Currency Conversion - Pesos for Mexico

[msouther]

Hey Folks,

I have been to Mexico quite a few times as I have family there. Normally I just bring Canadian money and my father in law exchanges it there for me.

I am going with a couple buddies and I have heard that US money is now being discouraged by locals as well.

Where is the best place to buy pesos? Calgary Airport? Puerto Vallarta airport?

I was thinking of just taking my credit card and using that wherever possible. I could also just withdrawal from ATM's as well.

Leaving on Thursday. Thanks for the advice.

[kaput]

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[epp01]

I was in Mexico about 2 weeks ago and brought down American money and went to quite a few places and never had an issue with it at all. We went to a few stores and such that actually had computers to convert peso's to CND or USD and the exhange rate was like 1.7 CND vs 1.5USD so if I would have paid in Canadian it would have been cheaper.

[leftwing]

Just a heads up, maybe call your bank and let them know your going to mexico. One time when I went I used my credit card a few times and my bank thought it was suspicious so they put a hold on my account. Unnecessary hassle.

[R-Audi]

The Mexican gov't is taxing any locals that bring in US cash to convert, so less and less people are taking it... and the ones that are typically give you a shitty rate to compensate.
As others have said, take some cash out from a bank (Have to be head office) or an exchange. Once you are down there you can use your bank card.

[flipstah]

I let my CC company know I was going to Mexico for a week to avoid hassles. They love USD more than Peso but the conversion is 1USD:10Pesos vs. 1CAD:14Peso at YVC (when I went, that is).

[puya.ro]

USD is the best to have if you stay at a resort.
Pesos is the way to go for anything else there.

Dont exchange at YYC nor in Mexico. You will get better rates at the bank you're with.

Make sure you have your CC ready for use in case of an emergency but if I was you I wouldn't use it where not needed. CC fraud is common there.

[danno]

just got back from playa on saturday, i stayed at a Riu and they don't except US dollars. you can still tip in US but nothing else. in town they except US but i found a few places were charging more for it. i would grab pesos. first time i had trouble with US dollars down in mexico.

[Cos]

http://forums.beyond.ca/st/313577/wh...ake-to-cancun/

Doesnt really help with WHERE to exchange but gives you an idea of what you could take.

[msouther]

Thanks for the responses. I will most likely buy some pesos before I go just to be safe. Not a huge amount though and then use my credit card when possible. I have used it in Mexico City a number of times and never had an issue.

The reason the US dollar is so discouraged is because of the amount of counterfeit money (US obviously) in circulation in Mexico. The government is trying to crack down on this as it is devaluing the peso. According to my father in law and what I translated so might not be 100%.

[gatorade]

Originally posted by danno
just got back from playa on saturday, i stayed at a Riu and they don't except US dollars. you can still tip in US but nothing else. in town they except US but i found a few places were charging more for it. i would grab pesos. first time i had trouble with US dollars down in mexico.

Heading down to playa on friday for a week, how was the weather?, did you ever head down to 5th avenue?, how was the partying and what clubs did you go to?, we are planning to go to Coco bongos, senor frogs and blue parrot.

[danno]

the weather on my iphone wasn't accurate, it was good though. it rained the first day then sunny till we left. 5th ave is good for buying all the typical junk from mexico. it was just me and the wife so no clubbing, in cancun we went and coco bongo was the best. senor frogs isn't a club more of a pub that can get a little crazy.
it will be good as long as it gets sunny, it shows some rain but who knows.

[gatorade]

weather from what I saw showed raining pretty every day for the past month, but from what i've read it only occurs for a few minutes at the time, when I went to pv it only rained twice and for about 20 minutes.

[msouther]

Just as a follow up. I didn't bring any cash but took my debit and credit cards. Used credit cards where possible and then took out pesos at an ATM. You will want to take out as much as you can as it charge you about $3 on the transaction then your bank will charge you another $5 or $6.

My buddies and I used pesos, CAD and US $ and didn't have any problems, even at the markets.