Paying your Bill with Pesos
FOR AMERICAN AND CANADIAN HOMEOWNERS
In the 2025 General Assembly Annual Meeting, the owners voted to start billing in pesos instead of dollars. Pilar is starting the gradual process of billing all owners in Pesos. You should start preparing to make your payments in Pesos. Payments received in dollars after June 30th will have an additional service charge and a reduced peso conversion rate to help Pilar offset the cost of handling payments US dollars. In your April 2025 statement, your HOA fee and all other costs will show up on the “Factura” or Monthly Billing in Mexican Pesos only.
BILLING TRANSITION AND TIMELINE:
STARTING AUGUST 1, 2025, your Factura (Monthly Billing) and Estado de Cuenta de Clientes (Statement) will display the Dollar amount of fees and charges at a higher amount. This is because after August 1, 2025, the Dollar amount due will be converted to Pesos at only 19 Pesos to the dollar. In addition, a US $25 service charge will be added. This service fee will be used to cover the additional costs of maintaining a US accountant to handle payments through the end of 2025. For example, starting August 1, 2025, If you pay your bill in Pesos, you will pay MX$8,000.
You can pay this in cash at the office, via check from a Mexican bank, or other international transfer
method like Wise.com. If you wish to continue to pay your bill in dollars, you will see the HOA fee has been converted to US Dollars using 19 Pesos per Dollar. Example of amount converted to US dollars at an 19-1 conversion rate:
MX$8,0000 / 19 = US $422.00
Service Fee of US $25 US $25.00
Amount to pay Pilar US $445.00
method like Wise.com. If you wish to continue to pay your bill in dollars, you will see the HOA fee has been converted to US Dollars using 19 Pesos per Dollar. Example of amount converted to US dollars at an 19-1 conversion rate:
MX$8,0000 / 19 = US $422.00
Service Fee of US $25 US $25.00
Amount to pay Pilar US $445.00
If you are remitting your payments in dollars, you can continue to send your payments to the Tucson PO Box until December 31, 2025. Starting January 1, 2026, all payments must be remitted to Pilar in Pesos. During the coming months, we will provide tutorials on how to make payments in Pesos on this web page.
Starting April 7th, Martin will send out the April HOA “FACTURA” (Monthly Billing) in Pesos using an exchange rate of 19.0 pesos per dollar. Each individual unit’s fixed 2025 HOA fees will be converted to Pesos using this exchange rate. The accompanied Billing Statement will also include any past due statements and the current April billing in both dollars and pesos. The April billing will also include a memo describing the details of the billing statements and the fact people may pay in either pesos or dollars over the next 4 months. The exchange rate is currently around 20 pesos per dollar, and has been hovering around this for a while now. The Pilar billing statements will be using a 19.0 exchange rate and will actually provide a reduction in HOA fees for those choosing to pay in Pesos. This is a good incentive to start paying in Pesos now, rather than waiting until the 4 month grace period is up.
There will not be any surcharges for paying in dollars over the next four billing months, April, May, June and July. During this four-month period, the Peso Transition Committee will be developing additional materials and videos providing the Pilar homeowners the different accepted methods of payment in Pesos. This will include more detailed examples on how to sign up and use the Wise International Account transfer app.
WHAT HAPPENS AFTER AUGUST 1ST:
After August 1st, 2025, all HOA payments made in dollars will include a $25 surcharge and a 2.0 peso reduction in peso conversion. An example of this calculation is as follows:
(Assume your current monthly HOA fee is $400 dollars)
Condo Monthly 2025 HOA payment = $400.00 dollars (existing and next four months).
At 19.0 conversion - your HOA payment will be: = $400 x 19 = 7600 pesos.
After August 1st, your monthly payment in Pesos will remain = 7600 pesos. (until the next 2026 budget year)
After August 1st, If you pay in dollars, the billing will be: 7600 pesos/ 17.0 pesos/dollar = $447.05 plus $25.00 = $472.05 dollars.
As you can see, if you continue paying in dollars after August 1st, for this example, the payments in dollars will be increased from $400.00 to $472.05. This large increase in fees is based on having to continue paying the US accountant and PO box fees for only those people still paying in dollars. Your Billing Statements starting August 1st will have these additional service charges for all payments in dollars built into the statements. These calculated peso and dollar amounts will continue until December 31st, 2025, where after that time, all payments would be required to be only in Pesos.
For the GA Assembly meeting next February 2026, the 2026 budget will be developed totally in Pesos. The annual operating budget expenditures and HOA/Misc fees will be developed and voted in pesos. There will not be any fees in dollars, and therefore no need to have to deal with an exchange rate in developing our budget. This will make our Annual budgeting process for the HOA much more stable as we won't have to make the budget based on a projected Dollar to Peso exchange rate.
HOW TO PAY IN PESOS:
All payments to Pilar in Pesos will be deposited in our HSBC Mexico, S.A. account. There will “not” be any checks sent to our PO Box in Tucson, unless you choose to continue paying in dollars during this transition period. Remember, our plan is to stop using the Tucson PO Box after January 1st 2026.
The accepted methods of Payment in Pesos will be as follows:
1) Cash in pesos at the front office.
2) Visa/Mastercard at the front office. (there will be a 3.0% conversion fee plus bank charges)
3) “Global Payment” for using Visa/Mastercard remotely. (You need to contact Martin for this option and he will email you a link to click on to make your payment. An example will be posted in the links below)
4) Mexican bank account using checks in pesos or wire transfer.
5) Wise International app transfer.
6) Other International transfer apps
The following links are provided to help you choose the method of payment that you are most comfortable with:
You can also pay your bill with a credit card. To do this you must first contact Martin to ask him to send you a link to pay by credit card. You will receive a bill with a link to pay by credit card. Click on the following example to see how this works: