Wife and I trying to decide how much U.S. cash to take with us. Will be there for three months. Seemed to have read somewhere that "some" ATM's in Cancun will give U.S. Dollars. Is that correct? I know I can get all the Pesos I want at an ATM, but in cases where U.S. Dollars are necessary it would be nice to know if I have to bring all necessary with me.
It's true that there are ATMs at some banks which will dispense either USD or pesos: HSBC on Av Tulum is one of them. How much cash to bring with you is largely a decision based on perceived convenience, rather than necessity.
My general advice is only bring enough cash to get you thru the airport and to the place you're staying, so figure $50 for snacks and drinks, another $100 for tips and transport and that should really do you unless you plan on spending big while in transit... once here just get pesos as needed from the ATM, just be wary of standalone ATM's not inside a bank as those are the ones most likely to screw you on the exchange and/or be tampered with. If you've got a Bank of America card go to either Santander Surfin or Scotiabank ATM's and it should be no-fees.. otherwise expect at 4-8% international fee on every withdrawal or purchase. I have no idea if Scotiabank Canada means you can use that bank here free of charge, but you might ask whatever bank you have if they have any international partners down here. There shouldn't be anything here that you can't pay for in pesos.. if the price is listed in dollars ask how much in pesos and just make sure the exchange isn't more than 12ish to 1, so $10 should be about 120 pesos... etc... one last thing is you may need to let your bank know you're going to Mexico or you could find yourself trying to get your card reactivated over the phone once it's been declined... some banks seem to automatically block cards if used outside the US (or Canada) without prior notice.
Thanks Thanks for the good advice. My wife was concerned about carrying too much cash with us. 39 days and counting.
I'm glad you took the previous comments as good advice otherwise you would have put a sizeable target on your back. This is my opinion only and it's for all countries your travelling too. Enjoy your vacation. Live,Love and laugh because that's what it's all about.
Just for another side of the coin. I have been going to Mexico for the past 10 years and I always just bring all the cash I think we will need and have only once used an atm for getting more cash, saves on atm fees. I carry half and my wife carries half and we have never lost a penny. Only way to paint a taget on your back is by flashing it around. Tried travelers checks once but they are a real hassle to cash imo.
Just keep in mind that there is a new law restricting the use of US dollars, better to use pesos everywhere anyway and avoid hassles. I would not carry large amounts of cash around (for anyone stalking me, I always have less than 500 pesos on me, haha).....
Mexico has placed restrictions on the use of USD. Many places now won't accept it or have limits of $100 USD per transaction. http://www.cancuncare.com/forum/living-cancun-riviera-maya/17440-dollar-restrictions-cancun.html
