Bring your ATM ca rd
The exchange rate changes slightly every day, and you can convert
currency online. Lately the rate has been between 8 and 10 pesos to
the US dollar. Each bank or money exchange will have a slightly different
rate.
You can get the best exchange rate by using your ATM (bank machine card)
or credit card in a Mexican bank machine. Both the local bank and your
own bank will charge you a small transaction fee, but you get the daily
bank rate which is much better than the rate given by street front exchange
houses. Plus you don't have the worry of losing a wallet full of cash.
Bank machines are easy to find in Cancun, Cozumel and Playa del Carmen,
so get money when you can. Most banks have a $200 (that's dollars, not
pesos) daily limit, so plan ahead to get larger amounts of money.
Every tourist town has money exchange offices that will trade travelers
checks and cash for pesos. Exchange houses and banks will generally only
change currency from the USA, Canada and the Euro. Citizens of most other
countries should carry cash in dollars to avoid problems exchanging money.
Travelers checks are a safer option, but usually are exchanged at a worse
rate than cash.
To avoid getting ripped off, shop around for the best rate
and the lowest exchange fee first. Here is a ranking of the best to
worst places to exchange money:
- Bank machine/automatic teller
- Bank
- Exchange house (casa de cambio)
- Hotels
- Airports - the worst rip off around
You can exchange money on the street, but it is not recommended.
|
The
Corn Grows Ripe A Newbery Honor Book
Frommer's
Cancun, Cozumel and theYucatan Completely updated every year by the
experts. The
People's Guide to Mexico Cultural encounters and how to get what you
want out of Mexico |