Is it better to use pesos or US dollars in Mexico?
The recommendation is to use pesos in Mexico. Though some businesses may accept U.S. dollars, converting your currency to pesos is better. It ensures better exchange rates and wider acceptance. Many travelers get pesos from their home bank before their trip.
What I would do
The best advice I would give is to change enough US dollars into Pesos before you arrive to get you through the first day or two. Enough money for your taxi from the airport, something to eat or a couple of ice-cold beers or co*cktails on arrival. Let’s say around $200 – $300 dollars… this will give you around $3500 – $5500 pesos. That’ll be plenty.
From then on, use the bank ATM to withdraw pesos. At the ATM, you’re going to get the best exchange rate available.
Believe me, if you use US dollars for buying souvenirs, paying for tours or in restaurants, the attendants will be taking a peso or two off the exchange rate. Fact!
Tipping in Mexico. When and how much?
Some tips
– Ask your bank if they have any connection with a bank in Mexico. If so, your fees are going to be less using this bank. Also, ask what your fees are going to be per transaction. Withdrawing the maximum instead of lots of smaller amounts will save you more money.
– If you’re bringing US dollars to change in Casas de Cambio (currency exchange booths), keep an eye out as you’re wandering the streets to find the best rate. They may vary a peso or two. Banks can also be good too, but they can have long lines and it’s a slow process. You will need an ID to change money.
– Let your bank know before you leave that you’ll be using your card in Mexico so they don’t put a hold on your card for fraud protection.
–If you’re travelling off the beaten track a little, make sure you take pesos with you as some smaller pueblos (villages) may not have ATMs.
To sum it up
Using Mexico pesos is the way to go. 100%.
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Thank you for the tips!
I generally avoid ATM because of the fees and the unfavourable rate at the exchange offices. To change cash, there is a new mobile application Fairswap.
Broadly, we can exchange & convert cash currency in real-time by meeting with each other at a pre-agreed location.Could be a good way to find some foreign currency before travelling or get rid of some leftover after holidays.
Reply
Can’t believe you’re even asking this question. Pesos, of course. In fact, most places in Mexico won’t accept dollars, just the hardcore tourist locales. It’s akin to asking if someone should take dollars or rubles for a vacation in St. Louis, MO. When you’re in any country, use that country’s money.
Reply
How’s it going Felipe? Yeah pesos all the way, of course. But you’d be surprised how many people are wondering around the ‘tourist hotspots’ on holidays buying stuff with American dollars.
This article is to give the heads up for people coming here on vacations to help them save themselves some money.Reply
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