We have noticed that there is quite the confusion when it comes to the current rate of exchange from dollars to pesos.  Here we will try to explain it as best we can so that everyone is on the same page and we can continue moving forward!

Pesos is the currency used in Mexico.  The visa fees must be paid in pesos at the bank in Mexico.  The rate of exchange can vary from day to day, month to month.  It is important to understand a few things when it comes to having your US visa fee paid in Mexico.

It is common for our clients to wonder why there is a discrepency when it comes to the total amount for paying the U.S. visa fee(s), therefore it is important that we do our best to be as transparent as possible and explain it here.

Below are examples of the current rate of exchance as of October 27, 2017.  Amounts will vary depending on the current rate of exchange on any given day.  This is only an example using current data.

It is also very important to understand that there is a cost any time currency is transferred.  It can be either by the rate of exchange or simply a fee that is charged to process a payment; credit card processing fees.  We charge a 3% processing fee when we receive the funds to prepay the US visa application fees, otherwise that money will be coming out of our pockets. 

Example A - Discrepency in USD Amounts

The U.S. Consulate website says that the U.S. visa application fee is $190.00 USD.

The U.S. Visa Application Fee (MRV) Cash Payment Instructions state that I need to pay $3,610.00 pesos.

I want to purchase $3,610.00 pesos at a rate of exchange of $17 pesos to $1 USD.  Divide $3,610 by $17 and your actual payment is $212.35.

In order for us to pay the U.S. visa application fee of $3,610.00 pesos, we need to purchase the pesos using $212.35 USD.  If we only take $190.00 USD, we would only have $3,230.00 pesos, leaving us with a balance of $380.00 pesos ($22.35 USD).

Example B - How Currency Exchanges Operate

Currency exchange is a business in itself.  Below we explain how they make money by exchanging dollars to pesos and pesos to dollars.

We constantly get clients that tell us "I see that the current rate of exchange is $19 pesos to the $1 USD, not $17."  They are paritally right!

If I go exchange $1 USD for pesos, I would only recieve $17 pesos.

If I want to purchase that $1 USD back using the pesos I just purchased, I now have to give them $19 pesos. 

They just made $2 pesos from me by selling them a dollar and buying it right back!

That is the difference and why there is so much confusion!