Currency Exchange for Guests

Hi girls,

Just wondering, what are you advising your guests to do about money. I've advised on upcharges on credit cards (I experienced these on my AMEX), but didn't think to advise about traveling with traveler's cheques, converting money, etc.

Anyone have any opinions or information that I can pass along to my guests.

The reason that I ask is b/c one of them just wrote about it and I was responding in the way that I usually handle my money down there..... bring US currency, exchange at airport or nearby bank that isn't charging an outrageous fee, and then hit the ATM as needed (I spent 6 months there so I was comfortable using the currency and exchanging), however, I'm not sure what most people are comfortable doing or what is ADVISED for travelers.

Anyone want to chime in with some good advice?

Thanks!

So, I just found this on Frommer's and I'm going to refer guests to it: Mexico : Planning a Trip : Money | Frommers.com

Thought I'd pass it along!

You can spend us dollars in cancun. I don't know if PV is the same.

These are the different tips i have on my website.

CURRENCY:

The Mexican Peso is the currency in the Riviera Maya. The exchange rate fluctuates but is approximately 11 pesos = 1 US dollar. You do not need to convert your money. Dollars are just about everywhere in the Riviera Maya - sometimes prices are even given in US Dollars. When a conversion is made on a price from pesos to dollars the general practice is to equate 10 pesos to every dollar.

I recomend bringing cash (including some small bills), 1-2 credit cards & your ATM card. Do not count being able to withdraw money from the ATM. They often run out of money and are not refilled over the weekend. Read the "packing list" page for more suggestions for traveling with credit cards.

Leave the phone numbers & last 4 digits for your credit cards with someone so they can cancel them if they are lost or stolen.

Call your credit card companies and inform them you will be in Mexico so they do not freeze your account due to suspicious activity.

Inform your bank you will be in Mexico, if you plan on using your ATM card. You can ask them to temporarily raise the max on how much you can withdraw per day.

Thanks great tip I will add this to my website

Thank you I put that on the wedding site.

We never bother with exchanging currency in PV because dollars are accepted everywhere. If you pay for things in US $ your change is usually given in Pesos so you end up with them anyway - but know the exchange rate so you know if your change is correct.

We brought a certain amount of cash for tipping and when we went shopping and needed more we went to the bank. There is a bank right by the Rio Cuale flea market that has ATM's secured in a glass booth and bank security guards if anyone is worried about safety.