cash, credit, or traveler's checks in Coz

[krick]

I'm headed to Cozumel this saturday for 8 days.

I was wondering what people do for money. One of my dive buddies is afraid to take her credit card for fear that it might get stolen. She is also concerned that not all places will accept it. She plans on taking $300 cash.

I don't feel comfortable having that much cash on me. I'm also a little concerned about leaving it either in my room, or in my dive bag on the boat when I'm diving.

I'm not too worried about my credit card being stolen and last time I checked, my CC company protects me if my card is stolen and I'm only liable for the the first $50.

I was also thinking that traveler's checks might be an option.

Any thoughts?

 

[SueMermaid]

You can use US dollars in CZM, and the ATM machines. (credit companies and ATMs give you the best exchange rate). I never bother with traveler's checks.
While traveling in most any country, especially Mexico, I bring an ATM card and two credit cards. If one uses common sense with your stuff, there's not a huge danger of being robbed. Actually, I would not bother with bringing a wad of cash, either. I don't see Cozumel as being any different in that respect than traveling to any US city.

 

[Brian Gilpin]

I'm headed to Cozumel this saturday for 8 days.

I was wondering what people do for money. One of my dive buddies is afraid to take her credit card for fear that it might get stolen. She is also concerned that not all places will accept it. She plans on taking $300 cash.

I don't feel comfortable having that much cash on me. I'm also a little concerned about leaving it either in my room, or in my dive bag on the boat when I'm diving.

I'm not too worried about my credit card being stolen and last time I checked, my CC company protects me if my card is stolen and I'm only liable for the the first $50.

I was also thinking that traveler's checks might be an option.

Any thoughts?

Life is easier if you structure things so you dont need a lot of spending money. For instance if you go AI and prepay a dive package your need for cash is greatly diminished. That said I bring all the above. I bring lots of $1s for tipping and pay by credit card when I can. I would bring at least $500 in cash plus usually that amount in travelers checks in any case. Split the cash up between yourselves and between bags.

 

[freefall2]

There is an American Express office in Punta Langosta mall across from the cruiseship dock in town. I used to change money there all the time and even pay my amex bill with cash and was never ripped off. I used my credit card at the Chedraui grocery store all the time and never had a problem there. Some of the restaurants take cards. Most places take traveller's checks.
If you're going to bring cash make it small bills, nobody ever has change. Split it up and stash it in a bunch of different spots in your luggage, that way a thief would have to be very thorough to get it all. Those secret compartment containers that look like shaving cream cans are great for that.

 

[diveborg]

Also you should be aware that some businesses either don't take plastic, or charge extra for using plastic. Local car rentals and dive OPs are the ones I'd check with first before assuming that they will accept credit cards.

 

[ggunn]

I take my ATM and VISA cards for emergencies. I take the bulk of what I'll need in traveler's checks; they're good just about anywhere, even on the east side of Cozumel where there is no electricity, and they are theft protected. I also take $50 in ones for tips and taxis.

 

[cozudiver]

We've done it different ways.
Our first trip included the travelers checks, credit/debit card, cash.

Now we're down to just the debit card and cash.
No need to mess with travelers checks. Not everyone accepts them or credit/debit cards.
Many places will add a surcharge to any credit/debit card purchases.

The best and easiest thing is to bring enough cash in small denominations for tipping during your travels to Cozumel and to cover the first day or two. Then go to the ATM when you need more cash. Remember to enter the amount that you want in PESOS, not US dollars. You'll go "DUH" when you get 200 pesos instead of 200 US dollars out of the machine. By doing it this way, you'll get the best conversion rate at the time of the transaction and avoid the surcharge from the shop which is often 10%. We've never had a problem doing it this way, and it saves us some money.
I'm betting that they're still using the 10-1 easy conversion. And the actual rate was 11.4-1 last time I looked.

Also, many of the hotels have a combination safe in each room. You set the combination each time you lock it. We've put our camera, passports, extra money, etc in there. So far, no problems at all.

Just use common sense and don't get overly concerned about it. Cozumel is a safe and friendly island.

 

[Charlie99]

I pretty much do the same as Gordon, but also bring lots of $10's and $5's for DM tips and taxis.

Since I have lots of different autopayments set up using my main credit card, I also bring along a 2nd card that would be a lot less painful to cancel if it were compromised in some way, and use that card for minor purchases at places other than the hotel.

Chedraui, the walmart-like store across the street from Plaza Las Glorias generally has a pretty good exchange rate. Using some larger US bills to pay for purchases there keeps me supplied with pesos for smaller purchases around town.

 

[azsilver]

We checked with the dive operation we used and took travelers checks to pay for our dives.

We also took USD in 1'S AND 5'S for tipping.

We used our ATM card to get cash in Peso's which we used to pay for meals and other items we purchased. (We did not do an AI)

The ATM gave us the best exchange rate and we were not charged any fees. We would only get a small amount of cash at a time so we would not have a large amount of cash on us at one time.

Many hotels have a safe---This is a great place to keep money, camera and etc when diving.

We put our hotel bill on our credit card and found we were charged an exchange fee for each charge by the credit card company. So we will not be using our credit cards unless we have an emergency.

Have a great time.

AZ Divers

 

[alcina]

I'd take traveller's cheques...no one we talked to didn't take them and the exchange rate was the same as dollars with no fees. Chedraui is great for changing them to pesos...very clear on the receipts and very friendly. There's also a change place right past Casa Denis (has computers, too) that was great. If they get stolen or lost, they get replaced. Not so with cash.

There are lots of fees when you use a credit card from the places we saw.

$5's and $1's for tips...I like them better than $10's as sometimes $20 is too much but $15 is just right...more flexible for me.