pesos in mexico

[robgvic]

Someone mentioned the Mexico passed a law saying only pesos can be used n mexico to stop money laundering. I guess I will need some pesos for my stop in Cozumel.

Can anyone confirm who has been there recently

[georoc01]

I just returned from a 5 day trip to Cozumel and didn't hear about the law until this morning.

 

Never came up in any purchase, including those over $100. That included meals, hotel and diving. All with USD.

 

The only issue we ran into was one cab driver who wouldn't take a US $10 because it had a small tear in it. Said his bank wouldn't take it. Used it at the next store with absolutely no problem.

[paul929207]

i read that Mexico was limiting the size of US$ transactions. I think the limit will be $1000. For most passengers this will probably not be a problem. Credit Cards will still be accepted.

[califgary]

I just returned from a 5 day trip to Cozumel and didn't hear about the law until this morning.

 

Never came up in any purchase, including those over $100. That included meals, hotel and diving. All with USD.

 

The only issue we ran into was one cab driver who wouldn't take a US $10 because it had a small tear in it. Said his bank wouldn't take it. Used it at the next store with absolutely no problem.

 

i hear that about bills with tears and such - one time i had a bill that was taped up a bit and they refused to take it! Now about a month before a Mexico trip I start visiting my bank and get cash asking for bills with "no tears, no tape, no ink, no writing on either side" boy do they hate me but its worth it!

[luv2travel2beaches]

We did have problems with torn currency a couple of years ago. It is well worth the effort to make sure your currency is not torn and don't accept any torn currency from someone else.

[mytime53]

I've even had problems in the U.S. with torn bills. I ended up having to charge a $3 item a couple of years ago because the $5 bill tore in 1/2 when I unfolded it. Even though the clerk saw it tear, he wouldn't accept it! I understand foreign merchants not wanting them, but here? Crazy.

[Morgsmom]

Wow!! Never realized that. I will have to put aside special bills for Cozumel!

[Passin Thru]

Just exchange your $$$ for Pesos, thats just lazy. They may quit taking US dollas altogether because of the money laundering problems. Never mind, help the drug cartels.

[simbasmom]

Someone mentioned the Mexico passed a law saying only pesos can be used n mexico to stop money laundering. I guess I will need some pesos for my stop in Cozumel.

Can anyone confirm who has been there recently

Although I haven't been in Cozumel, I remember this was a rule, temporarily, a couple months ago. It was a real pain for those of us who travel to Mexican border towns and always just used dollars. Yes, it was to stop money laundering, but for whatever reason, they discontinued it after a week or so. But of course, they could institute it again at any time.

[Colo Cruiser]

Was there 2 weeks ago.

US $$$ were excepted freely. :D

[MSN-Travelers]

Someone mentioned the Mexico passed a law saying only pesos can be used n mexico to stop money laundering. I guess I will need some pesos for my stop in Cozumel.

Can anyone confirm who has been there recently

 

A new law was enacted to help slow down money laundering. This law represents a huge change for the tourist industry in Mexico. As with all change, it takes a long time before it reaches down to the lowest levels of the economy (taxi drivers, beach vendors, etc.).

 

Every one of you will have different experiences. Bottom line ... USD's may be accepted, now and in the futures, but we can't EXPECT that they will be accepted for all transactions. Here is a brief news release put out by a travel agency that should explain what is happening -

 

New Mexican Law on Accepting US Dollars

 

September 8, 2010 at 2:24 pm

POSTED BY: Eileen Herncane

CATEGORY: Hot Topics, Travel Tips

 

The Mexican Government passed a new law, which comes into effect in Mexico starting September 14, 2010. I wanted to share the information, which I have received from our off offices in Mexico so everyone is aware.

Starting September 14, 2010 the use of CASH American Dollars to make purchases in Mexico will not be as free as it has been in the past.

Many repeat guests to Mexico who have become accustomed to using American Dollars CASH in Mexico as though they were effectively in the United States will notice the difference. Other payment methods such as Credit Cards of all types and all issuing banks, Travelers Check’s, Mexican Pesos and non American Dollars foreign currencies in cash (ex Euros or Canadian Dollars) are not affected in any way by this new law.

 

 

 

The most noticeable differences to Apple Vacations’ customers will be:

1. Hotels and Exchange Booths will only be able to change a maximum of $1,500 USD CASH per person per month into Mexican Pesos. Previously there was no limit.
   
2. Businesses (including Amstar DMC in Mexico) will only be able to accept a maximum of $100 USD CASH per transaction - but the number of transactions per customer is not restricted.
   
3. Certain businesses may not be able to, or may choose not to accept American Dollars CASH for any purchase at all (this may include shops etc)
   

If a customer wants to purchase an excursion (for example) that costs $139 US dollars per person, he/she will only be able to pay $100 USD of this amount in USD CASH and the remainder will need to be in another form of payment (credit card, Mexican Pesos cash, etc).

Vacationers should never carry large amounts of American Dollars cash with them to Mexico, but instead they should consider either using a Credit Card, taking Mexican Pesos cash, taking Travelers Check’s (of any currency) or withdrawing money locally in Mexican Pesos.

I know I do that myself on vacation, when I land in resort, I seek out an ATM machine and withdraw money in a foreign currency. I hope you find this information helpful.

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

 

We vacation in Mexico every year and rarely use anything other than pesos we get out of an ATM.

 

Enjoy!

[buckanear]

As with all change, it takes a long time before it reaches down to the lowest levels of the economy (taxi drivers, beach vendors, etc.).

 

Exactly, as soon as local taxi drivers and vendors reach their limit (they can only deposit so much American $$) then they will be forced to only accept pesos because the American $$ will be useless to them.