Where can you exchange dollars for pesos?

Currency & Money in Mexico

The official currency in Mexico is the Mexican Peso (MXN).

The currency of Mexico

The abbreviation for the Mexican peso is MXN, mex $ or just $. In order not to confuse this with the US $, price tags can sometimes be used "$ M.N." (moneda nacional) find.

1 Euro currently corresponds to around 20 MXN and 1 MXN corresponds to around 0.05 EUR (as of June 2017).

Currently, the Mexican peso is in Banknotes in denominations of 10, 20, 30, 50, 100 and 200 MXN, as Coins of 1, 2, 5, 10 and sometimes 20 MXN in circulation. This is supplemented by 5, 10, 20, and 50 Centavos (¢). 1 MXN is equal to 100 centavos.

Common means of payment in Mexico

Cash as a means of payment in Mexico

Euros and US dollars are recommended for taking with you from Germany. These can often be exchanged for Mexican pesos without any problems. The local ones are there for you Banks and exchange offices (casas de cambio) to disposal. The most widely used banks in Mexico are the Bancomer, Banamex, Serfin, Banco Bital and Banco del Atlántico. However, there are also branches of the Scotia Bank, HSBC and Santander. However, compared to the Mexican banks, exchange offices have much longer opening times and often offer better exchange rates for cash than the banks.

Especially in rural areas, at stalls or in markets, you should always carry cash in small notes with you. Because there are usually no money cards accepted and large bills can only very rarely be changed by the smaller traders. If you are staying outside of the larger cities for a longer period of time, it is advisable to plan a little more cash and take it with you.

Credit cards as a means of payment in Mexico

The The most common and safest means of payment in Mexico is the credit card. On the one hand, this allows convenient cashless payments and, on the other hand, cash can be withdrawn free of charge from ATMs in the Mexican national currency.

ATMs (caja automática) are already widespread in Mexico and a good way to get cheap Mexican pesos with your debit or credit card. Pay attention to the Maximum withdrawal amount. Withdraw only as much as you really need, especially in times of inflation.

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Please do not forget, however, that you cannot always rely on the technology of ATMs in Mexico. It is quite possible that, despite everything, you still do not receive any money from the machine or the ATM no longer ejects your card. Make sure that nobody is watching you and that the machines have not been tampered with (indications of tampered with ATMs: traces of adhesive around the card slot, components are loose or sticking out, keypads stuck over, etc.). The safest are ATMs directly in the bank, guarded by security guards or those in supermarkets.

Basically: withdraw money during the day! Do not give your card out of your hand!

You will receive information on any fees that may be incurred when withdrawing cash from Mexican ATMs from your home bank prior to departure.

Credit cards are accepted in most hotels, restaurants, major stores, and department stores across the country. You can also use your credit card to provide proof of liquidity to the car rental company, government agency, hotel or hospital. VISA, MasterCard and American Express are accepted without any problems.

In the event of one Loss of debit card in Mexico, please make a separate note of the blocking number somewhere in advance so that your bank can block the cards immediately.

Travelers checks as a means of payment in Mexico

Travelers checks are generally becoming less and less used. Should you still decide to do so Traveler checks (e.g. from American Express) If you take a trip to Mexico with you, it should be made out in US $. Unlike when exchanging cash, banks usually offer better rates when exchanging checks. In any case, pay attention to any fees. Bring checks in various denominations with you when you travel to Mexico.

Hints:

  • In the event that a travelers check is lost, be sure to write down the serial numbers. You will need this if you dutifully report the loss of a travelers check immediately to both the local police and the company itself via the emergency number.
  • Money can be sent from Europe via various banks (Western Union is the most common). Find out more from your bank in advance.

Our tips for the right travel budget in Mexico

Mexico isn't very expensive, but neither is it dirt cheap. Especially in the tourist coastal regions, Mexican cuisine and drinks in Mexico or transfers are about as price-intensive as ours.

In general, it is wise to plan with multiple sources of money and not rely solely on debit or credit cards! The travel budget should come from a healthy one Mixture of cash and cards put together. The amount of cash carried should not exceed 20% of the total travel budget. In addition, you should plan a certain, not too tight, money reserve. A bank or credit card is highly recommended as a reserve.

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