Currency Exchange
The official currency of Mexico is the Mexican Peso, but the American Dollar is also accepted in some tourist destinations like Cancún and the Riviera Maya. Before your trip, it is important to check out the actual currency exchange rate to not have unpleasant surprises. Here you can find a table with the current value of the dollar in relation to the Mexican Pesos and other currencies.
CALCULATE MONEY EXCHANGE
Rates 23 Nov 2024
The best tips for money exchange in Cancun
One of the main concerns of travelers is to get the most favorable rate possible for their money. Some prefer to exchange money in their homeland and others prefer to do it directly in Cancun. Sometimes the best option will depend on the time of your stay or how comfortable you feel traveling with a great amount of money. The major currencies tend to move +/- 1% in a given day, which is not a great move. Here we give some tips that can help you on your next visit.
Exchange money at home
You can change money on your home bank for your next trip, and besides, give you good rates, you won’t’ stress looking for exchange houses at your arrival. Even though it is an excellent option it can be risk travel with a great amount of money in cash. It is recommended only to change enough to cover travel and transportation costs for at least three days at your destination and then look for the best money exchange rate in the city.
ATMs in Cancun Airport
If you don’t want to travel with a huge amount of cash and receive a reasonable exchange rate, this is the best option. You can easily find an ATM machine on the street or in supermarkets in Cancun, so this won’t be a problem. It is recommended to notify your bank before your travel since some banks are subject to a fee to use them or may freeze your card if you have transactions abroad.
Use your Credit Cards
Most of the stores, hotels, and restaurants in Cancun and the Mayan Riviera accept credit and debit cards as a method of payment. Visa, Master Card, and American Express are the most usual, but you must ask first to the store in case you have a different one. Besides receiving a better exchange you can also track all your transactions.
Change money at Hotels and Airports
The first option you will have to exchange money is the International Airport of Cancun but even when you can find a great exchange rate beware of high transaction charges. You can obtain better local currency outside the airport and your hotel so just exchange money there unless you have no other choice.
Exchange money in local banks
The rates given at local banks are a convenient option for changing money, but most of the time determined by supply and demand. The banks will change only a limited amount of money per day and month per persona. To do the transaction you must show your passport.
Banks operating in Cancun Airport
Banamex, HSBC, BBVA, Santander, Scotiabank, and Banorte are the most popular banks operating in Mexico, and it is very easy to locate them along with the city.
Exchange Houses
Even though they can be tough to find, you can ask the locals for the best exchange house and then go straight away. Exchange houses do not have fees but can have a limited amount to exchange.
Do not bring foreign coins to Mexico
Coins are not accepted as a method of payment or exchanged in the bank or exchange houses, so before tip take that into consideration.
