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Amber M asked in TravelMexicoCancun · 1 decade ago

Mexican Pesos v. US Dollar and traveling to Cancun?

We're vacationing in Cancun and would like a little help with the money. We know we can exchange our US Dollar for Mexican Pesos but, where is the best place to do it? We are staying at the RIU Caribe... Should we just exchange daily there. One lump sum at a bank or at the airport? What is the fee associated with exchanging your money? Do you have to exchange cash or can you exchange using a debit/credit card? Any oher helpful information on this is greatly appreciated!

8 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    Two of the most common places to exchange are at the airport and your hotel's front desk. You can also exchange at the Casa de Cambios (banks). To be honest though there really is no need to exchange your USD into Pesos. USD are very common in Cancún and are used all throughout Cancún. Just remember if you use USD they will give you your change back in Pesos. You can use your credit/debit cards at the ATM's to get Pesos. They only give you Pesos not USD though. Another tip if you are going to use credit/debit cards make sure you notify the card companies and your bank that you will be on vacation in Mexico. If they see a lot of activity from a foreign country they will stop all activity. It happened to a friend of mine. If you really want Pesos though I would just exchange whatever amount you need for the day at the hotel front desk. I wouldn't go exchanging all your money into Pesos. There really aren't any fees for exchanging money (some places may charge a fee and others don't, but generally they don't), but just becareful because if you use USD they will try to short change you thinking you don't know any different. Good luck and enjoy your vacation!!!

  • 1 decade ago

    I recently went to cancun in october. I just exchanged my dollar bills at the hotel. I think it was 10 pesos to the dollar. If you are going to a place that accepts cards, use your card. As for the local market places use their currency. Your are going to have a lot of fun!!! While you are there be sure to check out the CoCo Bongo Club... way too much fun.

  • 1 decade ago

    You should get a pre-paid Visa. With the money already exchanged into pesos. You can do this at your bank and ask them about it. Its much easier to do this than to exchange daily, it'll just take your vacation time away. And you will save money because sometimes when you go exchange money in another country, they will charge you a certain percentage of you money you want exchange. And the money you pay can be pretty high.

    I hope this helped.

  • Alex W
    Lv 4
    1 decade ago

    The exchange rate is about 13 pesos per 1 dollar. If you exchange your dollars at the bank, you'll get 13:1. If you exchange them at your hotel or at a store, you'll only get 10 pesos per dollar.

    So go to a bank and exchange your money there.

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  • Mikey
    Lv 6
    1 decade ago

    Many Kiosk's to do this. Aiport - all over town , banks as well.

    Don't use your ATM - huge fee's.

    BAnks do not charge for this service. Kiosks may, but it's minimal.

    Also look at Western Union and a few different amount's. Go and send yourself say, $400 dollars. Another for $200 whatever. When you arrive - detirmine how much you want and retrieve. It will be given to you in Pesos at the current exchange rate. Many Western unions thruout Cancun.Need more in a few day's - go get it. When you leave you don't have to reconvert it. One last thing to do.

    Source(s): Retired in Acapulco
  • 1 decade ago

    right now the dollar is worth 13.8 pesos exchange in a bank. not in a hotel. they mostly accept cash money in mexico. not debit cards as much. i beilieve that you have to exchange in cash

  • Anonymous
    1 decade ago

    well when we went to cancun, we took money out of the bank!!!!

    I don't think u could exchange money using ur debit/credit card!!!!

    Im not quite sure, but, I suggest u bring like a few $500 in case u need it for an emergency, or to tip, or, to get the all inclusive package everything free!!!!

    We took $500 and it lasted us for 10 days!!!!

    We are going to cancun also!!!!

    Just go take money out of the bank that u have!!!!

    Bank of america or washington mutual!!!

    We use washington mutual!!!!

    If we need money we get it out of there!!!!

  • 1 decade ago

    don't Mexican would rather have dollars

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