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Currency ?

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London,Ontario
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239 posts
7 reviews
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Currency ?

Going to the Catalonia Yucatan Jan 3. Coming from Canada. What should we take. US, Canadian or Peso? Change before we go or at the resort?

Calgary
Destination Expert
for Akumal, Riviera Maya, Cancun
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22,442 posts
8 reviews
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1. Re: Currency ?

US dollars are widely accepted in the tourist areas but your money will go further if you use pesos. If you have some greenbacks you want to use up, feel free to bring them but if you're doing a currency exchange anyway, you're better off to just go straight to pesos.

I don't like arriving in any foreign country without a little bit of the local currency on me. I buy my pesos/Euros/yen whatever from a foreign exchange place at a local mall - they give better rates than my bank. I just get enough to last me a few days. After that, I simply withdraw more cash (in Mexico, that'd be pesos) from my Canadian bank account as and when I need it via ATM.

'Cos I'm a nervous nelly type, I have a completely separate holiday bank account which just has my vacation cash plus a small "cushion" in it. That way, if my account were to be compromised, there's a limited amount of damage that can be done - i.e. this account doesn't have ALL my money in it. When I get home, I simply withdraw any spare balance and put it back into my regular account. Some people also recommend you change your PIN when you get home too.

ATMs give the best exchange rate. Banks and cambios usually give the next best rate. Hotels vary - some give a good rate, some not so much but if you're in a remote location, by the time you factor in the cost of a taxi to the closest bank/cambio/ATM, you might be better off with the hotel's less-than-stellar rate.

It's a sweeping generalization but the worse place to exchange currencies is at the airport - any airport the world over.

Vancouver
Destination Expert
for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
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40,885 posts
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2. Re: Currency ?

Same question asked 1 post down by another Canadian

tripadvisor.ca/ShowTopic-g153510-i166-k59713…

Union, Oregon
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4,097 posts
435 reviews
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3. Re: Currency ?

Pesos go further. I would exchange your money once you get to Mexico. We usually exchange some in the US before we get there and then get more while we are there. Best exchange rates we found were in Playa Del Carmen at the cambios on 5th avenue. Love the CAT, been there 6 times.

Edited: 24 December 2012, 16:03
New York City, New...
Destination Expert
for Yucatan Peninsula
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19,208 posts
71 reviews
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4. Re: Currency ?

I never get money in advance. I would bring some Canadian money in case of emergencies (and because it isnt wise to leave the country with no cash), and plan to get pesos out of a bank affiliated ATM in the airport when you arrive in Mexico.

I bring pesos if I have them left over from another trip, and rely on the ATM to get $. Banks dont give you great rates in the US - maybe in Canada you have more restrictions and they banks cant goudge you as much.

Chances of every bank's ATM being down are slim - and you have the emergency cash to get enough pesos to get you out of the airport in the rare event that it happens.

I usually bring about $300 US that stays locked up in my safe - and everything but the cash I need to pay the taxi from the airport home is left over.

suitcaseready.com

Elora, Canada
9 posts
1 review
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5. Re: Currency ?

Hi, Quick question about currency.

When tipping in pesos for drinks/ cleaning staff etc.

What is a reasonable peso amount to give? 12 pesos=$1 Can.? Is 20 pesos the smallest bill amount?

Will be thinking in Canadian dollars?

In other countries we usually tip $1.00 for a drink and more for cleaning staff and all the hard workers/gardeners.

They work soo hard

Vancouver
Destination Expert
for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
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40,885 posts
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6. Re: Currency ?

yes, 20 pesos is the smallest bill

I tips 40-50 pesos for cleaning staff

and 20 pesos for every few drinks

Elora, Canada
9 posts
1 review
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7. Re: Currency ?

Great, Thanks . That was what I was thinking.

Is there a Canadian bank in Puerto Aventuras for exchange if needed?

Jupiter, Florida
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412 posts
31 reviews
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8. Re: Currency ?

Love the idea of the separate bank account and debit card just for traveling. I will start doing just that, thank you.

Vancouver
Destination Expert
for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
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40,885 posts
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9. Re: Currency ?

Is there a Canadian bank in Puerto Aventuras for exchange if needed?

Yes, a Scotia Bank

10. Re: Currency ?

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