Bank Card | Tagged Posts
2014
29
December
What currency should I bring to Mexico? Pesos or Dollars? A guide for first-time visitors.
29
December
Question:
Humans say...
Sarah
Canadian or American dollars.
Meredith
pesos. prices are higher if you spend in US dollars.
See
Brenton Walters
Where are you going? Many places will take US dollars, but you may need pesos as well.
Amie
Pesos
See
Tara
Depends on where, but generally it's a good idea to have both as a back up (if your bank card doesn't work you all least have something to change to pesos). Big chain touristy places will accept US but many small places and vendors will only accept pesos.
Sarah
Wow! I've never come across a place in Puerto Vallarta that doesn't take all 3.
Laura
Peso for sure! a little US just in case and also lots of places take Canadian
and watch for certain places that will give you a way better deal on Can rather than US
have fun
Armando
if you pay with USD you will pay a 10-30% premium for sure, CAD even worse... Just use pesos,
Tara
Sarah, it depends on where you go, I live in Vallarta and know dozens of places that will only accept pesos. The locals are only legally allowed to exchange so much foreign currency every month. So only larger businesses will go through the hassle.
Laura
yes true they charge more if you don't use pesos good point!!!
Sarah
Maybe it's just never a real issue cause I use my debit card and get pesos there. But I know I've used all three and have been there a lot. Was just told to make sure you know the exchange and how to calculate it. Good info!
Tessa
Thanks guys.
Pesos it is.
Charlott
We travel to Mexico about twice (+) times per year and always take some pesos and get the rest there. We never take canadian or american currency - they use pesos and have to take it to the bank to exchange it. The best exchange rate is when we use our Visa so any place that accepts credit cards, we use that and otherwise, we respect their culture and use their currency.They appreciate it always.
Patrick
Us dollars
Christin
Definitely pesos -- it's the only way you can eat/shop at places that aren't tourist traps.
Nicole
My husband and I go 4 times a year and I usually bring a bit of US and just use my bank card to withdraw pesos. It is the least expensive way to exchange from Canadian funds to pesos. The bigger cities will accept Canadian funds but the small villages will not as it is difficult for them to access a bank that will exchange the funds.
Tracy
Peso!!!
See
Jon Schmok
Countries official currency is PESOS so bring PESOS! If you show up with USD or CAD you look like a GIANT ignorant tourist who feels their money is superior and should be accepted everywhere AND you are more likely to get ripped off through a bad conversion rate or other things.
Hands down, Pesos!
You wouldn't show up in Europe with Japanese Yen if you were from Japan would you? You'd likely bring Euros with you.....
Tessa
Jon, it's a legitimate question. Last time I went to Cuba, I was expected to pay and tip in USD, and they're still under a US trade embargo! USD is a global currency and is sometimes preferred to local currency. I haven't been to Mexico before so I just thought I'd ask.
Roselynn
Both.
Parveen
Jon that was a little bit rough.
I would have the same question for many places. It isn't always about what to spend. Sometimes people do not want to withdraw money from a card abroad so they bring cash to convert.
Eg. In Cuba it is smarter to bring CAD instead of USD for conversion. In the Philippines, even when the CAD was higher than USD, a better rate was being offered for USD. In Japan, bring USD, to convert, etc.
I always take extra CAD or USD to convert as needed, and many people might have this question
Cory
Pesos for sure. Atm withdrawals down there ,don't bring much cash
Lynn
you can bring either and both are accepted. I always find that if you use their currency they like it better. It is easy to exchange at the airport or if you use your ATM card you can get pesos out. ATM's are everywhere.
Heather
I take both - keep in mind they have to pay to convert usd to pesos
Deborah
Both...they do like the Canadian dollar in most places. The bank has a better rate for exchange than other places!
Lynn
It is handy to have some pesos for tips and taxis as they usually don't like to take US $$
Armando
Well said Jon ....
Rubina
The banks no longer take USD dollars, but they will take Canadian no problems. Take a few pesos too for tips etc just to get you by until you get to a bank.
Sarah
The staff at three hotels I've been at have told me they prefer their tips in US dollars. Guess everyone is different. But regardless, you'll be fine no matter what - bank machines everywhere! Just like here.
Spencer
Definitely bring both. Like Sarah said, a lot of the housekeepers/bartenders/hotel staff prefer to be tipped in US dollars, and even a lot of the vendors that try to sell their wares/services on the beaches prefer US dollars. So last time we stayed at an all-inclusive in Puerto Vallarta, we brought US dollars for tipping the hotel staff, and pesos for when we went into town to check out some of the smaller shops and restaurants.
KathyDre
we had many vendors asking us for Canadian money! no need for pesos at all, US money is easier
Gena
I bring Pesos to buy things when I am in town and $5-10 US a day in $1 bills to tip for good service.
Tara
Lots of tourists tend to tip more when it's in US instead of pesos
I have many friends who work in the industry here in Mexico. Ex: If the tip amount would be $3.50 (50 pesos) many will leave $5 instead meaning more money for them
Tonia
Pesos!!!
See
Marji Stevens
Singles (US dollars) for tips. Many currency exchange places do not take coins so Loonies and Twoonies are useless. In Cuba, the workers had to exchange loonies with CND tourists.
Melissa
Take both!
Bernice
Take a little American to get down there. Then use your bank card to take out pesos. The locals appreciate that.
Lorraine
They prefer us but I agree with Gina
Kelly
Take US we went in January and took pesos. Booked all our excursions and by the end of the week when we came to pay for them the peso dropped we lost out on doing a lot of things. But if you pay in dollars you'll get change in pesos so watch the exchange rates.
Grayson
When I went down to Cancun a few years ago, USD was king.
Marianne
Pesos
See
Stephen J Diebolt
Take pesos. If you bring USD, you will pay the exchange from CAD. Then you will pay it again going to pesos. The Mexican currency is the peso and every hotel and resort will accept them. Many small vendors only take the peso or really burn you on the exchange.
Cory
Grayson the reason US dollars seems king is you, the consumer, gets a much worse deal. A few years ago with the peso being 12 pesos to a dollar, when you paid with dollars, vendors were giving 10 to 1.... for an extra 20 percent, they don't mind running to the bank at the end of the day! Pesos ALMOST always gets you a better deal
Shannon
I brought both but ended up coming home with cash. I used my card for the few purchases I made or excursions. That way you get the daily exchange rate. But I would advise small bills in USD for tips and bus fares
Kate
Where is Mexico? PV and Cabo are definitely pesos, Cancun is a mix of both I find. Pesos a better deal usually
Nola
I take both. I like American for tipping, etc. in the resort, but when Im buying things, I prefer to pay in pesos while off the resort
Cindy
Handy to have lots of lower denomination pesos for tipping...us or pesos for shopping work just as well, just try to remember your conversions so you have an idea what stuff is really costing...not everything's a deal.
Dean
In a resort compound you can bring US, but in real Mexico bring Pesos; works out better on the exchange rates
Randy
I would just bring pesos, out of respect to the people, the country and their currency. How do you feel if people could only pay you here in USD? Then you've gotta go to the forex place and convert it. You will have a better travel experience if you integrate yourself into the culture more.
Helen
I do a wallet sized exchange chart in excel before i travel so conversions are quick and easy and you dont get ripped off.
Sarah
I live in Vic and just about every business here takes USD. It's not insulting to pay in another currency
Patty
Yes Sarah, but most take it on par with the Cdn $ so they are doing very well in this transaction.
Sheri
Both
Darlene
American
Randy
It's not at all insulting, but the people receiving USD will happily oblige because they will charge more for your 'convenience'. From my experience, the locals tend to think of you more as a tourist, a gringo and an American, which they may already assume that, but you are removing any doubts that they had. It may be a subtle difference, but you'll notice it's better to integrate yourself into the society than to look foolish unnecessarily paying extra for things. The last thing I'm going to mention is that a lot of people in Mexico work 12 hour days, six days a week, and to afford a decent lifestyle, they live far from the city and spend a lot of time on the bus getting to and from work. Forcing them to go to a currency exchange bureau isn't exactly good for them.
A.I. says...
Should I Bring Pesos or American Dollars (or Both) to Mexico?
When planning a trip to Mexico, one of the most common questions that arise is whether to bring Pesos or American dollars, or a combination of both. The answer lies in understanding the currency situation in Mexico and considering your travel plans and preferences.
Mexican Peso (MXN)
The official currency of Mexico is the Mexican Peso (MXN). It is widely accepted throughout the country, and it's recommended to have a sufficient amount of Pesos for your daily expenses, such as food, transportation, and souvenirs.
Carrying Pesos has several advantages:
- It eliminates the need for currency exchange, which can be time-consuming and often comes with additional fees.
- Many smaller establishments, street vendors, and local markets may not accept foreign currencies, making Pesos essential for transactions.
- Using the local currency allows you to better understand and negotiate prices, as well as avoid potential overcharging due to currency conversion rates.
American Dollars (USD)
While the Mexican Peso is the primary currency, American dollars (USD) are also widely accepted in many tourist areas and larger establishments, especially in popular destinations like Cancun, Cabo San Lucas, and Mexico City.
Carrying American dollars can be beneficial in the following situations:
- If you plan to visit multiple countries during your trip, having dollars can make currency exchanges more convenient.
- Some high-end hotels, resorts, and restaurants may prefer to quote prices in dollars, especially in areas frequented by international travelers.
- Having a small amount of dollars can be helpful for emergencies or unexpected situations where you may need to exchange currency quickly.
The Best Approach
The ideal approach is to carry a combination of both Mexican Pesos and American dollars. This provides you with flexibility and convenience during your trip.
Here are some tips for managing your currency:
- Before your trip, exchange a portion of your funds into Mexican Pesos. This will cover your initial expenses upon arrival, such as transportation from the airport and your first few meals.
- Carry a reasonable amount of American dollars as a backup or for situations where dollars are preferred or required.
- Once in Mexico, use local banks or authorized currency exchange offices to exchange additional funds into Pesos as needed.
- Avoid exchanging money on the street or with unofficial money changers, as you may receive unfavorable rates or counterfeit currency.
- Use ATMs affiliated with major banks to withdraw Pesos directly from your account, as this often provides the best exchange rates.
By carrying both Mexican Pesos and American dollars, you'll have the flexibility to make purchases and transactions with ease, while also being prepared for any unexpected situations that may arise during your trip to Mexico.
Tessa
Should I bring Pesos or American dollars (or both..) to Mexico for a trip? Thanks