Hotels are notorious worldwide for giving very poor exchange rates. And again you can use the US dollar anywhere for purchases.Īs is true in many parts of the world exchanging money can vary in cost depending on rate and any exchange fees (commissions) or taxes and these can vary based on location. Whatever you do do not exchange before you leave the US or at the airport or the hotel front desk since you will not et the best available rate. Again you will get the best rate since you are getting the official exchanger ate set thAt day, however the multiple fees may eat that up somewhat once again. You can also go to Banamex(Citibank) or any other bank and use the ATM there but expect to pay an exchange fee which your bank can tell you ahead of time what that percentage is plus the withdrawal at an outside bank fee, whatever that may be. Their exchange rate for cash is the best out there, however the only way they will do the exchange is if you pay for a purchase with US currency. Both in Cancun and Cabo you can go to Wal Mart to buy a small item and pay with a US20 bill and get change back in pesos to use for incidentals. But the savings you get in buying with the credit card due to the exchange rate you will receive is far better and you are still ahead.Īs for purchases outside the hotel you can pay in dollars wherever you go. If they charge you fees the most you are out of is a few dollars. If you have a card with foreign exchange privileges where they don't charge you extra fees overseas that is even better. The credit cards give you the best exchange rates.
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