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Where is the best place to exchange $ in Cabo?

Plymouth, Minnesota
8 posts
1 review
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Where is the best place to exchange $ in Cabo?

We will be going to Cabo in a week and want to know the best place to exchange money. Are there places to exchange near the Marina, mall or downtown streets? Or is it best to do that at the airport?

Washington State
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for Yosemite National Park
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60,851 posts
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1. Re: Where is the best place to exchange $ in Cabo?

It is the worst exchange rate at the airport.

Are you bringing US dollars? Will you be using a debit card to withdraw pesos from an ATM? Where are you staying?

Plymouth, Minnesota
8 posts
1 review
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2. Re: Where is the best place to exchange $ in Cabo?

We are staying at Cabo Villas. Yes we could withdraw money from an ATM. Is that the best option?

Washington State
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for Yosemite National Park
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3. Re: Where is the best place to exchange $ in Cabo?

My best option is to withdraw pesos directly from a Santander bank or Scotiabank ATM. Some folks have a debit card with such high fees that they are happier exchanging USD for pesos at a cambio. Some folks get pesos from their home bank before leaving. Some folks just spend USD and don't worry about getting less value for their money.

There is not one best choice for all visitors.

Vancouver, Canada
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53 reviews
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4. Re: Where is the best place to exchange $ in Cabo?

As a proud Canadian,I totally endorse Scotia Bank.I had a good rate for US dollars better then the airport or cambios

Zihuatanejo, Mexico
Destination Expert
for Ixtapa, Zihuatanejo, Cabo San Lucas
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11,062 posts
6 reviews
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5. Re: Where is the best place to exchange $ in Cabo?

If you have dollars that you want exchanged into pesos...walk to the cruise ship docking area...and look for the Subway sandwich place (not a subway!!) About 3 empty storefront down is a cambio...called Sterling something or other...they have by far the best exchange rate...Did a comparison on Monday. The cambio by the Wyndham was 12.40, and Sterling was 12.90. Bank rate that day was 12.99 on Onada...so that is a really excellent rate.

If you have a fee ATM card...this would be your real good option to not lose as much as you do with some of the fees banks are now charging. Or you can get an account at Schwab and get an ATM card with no fees...and it is detached from all other accounts you have with Schwab.

Be careful of any bank ATM card that you have...many are attached to your bank account, a ready reserve, CD's, money market funds...and you could get wiped out before you even get home to know about it!!

Denver, Colorado
Destination Expert
for Cabo San Lucas
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8,154 posts
38 reviews
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6. Re: Where is the best place to exchange $ in Cabo?

Honestly, I think the safest and most convenient place to exchange your $$ is at the front desk of your resort. The exchange rate won't be as much as you might possibly get going elsewhere in town, but it's usually only a few pennies on the dollar in price difference. For me, the safety and convenience of being able to exchange my $$ on an as-needed basis at my home resort is worth the few pennies I might otherwise have saved elsewhere. I'm not into hassles and worrying about card skimmers, ATM machine malfunctions, ATM and/or bank fees, or my safety while on vacation.

Edited: 17 January 2014, 15:13
Duluth, Minnesota
Destination Expert
for Cabo San Lucas
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5,141 posts
13 reviews
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7. Re: Where is the best place to exchange $ in Cabo?

I would suggest skipping the middleman and exchange whatever currency you have for drinks at one of the convienently located bars:)

El Pescadero, Mexico
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296 posts
18 reviews
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8. Re: Where is the best place to exchange $ in Cabo?

We just got back and almost every "retail" establishment was giving 12 to 1 rate. Very few places in CSL do you need to have pesos. You may get pesos as change from a restaurant (or ask for pesos if that's what you want). We don't worry too much about trying to get the best deal on things as we only spend about $500/week in cash. That's $20 difference between getting 12 to 1 vs 12.5 to 1.

Oregon
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2,590 posts
17 reviews
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9. Re: Where is the best place to exchange $ in Cabo?

jungers21, I'm with TravelJudy, and dmwalker on this.

We travel twice a year to Cabo, and the only time that I use an ATM is when I am in a pinch. (Once, in ten trips). I carry US cash, and ether exchange it at one of the Cambios, or at the front desk of our resort.

As others have said, carry both $US and Pesos, and keep in mind what the current exchange rate is. If the merchant offers you a bill in both currencies (and that is often the norm), pay in the one that gives you best effect. Hey....a few dollars here, a few there....I quite often give the savings to the servers. They work far harder than I do.

10. Re: Where is the best place to exchange $ in Cabo?

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