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paying for purchases in Izamal

Montreal
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paying for purchases in Izamal

I will spend one month in Izamal this winter. I was told by the owner of the hotel where I will stay that there is no bank. Can anyone confirm that there is a Banorte bank in Izamal. I am wondering if I should bring US dollars or lots of pesos. Do not like to travel with lots of cash on me. Thanks for any pointers.

Happy from Montreal

Edmonton, Canada
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1. Re: paying for purchases in Izamal

I wouldn't try to second-guess a local. But even if there's no bank, there may be an ATM. I've been in some pretty tiny Mexican towns that still managed to have an ATM. Besides, you'll be making the odd trip out of town, right? You can fill up with cash in Merida, for example.

Izamal is off the mass-tourism trail, so it's pesos all the way. Forget US$.

San Jose, California
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2. Re: paying for purchases in Izamal

Yeah, definitely pesos. I think that USD are really only accepted on the more touristy areas in the Mayan Riviera and maybe a bit in places like Progresso where the cruise ships come in. In Merida, we did see a couple places advertising that they accept USD as well. Regardless of acceptance of USD, you are from Canada so it doesn't make any sense to convert your Canadian dollars to USD (and lose value on the exchange) and then try to use USD in Mexico (losing value a second time).

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3. Re: paying for purchases in Izamal

Mexicans will take U. S. dollars anywhere and any time in Mexico. You are likely to loose out big time on the exchange rate but dollars are an inflation hedge for the peso for Mexicans. However when i travel in Mexico I try and use pesos for direct purchases. The ATM would be your safest option and maybe the cheapest concidering money exhange houses and banks always get the favorable side of the exchange rate.

4. Re: paying for purchases in Izamal

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Removed on: 13 August 2013, 20:32
Edited: 13 August 2013, 20:32
Cozumel, Mexico
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for Cozumel, Merida
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5. Re: paying for purchases in Izamal

Yes , you will really be in Mexico where the peso rules. Take pesos to pay your expenses. No Banorte or any other bank in Izamal, as the owner advised. I also checked the major banks websites and no one shows an ATM there.

Edited: 13 August 2013, 20:32
New York City, New...
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for Yucatan Peninsula
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6. Re: paying for purchases in Izamal

Is there an OXXO in Izamal? Most OXXO stores have those Allpoint machines, which are fine to use.

suitcaseready.com

Edited: 13 August 2013, 20:42
Cozumel, Mexico
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for Cozumel, Merida
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7. Re: paying for purchases in Izamal

Isn´t there an OXXO store everywhere? I have never used an Allpoint ATM . But in many OXXO stores in Merida, they have bank ATM´s. Good suggestion.

Traverse City...
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8. Re: paying for purchases in Izamal

I'll make a couple of suggestions....First, why not try posting this over on the Izamal forum instead of here on the Merida one? As with here and almost all of the T-A forums, they have a few "experts" who would probably be glad to help.

A quick internet search shows that yes, there is an Oxxo...and a glance at the #1 rated hotel has people saying that there are a couple of nearby atm's. You could contact them - or one of the hotels for that matter - and verify. You could even ask about a bank while you're at it.

La Crosse, Wisconsin
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9. Re: paying for purchases in Izamal

There are several ATM's in Izamel. Last January there was an ATM in the Super Willy's grocery store off of the main square. I think I saw another ATM in the center of the city. I cannot speak to the fees charged by the ATM at Super Willys, but I remember that one of the people in our group was able to get pesos near the square.

Cozumel, Mexico
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10. Re: paying for purchases in Izamal

Now that you mention it, I have seen ATM´s in several Super Willy´s in the Yucatan. The ones I have seen were HSBC ATM´s but not sure that is always the case.