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exchange of currency at EPM vs BANK vs airport kiosk?

Federal Way...
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exchange of currency at EPM vs BANK vs airport kiosk?

I've read that if you exchange your currency into pesos at the resort, its possible you won't get "top" exchange rate.

If thats the case, does anyone know how most airports currency exchange fairs?

I'm looking for a decent exchange rate, I'm not going to bother going out of my way to save a few pennies.

Our plan is to use the pesos over on Isla Mujeres next week. I've read its a bit easier when using pesos over on I.M. (?)

thanks

Dave

Boston...
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1. Re: exchange of currency at EPM vs BANK vs airport kiosk?

You can use USD on Isla but the majority of places will give you a 10 to 1 rate but the current exchange rate is usually about 13 to 1 so you will be losing out if you use USD. I usually use the ATM at the bank on Isla that is right across the street from the ferry terminal to get pesos. They have a pretty good rate usually

Cozumel, Mexico
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for Cozumel, Merida
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2. Re: exchange of currency at EPM vs BANK vs airport kiosk?

I have found most hotels give the worst exchange rates, with the money exchanges a close second. I only use bank ATMs which will give you very close to the banks official rate for that day. One thing interesting to me, which was told to me by a bank manager. He said the rate is usually a bit better in the afternoon--and I have found that to be the case.

Federal Way...
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3. Re: exchange of currency at EPM vs BANK vs airport kiosk?

thanks Rob and Kelly

Are you referring to bank ATMs here in the states or down in Mexico?

I've never exchanged USD to pesos and wasn't aware that ATMs can make the exchange for you.

When I inquired about exchanging at Bank of America I was told they needed a week to get the pesos in.

Dave

Boardman, Ohio
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4. Re: exchange of currency at EPM vs BANK vs airport kiosk?

The exchange booth at Puerto Juarez, where you catch the Isla Ferry, was giving 12.2 to 1 last week. I always use the booths around the towns...

Cozumel, Mexico
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5. Re: exchange of currency at EPM vs BANK vs airport kiosk?

¨I've never exchanged USD to pesos and wasn't aware that ATMs can make the exchange for you.¨

Sorry, I didn´t make myself clear. I use ATMs to withdraw currency in pesos from my US bank account. I really never have actual currency to exchange.

Raleigh, NC
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6. Re: exchange of currency at EPM vs BANK vs airport kiosk?

One other option for those in the US and belong to AAA. I exchanged dollars to pesos at my local AAA office. It took 2 business days and there was no fee. The exchange rate was ~12.5 pesos to $1 which seemed pretty good to me. (though this is my first experience with getting pesos and have not visited Mexico before) BTW there was a minimum of $200 USD to exchange this way.

I believe that your bank will at a minimum charge you a foreign ATM fee to withdraw pesos in Mexico.

Just another data point for those interested.

Calgary
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for Akumal, Riviera Maya, Cancun
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7. Re: exchange of currency at EPM vs BANK vs airport kiosk?

The exchange kiosks at airports the world over are typically THE worst places to exchange your money. (Not to be confused with *ATMs* at the airport.)

Isle of Man, United...
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8. Re: exchange of currency at EPM vs BANK vs airport kiosk?

We have changed sterling into pesos at the hotel reception and to be honest have received a more favourable rate than we could have got at home.

Kansas City...
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9. Re: exchange of currency at EPM vs BANK vs airport kiosk?

We did the same as Kelly in #1 post. After research, I found the bank across the street from the ferry to be secure and a good exchange rate. We knew we would be spending enough money that warranted the exchange from dollars to pesos. The transaction was simple and quick through the ATM.

10. Re: exchange of currency at EPM vs BANK vs airport kiosk?

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