15

I believe it is illegal for banks to take $100.00 dollar notes.

16

heyduke,

I don't know if it actually illegal to take $100 bills, but they are the most counterfeited along with 20s, so there is a high alert on them. Also, Mexican banks get nervous and may not accept bills that are damaged, torn or marked in any way.

17

Banks will take 100 USD bills (no problem) although they may not take them if they are damaged. Damaged peso bills will be exchanged at a bank at no charge.

18

Banamex, Bancomer, HSBC, and Scotiabank told me they could not take dollars for pesos unless I had an active account with them. They would not take a hundred dollar bill to save my skin in Lazaro Cardenas. I am inmigrado so that wasn't the issue.

19

I thought the Mex govt made it illegal to take $100.00 dollar bills to stop money laundering from Drug cartels.

20

There is a law limiting purchases to 100 USD cash but nothing governing size of bills. It is true that in some areas the large bills get refused if counterfeiting is considered likely.

21

"¿No vale nada el dólar?"

22

Hey, thanks....now THIS is what I was looking for, specifics re denominations that CAN be changed into pesos etc. Thanks alot for the amplification esp which banks don't do exchanges w/o accounts. I appreciate it!

23

I live part-time in a little town just outside of Puerto Vallarta. The major supermarkets will accept USD at the cash register at pretty much the current bank exchange rate. However, they will not accept bills that are a lot higher than your purchase price. Like, if you are buying about $20.00 USD worth of groceries, they usually will not take a $100.00 dollar bill. Only a $20.00 in that case. Again, they must be in pristine condition.

A pet peeve of mine is sort of related to this. Many tourists, mostly from the U.S. and Canada, leave $1-2 for the hotel maid every day. They don't realize that USD cannot be used by locals as ready cash to pay for things like bus fare and other stuff. Also, most hotel maids and other service workers sometimes have to stand in long lines at a bank in order to exchange the USD for pesos. Most work 6 days a week, so they have to do this on their only day off.

People say, "But the merchant at the flea market asked me for USD." Sure he did; the current exchange rate is about 13 pesos to the USD and he is probably giving you a rate of 10 or 11 to 1. You lose, big time. Also, entertainers in hotels and restaurants often have a tip jar nearby or there is one on the bar. The jar is usually pretty much filled with USD. It's not to encourage tipping in USD. Actually, most of the bills are torn a bit or have marks on them, so they are worthless at the bank.

Moral of the story: Notify your bank about the dates you will be in Mexico and use ATMs. If you're from the U.S. or Canada, your bank may have an affiliation with a bank in Mexico and you will not be charged a fee when using an ATM in Mexico. My debit card is with the Bank of America and I pay no fees for ATM transactions with Santander and Scotiabank machines in Mexico. If your card is compromised, it's probably a good idea to have some cash with you, but make sure the bills are in pristine condition.

24

THanks.