I received a letter from my travel agent informing me that there have been changes in the currency law and as a result in the airports and hotels the US Dollar will not be accepted. The maximun amount of US currency that can be deposited into a personal account is 4000 and 7000 for a business. It is aimed at stopping money laundering. Bare this in mind people make sure you have some pesos at least. I reckon places will still love the dollar and i prefer to use it because i can calculate it back into pounds quicker in my head. Lol
Although a lot has been made of this, I wouldn't think this is much of a burden for tourists. The use of your credit cards to pay hotels and others, and the use of ATMs (they're everywhere) to obtain pesos, remain unimpaired. You can also exchange up to $300 USD/day at local banks. Legal currency exchange operations, too, are found all over the city. Waiters, and other staff, happy to get generous tips in USD in the past, remain just as happy to get them, as there are many places where they can spend them, legally and freely, at supermarkets and elsewhere, just as you can. Plan ahead, but don't worry: this is just a detail, and won't stop you from having a great time, in Cancun.
I have a trip planned to the Rivera maya area in 2 weeks. Was planning on bring US Dollars and credit cards as back up... Is the US dollar accepted or are they cracking down on it do to the new laws??
Have a look at my post, just above yours. You won't have any problems unless you're planning to deposit more than $4,000 USD per month, cash, into your Mexican bank account! Tourists are not likely to run afoul of this law; it just requires a little thought about how you'll take care of your expenses, here. Your plans sound fine, to me, icecube, unless you were really hoping to pay for everything, in cash, in USD. _________________
Would be interessting if this applies to every currency or just the US-Dollar. Mostly we Europeans get totally screwed when using foreign ATMs. ( Creditcards are not so popular here, and most of us dont have one) Hillarious fees.!! So my tactic is basically to bring a large pile of cash and exchange it at the Bank.. But changing the amount of max 300 US$ would mean if have to go to the Bank every 2nd day..... That sucks...
V...I'm going to be there for about 4 days....Plannning on a trip to Xel-Ha...I was going to pay in cash...Thinking about the Party hopper tour or just catch a taxi...Pay in cash also...LOL...I talked to my travel agent and she gave me a small e-mail telling me that i am allotted $100.00 a day. Anything over that amount will be needed to be payed in pesos/ Credit card/Traveler's checks...How strictly is this new law inforced??
Hi, ice. That $100/day limit must be imposed by your agent or tour operator, not a limit required under Mexican Law. Mexican businesses are the ones likely to have trouble disposing of large amounts of USD, with a $7,000/month deposit limit for local businesses. I can't imagine taxi drivers not taking dollars, but they will expect everything to be rounded up in their favor. You might have to pay $10 for a 100 peso fare, for example, to please them. If you had time, you could check online to see if the Party Hopper Tour charges in dollars, or pesos. With so many banks in Cancun, and so many currency exchanges around, and a $300/person/day limit at banks, for tourists, I would think this is not going to be much of an issue for you. Change your money every time you have a chance, and try to stay ahead of your need for money, rather than trying to exchange at a time of day when you see all the other tourists rushing to change their money, if you decide to bring USD with you. I never have to wait more than a few minutes at banks, but I've learned to avoid going when they first open, as that's the time everyone else shows up, creating the rush they are hoping to avoid! Steve, the owner/administrator of this board will be the best source of current info on this question, because he himself does business here and may at times be paid in dollars. He may be enjoying our five day long Mexican holiday, now, celebrating the bicentennial of Mexican independence from Spain, but he'll pop up here before long, I suspect. _____________________
There's no truth in the 'cant use dollars any more' statement. You can still use as many as you like but the problem is many companies are having trouble changing large amounts so it's easier for them if they just tell you a blanket dollars arent accepted any more. I suspect thisis the case with your TA, they dont want to be lumbered with Dollars they cant bank, so are saying this so that payments for tours etc are made in pesos in the first place. As for everyone else the only place I know stopped taking Dollars recently is McDonalds. Taxi drivers will take anything, including your first born. That said I have always believed Pesos offer the best value even for those from the US. Pesos via the atm is the way to go. See the following thread for more recent discussion on this: http://www.cancuncare.com/forum/temptation-resort-cancun/17093-mexicans-not-accepting-dollars.html
so this hasn't been discussed in a while or if it was i missed the discussion when i was looking. whats happening with the dollar there? in the past we've always brought most of our money for clubs and stuff in US but my friend got back from mexico last week (cant remember what city) and she said lots of places weren't accepting it. a few places even let them pay in Canadian but not US. i just want to know if im going to have to order pesos at my bank. i dont mind but i have a harder time with pesos than dollars lol
