Best exchange rates for the Peso
May 26th, 2003, 08:29 PM
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Best exchange rates for the Peso
Hi! We're going to Cancun next week and we're staying at the JW Marriott. We would like to know where the best place is to get the best exchange rates for the peso from the dollar. Also we would like to know the best method of payment in Cancun: dollar, peso, traveler's check, or credit card. Thanks for your help!
May 27th, 2003, 05:14 AM
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ATM machines and credit cards will get you the best deal on exchange rates. Some people like to be cautious with credit cards in Mexico due to fraud, however. on trips to Mexico I ususally make a couple of withdrawals from the ATMS when I need money. I carry traveler's checks for a back-up, but you will loose on the exchange over the other methods. In general you will save a little using pesos over dollars because people usually figure them at 10/1 for purchases and the exchange is usually better than that.
Jun 27th, 2003, 06:05 PM
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I have been going to Mexico 2 times a year since 1997, and we use US dollars, the only time we use pesoes is for the bus, it cost 60 cents(US) but if you do not have the exact amount they tend to cheat you on your change.They do not take any of the US coins, only bills. I also use my credit card, the only problem with that is depending on your credit card, your credit card company will charge to convert it into US dollars. Most hotel rooms have safes in them. We always carry cash, and lock up any money we do not plan to spend. Have a great time.
Jun 28th, 2003, 09:16 AM
#4
I take US cash and exchange it at a bank or cambio window for pesos. And/or withdraw in peso from an ATM. But I vacation on the Pacific coast, and regular posters here say it is OK to use US bills in Cancun (a different world from any other part of Mexico!).
If you use travelers checks I would plan to cash them at a bank, rather than in a shop or restaurant. I only use my credit card to pay the hotel bill.
If you use travelers checks I would plan to cash them at a bank, rather than in a shop or restaurant. I only use my credit card to pay the hotel bill.
Jun 30th, 2003, 05:51 AM
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I am in Mexico 6-8 times each year and always use the peso. I feel that it is easier and I do come out ahead in the long run. (also, I always try to use the local currency of any country I visit)
For exchange, I use the ATM or local banks and find these are usually the best rates.
For exchange, I use the ATM or local banks and find these are usually the best rates.
Jun 30th, 2003, 06:18 AM
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I have traveled to Cancun several times and exchanging dollars to pesos is not worth it. Dollars are accepted everywhere and with the exchange rate at about 10 to 1, it is simple to convert pesos into dollars. Withdrawing money at ATM's is safe and the exchange rate is always the best.
