mexico

A.T.R.1

we are going to mexico in feb 06.is it better to use dollars and when is the best time to buy them.thank you

grumbler

A.T.R.1 wrote:

we are going to mexico in feb 06.is it better to use dollars

It is better to use Nationwide credit and debit cards (or cash card):

The cheapest way to spend overseas: save 6%

You still have enough time untill Feb.

and when is the best time to buy them

Nobody can tell you for sure. And if somebody does don't believe them ... These currency exchange games are for professionals, not for amateurs.

Becles

The official currency is Mexican Pesos. We'll be taking a small amount with us and using cash points with debit cards while we're there. For ease of conversion 1 peso = 5 pence.

Refuse to accept torn peso notes even if they have been taped back together. For some reason Mexicans think torn notes are useless and may refuse to accept them.

If you're going to the Yucatan area, have a look at this site:
www.mapchick.com
The maps are very informative and highly recommended. I have no connection with this site - just a very satisfied customer!

Party_Animal

just a very satisfied customer![/QUOTE]


And a satisfied customer at SOL too eh Becs!

Greenpen_2

It really depends where you are going. If you are going to a large all inclusive type area then you willl be able to spend dollars everywhere. But if you are visiting the rest of the country then dollars, euros or, in large cities only, sterling can be changed. Beware places that take foreign money as direct payment as you will be losing buckets on the exchange rates.

If you are flying into Mexico City then change your styerling at airport there - you usually get a better rate than doing so in UK. The last two times I have gone the airport rate has been about a peso better.

Watch conversion rates offered by hotels and shops as they can be very expensive as they usually offer way poorer rates than banks or bureau d' exchange. In a hotel recently (not in Mexico) I noticed the hotel rate for sterling changes or payment was 8 to the £ yet the banks gave 10.4 and the credit card 10.8.

Sterling has become much less easy to change away from more built up areas. Dollars or euros are okay though.

I have had problems in Mexico with cards of various sorts not working properley.

If in a large tourist area then credit and debit cards are probably the best way to buy, but cash is always best assuming you have good travel insurance.

Don't belive some of the travel guides which state it is cheaper to convert sterling to dollars and then convert again to pesos in Mexico. Whoever wrote that was very wrong.

If I am travelling away from European or North American civilisation I take cash; its never any difficulty to spend it.

Cardew

The US$ is king!

In the tourist areas everything is priced in US$ and Visa/Mastercard is widely accepted and I suggest the best method; particularly if you have Nationwide.

As said above, be very careful about exchange rates.

Ali_UK

I'm going back in February too! Can't wait.....

Go to a touristy place (i.e. Cancun, Playa del Carmen, Playacar) and they'll gladly relieve you of your dollars, but as mentioned before you'll get a different exchange rate (a few bars and restaurants will actually display their exchange rate out front). Calculations can become tricky, especially when they give you change in Peso! Obviously if you are in a more remote location then the more likely you are to need Pesos. For tipping the staff and locals Peso is definitely better as they can spend it more freely and readily and not incur any exchange charges.

We took a few hundred USD$, changed a bit up at reception on arrival, (kept back money for pre-booked trips we had made and our 43 USD$ each exit tax with our passports so we knew we def had it!) and then used cash points to withdraw (obviously check your charges, you may be better doing just one or two withdrawals if you know your spending limit).

ROLL ON FEBRUARY!!

ioscorpio

I've always changed money from £ to pesos with no problems. The reason why banks try to persuade you to transfer to $ and then to pesos is because a lot of banks don't trade in the peso as it is classed as a semi-exotic currency. When I've wanted to transfer larger amounts to Mexico, there are few banks or currency exchange companies that actually trade the peso.

NixNoo

ATR1 - Can I ask if you found using US$ ok when you went to Mexico or did you find pesos would have been preffered?

We're off in a couple of weeks.
Thanks
Nix

pavlovs_dog

out of curiosity, who far will 1000 peso go? is mexico expensive? (we're looking to change a little currency over for relatives as a wedding present)