination of peso withdrawals from Actinver Llolyd and credit card.


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