Exchanging money in Mexico

[grandma-annie]

I am going to Mexico soon. When I use my Citizens ATM card there, what are the exchange costs and ATM machine cost.? Also should I use my credit card to pay for purchases and services or pay in cash? Any suggestions would be helpful. Thanks

[l2ridehd]

It has been a few years since I traveled to Mexico, however I have found that the best way to handle cost in most countries is to exchange a minimal amount of cash once you enter the country, I usually exchange $100 US. From then on I use credit cards where ever possible and conserve the cash. If I need more cash, I use an ATM. These methods usually will end up costing the least in exchange fees and other charges. The advantage to credit cards is two fold, protection and you get the exchange rate when the charge is posted. Most do not charge any added fees for this service. I never use traveler checks. I keep my credit cards split so if I lost my wallet or robbed, I can still get by fine. Make sure you make two copies of your passport, record your credit cards with the number you need to call and keep that information in two separate places and someplace at home where you could call to get them to cancel them if needed.

[Russ_Boston]

It has been a few years since I traveled to Mexico, however I have found that the best way to handle cost in most countries is to exchange a minimal amount of cash once you enter the country, I usually exchange $100 US. From then on I use credit cards where ever possible and conserve the cash. If I need more cash, I use an ATM. These methods usually will end up costing the least in exchange fees and other charges. The advantage to credit cards is two fold, protection and you get the exchange rate when the charge is posted. Most do not charge any added fees for this service. I never use traveler checks. I keep my credit cards split so if I lost my wallet or robbed, I can still get by fine. Make sure you make two copies of your passport, record your credit cards with the number you need to call and keep that information in two separate places and someplace at home where you could call to get them to cancel them if needed.

Great advice l2!

I also vote for using an ATM as the best exchange method (I think each transaction was charged about $2-4 bucks?). Also limits cash on hand in case of loss. And credit card for purchases as the exchange is seamless and you have protection built in.

[grandma-annie]

Thanks for the information.... it helped.