How much and how to take money to Cancun - 2022 | The best travel tips! (2023)

FAQs

Should you exchange money before going to Cancun? ›

Speaking of cash, yes, you'll want to exchange your currency for Mexican pesos before traveling to Cancun. You'll get a better rate from your local bank or credit union than you'll find at the airport once you've arrived in Mexico.

Cash is a necessity in Cancun, given that many restaurants and gift shops don't accept credit cards. Like many other airports around the world, the Cancun airport is jam-packed with money exchange kiosks looking to convert your money into Mexican pesos.

Pesos, being the national currency of Mexico, will be accepted absolutely anywhere. US dollars will be accepted throughout the Cancun Hotel Zone, but the further you venture into 'real Mexico' the more problems you may find in using USD for everyday purchases.

Our recommendation is to always take an amount in cash, around 150 to 300 dollars converted into Mexican pesos per person, to save on tax and pay small daily expenses.

Tipping in the local currency, pesos, is of course the most convenient option for the recipient, but you can also dole out U.S. dollars. If you do that, be sure to use bills, not coins, because the latter are difficult to exchange.

It's recommended that you buy pesos before you land in Mexico, just in case you need the cash. According to this USA Today article, the most economical way to do this is to buy pesos from your bank in the U.S. Most banks will do this for free, especially if you're not withdrawing a significant amount of money.

U.S. dollars are widely accepted, but stick to pesos.

Most restaurants, hotels, and cabs in Cancun accept U.S. dollars, but to avoid an uptick in price, stick to paying in pesos. Plus, you'll be getting change in pesos, so it's best to stick to one currency.

You can probably use your credit card in Cancun if it's on a major credit card network (VISA, Mastercard, American Express, etc.). Cards on the VISA and the Mastercard network are especially useful, as they're accepted virtually everywhere in the world that accepts credit cards.

Outside of a few purchases like transportation fare or local shops, a credit card will be your best bet for everyday purchases. A card that waives foreign transaction fees like the Capital One VentureOne Rewards Credit Card can help you save on extraneous fees.

Is $100 a lot of money in Mexico? ›

Is $100 in Mexico a lot? With today's exchange rates, $100 USD is about $1,900 – $2,000 MXN. Compared to wages, $1,900 MXN is about weeks' worth of salary for most manual labor jobs outside the major cities of Mexico. So for locals that have basic day labor jobs, it is a decent amount of money.

MONEY EXCHANGE

The short answer is ABSOLUTELY YES, you need Mexican Pesos. You will need pesos for tips, souvenirs shopping, transportation like taxi/buses, tours, bar/restaurants, etc.

The general consensus is that you should have $50 to $100 in cash per day for each traveler. However, this amount could vary considerably depending on where you are vacationing. Some destinations are more cash-friendly than others.

You don't really need to carry around much money in Mexico, especially if you are in major cities like Mexico City, Guadalajara, or Monterrey or beach towns like Puerto Vallarta or Cancun. What is this? Most restaurants, hotels, and shops accept credit and debit cards.

But what can a handful of pesos get you in Mexico? Considering the fact that $100 USD equals over 2,000 MXN, you can get a whole heck of a lot!

They depend upon those tips to live. If you're on a tour with a lot of people (20-100 people), each person should leave a tip of at least $5 U.S. (90 pesos). If you're on a tour with very few people (e.g., four people in your family), the group should leave a tip that is equivalent to 15-20% of the cost of the tour.

Restaurants: For good service, a 10% tip is standard. For really good service, anything between 15% and 20% is acceptable. Street food: Again, tipping is not required or expected, but it is appreciated (saying “keep the change” is sufficient). Taxis: If the driver helps with bags, 10–20 pesos is a good tip.

The American Hotel & Lodging Association suggests leaving a $1-to-$5 tip per day for the housekeeping staff.

The best way to get pesos in Mexico for your trip is to use your debit card at an ATM. We recommend exchanging enough pesos from your home country before your trip to make it through your first day. Afterward, simply get cash from a local ATM to get the best exchange rate possible.

At food stalls and low-cost eateries (fondas and cocinas economicas) most patrons do not leave a tip, but if you do give one, it is greatly appreciated. When drinking at a bar, whether it be in town or at your all-inclusive resorts, it is appropriate to tip 20 pesos per drink, or the equivalent to $1 USD.

What card is best for Mexico? ›

Go with Visa or Mastercard.

Carry at least two cards on your trip to Mexico, preferably connected with Visa or Mastercard. If you just take an American Express card, you won't get to use it in many places.

Travelers staying in the State of Quintana Roo (Cancun, Playa del Carmen) should always carry their (original) passport and proof that they are staying in the country as tourists with them: inspections are frequent and those who cannot present the required documents may be subject to coercive measures.

When traveling in Mexico, the law requires that foreign visitors carry a passport and entry permit. You may be asked to present these documents at any point.

Mexican style includes everything from traditional dresses to fashionable jeans and stylish tops. Most Mexicans dress more modestly, including wearing jeans and pants even in the warmest months. Packing dresses, lightweight long pants, and capris will help you blend in more, especially outside of coastal areas.

Taxi drivers will accept dollars, though at a less favorable rate than pesos. Within the downtown area, the cost is about 25 pesos per cab ride (not per person); within any other zone, it's 70 to 110 pesos. It'll cost about 180 pesos to travel between the Hotel Zone and downtown.

One should check with their banks to find out the exact ATM charges. Yes, you will be able to transact with the debit card outside the United States. You will be able to pull out cash from ATMs with your debit card. You will also be able to make purchases in Mexico with your card.

The best place to change travelers checks (does anyone still use those?) is at a money exchange place or 'Cambio' in downtown Cancun. The Cambios in the Cancun hotel zone normally offer an inferior rate but may be more convenient. There are many of these in the main shopping areas.

ATM machines are all over Cancun hotel zone and there are a few in the downtown area of Cancun. It is safest to use ATMs in banks rather than free-standing machines in order to avoid scammers (the transaction fees are also lower in the banks). ATMs dispense pesos and receipts are in pesos.

So, how much spending money should I bring to Mexico? On a mid-range budget, you should expect to spend $110 USD ($2200 MXN) per person daily. This accounts for 3 meals a day, transportation fare, and one activity per day(tours, attractions,etc.). Add $10 USD ($200 MXN) if planning to drink alcohol.

Paying with Credit Cards.

Most of the stores, hotels and restaurants in Cancun and the Mayan Riviera takes as method of payment Visa, Master Card and American Express.

How can I avoid ATM fees in Mexico? ›

Budget traveler: if you have a tight budget and you pay close attention to what you spend, $35 – $50 per person per day may be sufficient. Mid-range traveler: If you want it a bit more luxurious where you do a few more expensive activities or stay at nicer accommodations, plan a budget of $50 – $100 per person per day.

Is 50 Pesos a Good Tip? In Mexico, a good rule of thumb for tips is to leave 10-15% of the bill. 50 pesos would be a standard tip for a bill that was around 500 pesos. For example, if you go out for dinner and get drinks, you should expect to spend around 400 MXN.

1 USD = 18.34843 MXN Mar 10, 2023 00:35 UTC

The currency converter below is easy to use and the currency rates are updated frequently.

For non All-Inclusive vacations we budget about 1000-1200 pesos per day for the two of us- this amount is for drinks and food and cab fare and tips and other minor incidentals, not tours or fishing or diving. Maybe another 5000 pesos for that, or so, for a week trip, say.

Money belts and neck wallets — those flat, cloth pouches that fit under your clothes — are the traditional ways to carry money safely while you're traveling. They're meant to escape the notice of pickpockets and muggers, and some even have RFID blocking to keep your credit card and passport information safe.

Credit cards are generally more secure than cash, but they have some downsides, too. Even after this experience, I'd still recommend traveling with a little cash in addition to credit cards. Paying for my family's checked bags could only be done with a credit card, but taxis on the island were cash-only.

How much cash can I take to Mexico per person? ›

If you enter or leave Mexico, you must declare any sum of money equaling US$10,000 or more that you bring in cash, checks, money orders, other cashable documents or a combination of them. Failing to declare carries a fine ranging from 20% to 40% of the exceeding amount.

Don't Spend Your Money in Dollars

As mentioned above, don't ever spend USD dollars in Mexico. Places will give you terrible exchange rates—which is why they accept USD. They'll offer you 15 pesos to the dollar (if not less), and the exchange rate is 20:1.

Should I exchange money before I travel to Cancun? Speaking of cash, yes, you'll want to exchange your currency for Mexican pesos before traveling to Cancun. You'll get a better rate from your local bank or credit union than you'll find at the airport once you've arrived in Mexico.

Credit cards are gold around these parts but it's still a good idea to bring cash along when you travel, even on an all-inclusive vacation. While you won't be paying for meals or drinks, it's a good idea to make friends with your bartender at the beginning of the trip by leaving a tip up front.

In Mexico, you can live a comfortable life on $1,000 a month. The average cost of living for expats, digital nomads and retirees varies between $600 to $2,000 depending on one's lifestyle choices and their location. Baseline costs in Mexico are around $750 a month.

You can get better rates by ordering foreign currency from your local bank or credit union before you start your trip. Correct! Banks and credit unions generally offer the best exchange rates, and many won't charge extra fees to exchange currency. Remember to order the foreign currency before you start your trip.

Banks operating in Cancun.

Banamex, Bancomer, HSBC, Scotia Bank, Banorte, Santander and Banco Azteca. Each bank has several branches spreaded all over the city, it is very easy to locate them. The head offices are located in the Tulum avenue in downtown Cancun mainly.

It's not always better to exchange before you fly

In many countries, you're likely to get more for your home currency once you arrive – just make sure you avoid airports and unreliable vendors and choose somewhere trustworthy, such as a bank.

These fees can be avoided by choosing a bank account that doesn't charge fees and reimburses out-of-network ATM fees and by always withdrawing local currency from ATMs. Account holders can also ask their home bank if there are partner branches or in-network ATMs in the destination country or countries.

Key Takeaways. Currency exchange shops and kiosks in airports are not the best places to exchange money. For the best rates, try a local bank or a bank ATM to make your currency exchanges.

Is it better to get euros or use debit card? ›

Advantages of an overseas card

The main advantage of using a debit or credit card overseas is that you won't pay foreign transaction fees every time you spend. While many also won't charge fees for cash withdrawals, you will still usually be charged interest from the date of the transaction if you use a credit card.

In Cancun - Mexico Tipping is Customary and expected in many situations. Most of the workers in Mexico live off modest wages so rely on tips to earn a living wage. You can Tip in most major currencies such as US Dollars, Euros and Canadian Dollars however best practice is to tip in Mexican Pesos or US Dollars.

In Mexico, tipping in either U.S. dollars (bills only, no coins) or pesos is acceptable, though pesos are usually more practical for the recipient (and will save them a trip to the casa de cambio). The amount you tip is at your discretion and should be based on the quality of service you received.

1 USD = 18.60139 MXN Mar 14, 2023 20:30 UTC

The currency converter below is easy to use and the currency rates are updated frequently.

Money belts and neck wallets — those flat, cloth pouches that fit under your clothes — are the traditional ways to carry money safely while you're traveling. They're meant to escape the notice of pickpockets and muggers, and some even have RFID blocking to keep your credit card and passport information safe.

The general consensus is that you should have $50 to $100 in cash per day for each traveler. However, this amount could vary considerably depending on where you are vacationing. Some destinations are more cash-friendly than others.

Best day of the week to exchange currency

According to data from WeSwap and The Telegraph, you'll generally enjoy the best currency exchange rates on Fridays and Saturdays. Currency can fluctuate throughout the day too, with the morning or late afternoon cited as the best times to buy.

ATM machines are all over Cancun hotel zone and there are a few in the downtown area of Cancun. It is safest to use ATMs in banks rather than free-standing machines in order to avoid scammers (the transaction fees are also lower in the banks). ATMs dispense pesos and receipts are in pesos.

For vacationers we recommend cash/credit cards. You need cash for making purchases, especially if you want to bargain. There are also numerous small exchanges that will take place and you will need cash for this. For major items use a credit card.