Currency Exchange places?

[TammyB]

Hello, does anyone have a couple of really good places to do currency exchange in Cabo?

[A10CalGal]

Tammy - you totally do not need to exchange your currency. Both US dollars and Mexican pesos are accepted every where in Cabo. You will end up w/pesos because every time you pay in cash, you generally receive change in pesos.

[TammyB]

Thanks Christa, however Cain's Ma gave me a HUGE lecture about the possibilty of getting ripped off with the exchange. So she said it's best to travel use pesos.

 

Did you guys pay everything with cash of did you use your credit card?

[Sarah]

I mostly used my credit card because then I didn't have to worry about exchange rates and stuff. When we were in Cabo for a week we never exchanged any money, bought 90% of everything with a credit card, and what we paid US $ for, the price was actually marked in US$...

[TammyB]

Hey Sarah, did you pay with your credit card in downtown area? I'm not so concerned with paying by credit card at the resorts but I'm not so sure about the smaller business.

[A10CalGal]

Quote:

Originally Posted by TAMMYM Hey Sarah, did you pay with your credit card in downtown area? I'm not so concerned with paying by credit card at the resorts but I'm not so sure about the smaller business.

Tammy,
Most businesses (restaurants, marina vendors, shops) will accept credit cards. The good thing about using a CC is that your CC company charges you based on the official exchange rate on the day of your purchase. Also, you will find that most places list their prices in US dollars. I never felt like I had a problem any of the times I've been to cabo with being "ripped off" due to exchange rate manipulation. I would just check the exchange rate before you go. Today the rate is $1 = 10.927 pesos. It generally stays between 10-11 pesos per dollar.

[TammyB]

Awesome thanks Christa

[NABUMBAH]

just be sure to check with your cc company to see if they charge you a foreign transaction fee. Mine just implemented one, and I found out the hard way when I looked at my account after coming home from Asia. Some cards don't so I would check ahead of time.

[TammyB]

Oh good point, I'll call my credit card companies to find out. Maybe one doesn't charge.

[Sarah]

Quote:

Originally Posted by A10CALGAL Tammy, Most businesses (restaurants, marina vendors, shops) will accept credit cards. The good thing about using a CC is that your CC company charges you based on the official exchange rate on the day of your purchase. Also, you will find that most places list their prices in US dollars. I never felt like I had a problem any of the times I've been to cabo with being "ripped off" due to exchange rate manipulation. I would just check the exchange rate before you go. Today the rate is $1 = 10.927 pesos. It generally stays between 10-11 pesos per dollar.

Yup, like Christa said. I used my cc everywhere- at the mall, in the smaller rinky-dink kind of shops, pretty much all the stores we went to would take a credit card. In terms of exchange rate, I agree with Christa.

Quote:

Originally Posted by NABUMBAH just be sure to check with your cc company to see if they charge you a foreign transaction fee. Mine just implemented one, and I found out the hard way when I looked at my account after coming home from Asia. Some cards don't so I would check ahead of time.

Quote:

Originally Posted by TAMMYM Oh good point, I'll call my credit card companies to find out. Maybe one doesn't charge.

Mine doesn't, so it wasn't a problem for me.