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cash in Mexico


kynickie
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I am going to Yucatan and Cozumel.

Do I need cash for anything? Taxi? Beach chairs? Buying water bottles ? Anyone have suggestions on if I do and how much. Do they take American Express? Thanks Kynickie

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Everyone who caters to cruisers will be happy to take American dollars. Do not expect anyone to accept your Amex.

 

As for how much, that is up to you. Find out how much your excursions will cost, plus tip, plus any shopping, bars, etc.

 

Only you know how much is enough. If you run out, and you can find an ATM in port, you can always withdraw more.

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So you are saying I do need cash. You said they won't take amex what about master card or visa. I would rather use a card. But just wanted to know if I have to have some cash? Or if I can rely on credit card only thanks

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So you are saying I do need cash.

Yes. If you go to Margaritaville or Senor Frogs, a major brand hotel, or a place like that, you won't have any trouble using a credit card, but most beach bars will be easiest with cash.

 

You have a safe in your cabin on the ship, so you don't need to carry all your cash for the week with you. I would just take what you want to spend that day off the ship with you.

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Most all of the popular tourist restaurants in Cozumel will accept Visa and Mastercard. The local mom & pop shop isn't going to take credit cards, but everyone will accept US dollars.

 

Pro tip : take small bills ($1, $5, $10's). If you take large bills, you'll end up paying more, and the change they give you will not be in US dollars.

 

Negotiate the best price, pay exact amount or in small bills, and be sure your change is in US dollars

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I have never heard of getting change in USA $$s when paying for things in Mexico. I don't think that is typical at all!

Most folks try to use their credit cards for large purchases but use cash for small ones. We rarely use our credit cards in Mexico unless we buy something as a souvenir that is pricey!

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Taxis and all of the popular tourist spots will take US dollars -- many of the menu prices list dollars not pesos (both use the $ sign, so be aware). I prefer to use cash in Mexico and have never taken a taxi that accepted credit cards.

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US$ are accepted anywhere but you may get a terrible exchange rate. Many restaurants and bars post their exchange rate, and 12:1 or 14:1 is not uncommon. The current exchange rate at an ATM or per your credit card bank is around 18.5:1. If spending a small amount that’s not a big deal. If planning major shopping use a debit card at a bank ATM to get pesos.

As mentioned you can use a credit/debit card at beach clubs and most restaurants and bars but smaller places and vendors will require cash. Many do give US$ for change (or pesos if you prefer), you should ask first if a concern.

We use pesos and debit cards exclusively while living in Mexico, on a day visit US$ are much easier of course.

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For what it is worth: There are a couple of websites reporting that major banks in Mexico (including Citibanamex & BBVA) have been having recent issues with ATMs withdrawals and credit card payments. Rumor is that the Bank of Mexico’s SPEI interbank transfer system was hacked, but this is being denied. Either way it is something to keep in mind.

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Thanks to everyone for their advice. I am glad I asked because I did not know I needed to take cash. I see now that that is the best way. I will be taking singles fives and tens. I don't expect to spend much so won't be a big deal.just a few souveniers or bottle of water. thanks again Kynickie

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