Money Exchanging in Mexico
Money exchanging is a very important thing to know about whenever you are about to venture someone for a vacation or just plain travel. It can be very simple if you know what you are doing and hopefully
I can help ease your mind about any questions you may have
before you go to Mexico.
Hopefully you have been saving to have some extra cashola to spend
on your exciting trip! There are all kinds of unique items to buy in Mexico that you will defintly want to take back as souveniers.
There are many options you have when it comes to foreign money exchange
and we will look at all of these.
First, let's look at the different places that you can exchange currency. Which ones are the best places to go to?
1) Local bank
4) Via Credit Cards
But there are so many, so which one is the best option for you?
1) Local Bank - It is possible that you can exchange your money
for the local currency of where you are vacationing at a bank
in your hometown before you leave. Most banks are able to do this,
but you would definitly want to check several weeks before you leave
to make sure it is possible. Sometimes the bank will not have the exchange currency on hand, but is able to get it for you.
The benefit of using a local bank is that you know you are getting
a great exchange rate and you will have all your funds before you leave
2) Airport - At international airports all over the world, you can exchange your
money into just about any currency that you need. Airports will have
special booths set up just for currency exchange. When at the airport,
just look for signs that say "Money Exchange" and follow them to
the area where you are able to do this.
It is very convenient, but there are higher transaction charges. This isn't a big deal unless you are exchanging a large sum of money.
It is sometime worth it just for the conveience.
If you fly into the Cancun airport, there is a bank in Terminal Two. There are also several Bureaux de Change all over the airport, just
look for signs.
3) ATM's - You are able to use your ATM card at a location in another
country and receive money from the ATM machine in the local currency.
The exchange rate is usually reasonable, so don't worry about getting
ripped off. However, remember that your withdrawal may have a fee
attached to it from your local bank. NOTE: Please please please, call your bank before leaving your home to let them know you will be out of the country and that you may use your bank card!!
Don't get stuck in the Cancun airport without a working ATM card because your bank thinks it's fraud. This happened to me and my
husband and we had to call our bank from the airport to get it all
If you fly into the Cancun airport, there are ATM machines located
throughout the terminal buildings and usually signs are very
visible in order to find them.
4) Credit cards - This will be the easiest way to spend money
in Mexico because you don't have to worry about exchanging money.
However, if this is your primary way of spending money, I would definitly make sure you bring cash for tips...dollar bills are fine
for that. Credit cards have a decent exchange rate, however
they calculate the exchange rate at the time it goes through, not at the time of purchase. Usually there isn't a large difference.
5) Hotel - Exchanging money at your hotel is probably the worst option out of all the ones I listed above. Why you might ask? Well,
they are going to have a higher transaction rate and charge
because of the convienience for you. If your not worried about the charges, then by all means it may be the easiest for you.
But if you have no better choices, then by all means it is fine
to edo a mexican money exchange at your hotel.
No worries, this process is a breeze! Here is a current currency
converter guide and chart that shows the money exchange rates online.
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