didn't charge us a fee per se, but the exchange rate when we went in October was approx. 17-1, they gave us 14-1, didn't realize till that evening AFTER I had paid for the pecos
This thread has drifted a little from the question but as to exchange rates, unless your own bank punishes you when you make withdrawals from ATMs in Mexico, that's where you get the best exchange rates- whatever the Banco de Mexico has set it for, that day. Here's what it is now. They update it every day. Banco de México My own bank charges $5 USD for using another bank's ATM, and the local bank, HSBC, charges about 29 pesos, so I withdraw my limit whenever I go to the ATM, which in my case, is the equivalent of $700 USD, in pesos, per day. As for what the locals think about it, I believe they're grateful, whatever currency you tip them in. It's easier for them to deal with USD or pesos, with pesos being the easiest for them to deal with.
We've heard of issues using the cash machines there. Don't know if there true, but not taking a chance. We just use a currency exchange office or our Credit Union. Exchange rate is always decent and nothing to worry about later. Just finished dealing with my Credit Card being compromised for a whack of cash.
I've been reading horror stories about the ATM's down there, that they know it's an inside job, something about an installed chip in the machine. I can't recall the name, but I guess if you have your phone and a suspicious hot spot name shows up while near an ATM, avoid it at all costs.
My practice has been to only ever use ATM machines in banks in Cancun and I've not encountered any problems. Some of the approaches suggested by others are even safer, though.
Lived in Guadalajara for 3 years. Worked in Mexico for 10 years. Better to change at the banks in Mexico normally. Some cities the airports are good and also the exchange houses. Check with a taxi driver or bellman they will tell you because they receive many tips in dollars and are probably changing money daily. I have changed most of my money at the money exchange houses in Cancun a little more than the banks but faster and no lines. Several near the hotel. Exchange rate are visible all over town. Always count your money after you exchange it and make sure it matches the receipt before you leave the window
For Canadians, this time around tipping in USD doesn't make a whole lot of sense because of the bad CDN to USD exchange rate. Definitely tipping in Pesos.
We was in Cancun in December for two weeks and US dollars was definitely the preferred currency in the hotel zone!!
If you use your CC or interact card in a machine that has been flagged , they will freeze your card,,,,, sucks the next time you need it . I always bring 2 cards, one attached to a low limit , and another for emergencies . As for which currency to bring ,,, when in Rome ..................
