Bringing Cash or ?

Infidel wrote:"...nov. 12 i got 5000pesos for 408.28 at the atm."

That shakes out to 12.2 exchange rate.  Isn't that low?

It would be if Pedro was changing US dollars,but it's obvious from his post that he wasn't.

We access US Banks via local ATMs and the actual exchange rates are always within fractional points of the rates posted on Yahoo Finance. This evening, the exchange rate on Yahoo Finance was 12.9335 and I would expect to w/draw funds at a rate of 12.7335 or 12.8335. Some banks charge no fees, some charge no fee and reimburse for ATM fees if charged (my favorite), some charge a flat fee regardless of amount withdrawn, and some charge a foreign transaction fee of 2 to 3 percent and do not reimburse for ATM fees, if any. If you exchange at a cambio, you can expect a 0.5000 surcharge (12.9335 would result in 12.4335 exchange rate) so ATMs are the better choice.
(Does anyonelse remember the days when Mexico's cambios gave a better exchange rate for Traveller's checks than for cash?)

To me it's life as an expat and I don't worry about it. I just write off the bank fees to the exchange rates and adjust accordingly. I put in money, I get out money. Surely you didn't think that banks handled any transaction without a fee of some kind. I usually take out $7,500 pesos, which comes in under my $500 USD limit.

Say what? $500USD x $13MXN would equal $6500MXN. You must be hitting a very special ATM!