Coppel is one of the most popular store chains in Mexico, and many of its customers turn to it to manage their money. But what if I have cash in U.S. dollars? Can I exchange dollars at Coppel? Is it possible to do so at a branch?

There are many questions regarding Coppel's dollar exchange services.

That’s why, in this article, we aim to clear up your doubts and explain everything you need to know before visiting a branch. Additionally, we’ll discuss an alternative option to convert your money safely and conveniently.

Exchanging Dollars at Coppel: Quick Guide

Can I Exchange Dollars at Coppel?

Yes, it is possible to exchange dollars, but not directly in its stores. Instead, you must go through BanCoppel, the entity that offers this service.

Some Coppel branches have a BanCoppel unit, so you should check which one is closest to you. Of course, you’ll also need to bring your identification and cash for the exchange from U.S. dollars to Mexican pesos.

What is BanCoppel?

Simply put, it is the banking institution of Grupo Coppel, founded in 2007 to offer financial services and facilitate access to:

• Savings accounts

• Insurance

• Investment products

• Debit and credit cards

• Personal loans, among other services

BanCoppel provides services at branches located inside Coppel stores and through a network of ATMs throughout Mexico. It also has online banking and a mobile app for account management.

How to Exchange Dollars at BanCoppel

BanCoppel is a go-to option for some Mexicans to avoid scams at currency exchange houses. Plus, this process can be done quickly and securely at a teller window.

Here’s what you need to do:

1. Check Availability

• The first step is to find the nearest BanCoppel branch.

• Call or visit the branch to confirm if they offer currency exchange services.

• If they do, ask how much BanCoppel charges for currency exchange and what the current exchange rate is.

• Ask if there are limits on the amount of dollars you can exchange per day or per transaction.

2. Visit a Branch

Go to any BanCoppel branch with your valid official ID and the cash you wish to exchange.

3. Complete the Transaction at the Teller Window

Hand over your U.S. dollars to the teller and request the exchange for Mexican pesos. The bank will apply the current exchange rate and give you the equivalent amount in pesos.

4. Keep Your Receipt

Make sure they give you a receipt and check it carefully to confirm that the transaction was completed correctly.

Like other banks that exchange dollars for pesos, there may be additional requirements. So, before making the transaction, check their policies, as they may vary.

What Other Services Does BanCoppel Offer?

In addition to currency exchange and the previously mentioned financial services, BanCoppel allows you to receive remittances from the United States. This applies when using companies like:

• Western Union.

• Intermex.

• Ria.

• Xoom.

• Vigo.

These funds can be withdrawn in cash at any BanCoppel branch or deposited directly into a BanCoppel account.

How Much Does BanCoppel Charge to Exchange Dollars for Pesos?

If you receive remittances from the United States, you don't have to worry about how much BanCoppel charges for currency exchange. Since you are the beneficiary, you won't pay anything for it. It doesn't matter if it's a direct deposit, to collect through the App or to withdraw in cash at a branch.

The sender is the one who pays the company he chooses, since they charge their own commission for sending.

However, it is important to consider that they will not give you dollars in cash. BanCoppel converts the money to Mexican pesos automatically. 

You should also keep in mind that the exchange rate may include an additional margin. In addition, currency conversion may involve a hidden surcharge on the exchange rate, depending on the sending company.

Is Receiving Money at BanCoppel Safe?

BanCoppel is regulated by the Bank of Mexico, as well as by the National Banking and Securities Commission (CNBV). This guarantees that its operations comply with the country's banking regulations.

Something that also reinforces its reliability is that it works with companies recognized for their security in international transfers. The most popular are MoneyGram, Western Union, Vigo, Intermex and Ría. 

And if you are going to collect remittances in cash, you will be asked for an official ID and to be registered with your fingerprint at the teller window. 

What Exchange Rate Does BanCoppel Offer?

BanCoppel’s exchange rate fluctuates daily based on market conditions. If, for example, you want to exchange dollars, the average exchange rate in Mexico on a given date might be 1 USD = 20.5156 MXN.

For remittance transactions, the exchange rate is usually set by the money transfer service, for example:

Data recorded on February 10, 2025.

DolarApp: An Alternative to Exchange Dollars

Digital options are another alternative to exchange dollars for pesos, and DolarApp is a very convenient one. 

Why? Because you can receive money in USDc and exchange it to pesos instantly, without the need for intermediaries, with a competitive exchange rate and no hidden commissions.

With DolarApp you only have to associate a bank account in MXN to make the conversion. It is an alternative to BanCoppel and other conventional banks if you are looking for a completely digital experience. Ideal to avoid the lines or limitations of typical physical banks. 

Apart from converting and handling digital dollars, you also enjoy other services. For example, the possibility to request a virtual card and use it to make purchases at the best online stores. 

Exchanging dollars for pesos through DolarApp is free.

Frequently Asked Questions

How Much Money Can I Receive Through BanCoppel?

You can receive up to $2,999 USD per day and $3,000 USD per month (or the equivalent in MXN) for cash withdrawals at branches. For direct deposits into an account, the daily limit is $4,000 USD, and the monthly limit is $10,000 USD.

How Long Does a Transfer from the U.S. to Mexico Take with BanCoppel?

A remittance may appear in BanCoppel within 30 minutes of being sent from the U.S. to Mexico. However, this depends on the money transfer service and the method used.

What Do I Need to Exchange Dollars at BanCoppel?

To exchange dollars to pesos at BanCoppel, you must present a valid official ID (INE, passport) and the dollars in cash. Remember to check the availability of the service and the current exchange rate at the branch beforehand.