Rare PaddleAddict Posted July 24 #1 Share Posted July 24 This feels like a very dumb question but all of the ports we’ve been to in the Caribbean always took US currency. Should we get some pesos from the bank and bring them with us? We’re doing ship excursions in two ports and potentially winging it in Cabo. Have credit cards. Thank you! Link to comment Share on other sites More sharing options...
CruiserBruce Posted July 24 #2 Share Posted July 24 Link to comment Share on other sites More sharing options...
Mike45LC Posted July 25 #3 Share Posted July 25 I am not going to delve into the question of where/how to get Mexican pesos. ATM withdrawals in Mexico, bank transactions from home, whatever. In the Mexican Riviera ports of call (Cabo, Mazatlan, Puerto Vallarta, Ensenada, La Paz, etc.), the vendors are usually happy to take US dollars. It is not convenient for them to accept foreign currency (I mean US), so there is a hidden “convenience charge” in the form of a bad exchange rate. My last visit, the “real” exchange rate was about 16 $Mx to 1 $US. Many stores charged $15 MX to $1 US, for a surcharge of about 6%. If I am buying some snacks and sodas for a total cost of $200 MX, and the storekeeper wants to charge me $14 US, which at 15 pesos per $US is 210 pesos, OK. The extra $2 or so is my convenience fee. My normal purchases (excluding jewelry which is negotiated for in $US) are t-shirts, baseball hats, sweats, small food purchases, etc. Under $100 US. So a bad exchange rate might cost me $7 US or so per purchase. On a multi-thousand dollar cruise, I am not going to complain! I’ll do the math for fun, but I’ll pay! Any large purchases, I pay for using my credit card, and I get a good exchange rate from the bank. There is no hidden “convenience charge” in the exchange rate. WARNING: SOME RESTAURANTS DO NOT ACCEPT CREDIT CARDS. Both street corner taco stands and sit-down restaurants. So be prepared to pay in cash. Before you sit down, ask the hostess if they accept US$ and/or credit cards! There is a chain of Mexican convenience stores called OXXO. Very similar to the US 7-11. I find their exchange rate to be reasonable. If I need some pesos, I might buy a soda and pay with a $20US and request my change in pesos. I pretend that I don’t care about a poor exchange rate, but I really do. So a few years ago, I went to foreign exchange bureau in my home town and I bought about $500 worth of Mexican pesos. I figured that $100 US per port was sufficient. At the end of the cruise, I threw the left-over $Mx into a drawer and used them again on the next cruise and the next one. I’ve bought a few hundred $US more over time. Enjoy the cruise! 2 Link to comment Share on other sites More sharing options...
ATSEAMYLIFE Posted July 28 #4 Share Posted July 28 If you can buy small domination bills from your local bank then I would bring some. The ship excursions will take you places that will take USD and prices will usually be posted in both MXP and USD. The exchange rate is problematic, you will get ripped off no matter what you pay in. Plus, buying in advance from your US bank is never great. Current official bank exchange rate is about 18.5 pesos to the the USD. The money exchange storefronts are doing about 17.8. Local business are allowed to set their own exchange rate, so you might be lucky to get 16.5 to the USD. However, since you're probably not buying a car or diamond necklace the difference overall isn't much. I see you are Orange County, if you happen to be in San Diego the Costco at 1130 Broadway sells both pesos and euros at a very good exchange rate and no fees. That's where we buy pesos, but then we buy $1000's at a time. 1 Link to comment Share on other sites More sharing options...
Dobby36 Posted August 3 #5 Share Posted August 3 I always take some pesos with me into Mexico, since I live in San Diego it’s convenient to get them on either side of the border. I learned that occasionally you’ll want to go eat somewhere where credit cards aren’t accepted and even though many places are relatively inexpensive, US cash can run out quickly if that is the only option you are left with. as mentioned above, I just save mine in a travel bag for my next trip if I don’t use them. also small coins and the 20 notes are great for tips and the occasional bathroom fees in some cities (usually not required in Baja) Link to comment Share on other sites More sharing options...
ATSEAMYLIFE Posted August 8 #6 Share Posted August 8 Exchange rate yesterday at the bank ATM in Rosarito was 19.1. That's the highest it's been in years. Now's the time to get your pesos if you plan to. 1 Link to comment Share on other sites More sharing options...
Ashland Posted August 9 #7 Share Posted August 9 We always (years of cruising to Mexico) just use USD $'s for the small amount of money we use. Not worth the hassle to us personally. Link to comment Share on other sites More sharing options...
ATSEAMYLIFE Posted August 9 #8 Share Posted August 9 16 hours ago, Ashland said: We always (years of cruising to Mexico) just use USD $'s for the small amount of money we use. Not worth the hassle to us personally. Not for you, but it's a hassle for the vendors here in MX. They get ripped on their exchange rate when they go to exchange/deposit at their MX bank. The reason you see such low exchange rates posted at businesses is they try to offset the low exchange rate they get at their banks. 1 Link to comment Share on other sites More sharing options...
Ashland Posted August 11 #9 Share Posted August 11 On 8/9/2024 at 2:09 PM, ATSEAMYLIFE said: Not for you, but it's a hassle for the vendors here in MX. They get ripped on their exchange rate when they go to exchange/deposit at their MX bank. The reason you see such low exchange rates posted at businesses is they try to offset the low exchange rate they get at their banks. Thanks for your input but I'll just continue to do what I've always done. Link to comment Share on other sites More sharing options...
ATSEAMYLIFE Posted August 11 #10 Share Posted August 11 15 hours ago, Ashland said: Thanks for your input but I'll just continue to do what I've always done. As you should... 1 Link to comment Share on other sites More sharing options...
pinto18 Posted August 12 #11 Share Posted August 12 We always get Pesos to bring. On 8/8/2024 at 10:05 PM, Ashland said: We always (years of cruising to Mexico) just use USD $'s for the small amount of money we use. Not worth the hassle to us personally. It isn't much of a hassle to get Pesos from the bank. It is probably more of a hassle for the vendors to exchange the US dollars into their currency ....why make it more difficult for them? 3 Link to comment Share on other sites More sharing options...
Rare PaddleAddict Posted August 12 Author #12 Share Posted August 12 Wow, this turned into a lively discussion! Thank you for all of the great feedback. I'm back to report that we did not get any pesos before traveling as we decided to book ship tours only. We did tip those tour operators with U.S. cash, hopefully that wasn't too much of a hassle for them (everyone else I saw was tipping with USD too). 1 Link to comment Share on other sites More sharing options...
Ashland Posted August 14 #13 Share Posted August 14 On 8/12/2024 at 1:19 PM, PaddleAddict said: Wow, this turned into a lively discussion! Thank you for all of the great feedback. I'm back to report that we did not get any pesos before traveling as we decided to book ship tours only. We did tip those tour operators with U.S. cash, hopefully that wasn't too much of a hassle for them (everyone else I saw was tipping with USD too). Some people just want to always turn things into a debate...absolutely unnecessary. Glad everything worked out for you and hopefully you enjoyed your visit. Link to comment Share on other sites More sharing options...
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