I will be heading down to Playa del Carmen (staying at the Iberostar Tucan) on Friday.

I've been told I should plan to use pesos not dollars for better prices. Is this true?

Any tips for the best rates for exchanging money? The hotel? Or a local bank? Or elsewhere? I assume the airport won't be a great rate.

Thanks in advance for any advice and hints you can provide!

swimfan,

I have NEVER had a problem using dollars, so I would not worry about that...though I do usually carry a few Pesos. In terms of exchanging a few dollers:

1.) Do it in the USA before you leave.
2.) DO NOT exchange money at the airport.
3.) There are a number of "Cambio's" where you can exchange money once your there or at the hotel.

Again, everyone will accept dollars and it should have no bearing on what price you will pay!

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swimfan wrote:I will be heading down to Playa del Carmen (staying at the Iberostar Tucan) on Friday.

I've been told I should plan to use pesos not dollars for better prices. Is this true?
Any tips for the best rates for exchanging money? The hotel? Or a local bank? Or elsewhere? I assume the airport won't be a great rate.
Thanks in advance for any advice and hints you can provide!

For the first question: Yeah, it is true, your best option is to disburse anything in cash and you can always pay with Pesos. Almost of the businesses accept US Dollars, but the exchange rate could be very low. Few places will accept other currencies like Euro.
2nd Q: Bank is the only choice you can have for the best rate especially for other currencies beside dollars.
In question of Elsewhere…. (Hahahah.. kidding).. Ask first; Anyways, just don’t forget your passport.

There are good numbers of ATM’s in Playa del Carmen and they will provide you cash in Mexican Pesos. Usually they will dispose USD 200 per day. Make sure not to forget your secret number.

No banks in Playa will give you cash from your credit cards, not even with your passport. And American Express is not always accepted.

How about pesos from your bank in the U.S.? From what I read from some banks have or can get pesos pesos if requested. Not sure of the exchange rate. I will ask Chase, before leaving.