Wow. He must have had the only gas station around for miles, because 2:1 is an insane markup. Maybe it's not a scam, but if you're making us Canadians (non-hockey edition) angry, then you're doing something wrong.As a note, a friend of mine's father owned a gas station in upstate (real upstate) New York for years. His exchange rate for Canadian money was always 2 CAD to 1 USD. When people asked if he took CAD he said yes and informed them of the exchange rate. People would get angry and drive off, angry and still pay it or shrug and pay it. His dad saved all the Canadian money and when the exchange rate got most favorable would cash it in. They took all their Disneyland and other vacations during the off season using that money.
It's smart business, not a scam, to set a flat exchange rate. If the buyer doesn't like the exchange rate they can shop elsewhere or convert their money.
I noticed that in Cozumel. I left a few purchases at the counter and walked out.Just trying to understand how it is that the Mexican shops all had different conversion rates for USD to pesos? Is it a scam to make more money?
In Vancouver they exept USD, but will only give you an 1:1 exchange rate even though our dollar is worth more.Wow. He must have had the only gas station around for miles, because 2:1 is an insane markup. Maybe it's not a scam, but if you're making us Canadians (non-hockey edition) angry, then you're doing something wrong.
This is true. Also talking advantage of the exchange rate. I do wonder if it was still 1:1 back when the Canadian dollar was worth more though.In Vancouver they exept USD, but will only give you an 1:1 exchange rate even though our dollar is worth more.
Wow. He must have had the only gas station around for miles, because 2:1 is an insane markup. Maybe it's not a scam, but if you're making us Canadians (non-hockey edition) angry, then you're doing something wrong.
What about when your using a credit card and they still try to scam you. Does using a Visa card make you an "ugly American"too?
I personally don't like that term and If I said the same about Mexicans I'd be called a racist. Business in Mexico aren't always that honest and for some reason they think tourists can't do math.
No t necessarily if they use an archaic cash register they can put in anything amount the want and swipe you card. You just have to pay attention. I wasn't referring to cash transsactions anyway, but the dollar is widely excepted in Mexico. It's not exactly the same as going to Europe. I do see your point, but I also have been to Mexico enough to know that merchants, police etc aren't always honest. Not all, but some.If you use a credit card you are paying the owner in Pesos and your credit card is determining your exchange rate plus any applicable foreign transaction fees they charge you on your statement.
It’s not that they think Americans can’t do math, but they are charging a conveniance and risk premium. If someone came into your business and wanted to pay with euros, yen, or pesos would you want a small additional amount to cover the cost of you having to go to a bank and exchange them after hours?, what about any fee the bank would charge you? what if the exchange rate dropped between when they paid you and when you eventually got to the bank? All of that has a cost and different business decide how much that extra work and risk should be worth.
I noticed that in Cozumel. I left a few purchases at the counter and walked out.