G G Money Exchange

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AVOID AT ALL COSTS - $1290 PESOS RIPPED OFF - 10% COMMISSION FEE



On the afternoon of Sept. 24, 2012, I decided to change $1,000 USD to Mexican Pesos since the peso had just devalued significantly. The actual rate was 13.98 MXN / USD, and the advertised rate was $12.899 MXN / USD at G.G., which was the lowest advertised. I was in a rush and had appointments that afternoon, so I just counted the bills and took off without checking using a calculator.



Later I checked the receipt, and I was shocked to find that they had charged a ridiculously high 10% commission (90% net rate). I was given $11,610 MXN instead of the $12,900 MXN I should have gotten. That means they had just ripped $1,290 MXN off me, and I had in fact just traded $900 USD instead of $1,000 USD. This is beyond outrageous, considering that many working-class people in Mexico earn only $50 MXN (FIFTY PESOS) in an entire day. Furthermore, nothing on either the outside or inside of the building said anything about commissions being charged, which is practically outright fraudulent (see CA business code 17500).



That same evening, I went back to G.G. to try to contest the amount they had given me, since I had all my receipts, and they also had recorded my transaction and personal information. Unfortunately they were closed. I then walked over to the BajaMex casa de cambio across the street, which is open 24 hours. I showed them my receipt, and they showed me the official live rates on their computer (G.G. never had that). When I explained that they had ripped more than 1,000 pesos off me, they said I could potentially call the police or go to a small claims court.



I later called them a total of four (4) times, but no one ever picked up the phone. I spent gallons of gas just to get to their place the very next morning, but they were totally closed down for some *mysterious* reason.



Avoid at all costs. Make sure to

(1) Take a calculator with you to every single casa de cambio

(2) ALWAYS ask if they charge commissions

(3) Beware of the casas de cambio with the highest rates - some may charge hidden commissions