Cancun trip - should I use US cash, pesos, credit cards? For best exchange rate?

Question

I'm going to Cancun next week. I've read so much stuff online I don't know what to do! Some things say take $100 USD in all single dollar bills and take another 100 USD equivalent in pesos. What do you think is best?

As for getting the pesos - what will give me the best exchange rate - getting them at a currency store here in the US, at an ATM in Cancun, or at a currency place in Cancun (definitely not at the hotel!)?

Do credit cards give good exchange rates if I want to charge something?

Thanks for all suggestions, I don't want to get screwed or in trouble!

Answer 1

Yes, definitely bring plenty of dollar bills and five dollar bills, they are good for tips, small purchases and bus fare.(65 cent for bus fare and they don't carry change for big bills) If you need pesos, use the ATM machines, they disperse pesos but in bigger bills.

IMPORTANT: Check with you credit card company, some cc charge a transaction fee when you charge. 3%. Visa, MC and American Express do. My Capital One doesn't. (last I checked)

The conversion rate as of today May 20, 2008 is 10.386 pesos to $1.00. The peso is worth a little more than a dime. Not nessary to convert your dollars unless you live in Europe. Dollars are widely accepted.

Yes, the peso is the Mexican currency but they love our dollar bills.

We always bring a combo of cash, credit card and ATM card. (ATM best exchange rate)

Good Luck and have fun)

MORE INFO:

There will always be a debate, to use dollars or pesos. Use what you are comfortable with is the best advice I can give because it's about even now any way. Don't worry about  a few pennies.

A friend of ours gave the bus driver 200 pesos ($20 appox) instead of 20 pesos ($2 appox) and never got any change back. Be careful with pesos and the zeros on the bills.

Answer 2

viva mexico

Answer 3

ok i went to mexico and i went to a nice resort ( i recommend it) it was called the iberostar rivera maya in mexico i loved it there i used american money but just remember you will be getting mexican money back but it really doesn't matter you can also go to your bank and you can exchange for mexican money btw there used to american money because it is a tourist attraction!!!

!remyfier765!

Answer 4

Pay in pesos.  Hit the ATM in the airport when you get there.  If you want about one hundred dollars, the you ask for one thousand pesos.  There are plenty of ATMs in Cancun.

Credit cards give the next best exchange rate--so it's not too bad.

Answer 5

Tips should be given in cash, pesos are preferable by the locals because they cannot be used in all parts of Cancun. However, dollar bills will not be turned away. I prefer to use pesos when purchasing items such as souvenirs and a drink here and there. Credit cards offer the best exchange rates for sure, because they give you the best rate for that particular billing cycle. Most Cancun restaurants accept credit cards, as well as the shops at the malls. There are also ATMs at the malls and many resorts, but like with credit cards, make sure you check with your bank about the transaction fees before you travel.

Have fun planning your vacation in paradise,

212eric

Answer 6

u can pay it all in US Cy.

Answer 7

Hi

Bring a small amount of cash in Mexican pesos or U.S. dollars and the rest in travelers' checks or on credit and ATM cards.

Get a bag of those tie at the waist and Tre what you mention there.

So check other tips in http://tourmaya.blogspot.com

Greetings

Answer 8

Use your ATM card to pull pesos out of a Mexican bank.  The exchange rate is good, and the service fee is OK provided you don't go back too often.

If you pay in US dollars or credit cards, merchants will be very glad to take your money but you cannot bargain as well.

Answer 9

hi amigo! I'm from Cancun and i work selling tours and activities, my advise to you is to use dollars in everything you buy, because everyone in Cancun accepts dollars (except phone cabins and soda machines obviously), the thing is that when you change your dollars to pesos you immediately lose a percent of your money thanks to the exchange rate, if you decide to change dollar to pesos do it at a currency place in Cancun, try to use cash as most as you can, most of the places charge a percent if you use your credit card, don't ever pay more than 12 dlls for a taxi in the city (an airport-city trip is like 20 dlls) if someone ask you to go to a time share presentation, don't run away, is better if you try to get a good deal with the guy inviting you (two free tickets for Xcaret or Chichen Itza could be a good deal), keep your sunblock very close, an innocent evening at the beach can ruin your whole trip, believe me, the "must go" spots are Xcaret, Chichen Itza, and Isla Mujeres. try to invest at least one day in every place, i hope you have a very good holiday and thanks for visiting us! remember that every "Cancunense's" work is to promote our city by making the tourists have a wonderful time, the best promotion is the one that you make when you talk to your friends about our city when you come back, hope i helped you, bye!