Currency for Mexico this March.

Jamz

I'm travelling to Cancun in march to get married, now I know they accept Peso's and US Dollars but which would give me a better return on 1500, having not been there before i dont know if you get better deals if you pay in USD or MXN?

Help

pin

1. Nationwide Debit Card for ATM withdrawals from destination country (no foreign loading) / the Audi credit card or the Post Office credit card for purchases in destination country (but watch out for Dynamic Currency Conversion) (no foreign loading for purchases, BUT watch charges for cash withdrawals).

2. Nationwide Credit Card (please note Nationwide's policy re chip and pin in foreign countries: see this thread from FlyerTalk) (no foreign loading for purchases, BUT watch charges for cash withdrawals).
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3. SAGA credit card (if you are over 50) for purchases in destination country (no foreign loading for European purchases, 1% for rest of the world, no cash withdrawal interest if balance repaid in full BUT 1.5%/£1.50 cash withdrawal fee).

4. Any other debit card for ATM withdrawals from destination country / any other credit card for purchases in destination country (but for both CHECK T&C's to see exact charges).

5. Thomas Exchange Global ("TEG") in central London - pay and pick up at store.

6. Travelex online (remember Travelex will price match any other exchange service, i.e. the one above) -pay online, pick up at airport.

For price matching: order through Travelex online as you would do normally, then call up TEG (02072401214 or 02078281880) and get a quote re their exchange rate. Email Travelex: [EMAIL="customerservices@travelex.com"]customerservices@travelex.com[/EMAIL] (must be done on the same day) stating the following: your Travelex reference number, your currency quote from TEG (and the fact you got it from TEG) and your address (Travelex will send you a cheque refunding the difference). Also Travelex normally acknowledge receipt of your email. Full terms and conditions of the Travelex Price Promise are on the Travelex website.

7. Marks and Spencer - pay online or pay and pick up instore.

8. Online FX (using this link ensures free deliver) - pay online, delivery to home.

9. HSBC (they seem to use Amex as their travel money provider and offer free delivery for orders over £350) - pay online, deliver to home or pick up from branch (and avoid any delivery charge).

10. Thomson Travel (they seem to use Amex as their travel money provider) - pay online, delivery to home.

11. Co-op Travel (they use Currency Express / Exchange and offer free delivery for orders over £300) - pay online, delivery to home.

12. Post Office (while probably not the best rate, there are many of them around, so may be convenient) - pay online, pick up at PO or pay and pick up at PO.

13. Haggle with High Street travel agent (which may ensure better rates than 5 to 9 above) - pay and pick up instore.

With 1 - 4 make sure you tell your card provider you are going abroad, where you are going and for how long, so they can put a note on your account.

With 5 - 13, if you are paying with debit / credit card check your T&C's as many providers charge for the privilege of using money exchange services.

Here are links to ATM locators: VISA and MasterCard

Here are various information links to VISA: Foreign Exchange Rate FAQ and Visa Exchange Rates

Also please read Martin's article: Spending Overseas and Loading Technicals

Also look at the these forum threads: The Cheapest Way to Spend Overseas Discussion Area and How to buy TCs and foreign currency
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Jamz

Thanks for the info there thats really helpful, but which currency would be best value for me to take?

geo555

Take dollars.
You will get a better exchange rate out there for pesos than what you do here.
A lot of the shops have goods priced in pesos. They will take dollars, but you wont get as good a rate.

davek1

No take peso's they go further. I've been to mexico a few times and with dollars they just take a 0 off the peso price, which means you pay over the odds becuase of the exchange rate, the other alternative is take a mixture peso's for day to day use and dollars for more expensive purchases.

Most Mexican ATM's give the option of drawing dollars or peso's great idea. Both equally accepted everywhere

melancholly

if you do want to buy pesos here (they go a lot further than dollars) then marks and spencer had the best rate a few months when i got them.

either way, with the dollar exchange rate and the cost of living over there, you'll be getting lots for your money!

have a lovely wedding!

Becles

Pesos - as well as them being better value for purchasing, the locals appreciate you paying in their local currency rather than US$.