Confused about pesos

I did a search on the forum and got good info but I guess I just want to confirm. We are cruising to Mexico on Dec 10. First time to Mexico and we are pretty excited.I plan to buy Mexican style dresses for my 3 granddaughters, my mother wants one and so does my daughter in law.I will probably buy some for me too, since I love that BoHo style. I would love to bring home some tequila but don't know how I'd get it home on the plane. I will be doing some shopping, is what I'm trying to say..:D

I am thinking we will locate an ATM at a bank near the marina at the first port, which is Cabo, and withdraw pesos to use for the rest of the trip. I'd like to withdraw $200-300 but will the ATM dispense that much at once in pesos? And is that enough for the stuff I want to buy(above)? I will use my credit card where I can. We have a place that I can purchase Mexican pesos here in Seattle but it seems that is not really necessary

Thanks in advance

I did a search on the forum and got good info but I guess I just want to confirm. We are cruising to Mexico on Dec 10. First time to Mexico and we are pretty excited.I plan to buy Mexican style dresses for my 3 granddaughters, my mother wants one and so does my daughter in law.I will probably buy some for me too, since I love that BoHo style. I would love to bring home some tequila but don't know how I'd get it home on the plane. I will be doing some shopping, is what I'm trying to say..:D

 

I am thinking we will locate an ATM at a bank near the marina at the first port, which is Cabo, and withdraw pesos to use for the rest of the trip. I'd like to withdraw $200-300 but will the ATM dispense that much at once in pesos? And is that enough for the stuff I want to buy(above)? I will use my credit card where I can. We have a place that I can purchase Mexican pesos here in Seattle but it seems that is not really necessary

Thanks in advance

Good Questions :). Regarding the Tequilia, you can certainly take booze on your plane...but it must be packed in your checked luggage! Of course you also have to deal with the airline luggage weight limits.

As to the maximum amount of Pesos you can withdraw from an ATM, it depends on both your own bank's daily withdrawal limit (commonly set at $500) and also on any limitation imposed by whoever owns the ATM machine. We have never used a Mexican ATM that had a limit of less then $500...but I suppose it could exist. Also make sure you notify your ATM issuing bank of your trip (before you leave home) and your intent to use your ATM card in Mexico. This avoids possible security issues because of the change in your personal usage patterns. As to whether you are withdrawing enough money.....that is dependent on your own shopping :). Keep in mind that both MC and Visa are widely accepted in shops. Many credit card issuers also want to be notified of your travel plans (in advance) although we noticed that CapitalOne no longer asks for travel notifications.

Hank

I did a search on the forum and got good info but I guess I just want to confirm. We are cruising to Mexico on Dec 10. First time to Mexico and we are pretty excited.I plan to buy Mexican style dresses for my 3 granddaughters, my mother wants one and so does my daughter in law.I will probably buy some for me too, since I love that BoHo style. I would love to bring home some tequila but don't know how I'd get it home on the plane. I will be doing some shopping, is what I'm trying to say..:D

 

 

 

I am thinking we will locate an ATM at a bank near the marina at the first port, which is Cabo, and withdraw pesos to use for the rest of the trip. I'd like to withdraw $200-300 but will the ATM dispense that much at once in pesos? And is that enough for the stuff I want to buy(above)? I will use my credit card where I can. We have a place that I can purchase Mexican pesos here in Seattle but it seems that is not really necessary

 

Thanks in advance

Common maximum amount I see often when withdrawing money at ATMs in Mexico is $3000 pesos per transaction ($150 USD) with a $103 peso ATM charge (about $5 USD). The ATM surcharge depends on the bank of course. I've had better surcharge rates from HSBC banks, but i looked at the map of Cabo and It looks like the closest HSBC bank is a few blocks away from the pier.

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Thank you. I hoped you'd answer, Hank..:). My credit union allows 1000.00 per day but I'm pretty sure there is no ATM that will dispense 20,000 pesos at once, lol. I'll try the 300. And see how it goes. I don't know how much the Mexican dresses are. I paid about 30. In Scottsdale so I am hoping to pay less in Mexico. Yeah, I can plan to make room for tequila!

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Great info. Thank you! I can start with that and see how far it goes. I can't find any info on how much stuff costs so I am having a hard time planning how much to withdraw. Not the end of the world if I have to take more out..plus I don't really know what I will want to buy. My husband says everything I see. I keep telling him Not EVERYTHING !!

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USD has always worked great for us in Mexico.

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Common maximum amount I see often when withdrawing money at ATMs in Mexico is $3000 pesos per transaction ($150 USD) with a $103 peso ATM charge (about $5 USD). The ATM surcharge depends on the bank of course. I've had better surcharge rates from HSBC banks, but i looked at the map of Cabo and It looks like the closest HSBC bank is a few blocks away from the pier.

 

 

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Not sure where you withdraw, but in Puerto Vallarta (where we live a few months a year) we routinely withdraw 8000-9000 Pesos at a time at any of several bank ATMs. The surcharges (which include taxes and a fee) vary from bank to bank (or machine to machine) but seem to average 50-70 Pesos (about 3 -4 US Dollars). Our only limit in the PV bank machines seems to be $500 (US) a day (which would now be about 10,000 Pesos). We have used Scotiabank, HSBC, Banamex, and a couple of others with sur charges varying by no more then 1 or 2 dollars. Some have told us that there are little to know surcharges if you withdraw from a corresponding bank (such as Banamex for those who bank with Citi) but cannot personally confirm if this is true.

Hank

Common maximum amount I see often when withdrawing money at ATMs in Mexico is $3000 pesos per transaction ($150 USD) with a $103 peso ATM charge (about $5 USD). The ATM surcharge depends on the bank of course. I've had better surcharge rates from HSBC banks, but i looked at the map of Cabo and It looks like the closest HSBC bank is a few blocks away from the pier.

 

 

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That HSBC is gone. There is none within walking distance from the tender pier. The closest is at the Wal Mart center.

Almost every place that tourists will shop at a Mexican cruise port in will accept US dollars or credit cards. They post the exchange rate. Make sure you have smaller bills ($1, $5, $10 or $20) and that they are in good condition (not ripped or written on). Ask for change in USD. IMHO you don't need to get pesos.

You really do NOT need to worry about exchanging for pesos.

The US Dollar is accepted in your ports. :D

I live in Mexico. Almost any Mexican Bank ATM will accept your card. I normally take out 6000 pesos at a time. With the peso approaching 21 to the dollar, you will save money by using pesos. Many businesses are still using a 17 or 18 to the dollar exchange, so it is to your advantage to buy the pesos. I never use my dollars in Mexico. If you use your credit card, it will be charged at whatever the exchange rate is at the time of purchase.

Hope this helps.

Brenda

You really do NOT need to worry about exchanging for pesos.

The US Dollar is accepted in your ports. :D

While what you say is absolutely true, you might consider that you will generally (there are exceptions) lose 20-30% on every transaction when using dollars. But so be it :). The current exchange rate is better then 20:1 at ATM machines...while most merchants will only give 17 or 18:1 (or less). If you do use dollars, try to negotiate an exchange rate closer to 20:1. Good luck :).

Hank

While what you say is absolutely true, you might consider that you will generally (there are exceptions) lose 20-30% on every transaction when using dollars. But so be it :). The current exchange rate is better then 20:1 at ATM machines...while most merchants will only give 17 or 18:1 (or less). If you do use dollars, try to negotiate an exchange rate closer to 20:1. Good luck :).

 

 

 

Hank

Losing 3 pesos per dollar isn't horrible. (20 v 17 pesos). Spending $40US in port loses 120 pesos, about $6US. The loss is closer to 15%. Sometimes the convenience is worth it for cruise pax.

Losing 3 pesos per dollar isn't horrible. (20 v 17 pesos). Spending $40US in port loses 120 pesos, about $6US. The loss is closer to 15%. Sometimes the convenience is worth it for cruise pax.

We agree :). For most cruisers, paying a little extra is not going to amount to real money. Many folks could care less about losing 10-20% on every transaction. On the other hand, those of us who live in Mexico pay careful attention to exchange rates and best means of obtaining currency.

Hank

We agree :). For most cruisers, paying a little extra is not going to amount to real money. Many folks could care less about losing 10-20% on every transaction. On the other hand, those of us who live in Mexico pay careful attention to exchange rates and best means of obtaining currency.

 

 

 

Hank

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Losing 3 pesos per dollar isn't horrible. (20 v 17 pesos). Spending $40US in port loses 120 pesos, about $6US. The loss is closer to 15%. Sometimes the convenience is worth it for cruise pax.

The other thing we would suggest is that if you plan on relying on US Dollars...make sure you carry a reasonably amount of small bills (1s and 5s) since some vendors may give you change in Pesos.

Hank

We get pesos from the bank before we leave. The exchange rate is about 1 peso less per dollar but we have them and can hit the shops as soon as possible. The bank has all denominations so I would get 20s, 50s, and 100s for shopping. I would get about $300 worth and you can always exchange back when you get home. If you take 50s or 100s, crisp new US bills, there are several green cambio stations around the Cabo marina area if you need more.

The dresses I bought for a few girls last week ran 300 pesos but got him down to 250 so a little discount. Supposedly hand made but looks like machine to me. lol but they are still pretty and I helped their economy by buying in the quarenta instead of the mall.

Good tequila was about $50 - $100 per bottle US. Be careful that they don't try to sign you up for some dumb tour for a discount. you don't want to waste your cabo time on that.

Do not use the ATMs around the marina area - they are notorius for skimming fraud.

Have fun! If you eat a restaurant you can use your credit card but always remember to have it charged in pesos so you get the better price. You may check to see if you have foreign transaction fees, our cards don't so they do the conversion for you.

The tequilia issue is a lot of fun (we are happy to taste any Tequilia) and, like anything involving booze, is subject to individual taste. But many folks buy good (expensive) Tequilia and then use it to mix Margarita's or some other drink concoction. In Mexico you can buy a liter of El Compadre Tequila for less than $5....and the stuff actually tastes smooth and makes a decent Margarita. Or you could spend $50 on an expensive Tequilia and dump it in a Margarita. And if we had a blind tasting of the two (mixed in margaritas) we doubt if many folks would know the difference. Personally, we drink Tequilia every day while in Mexico and would not dream of spending more than $10 for a bottle of Tequilia that ends up in our Margaritas (we do like the high priced stuff if drinking straight). And by the way, Costco in Mexico sells some darn good Tequilia (their own brand) for about $10 a liter.

Hank

In Cabo the cambio is near the lighthouse on the Marina. You'll need your passport.

Hank, thank you. I am actually Mexican and wouldn't dream of using the " good stuff" in a margarita . I can get cheap stuff here. No, I am hoping to get a decent sipping tequila at a bargain price. So 10. buys a good bottle??!! Now that IS exciting. Already thinking of how to rearrange my bag..:)

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Hank, thank you. I am actually Mexican and wouldn't dream of using the " good stuff" in a margarita . I can get cheap stuff here. No, I am hoping to get a decent sipping tequila at a bargain price. So 10. buys a good bottle??!! Now that IS exciting. Already thinking of how to rearrange my bag..:)

 

 

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We are too cheap (and drink too much) to consider the really good stuff. $10 will get you an average Reposado (like El Jimador) but the really good stuff can cost many times that price.

Hank

We are too cheap (and drink too much) to consider the really good stuff. $10 will get you an average Reposado (like El Jimador) but the really good stuff can cost many times that price.

 

 

 

Hank

I know this thread got off topic but I have to ask, since it appears you have good knowledge on tequila: what would you say would be a really hard to get expensive tequila no more than $200? Something that goes down really smooth and you only open on special occasions? Then what would be a good cheap one that is smoothe? Finally when we get to Cabo, pv, mazatlan, where could we get them?

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I know this thread got off topic but I have to ask, since it appears you have good knowledge on tequila: what would you say would be a really hard to get expensive tequila no more than $200? Something that goes down really smooth and you only open on special occasions? Then what would be a good cheap one that is smoothe? Finally when we get to Cabo, pv, mazatlan, where could we get them?

 

 

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Will honestly say I have no clue. When I drink expensive stuff it is either Cognac or Scotch. But if you would happen to be on the southside (old town) of PV there is a booze store called Vinos America which is located on Basilio Badillo. This store has a pretty decent selection although we have never spent any time browsing the higher end Anjeo stuff. You will also so a few Tequila Stores as you walk along the Malecon.....and these places are generally best avoided as we think their main reason for being is to sell Time Shares.

Hank

Almost every place that tourists will shop at a Mexican cruise port in will accept US dollars or credit cards. They post the exchange rate. Make sure you have smaller bills ($1, $5, $10 or $20) and that they are in good condition (not ripped or written on). Ask for change in USD. IMHO you don't need to get pesos.

I don't think you can ask for US dollars for your change. Can you imagine going into a store in Boston and asking for your change in pesos?? You are expecting way too much of the merchants. There are hundreds of posts on here about pesos and US dollars and so much good information. Everyone should try and read up on the issue.

Wendy:confused:

I don't think you can ask for US dollars for your change. Can you imagine going into a store in Boston and asking for your change in pesos?? You are expecting way too much of the merchants. There are hundreds of posts on here about pesos and US dollars and so much good information. Everyone should try and read up on the issue.

 

 

 

Wendy:confused:

Depends on the port and store. Was in Ensenada on Saturday. Got $US back at a small candy store. Was offered $US at the market, but needed the pesos. For a while the markets wouldn't give change in pesos, only $US when paying in US. Walmart in Puerto Vallarta will give change back in either currency when paying in $US.