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Mexico Travel Guide

Cost, Money & Banks in Mexico

Mexico's currency is the Mexican Peso indicated by this symbol ($), there are one hundred Mexican cents (centavos) to every Peso, the paper currency comes in denominations of 20, 50, 100, 200, and 500 pesos; whereas, coins are minted in denominations of 1, 2, 5, 10, and 20 pesos, and 20 and 50 centavos.

Getting change can be a problem, for this reason is high recommended changing USD $20 - USD $30 into pesos before you departure, also you can carry USD $20 or so in one dollar bills is convenient. In most tourist resorts in Mexico dollars are accepted; although, the use of Mexican Peso is more recommend during your stay.

Exchanging Money in Mexico

You can find easily several places where to exchange your foreign notes and checks into Mexican pesos, usually exchange houses and banks do not charge commissions to exchange currency, The rate of exchange fluctuates every day, so you maybe are better off not exchanging too much currency at once.

Rates are frequently favorable in Exchange Houses (Casa de Cambio), occasionally better than those offered at banks, as diverse exchange houses and banks' rates will fluctuate depending on the institutions' need for different foreign currencies.

Exchange houses are the best option to exchange currency, there are no exchange fees, but some of them open shorter hours than the banks; the worst exchange rates are often at hotels.

Banks in Mexico

Banks in Mexico are rapidly improving and expanding services, they offer a network of ATM machines that can be used to withdraw local currency; usually, the Banks in Mexico tend to be open weekdays from 9am until 5pm, and frequently for at least a half day on Saturday.

In nearly all resorts in Mexico, the use of ATMs is completely secure, just take the same safety measures that you would at any ATM. Universal bank cards (Visa, MasterCard, etc), this is a suitable way to withdraw money and avoid having too much with you all time.

Credit Cards

The mayor credit cards and debit cards are a safe way to carry money and they are accepted in several hotels, shops, restaurants and travel service providers in Mexico; credit cards also give a suitable record of all your expenses and usually they offer reasonably good exchange rates.

Credit cards like Visa, American Express and MasterCard are extensively accepted at most major tourist resorts, as well as almost all airline tickets, on your credit card; but not so much in minor towns or towns off the beaten path. You usually can not charge gasoline purchases in Mexico.

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