Travelling to Mexico - Currency

hugonellie

I'm off to a Riu at Playa Del Carmen on Tuesday for a couple of weeks all inclusive - I realise that Pesos are the local currency but I am not sure what the cheapest is for me personally to buy / use

I have a travelex passport globe card, a tesco 0% credit card and a Natwest Advantage Gold card to choose from or obviously cash.

Do I get currency here, there, pay on my card - everything I read seems to offer different solutions - what's best / cheapest?

I've read that theres a starbucks outside of my hotel with free wifi so topping up my travelex card won't be an issue if I need too.

Anyone been recently that can advise?

pmramsay

I think it depends on what you are wanting to do out there, personally I wouldnt take a cash card as the atms sometimes charge or give you poor rates.

Each time I go I take a combination of dollars and pesos.

I use the pesos for tipping and general purchases whilst I am out and about and then use the dollars for any trips I am paying for. Also you will find some places (especially a lot of the tours) will quote there prices in dollars and having dollars to hand will sometimes give you a better rate. The airport is a good example of this!

When i was there last year I think I spent mainly pesos though. Have a great time, mexico is amazing!

benjus

pmramsay wrote: »

I wouldnt take a cash card as the atms sometimes charge or give you poor rates.

The best rate on Travel Money Maximiser for Pesos is about 8% off the mid-market rate. Do you really think the ATMs charge more than this? Even the worst debit card will be better than that, unless there's something weird about Mexican ATMs I don't know about.

You can get a much better rate for Dollars here, but if you ultimately want to change them to Pesos you'll pay two sets of fees.

pmramsay

if you end up on a big resort away from a town you can be limited with your selection of atms where the rates arent good or you are limited with either peso or dollar depending on the machine. Or you can be left with the machines empty. Reading through trip adviser on previous holiday buildups there is also the risks around card cloning but that can happen anywhere.

As they are staying at the riu the OP is close to playa del carmen so will have access to more machines.

However, cash is my preference in mexico but if people prefer card then go for it! After 4 times of going I wouldnt change my mind, I have been left in the lurch with a cashcard before, not in mexico granted (new york and greece) and feel that having cash in mexico is much easier for me than relying on a card.

NiftyDigits

hugonellie wrote: »

I'm off to a Riu at Playa Del Carmen on Tuesday for a couple of weeks all inclusive - I realise that Pesos are the local currency but I am not sure what the cheapest is for me personally to buy / use

I have a travelex passport globe card, a tesco 0% credit card and a Natwest Advantage Gold card to choose from or obviously cash.

Do I get currency here, there, pay on my card - everything I read seems to offer different solutions - what's best / cheapest?

I've read that theres a starbucks outside of my hotel with free wifi so topping up my travelex card won't be an issue if I need too.

Anyone been recently that can advise?

Throw the NatWest card in the bin. If the Globe card is the one with a 1.49% charge(obtained before 19th of November 2012), that not a bad option.

Having a credit card is a good idea. Halifax Clarity is a good option here.

If you can't get a another credit card, then think about a Kalixa Pay Prepaid Mastercard.

Use the Kalixa Pay for your purchases(as you'll get the full Mastercard rate) and for larger withdrawals abroad(the equivalent £150 and over) and the Globe for smaller withdrawals(under the equivalent of £150)

hugonellie

Thanks for all the replies!!!

I think I'll just get a fairly decent wedge of Pesos from Travelex at the airport (it looks a half decent rate at 20.49 pesos to £1 - and then take my halifax clarity card for bigger spends

I do have the older globe card, so I'll take that and transfer any further money I need and widthdraw it if needs be

Thanks again everyone - its my first time in mexico so I am really looking forward to it!

:beer::money::j

benjus

hugonellie wrote: »

Thanks for all the replies!!!

I think I'll just get a fairly decent wedge of Pesos from Travelex at the airport (it looks a half decent rate at 20.49 pesos to £1 - and then take my halifax clarity card for bigger spends

I do have the older globe card, so I'll take that and transfer any further money I need and widthdraw it if needs be

Thanks again everyone - its my first time in mexico so I am really looking forward to it!

:beer::money::j

Why didn't you mention the Halifax Clarity card in the OP? Just use that for everything (including cash withdrawals). It trumps all the other cards.

Take the globe as a backup in case anything happens to the Clarity, but don't plan on using it.

20.49 MXN for 1 GBP isn't a great rate, although it may well be the best you'll find in this country - personally I'd wait until arrival and withdraw some at the arrival airport. Or take USD if you insist on taking some cash with you.