If you are a first time visitor to Playa del Carmen you are probably wondering what currency is used in Mexico. You may also be wondering if it is better bringing cash or cards. Well, in this weeks post we are going to talk about money!
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We are going to answer the following questions you may have:
What currency is used in Mexico?
What currency is the best to bring to Mexico?
Where can I exchange currency in Playa del Carmen?
Are the ATMs in Playa del Carmen safe to use?
Do the restaurants in Playa del Carmen accept debit or credit cards?
What currency is used in Mexico?
The national currency in Mexico is the Mexican Peso (MXN). However the US Dollar is widely accepted across Mexico especially in the more touristic places like Playa del Carmen. In fact most tour companies, restaurants, and even some shops will have their prices in both pesos and dollars.
You do need to be careful of the exchange rate though if you are paying in dollars it should be somewhere between 17-20 pesos to the dollar (January 2019). There will almost always be a sign somewhere telling you this. If the rate is 16 or below it is better to pay in pesos.
What currency should you bring to Mexico?
The best currency to bring to Mexico is a mix of pesos and US dollars. Use the dollars to pay for tours, entrance fees, accommodation, and travel.
For everything else use pesos.
It should be relatively simple to get pesos in your own country before you travel. Although if you are going to want a large amount then you may need to order them, which normally takes 1-3 days. So be sure to give yourself enough time before your vacation.
We recommend bringing at least a couple of hundred dollars worth of Mexican pesos with
you so you can get a good exchange rate and
it is also helpful to have some currency to pay for
your taxi from the airport and for any tips. Read here: “How to get from Cancun airport to Playa del Carmen”
Where can I exchange currency in Playa del Carmen?
If you find yourself in need of exchanging currency then there are plenty of places in Playa del Carmen where you can do this. You can exchange money in one of the banks, or at a money exchange shop. The rates will vary, as will the commission so do take your time to shop around a little for this.
As with many things in Playa del Carmen you often won’t get the best rate on 5th Avenue. Just by walking a few blocks up to 30th Avenue close to CTM you will find much better rates.
Are the ATMs in Playa del Carmen safe to use?
Many people ask is the ATMs in Playa del Carmen are safe to use, and the answer is yes, and no!
There have been many problems with the stand alone ATMs on the 5th Avenue.
Our recommendation is to avoid using these ATMs at all cost. You will not get a good rate, card cloning is common, and the charges are high for using them. Plus they are very open so it is easy for people to see you withdrawing your cash.
If you want to use an ATM then stick to using a ATM attached to a bank. For the lowest fee we recommend Santander who will charge you just over $40 pesos. They will also tell you the exchange rate so you know exactly what you are getting. Quite often this exchange rate is better than what you would get exchanging cash. Another reliable bank to use is HSBC, although they recently doubled their ATM fee on some of their cash machines to around $80 pesos.
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Do the restaurants in Playa del Carmen accept debit or credit cards?
This is another yes and no answer! If you are eating in a restaurant that caters for tourists then yes. However if you are in a more local place then probably not.
You can normally tell if you are in a restaurant that caters for tourists as the waiter will speak in English to you and you will be offered a menu in English. Almost all of the restaurants around the 5th Avenue will accept cards. If you are in a place with plastic chairs and tables, where the menu is in Spanish and the server doesn't speak English they probably aren’t going to accept cards.
If you aren’t sure just ask before you order.
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Tarjeta - is the Spanish word for card.
Efectivo - is the Spanish word for cash.
If you want to ask if they accept card you can simply say: “Aceptan tarjeta?” or “Aceptan tarjeta o solo efectivo?”
Or if all else fails just show them your credit card, I’m sure they will understand!
We really hope this helps to answer all of your Mexican currency questions! If we have missed anything, or you still have questions, leave us a comment below and we will get an answer back to you soon.
FAQs
The best currency to bring to Mexico is a mix of pesos and US dollars. Use the dollars to pay for tours, entrance fees, accommodation, and travel. For everything else use pesos. It should be relatively simple to get pesos in your own country before you travel.
Should I pay with cash or card in Mexico? ›
The best way to spend in Mexico is a combination of both cash and your debit card. Larger businesses and those in major cities are likely to accept debit cards, but not all will. Some smaller stores and businesses may only accept cash. For example, market stalls, street food stands and taxis.
What currency should I bring to Mexico? ›
The best currency to take to Mexico is the local currency, the Mexican peso. US dollars are also highly exchangeable at local banks and currency exchange offices. However, instead of converting physical banknotes, the cheapest way to pay in Mexico is to use a multi-currency travel debit card like Revolut or Wise.
What currency is used in Mexico? ›
The Mexican peso (MXN) is the official currency of Mexico. It is subdivided into 100 centavos. The currency was initially based on Spain's official currency, called 'real', which was the Spanish dollar. The Mexican peso's name originated from the silver 8-real coins issued by Spain in Mexico.
Should I use pesos or usd in Mexico? ›
The recommendation is to use pesos in Mexico. Though some businesses may accept U.S. dollars, converting your currency to pesos is better. It ensures better exchange rates and wider acceptance. Many travelers get pesos from their home bank before their trip.
Can I use my cell phone in Mexico? ›
When traveling in Mexico, your phone will work same as it does within the United States. You will not need to pay any additional roaming charges or fees so long as you're on an AT&T unlimited plan. Keep in mind, roaming may be at 2G speeds.
Is it better to use pesos or credit card? ›
Using a credit card with no foreign transaction fees and choosing to make purchases in local currency will nearly always save you money. Currency conversion apps can help you better understand pricing and identify hidden charges.
How many pesos should I bring to Mexico for a week? ›
If you are extremely budget conscious, you might be able to get by on 2,500 to 3,000 pesos (not including lodging expenses). On the other hand, one could easily spend 15,000 or more. It depends on where you eat, what you drink and the activities you enjoy.
Is $100 American dollars a lot in Mexico? ›
$100 USD in Mexico can go a long way, covering various activities, food, drinks, and accommodations. $100 can buy you a week of experiences in Mexico, from dining out to guided tours and beach hotels. From huaraches to doctor's visits, tacos, and car rentals, $100 can provide a diverse Mexican experience.
Is $100 worth a lot in Mexico? ›
With today's exchange rates, $100 USD is about $1,900 – $2,000 MXN. Compared to wages, $1,900 MXN is about weeks' worth of salary for most manual labor jobs outside the major cities of Mexico. So for locals that have basic day labor jobs, it is a decent amount of money.
Should I exchange money before I travel to Mexico? ›
Some research prior to your trip could save you money. The fairest exchange rates might come from your home bank, and many banks will give you the best Mexican peso exchange rate if given enough notice. In that case, convert to pesos ahead of arriving in Mexico.
Is tipping expected in Mexico? ›
Tipping at restaurants in Mexico is always expected. However, how much you tip varies on the level of service and location within the country. Because beach destinations tend to see more foreign tourists from the United States and Canada, it is customary to tip between 15 and 20 percent.
Can I use my debit card in Mexico? ›
Credit cards, debit cards, prepaid travel cards and cash are all accepted in Mexico. Outside of a few purchases like transportation fare or local shops, a credit card will be your best bet for everyday purchases.
Should I bring pesos or USD to Cancun? ›
Do You Need MEXICAN PESOS? The short answer is ABSOLUTELY YES, you need Mexican Pesos. You will need pesos for tips, souvenirs shopping, transportation like taxi/buses, tours, bar/restaurants, etc.
How many pesos is a good tip in Mexico? ›
How much should I tip in Mexico?
| Taxi drivers | 10 pesos is the standard for taxi drivers |
|---|
| Hotel staff | Housekeeper: 25-50 pesos per day Bellhop: 25-50 pesos Concierge: 50-150 pesos |
| Restaurant waiters | 10-20% of the bill if the service fee is not included |
| Bartenders | 20 pesos per drink, or 10-15% of the bill |
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Preparing your travel money options beforehand is the key to a stress-free vacation. Credit cards, debit cards, prepaid travel cards and cash are all accepted in Mexico. Outside of a few purchases like transportation fare or local shops, a credit card will be your best bet for everyday purchases.
Should I bring US cash to Mexico? ›
The best currency to bring to Mexico is a mix of pesos and US dollars. Use the dollars to pay for tours, entrance fees, accommodation, and travel. For everything else use pesos. It should be relatively simple to get pesos in your own country before you travel.
Is it better to exchange money or use ATM in Mexico? ›
I've always found that taking cash from ATMs in Mexico offers the best exchange rate– you get the best rate for the day through your home bank. Just remember to hit “decline conversion rate” on the ATM when you take cash out in Mexico.
Is it better to use a credit card in Mexico? ›
Should I use a debit card or credit card in Mexico? As long as the card has no foreign transaction fees, you can use both credit and debit cards in Mexico. However, a credit card could offer you more rewards and benefits for spending during your trip.
