We are going to Cabo/Mexico and wondering about money?

Question

Should we bring lots of cash and convert it to Mexican money (pesos?), will they accept amex/visa, US cash

basically, how should we handle the finances while down there

If we should bring cash, how much

Answer 1

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.

Answer 2

Hola. I'm a canadian living here in Cabo, and I use my bank cards and credit cards pretty well all the time here. There are ATM's all over the place. It gives the best exchange rate on the dollar too.

The machines give you pesos. Most of the retailers bars, restaurants take either american or pesos. It's always good to have both, as maybe the odd store or taxi driver may not accept american money. Rare though.

I would recommend bringing a few US dollars down with you for incidentals, but then use the ATM's to withdraw funds for the rest of your trip, or use your Visa/MC/Amex Express cards. Have an excellent vacation!

Answer 3

You can pay for everything in US dollars in Cabo, however you will be charged a little bit more. If you want pesos, just get them from the ATM. Everywhere will take your credit cards. You seem to be under a misconception about Cabo, it' more american than mexican now days.

Never take a lot of cash anywhere, you are just asking to get robbed.

Just bring a few hundred dollars but try to not use them, pay for everything with your credit cards and get pesos from the ATM for everyday spending.

Answer 4

Don't stress it! I was just there 2 weeks ago, I have time share there. The amount depends on how much you plan on doing! When I was there I never converted my american dollars. Everywhere I went took american. Some places only take pesos but rare. It's always good to have a few pesos on you. Have a great time!! I love Cabo!!