Hello,
I will be traveling to Mexico for the first time. When I travel in the States, I use my credit card for all my purchases. Safer and I get frequent flyer miles! Is it ok to use a credit card for most all my purchases in Mexico or would it be more cost effective to exchange for Pesos before I go?
Thanks Larry
Cash is king in Mexico. Credit cards are accepted at the better restaurants and such in tourist areas, but for smaller purchases in local tiendas, cash only. Bring your atm card to get cash as needed.
Elpelon,
What are the most reasonable ATM's to use with a Bank ATM card and will I be receiving pesos from the ATM or USD? Better to use Pesos or USD?
Thanks
When, where and for how long will you be in Mexico? What's your style of travel and at which price-point? How many of you are traveling together, and will you be paying for anyone but yourself? Which is your home country? Do you currently have a bank account or accounts and what have you learned from your bank(s) about fees they and others will charge you for using an ATM or credit card in a foreign country?
The national currency is the Peso, and in some destinations USD are accepted ... Pesos are probably what you should be using. We see comments posted to discussions here at TTMB that It's becoming difficult for many visitors to exchange USD for Pesos. The widely-held belief based on the experiences of frequent travelers to Mexico is that obtaining Pesos via an ATM is preferable because of exchange rate and 24-hr. convenience.
Relatively few ATM machines in the country dispense USD. Larger and more expensive hotels tend to accept credit cards, as are many restaurants. Pesos are the currency for most small restaurants, hotels, markets, etc. Airline's, auto rental companies and bus transport companies accept credit cards.
LW
The only ATM's I try to avoid (because of their higher fees) are Scotia and Banorte. But even then, in the big scheme of things, local ATM fees will only be a relatively tiny part of your overall travel budget. Just try to make fewer large withdrawals rather than a bunch of smaller ones to minimize whatever fees your bank might impose in addition to the local fees.
Several years ago, I saw some dollar dispensing machines in Oaxaca city, but I didn't recently. I've read however that they're more common in places like PV. Why people would want dollars, I have no idea. You'd still be receiving change in pesos anyway, in addition to a poor exchange rate.
I get pesos from a bank owned ATM like Banamex, HSBC, Santandar, etc. and use the machines located either inside a bank or another heavily trafficed area like a large grocery store. Less chance of these machines being tampered with.
I only use my credit card for what I call "big ticket" items like airfare, hotels and rental car and once in an expensive restaurant.
Agreed with other comments. if your trip is short, may as well change your USD to MXN before you go. But take your bank debit card and a credit card as well. Tell your bank about your travel plans so they don´t freeze your account when they see you try to withdraw pesos in Mexico.
Hello fellow travelers,
I have about some Trinidad & Tobago money (about $1,000 CAD) left over from my last year's vacation. I thought I would go back to TT so I didn't exchange it back to CAD. Would I have any trouble converting that into pesos when I am in Mexico City? Also, I have read Scotia bank is very popular in Mexico and South America. Are there any TD bank ATMs?
This topic has been automatically locked due to inactivity. Email community@lonelyplanet.com if you would like to add to this topic and we'll unlock it for you.