motor_city_girl

DH and I went to Mexico last in 1998. We only took dollars or used credit card. Is the dollar still preferred or do we need pesos for markets, etc.?

suze

Where in Mexico? (it's a different answer depending on your destination)

motor_city_girl

Oh yeah! Cancun.

SusanInToronto

The thing to keep in mind is that if you pay in dollars, you'll get your change in pesos. So if the exchange rate is 10 point something, they'll give you 10. You'll lose out. I usually take some USD but I tend to use ATMs to get pesos or use my visa (where I can).

suze

The dollar might be "still preferred" because they would be making money off the exchange, more than if you purchased in peso ;-)

I know Cancun and Cabo tourist areas do accept USD, whereas other parts of Mexico you definitely would need peso instead.

motor_city_girl

Thanks guys!

Dude

Never dollars anywhere in Mexico. You lose on the exchange.

motor_city_girl

Dude!

MikeT

I've never understood the aversion to stopping at an ATM machine and getting money of the country where you are visiting. Isn't that part of the "experience" of travelling to another country? I think it's something of a myth that people in Canada or Mexico, for instance, would rather have US$.

motor_city_girl

Thanks Mike. I have traveled to many other countries and used ATMs. No aversions here. I was specifically asking about Mexico because of our previous experience.

Also, we are only going for a short time and I don't want to be bothered with finding an ATM. I would rather just get a few pesos from my bank for market shopping at places that do not take credit cards.

Smarmy response noted. Thanks for playing.

MikeT

You can't walk a block in Cancun without finding an ATM. There are a number in the airport and probably in your hotel (if you are staying in one).

My rule is if you are going to a country with their own currency, you use it. Those people in the markets are forced to take your dollars to the bank to get it exchanged, since Mexicans aren't going to be using dollars in every day use.

"Smarmy response noted. Thanks for playing."

If you didn't want people who disagreed with you, why bother posting?

motor_city_girl

Disagreed? I was asking a question and appreciate polite replies. It was your tone and word choice that bother me.

TioGringo

MikeT might have phrased his reply a little more gently, but his point is correct.

The fact is that the dollar is *never* "preferred", not even in high-tourist areas like Cancun. It's tolerated with a smile, for your convenience, but rest assured, you *WILL* be paying for it --- often in 2 or 3 ways, sometimes hidden from you.

You're also aware that most U.S. banks charge unwarranted "exchange" fees or "foreign transaction" fees, right? There are a few who don't, mostly because there really is zero cost involved for a bank to handle a non-U.S. charge. Historically, MBNA didn't do this, but then they started tacking on the charges even before their cards got taken over by Bank of America. I think Capital One is now the biggest card issuer that does *NOT* routinely rip off their customers with foreign exchange fees.

As for the comment about ATMs being everywhere in Cancun. That's true. It's also true that it's generally *CHEAPER* for an American to use a Mexican ATM than it is to use any U.S. ATM (other than those owned by your own bank). Excessive fees are again the reason. Mexican banks sometimes charge a terminal fee, but it's often 50 or 75 pesos (about 1/3 what many U.S. banks charge).

And of course, there's always the basic exchange rate "gotchas" that you're going to pay if you do use dollars instead of pesos. The street rate in the markets will *always* be higher than what you'd pay from your ATM, after all, as was pointed out, the people accepting your dollars have to pay the fees to exchange your dollars into something they can actually use to pay their bills. It's only right that the fees get passed on to you, almost invariably doubled or more for your "convenience".

Lots of places where you *CAN* use dollars almost exclusively. But just understand that you *will* be charged more for everything you buy, you'll be hit with more and higher fees, and that your vacation will ultimately end up costing more than mine will. If you're cool with that, everybody's happy, just don't go believing for one minute that "the dollar is preferred" anywhere in Mexico. That's just plain nonsense.

Have fun!
Mark
www.tiogringo.com

suze

I think it is only polite and certainly not difficult to get and spend peso.

Your experience in 1998 seems to be that USD was preferred then. I have never experienced that.

Since you do not seem concerned about exchange rates, just take some cash and change it at your hotel front desk.

motor_city_girl

Like I said, I was asking because of our previous experience. This forum is usually full of helpful people with current info.

Our last trip out of the country was to Italy and we got slammed with extra fees for using our credit card and ATMs even though we were told we would not. Another story, another problem.

We are only going to be in Cancun for a long weekend and I don't know if we will even need any cash. I just wanted to know that IF I did do some shopping at places that prefer cash, should I have pesos or dollars.

I appreciate those of you who responded kindly. I must say, I have been using this form for a while now and never have I had such curt reponses. It's not like I asked you for your first borns!

MikeT

People have been helpfui. They've given the explanations and experiences to support their opinions. You appear not to want to hear that answer, which is fine, but it's not that people haven't been helpful.

Almost every person has said get pesos, even for your short stay. That appears to be a consensus.

motor_city_girl

One more thing and I am done, I never accused anyone of not being helpful just kind of rude in the way the replies were received.

Before you even replied, I think I had my answer. I understand completely what suze, Susan and Dude said and I appreciate the help. I was just taken off guard by the words you chose. MY experience in Mexico was obviously not the norm. I appreciate the information, after all, that's why I asked the question.

I can admit that I overreacted to your comments. I was just surprised by your response.