Hey Alice in Cancun...or someone...I'm going to Cancun how does this ATM exchange rate work?

Question

Just deposit money in my bank and get it out in Mexico? What is the approx. difference...sounds great...especially with our inflated dollar in America.

Also I wanted to bring pepper spray for protection is this allowed through US customs? It contains tear gas...anybody know?

Answer 1

The exchange rate changes everyday (according to free market). You just use the card as the same as anywhere else, you get pesos at current rate (wich varies everyday).

The rate now is between 10.40 and 10.70 pesos per dollar (changing daily)

Answer 2

You just use your ATM card like you would in the U.S. and you receive pesos at the current exchange rate set by the banks.  Today the rate is $1.00  is 10.48 Mexican pesos.  DO NOT bring pepper spray.   I don't believe it is allowed anyway.  And unless you plan to take part in very risky behaviors, you will not need it.   Have you ever had to use pepper spray in the U.S.?  Well, you are not going to need it in Mexico either.

Answer 3

You use your ATM card in Mexico just like you do in the US. If you have money in the bank in the US, you tell the ATM how many pesos you want. It will deliver pesos, and deduct the dollar equivalent from your bank at the exchange rate when you make the withdrawal.

DON'T TAKE PEPPER SPRAY. It is not allowed on the airlines, and I don't know if it is allowed in Mexico.

Answer 4

No pepper spray! Are you thinking you are going to run into a bear or something? If you stay in town or the Hotel Zone you really will not need it. All in all Cancun is a pretty safe place for a tourist to be!

I have a bank account in the USA and when I need cash I get pesos. Let's say I want to receive $1,000.00 pesos...that $1,000 does not cost me $100.00 usd it only costs what ever the exchange rate is (which is a good deal).