Last time we were in Cancun (2 years ago) we had travelers checks - and was surprised to find out they were hard to exchange now! What is the best way? Bring all cash (not sure I want to do that...) or use ATM? Do ATM's give USD or Pesos? Thanks!
A lot of people here will say go with the ATM, but the past 9 years I always brought a stack of cash and never had any troubles doing that. Just kept half with myself and half with my wife. Just sayin dont be afraid to bring the cash, just be smart and dont flash it around. (just like anywhere)
Thanks....one more question. Do you exchange the cash for peso's then? If so, at one of the little cash "windows" or a bank? I was ready about not bringing 100's - 50's are better. You?
It is easier to exchange low denomination bills, and carry always some MXP = Mexican Pesos to tip, take a cab, a bus or small grocery stores.
We find withdrawing Peso's at an ATM provides the best exchange rate. Generally, when you are making purchases you get a better deal in Peso's. The exchange rates in stores are usually heavily weighted in their favor. A number of people have stated. here on CC, that US currency is preferred when tipping, though I would imagine most appreciate anything they receive.
Bring fifty's or smaller. You'll have troubles with larger than a fifty. And yes we did exchange all our cash to peso's I would do like 100 dollars worth a day. Have fun!! The bank can have looooooooong lines so check the line than head to the small casa de cambio. If the lines at the bank are more than about 5 people head to the small casa de cambio.
We found an ATM dispensing Peso's just outside the Temptation Resort, in a little shop. I'm sure there are lot more around. Again, you probably get a better exchange rate using them.
The ATM in Me by Melia charges $69 per transaction. This seems quite expensive for a transaction fee. Does anyone know if the "conversion rate" (from USD to Pesos) is included in this fee? If you know of an ATM with lower fees please let me know. Cheers.
ATM Charges Note that you are subject to two charges when you use an ATM, even in a bank. The local bank will charge you to use their machine, H.S.B.C. in Plaza Kukulkan charges about 25 Pesos, about $2 U.S.. Plus your own bank will charge you for an ATM withdrawl. I deal with Royal Bank of Canada both in Canada and the U.S.A. My Canadian bank charges me an ATM fee of $5, while the U.S. branch of the same bank charges me $6. If you withdraw 3000 Pesos, or $300 U.S. the percentage is not too bad. Safer than carrying a bundle of cash with you. You can do a lot with U.S. $50's, but respect the locals and carry at least some pesos with you. I have seen tourists get on the bus, and be ticked off when they do not get U.S. change when paying their bus fare with U.S. cash. You could not get on a bus in Toronto, or Chicago, and expect to pay with Mexican Pesos, so why should you expect to pay with a foreign currency here.
