Kharon
Contributor
Should I bring some of each or is one better than the others - or does it matter. I need advice.
Dollars, Pesos, or credit card onn Isla Mujeres?
- Thread starter Kharon
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svs
Contributor
You can use all but you will save about 50% at many establishments if you pay in pesos
Not sure about 50%. Most places charge a 5% surcharge for credit card use. You will see a bit of a better rate if you use pesos, though. Like elsewhere in the world, its always more respectful to pay in local currency.
Just left Isla on Wednesday. Writing from streetside in Tulum. Lost two out of four diving days due to the weather. Come to Tulum. The cenotes don't care if its windy.
Just left Isla on Wednesday. Writing from streetside in Tulum. Lost two out of four diving days due to the weather. Come to Tulum. The cenotes don't care if its windy.
Rickk
Contributor
My international travel experience has been that you should exchange some dollars for local currency at the airport, this will always give you some small bills but you usually get a bad exchange rate.
They you can just withdraw local currency from an ATM just like at home, don't forget the exchange rates or you may only take out a couple bucks worth of cash.
I was once in a country where the ATMs had USD and local currency. The exchange rate was about 50 to 1. One friend had the bad habit of forgetting to changed form the default local to USD and he would end up taking out 500 in local or $US10 and have to pay the $5 transaction fee every time.
As a general rule USD is only accepted at tourist places or in Canada very near the border. Away from these places you will either be refused a USD cash transaction or get a really bad exchange rate.
They you can just withdraw local currency from an ATM just like at home, don't forget the exchange rates or you may only take out a couple bucks worth of cash.
I was once in a country where the ATMs had USD and local currency. The exchange rate was about 50 to 1. One friend had the bad habit of forgetting to changed form the default local to USD and he would end up taking out 500 in local or $US10 and have to pay the $5 transaction fee every time.
As a general rule USD is only accepted at tourist places or in Canada very near the border. Away from these places you will either be refused a USD cash transaction or get a really bad exchange rate.
horn34
Contributor
Rickk
Contributor
horn34
Contributor
svs
Contributor
When you pay for a dive or hotel difference may be modest, within 10%, but you will get credit card surcharge even if your credit card do not have foreign transaction fees. When you pay at restaurant of souvenir shop difference can be much more dramatic
Do some research before you go. Some banks in US will sell you pesos at a “ reasonable” exchange rate, including fees. Fees are usually per transaction so don’t get just $20 at a time. Some credit cards have no fees for peso charges, but you need to insist that the hotel/restaurant charge your card in pesos. Some US credit/debit cards have good exchange rates and no fees at some ATMs, but you have to be careful in determining which ATMs have this arrangement with your card, and be careful of your physical security when using ATMs. You can save a few bucks doing this research, but may decide it’s not worth the effort. Have fun diving!
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