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Exchanging money

Level Contributor
28 posts
Exchanging money

I am traveling next Monday to Cancun. Where is the best location to exchange currency? 1st time traveling out of the country and dealing with other currency so any other tips would be greatly appreciated.

5 replies to this topic
2 posts
1. Re: Exchanging money

We've been there about 5 times and not once have I exchanged money. They'll take US dollars. I've even stopped at little towns on the way to the ruins and used dollars. I think most resorts have a designated area for that but I'm not really sure tbh.

2 posts
2. Re: Exchanging money

We've been there about 5 times and not once have I exchanged money. They'll take US dollars. I've even stopped at little towns on the way to the ruins and used dollars. I think most resorts have a designated area for that but I'm not really sure tbh.

new york
Level Contributor
637 posts
230 reviews
3. Re: Exchanging money

Hi- I went to my local AAA to exchange money. It took a day or two for the money to arrive. I asked for various denominations of pesos. This worked very well for tipping. There are ATM machines in the hotels. Have a great trip

Cozumel, Mexico
Destination Expert
for Cozumel, Merida
Level Contributor
49,052 posts
164 reviews
4. Re: Exchanging money

You CAN use dollars if you want and they are often happy to have them. But they will give you a bad exchange rate so you will lose on every purchase. I use pesos 100 per cent and get mine at BANK ATMs which are everywhere and safe to use. Watch the ATMs in hotels. Often privately owned machines with excessive fees and bad exchange rates.

Connecticut
Level Contributor
1,413 posts
20 reviews
5. Re: Exchanging money

Robert is right. An ATM will give you the best rate. The current rate is a little over 19 pesos to a dollar. If you use dollars the rate may be as little as 13 or 14 pesos to a dollar. Other places may be better but there is no way of knowing until you ask. A credit card will also give you the best rate. Make sure to tell your bank you will be in Mexico. Also ask if they have a foreign exchange rate. Even if they do an ATM is still probably your best rate. Best to use an ATM at a bank. Never use an ATM to get Dollars. They will probably charge excessive fees.

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