What currency should I bring

[gandalf252002 Senior Member Find all posts View Profile Close gandalf252002]

So off to the Ocean Spa Hotel in Cancun on Saturday with an unfortunate timesales presentation to boot.

While there, I am wondering whether we should be taking US, Canadian, or Pesos? I have read conflicting information as to what is prefered there.

[JWC Super Moderator Find all posts View Profile Close JWC]

Generally speaking it is better to use pesos.

"There is a new Mexican law that limits the amount of foreign currency a business can accept each month. This new law has a direct impact on visitors to Cancun because foreign currency is not as well accepted as before. Now, some places like restaurants, bars, shops, flea markets, taxis, buses, etc. may ask you to pay in Mexican pesos when before you could paid with almost any foreign currency. The truth of the matter is that you will need to have Mexican pesos at one time or another."

I use the bank ATMs to get pesos. Make sure that you use the ATMs located in banks for security reasons. Credit cards are accepted but I wouldn't use them. Credit card fraud is pretty common in Mexico and most credit cards charge a 3% currency conversion fee.

[easyrider Senior Member Find all posts View Profile Close easyrider]

We returned from Cancun 2.5 weeks ago. We were all over the Yucatan and it didn't matter if you had pecos or USD. I don't know about those looneys or tooneys the Canadians use.

We changed $300 usd for $3600 pecos and used this at mini markets. Costco, Wallmart, Mega and resort ( Villa del Palmar) we used our credit card.
Everywhere else was USD. The trade was 12 - 13 pecos = 1 usd.

We will be in Cabo tommorow and will use USD only. Thats what we did last year. We always bring some $2 bills for tips. They really get excited seeing a twosie.


Adios
Bill

[brucecz Moderator Find all posts View Profile Close brucecz]

Generally speaking it is better to use pesos.

"There is a new Mexican law that limits the amount of foreign currency a business can accept each month. This new law has a direct impact on visitors to Cancun because foreign currency is not as well accepted as before. Now, some places like restaurants, bars, shops, flea markets, taxis, buses, etc. may ask you to pay in Mexican pesos when before you could paid with almost any foreign currency. The truth of the matter is that you will need to have Mexican pesos at one time or another."

I use the bank ATMs to get pesos. Make sure that you use the ATMs located in banks for security reasons. Credit cards are accepted but I wouldn't use them. Credit card fraud is pretty common in Mexico and most credit cards charge a 3% currency conversion fee.

I agree about the credit card use. In Puerto Vallarta in the Banks you needed a passport to cash US into peso/s. The rate at the end of this January was 12.65 to 1. We only used our credit card when paying our 2 week dinning bill as owner get a 15% discount.
You get better rates away from the airports money exchange.

Bruce

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

I stopped by the bank the other day to pick up $50 in coins (2 rolls) to use for tips. It's easy to just reach in your pocket and grab one or two when you need to tip someone.

Otherwise, we get pesos from the bank ATM. We can get them from one of the local banks without an ATM fee and at the bank conversion rate.

I never use the cambios, but if you need to use one absolutely do not use the one in the airport. That one is probably the worst exchange rate you will get anywhere.

[easyrider Senior Member Find all posts View Profile Close easyrider]

We are still in Cabo and have used USD for almost everything. We used Amex at Costco. Visa at Wallmart and the resort and USD for flea market and tours.

[gandalf252002 Senior Member Find all posts View Profile Close gandalf252002]

Having returned, and only taking peso's I think it is a good idea to take a mix of both. The excursions, and some other things were only priced in US and if you paid peso's it was less. I am not sure, but for tipping we used local currency and I don't think the servers minded.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

In Cancun, US currency is all I take. Coins are harder to get rid of by locals, so I never give US coins as tips. Exchanging at a Bank is a hassle, but most hotels/resorts do exchanges. Often the exchange booths will get you less of an exchange rate. Credit cards should be used carefully and sparingly.

[Ridewithme38 Senior Member Find all posts View Profile Close Ridewithme38]

You should bring Euro and confuse everyone!

[easyrider Senior Member Find all posts View Profile Close easyrider]

You should bring Euro and confuse everyone!

Some guy at the Cabo Wabo tried that. Fun to watch