Going to Cabo, what is the best way to bring money?

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bluecabo

OK everybody, this is the holly mole,..... pay attention.

Take a little of everything (cash, traveler's cheques and credit cards).

As a rule, pay in pesos if the price is in pesos, or pay in dollars if the price is already converted to dollars. Always have little of both.

When the price is in pesos, pay with credit card as much as possible, in this way you always have cash available for some souvenirs if they take only cash.

When the price is in dollars, ask if they accept traveler's cheques, and pay with them. $20 and $100 USD is easy for small and big purchases, and expect to have pesos as a change. They may also ask you for picture ID, so don't forget it.

Credit cards are necessary for checking inn at your hotel or renting a car, but make sure to tell your bank that you are going to Mexico, you don't want to be embarrassed in front of other people, that may think that you are broke, in case it is denied.

Have a great time with us and happy shopping.

Diana L

if you bring cash, only take a small amount and get it exchanged into pesos before entering mexico, so you can get a better exchange rate.

You can take cash, but I would take very little & pull money out of the ATM. Many countries have a limit of 4 digits for your pin. Not sure if this is the case in Mexico, but just in case, it would be best to change it to a 4 digit numeric pin. (Not all machines have the corresponding letters on the number keys.)

scorpygirl

A credit car is better and a little of cash in small domination's and if you can exchange it for pesos i thing is better. and if you run out just go to the any bank and get what you need.

sparks_mex

Credit or debit cards are the best thru an ATM. The fee depends on your bank and the bank you are using at the moment. Some Mexican banks will charge about 70 cents to use the ATM no matter the amount (they will warn you). Your bank may charge you from ZERO to 5 bucks. All Mexican banks charge a 1% exchange fee. Banamex (largest bank in Mexico) does not add an extra fee if the ATM is in the bank. They all do if the ATM is in a large store like Sorianas.

You also get the best exchange rates with an ATM - to the tune of 10%. Local businesses will try to give you 10 to 1 when the actual rate is closer to 11 to 1.

Use a credit card as little as possible to pay bills because they may add an extra charge. If you do use it don't let it out of your sight (they've been known to double swipe it or worse).

Travelers checks are good for emergencies but often difficult to cash in Mexico.

pootfart3

Bring a lot of it and bring it to me. Let me spend it for you so that you don't get any germs from all that filthy money.....

woht

Master Card or Visa cards, they're accepeted almost everwyehre, and you can take cash in ATMs with them.

Cash is OK, but if you lose it or if it is stolen then you'll have problems, and if you change US dollars into Mexican pesos, you'll lose with the change.

Travelers cheques are OK also, but the same, you'll lose and they are sometimes difficult to be accepted.

Credit card is the better option

PS: sparks-mex is lying, you never have to pay a commission when paying a bill with credit card.

Ingrid

Credit cards and traveler's checks.

I always take Traveler's Checks everywhere I go because they are so convenient and if you lose them you are ok. You also only pay commissions when you actually exchange them for currency.

Credit Cards sometimes have hefty fees associated with using them overseas and are more open to fraudulent activity.

A lot of businesses take the checks - do research to see what they do in Mexico.

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