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Dollars to Pesos

Philadelphia, PA
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178 posts
28 reviews
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Dollars to Pesos

What is the best way to convert dollars to pesos? I wil be at the GP Colonial for 7nights in Sept 2013, travelling from the US.

Vancouver
Destination Expert
for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
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1. Re: Dollars to Pesos

As you are from the US, using the ATMs at Palladium is the easiest and you get the best rates

I usually get 3000 pesos in small bills at home at an Exchange House that has no fees and rates 'close' to what you get via an ATM

Lots more info over in Top Questions

$$$$$ Pesos / US Cash / Other Currencies / Tipping $$$$$

Philadelphia, PA
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178 posts
28 reviews
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2. Re: Dollars to Pesos

Thank you for the info. Looks like there might be exchange fees associated with using an ATM, so might not be the best route to take.

New York City, New...
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for Yucatan Peninsula
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3. Re: Dollars to Pesos

even with the fees, you come out way ahead with the ATM. Exchange booths have higher fees and the hotel is not going to give you an advantageous rate at the front desk.

There are about 13 pesos to the dollar - if you pay in dollars you get 10 to 1, which means you are losing over 30% on each transaction. This beats the typical 3% fee your bank will impose. There is also a small fee to use the machine, just the way you'd pay a fee for using an ATM that isnt your bank's in the US.

You can call your bank and ask about waiving the fees, or find out which Mexican bank they have a relationship with and the fee to use the machine could be waived.

suitcaseready.com

Traverse City...
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4. Re: Dollars to Pesos

Everybody will charge you a fee, but even with fees, you're not likely to top what you get using an atm...B of A has a partnership with Santander, by which charges can be avoided. And if you do manage to get a better rate w/o using an atm, please come back here and let us know. We will all be more than eager to switch!

Vancouver
Destination Expert
for Akumal, Riviera Maya, Quintana Roo, Puerto Morelos
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42,696 posts
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5. Re: Dollars to Pesos

Looks like there might be exchange fees associated with using an ATM, so might not be the best route to take.

so what bank do you use

Philadelphia, PA
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178 posts
28 reviews
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6. Re: Dollars to Pesos

I use Wells Fargo and Citizens Bank. From what everyone is saying here, sounds like ATM's are the best option. I will call my banks to see if they have partnerships in Mexico.

Buenos Aires
13 posts
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7. Re: Dollars to Pesos

First, don't exchange at your hotel - they have the worst rates. Using your credit card gives you the best possible rate. I found an informative piece on money exchange in Mexico here artdecosuites.com/2012/…

Charleston, South...
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8. Re: Dollars to Pesos

I use the ATMs at the P and fees are very minimal. Ask your home bank about their fees. The front desk at the P will exchange your US dollars but you must have your passport to do it.(Suggest making a color copy of your passport for this purpose.) I have also exchanged larger bills for smaller bills (both US and pesos) with the concierge.

Philadelphia, PA
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178 posts
28 reviews
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9. Re: Dollars to Pesos

Does anyone have experience with the ATM's at the Grand Palladium complex?

Charleston, South...
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10. Re: Dollars to Pesos

Yes, I posted above your post. The ATMs at the P are connected with a bank and fees are minimal (Check with your home bank.) You can get pesos there. You can exchange large pesos bills for smaller one with the front desk.