I think the best option for the best exchange rate, but not instant gratification to the tune of $50k USD, would be if the US funds were in a BOA online banking account. Bruce could use his ATM card at Santander and there are no fees. There is a limit of some sort, $5,000 - $7,000 pesos per day, but I do not know what it is, nor do I know if it is a BOA imposed limit or a Santander limit. I think Bruce, in his case, should bring in less than the $10k dollar limit, but bring it in pesos. If he is traveling with another person, hopefully with a different last name, that person could likewise be a mule for up to $10k dollar equivalent, also in pesos. I would do that in conjunction with a BOA ATM card. BOA has recently announced that they will charge $5 US per month as a fee for purchases made with their ATM/Debit cards. BUT, the fee does not apply to ATM withdrawals and IF IT ACTUALLY GOES INTO EFFECT, it will be in January, 2012. The deal with the BOA/Santander thing is the best legal rate that I know of. The other day I got $13.27 to $1 with the ATM and a Santander customer could have walked in the bank and gotten only $13.10. But only Santander customers can exchange inside the bank. I hit the ATM yesterday and the rate was $13.249. Also made a cash buy at Costco, paid with $100 US, and their rate was $13.00 and I got over $1,000 in change. Pretty good by merchant standards and no hassle, unlike at stupido Walmart. Keep in mind that you CAN bring in more than $10k, BUT you must declare it. For example, if you were buying property you could bring a copy of the contract or closing papers, in Spanish of course. My worry would be that there would be a tail on him before he got outside the terminal. Not the best scenario in my mind. Bruce, you can send Private Messages if you have specific questions of any of us and do not want to pose them in a public forum. Good luck.
