![]() The bank wanted to give me an ATM exchange rate of 18.83 MXN = 1 USD, but I hit ‘DECLINE’ and the machine proceeded to give me my $8000 MXN in cash without a problem. ![]() Here is the perfect example: last time I used an ATM to get cash, I wanted to pull out $8000 pesos. After you press DECLINE, it will complete the transaction at the current market rate plus a small ATM fee. The bank is trying to get you to accept their ATM exchange rate, which is much worse than the rate your actual bank will give you. You should always decline their conversion offer and process the transaction normally, but many people don’t know that and just hit accept (see image below). When the ATM asks you if you would like to accept their exchange rate, click DECLINE!!!!!!!!!! I cannot emphasize this enough. HSBC provided money-laundering services of more than $881 million to various drug cartels including Mexico’s Sinaloa cartel and Colombia’s Norte del Valle cartel, which resulted in the heaviest fines ever imposed on a financial institution: $1.9 billion USD. Some banks have been reported to have corrupt business histories in Mexico, such as HSBC or Citi Banamex (owned by US Citigroup):
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