Spending money in Mexico

smiddle3

Hi Guys

I am going to Mexico next week and was just wondering if you could help me regarding the most economic way to go about spending money whilst out there.

I have a Nationwide Flex Account and, having read the article on the main website, understand that just taking this card and using it for all purchases, withdrawls etc will come with no hidden charges. However, in the event I lose this card, what would you advise I take as cover? I was thinking of taking $100 dollars in currency and $200 dollars worth of travellers cheques as an emergency fund. If i were to purchase dollar travellers cheques and exchange them over in Mexico would I be charged for this or would I receive the full $200 dollars?

also, might sound naive but because i've never taken a bank card away on holiday before, I was wondering that, if I were to withdraw cash from a cash machine, would this come out as pounds or in actual currency of the country I am visiting i.e. pesos or dollars?

Cheers

Voyager2002

Cash machines there will give you local currency.

For your emergency fund, you might just as well bring sterling. You will pay to change pounds into dollars; pay for travellers' cheques (not needed if your insurance covers cash); pay again to convert dollars into pesos; and pay through the nose to turn any unused dollars back into pounds sterling.

windswept

We took US dollars but found that we got a better rate out there by changing sterling for dollars in our hotel. I didn't see many cash machines out there actually.
I'm unsure whether you can use travellers cheques like cash, as you can in America.