Banking and cash advice

[Neilcampbell31]

Hello all,

I’m arriving in January 2012 from London and have a few questions in regards to cash, banks and generally how you expats pay for things.

I plan to stay for 12 months and I intend to learn Spanish and teach English [on a tourist visa]. I also appreciate the differences in wages and cost of living - but lets save this for another thread(s)! I understand teachers' pay is in Pesos and rent is paid in US dollars.

My question really revolves around; how do you expats who are working on the tourist visa carry your money?
- Do you carry it all in cash?
-Do you then transfer it into dollars to pay rent?
-Do you use your home country bank card? Im guessing this is expensive?
- Internet banking?

Any advice would be greatly appreciated!

Neil

 

[sinagua980]

1) I don't. I pull out pesos about once a week for the week ahead.
2) My landlord is amazing. She'll accept dollars or pesos, but I try to give her dollars. Which means, yes, we have to then go and buy dollars with the pesos we withdrew. Haven't done this since the buying dollar restrictions, so don't know how that will work for me in the future.
3) Yes & no. Read my latest blog post about this very thing: http://wp.me/p1k7na-8i
4) Absolutely!

Cheers.

 

[Napoleon]

If conditions stay the same, you should bring as mamy dollars as possible in cash. (Up to the legal limit of US$10,000.

You should then try to live off of the pesos that you make and use the dollars for rent or backup and finding buyers for your dollars willing to pay a premium.

Period