I;m going to Cancun in 2 weeks, I'm bringing $1200 cash with me do I have to declare that through customs or

Question

the customs form? How much should I convert to pesos? I plan on doing some shopping and deep sea fishing. We are staying at an all inclusive so dont have to worry much about drinks or food. Thanks

Answer 1

No need to declare anything under $10,000.  Most places in Cancun accept USD however I've found that using the ATM gets you the best exchange rate.  Yes, there will be a small fee that is charged but in the end you still save money.  The rate that the taxi's or stores use when you pay with USD is $1 USD = 10 Pesos.  If you exchange the money at your hotel, you get somewhere around $1 USD = 10.3 Peso...nothing great.  When I went to the ATM and took out 3000 pesos it equated to $287 USD that includes all the fees that were charged.  I would encourage you to bring less cash, $1200 seems a bit much to me.  Make sure you have dollar bills though to tip the folks at your resort and tour guides.

Answer 2

Through customs you only have to claim amounts $10000 or higher.  I would definitely put that in some travelers checks... or just bring a credit card and enough cash to tip.  Out of the Hotel Zone things can get a bit shady especially if your well intoxicated.

Answer 3

No you dont have to declre that amount . I think its anything over 10,000.

I would convert my dollars every 2 days. You never know if the dollar will go up or down and change value. There are banks everywhere and takes 5 minutes.

Its a bear in the US to convert pesos back to dollars so spend it there.

You can also go to Western Union now and Western Union it to yourself so your not carrying around alot of cash. Then when you need your cash , visit a Western Union and they will give you pesos when you redeem your ticket / #

Answer 4

no only have to report if you carry 10,000 and up

Answer 5

No.  You do not have to declare it.  I personally do not exchange my money into pesos.  Everywhere you go, everyone you will talk to, will accept, and probably prefer, US dollars.  It's just a lot easier that way.

Deep sea fishing is expensive.  Plan on spending $200-$300 for a shared boat, $600 or more for a private boat.  But, it is a lot of fun!  If you do catch a "big one", they will ask you if you want to have it mounted.  That can cost $700-$800, or more.  When we have gone in the past, they wanted you to pay up front for mounting it.