Cash only?

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ms-
I mentioned travelers' cheques only because they were the universal standard in a day when someone MIGHT have had a Diners' Club card, but that was about it. Today cash is also associated with fraud, there are estimates that up to 40% of the US cash outside of the US is counterfeit. Speak to the US Secret Service (Treasury Dept.) and you may never want to touch the stuff again.(G)
 
Rred:
ms-
I mentioned travelers' cheques only because they were the universal standard in a day when someone MIGHT have had a Diners' Club card, but that was about it. Today cash is also associated with fraud, there are estimates that up to 40% of the US cash outside of the US is counterfeit. Speak to the US Secret Service (Treasury Dept.) and you may never want to touch the stuff again.(G)
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New US paper currency drops that ratio way down, if it ever was that high, which imho, it wasn't.
 
mediumone:
New US paper currency drops that ratio way down, if it ever was that high, which imho, it wasn't.
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Did the new currency make the old stuff go away? I agree though. I don't believe there is that much fake US currency being passed. People in Mexico look at it too carefully.
 
Rred:
ms-
I mentioned travelers' cheques only because they were the universal standard in a day when someone MIGHT have had a Diners' Club card, but that was about it. Today cash is also associated with fraud, there are estimates that up to 40% of the US cash outside of the US is counterfeit. Speak to the US Secret Service (Treasury Dept.) and you may never want to touch the stuff again.(G)
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BRT:
Did the new currency make the old stuff go away? I agree though. I don't believe there is that much fake US currency being passed. People in Mexico look at it too carefully.
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And that our (US divers) bills are coming from within the states not without.

But it did get me thinking and I found this. Think I will check out my pesos more closely.

When Exchanging Currency, Make Sure It Isn’t Counterfeit
 
BRT:
Did the new currency make the old stuff go away? I agree though. I don't believe there is that much fake US currency being passed. People in Mexico look at it too carefully.
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No the old stuff wasn't made to go away but it is, like everything else that's older, slowly dying off. Additionally, most counterfeit bills don't last as long as the real thing. Inferior materials just don't last.
 
I have used a couple different atm's on Cozumel the past 10 days (banks & grocery stores) and I have been getting 19 - 19.5 exchange rate. Most stores won't give you that good of a rate. Just let your bank know where you are traveling and the dates so they don't cut your card off.
 
As of last year this same time I booked with Dive Paradise. They prefer cash and you'll get a discount. However I used a visa and it was just fine. I don't think they'll take Amex though. If you're buying a lot of dives you'll also probably get a discount. When I used to travel with very large groups, the dive shop would often send down some type of cashiers check, but the owner knew Apple quite well and it was typically a very large amount of money. Just use your mc or visa.
 
sinistar:
As of last year this same time I booked with Dive Paradise. They prefer cash and you'll get a discount. However I used a visa and it was just fine. I don't think they'll take Amex though. If you're buying a lot of dives you'll also probably get a discount. When I used to travel with very large groups, the dive shop would often send down some type of cashiers check, but the owner knew Apple quite well and it was typically a very large amount of money. Just use your mc or visa.
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First off, I don't leave Mexico without a couple thousand pesos so I can pay for the basic stuff on my next trip. I have a Venture travel card which charges no foreign fees and I no longer need to notify them when I'm traveling to a foreign country but I don't use it. About a year ago someone charged a couple of things to my account near New York at almost exactly the same time that I used the card in Southern California. Needless to say this looked suspicious to Capital One so they notified me and cancelled my card. I don't know exactly when or where my CC information was stolen but this was one of the new "Chip" cards that is supposedly more secure. Hah! I use my debit card at the ATM at Chedraui or MEGA and get a few thousand pesos at a time. I see no need to get larger amounts because I'll be back in a few days for groceries. The fees charged at the ATM are not significant and seem to be a percentage based upon the amount of the withdrawal so it doesn't appear to save anything by withdrawing more at one time. When I book my hotel and dives etc I pay with the credit card so I can earn points (miles) but once in Mexico I only use pesos. My experience has been that it is cheaper to pay with pesos, regardless of the exchange rate. If you buy something, for example, and they tell you it's $20 US and you ask for the price in pesos it is often less (such as $19 US) after you do the math to see how much you paid for those pesos. I had one cab driver in Playa who said $25 US but the peso price was equal to about $19 US. Besides that some prices seem to be lower if you ask in Spanish ;)
 
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I feel like this thread has gotten somewhat off topic.

Dive Paradise will take visa or mastercard. If you were to pay cash (US$) you will get a discount. However, if you are booking quite a few dives you should also get some type of discount and I would advise to mention that up front like "Hey, I'll be booking quite a few dives what kind of discount will I get?". Keep in mind the park fee (like $2/person/day must be paid in cash).

Now somewhat off topic to the OP:

Bringing Peso's home with me, especially several thousand...I would think that would backfire lately with the exchange increasing each year in our favor. Now if your FOREX crystal ball says we're at the peak then hell yeah bring back $10K pesos and use them across several trips.

Regarding cash, just hit a credible ATM once you get there and pull like 3000 pesos at a time. With our exchange rate (even with a fee) that might be only US$160 or so. That will last you several beers, lunches, dinners and taxi rides. I prefer using the HSBC ATM at the mega - having traveled with large groups over many years that one has never swallowed up a card (yet!).

All this isn't so fun for the locals. Here we are with this exchange rate so great in our favor. We get there, get gobs of pesos for a dollar. Then we hit a little local taco joint and purposely pay in peso's because they haven't or can't afford to redo their menus. We then eat/drink for almost nothing. But their bills continue to go up (especially their fuel).

I usually go to the bank before I leave and bring a big wad of US $5 bills (say $200 worth). Not fun to carry. But I can tip the Dive Masters a minimum of $10 in the mornings and at least $5 in the afternoon (which I think US$ means a lot to them). It makes for a nice tip after dinner even if I paid in pesos. It makes for a great room cleaning tip. It can be a perfect short taxi ride+tip, etc.

The people in Cozumel are awesome and they work hard. Tip them well, they deserve it and a nice tip for us goes a long way for them.
 
sinistar:
Bringing Peso's home with me, especially several thousand...I would think that would backfire lately with the exchange increasing each year in our favor. Now if your FOREX crystal ball says we're at the peak then hell yeah bring back $10K pesos and use them across several trips.

All this isn't so fun for the locals. Here we are with this exchange rate so great in our favor. We get there, get gobs of pesos for a dollar. Then we hit a little local taco joint and purposely pay in peso's because they haven't or can't afford to redo their menus. We then eat/drink for almost nothing. But their bills continue to go up (especially their fuel).

I usually go to the bank before I leave and bring a big wad of US $5 bills (say $200 worth). Not fun to carry. But I can tip the Dive Masters a minimum of $10 in the mornings and at least $5 in the afternoon (which I think US$ means a lot to them). It makes for a nice tip after dinner even if I paid in pesos. It makes for a great room cleaning tip. It can be a perfect short taxi ride+tip, etc.

The people in Cozumel are awesome and they work hard. Tip them well, they deserve it and a nice tip for us goes a long way for them.
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I agree with everything you are saying. I leave Mexico with just enough pesos to take the ADO to Playa, the ferry to Cozumel, have a nice dinner, and then take a taxi to the hotel. For two people that comes to close to $2000 pesos without having to sweat it (plus a little cushion). I'm also talking about using the pesos within a few months.

I also take a pile of $5 bills with me for tips and I tend to tip generously. I don't live on Cozumel so I don't know for sure if they'd rather be tipped in pesos or US because they may have to pay conversion fees at the bank and get less for their money with US so, in my mind, I'm thinking it might be simpler for them if I tip in pesos. In any case I agree that the wonderful people of Cozumel deserve their tips and work hard for their money. I do not feel guilty if I give $100 MX instead of $5 US ;)
 
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