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Money Exchange


lilmizz
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Do NOT use the ATM on the ship to get money ! They charge VERY high fees!! You can get pesos in Mexico either from an ATM or from a Cambio(exchange bureau)

You can also just use your credit card or use USA currency.IF you use USA currency you will pay a little bit more for whatever you are buying but not by a lot. If Cozumel is the only place you'd use pesos it is probably not worth getting any just for that one port UNLESS you plan to spend a lot of money!!

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Use US dollars, credit card will get you fee for the exchange if you charge something.

 

Some credit and debit cards do not charge a foreign transaction fee. Check with the card issuer before you go. Also make sure you call and let the issuer know that you may use the card outside of the US (or they may block any transactions).

 

Do not exchange money on a ship unless it is some kind of emergency - you never get a good exchange rate.

Edited by Scrapnana
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In Cozumel, you will find the merchants actually prefer US Dollars to Pesos. Even in the Grocery stores, they are set up to accept US. You will have to look hard to find Pesos in Coz.

 

Very true! The US$ is their preference.

 

LuLu

~~~~

Edited by OCruisers
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Small word of caution though so you don't have a heart attack. If you eat in one of the restaurants there the bill will usually be in pesos (with a notation somewhere of how much it is in dollars too). First time I ate lunch at what I thought was a moderately priced restaurant (and it was) I almost choked when the bill said it was over $350 (about $29 US) :D

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Be sure to figure out what denominations and how much you think you will spend and take that so you don't have to deal with change, because you will probably get pesos back.

 

Our first time to Mexico we stayed for a week and used an ATM to get cash. It gave me the balance of my account in pesos. It was a huge amount. :D.

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US dollars work well, but expect change to be in Peso's unless you push for it.

 

You can also look at the current exchange rate before going - lots of sites do that, one sample http://finance.yahoo.com/currency-converter/#from=USD;to=MXN;amt=1

That way, you will have a good idea of the amount, if quoted in Pesos. We try and deal only in US Dollars, and most will.

Another suggestion I was given long ago if paying by credit card ( which we do), if the charges are written in Pesos only, which is common for Mexican Banks, write the amount it should be in USD$ next to your signature. Keeps down confusion and chance of overpaying - since conversion rates can be confusing. But also don't expect an exact match, since exchange rates fluctuate, but it should be real close.

 

 

Sent from my iPhone 5C using Forums mobile app.

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