Discussions

Just wondering when others have traveled to Mexico did you like to use American money or pesos? Pros and cons of each. Will be traveling there for the first time and wasn't sure what to use.

This topic has been discussed many times, I believe most people will tell you not to bother with pesos.  
 
We took only US to our all inclusive. The staff seem to prefer American, tour guides also mentioned to us that most do prefer US. Even ATMs dispense us cash. Have fun.

I've been to Mexico numerous times and have only used American money. Some people might say you can barter better with Pesos but everything is listed in USD anyways at the markets. But take lots of small bills. Ones and fives especially for tips. The couple times I tried to change a twenty for ones wasn't easy.

Pesos.  
 
American money is ok if you already have some on hand in your drawers.  
 
Otherwise Exchanging Canadian for US to go to Mexico will make you exchange money twice which is expensive.  
 
If you have time, exchange a bit of Canadian to Pesos at a major bank here before you go. That entails going to the bank here and ordering some 3-5 days before heading out. That gets you through the airport and taxis and any incidentals.  
 
When you get to Mexico, avoid the airport/independent or corner ATM's and head to Scotiabank ATM which are present in most places in tourist Mexico or the National Bank of Mexico and withdraw from these machines.  
 
You just want some Peso's to get you by until you can get to a proper ATM there.  
 
Always a contentious issue with travelling, but with money laundering and US dollars, the Mexican government has cracked down on US money. Last resort I stayed at actually preferred Canadian. This will depend where you're going in Mexico.  
 
In my opinion and I agree with this blogger, take a few Peso's obtained through your bank to get you there, then do ATM there at a reputable bank.  
 
If you exchange Canadian for American money before going, you're losing bucks.  
 
Mexican people need to take US money to the bank and they lose.  
 
Just give them Pesos, as they know. Much easier.  
 
Couldn't imagine Mexican people coming here to Canada and expecting us to receive  
Peso's and us having to exchange them.  
 
I've been travelling to Mexico for years. Peso's are much better. It's their home currency. And most don't have the time nor travel to exchange money at a bank. Every cent counts for them as they make very poor wages.  
 
Just my personal opinion.  
 
https://www.tripadvisor.ca/ShowTopic-g154267-i323-k7133224-Pesos_or_canadian_dollars-Nuevo_Vallarta_Pacific_Coast.html  
 
http://www.banderasnews.com/1212/to-savingmoneyoncurrencyexchange.htm

Kellye said "Pesos.     American money is ok if you already have some on hand in your drawers.     Otherwise Exchanging Canadian for US to go to Mexico will make you exchange money twice which is expensive.     If you have time, exchange a bit of Canadian to Pesos at a major bank here before you go. That entails going to the bank here and ordering some 3-5 days before heading out. That gets you through the airport and taxis and any incidentals.     When you get to Mexico, avoid the airport/independent or corner ATM's and head to Scotiabank ATM which are present in most places in tourist Mexico or the National Bank of Mexico and withdraw from these machines.     You just want some Peso's to get you by until you can get to a proper ATM there.     Always a contentious issue with travelling, but with money laundering and US dollars, the Mexican government has cracked down on US money. Last resort I stayed at actually preferred Canadian. This will depend where you're going in Mexico.     In my opinion and I agree with this blogger, take a few Peso's obtained through your bank to get you there, then do ATM there at a reputable bank.     If you exchange Canadian for American money before going, you're losing bucks.     Mexican people need to take US money to the bank and they lose.     Just give them Pesos, as they know. Much easier.     Couldn't imagine Mexican people coming here to Canada and expecting us to receive   Peso's and us having to exchange them.     I've been travelling to Mexico for years. Peso's are much better. It's their home currency. And most don't have the time nor travel to exchange money at a bank. Every cent counts for them as they make very poor wages.     Just my personal opinion.     https://www.tripadvisor.ca/ShowTopic-g154267-i323-k7133224-Pesos_or_canadian_dollars-Nuevo_Vallarta_Pacific_Coast.html     http://www.banderasnews.com/1212/to-savingmoneyoncurrencyexchange.htm "

Is pretty much exactly what I was told by a travel agent, and what we did. Had no problems at all.

We just got back from Mexico and American money is the way to go. We did have some pesos but they would have to figure out how much was needed as everything was marked in US dollars. Close to resorts that is. The farther you get away from resorts I'm sure pesos work better. We have US $1 for tips and they were very happy. Friendly bunch at our resort. Grande Bahia Tulum. Rivierera Maya

Pesos.  
 
Went last year and although they do accept American everywhere if you do the math Pesos is always cheaper. To exchange to American you lose money, they you pay more in American than you do in Pesos.  
 
Or if in a restaurant off the resort we paid with our credit card and got a much better exchange rate Canadian to Pesos than if we had paid in American.  
 
You are in Mexico, there dollar is Pesos. If you have American on hand I would certainly take it, otherwise I would exchange to Pesos here or at a bank/ATM in Mexico (not a tourist area exchange booth).

Bluebell said "Pesos.     Went last year and although they do accept American everywhere if you do the math Pesos is always cheaper. To exchange to American you lose money, they you pay more in American than you do in Pesos.     Or if in a restaurant off the resort we paid with our credit card and got a much better exchange rate Canadian to Pesos than if we had paid in American.     You are in Mexico, there dollar is Pesos. If you have American on hand I would certainly take it, otherwise I would exchange to Pesos here or at a bank/ATM in Mexico (not a tourist area exchange booth). "

Paying local currency will always get you the best deal regardless. If you pay in US they will just round up and maybe even pad it a bit. Although if you are at an all inclusive resort I suppose a single or two as a tip is more accepted but off resort I would do pesos. If you have US money already take it otherwise just exchange Canadian at the bank (need passport) if you want the best rate. Otherwise there are numerous money exchanges on the street just watch and know the rate and ALWAYS count and verify your money in front of the teller before leaving. You can also use your debit card and pull pesos out of the bank machines. Just look on the back of your card and make sure your symbols correspond with the machines, you will always find ones that will. And a tip try and use ATM's were you don't fully insert your card, I lost one once and it was a pain trying to get it back.

Here is another current article that addresses this very topic and is an interesting read.  
 
Everyone will have different views on this, of course.  
 
Mexican goods and products, with all due respect to NEW DAD's post above are priced in Peso's, but in popular touristy areas, items may (not always) also have an additional U.S. price on the tag as well.  
 
You can download a currency exchange app if carrying your smartphone, or print out a wallet sized cheat sheet [find online] to carry in your wallet for Peso > Canadian dollar exchange value. It's very handy at times.  
 
In my experience, things there are mostly priced in Pesos, as that is their currency.  
 
Have a fabulous vacation.  
 
https://www.tripadvisor.ca/Travel-g150768-s601/Mexico:Banks.And.Money.html

Remember - before you get your pesos, don't tip anyone with a Loonie or Toonie or any other foreign change. They can't exchange coinage at their bank in Mexico.