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Pesos vs Dollars

Winnipeg, Canada
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13 posts
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Pesos vs Dollars

Is it best to bring lots of pesos with us. Myself and three girlfriends are coming at the end of the month for three weeks. I have been before and loved it but none of the other girls have. They are a little nervous. I used the bank machines last winter but noticed the exchange could get a little pricey and varied whereever you went. Our hotel wants us to pay upfront in pesos so that is quite a lot of pesos to carry. Is it cheaper/easier to just buy those at the airport before we get on the bus? Or should we bring sufficient funds with us to pay for the hotel and get a few things in to our spot before venturing to the markets etc.

Any suggestions?

Queretaro City...
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1. Re: Pesos vs Dollars

Won't your hotel accept card? Generally it is best to use ATMs to get pesos as the charges are less than simply exchanging your dollars for pesos at a bank. If you really have to be ready with a wad of pesos on day 1 I recommend you obtain them at home and bring them with you (split them between you if you think you might lose them all!) rather than exchange them at the airport which will cost you a lot.

Vancouver BC
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2. Re: Pesos vs Dollars

Bank machines offer the wholesale exchange rate so are better than at a bank at the same point in time. Of course exchange fluctuates but you won't get a poorer rate. You will encounter machine charges between say 20 pesos and 80 pesos at the Mex end and whatever your own bank adds for international access. Likely $5. Bring Pesos and top up at the ATM. Pay with a credit card if accepted. The CC rate will be the same as the ATM (within pennies) for a transaction the same day.

Texas Gulf Coast...
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3. Re: Pesos vs Dollars

Mycosmos1,

Welcome to TA! I would do as SteveMex has said, and exchange a little bit (say 100 - 200 each) at home. I strongly urge you NOT to exchange them at the Casa de Cambio in the Airport in Pto. Vallarta, as that is just about the WORST exchange rate you could find ANYWHERE.

If you are comfortable using your debit card (ATM),. the ATM machines in the Pto Vallarta airport are fine. Just make sure to let your bank know the exact dates of your travel plans and make sure your PIN is a four (4) digit number.

¡Se diviertán!

Alberta
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4. Re: Pesos vs Dollars

Mycosmo...another suggestion is go online to ICE Currency Exchange. They offer a "click and collect" option whereas you order your pesos ahead of time and pick up at the airport on the way to your flight. There are no extra fees and you do not pay until you pick up. I have done this several times and its great. I get a better exchange rate than at my own bank.

Also, I have found the Currency Exchange offices in Sayulita have a very comparable rate for exchanging Canadian money. The ATM machines should be a last resort - especially the one near the plaza.....91 peso service charge at xmas plus my own bank fee.

Winnipeg, Canada
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5. Re: Pesos vs Dollars

Thanks our hotel wants pesos so will bring a wad with us. Lat year I just used the ATMs in Sayulita when I need pesos. The three girls who are coming with me are nervous about this. Me not so much.

Winnipeg, Canada
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13 posts
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6. Re: Pesos vs Dollars

I used the machines in the Air Port before and had no problems. I have notified my bank already so should be no big deal. Thanks.

Salmon Arm, Canada
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7. Re: Pesos vs Dollars

No worries down here in Sayulita tell them. Just some machines have a daily limit of $4000 P we paid cash for our hotel as there was going to be a 19% tax to pay via MCard? Anyone heard of that? That can add up if your staying the three weeks like us

Vancouver BC
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8. Re: Pesos vs Dollars

19% for using the credit card sounds like a hotel surcharge to dissuade you. Not standard procedure and possibly against their credit card contract.

Queretaro City...
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9. Re: Pesos vs Dollars

19% represents the government tax - 16% for IVA (sales tax) plus a 3% accommodation tax. By paying in cash the establishment is avoiding (evading?) tax and passing the saving onto you. If you pay by credit card then there's a paper trail and they would have to pay the tax.

10. Re: Pesos vs Dollars

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