exchanging currency

sarabear75

This may be a stupid question but I have never traveled out of the united States. Should we exchange our currency before we get to our resort (Mexico)? If so where can we do this? Is there places that they keep more of your money during the exchange?

sarabear75

Thanks! I cannot believe I didn't even think to check the website.

hz80408

Are you on an AI?

If you are, you won't really need any currency exchange.  I would assume the resort would give you better rates then the airport

(We learned this the hardway having just got back from Europe.  At the airport the exchange rate we got for cash to Euro was $1.49; and from the atm is was the "real" rate of $1.31)

[Deleted User]

We stayed at an AI in Mexico and did not change out money. We us USD and got pesos back in change.

mica178

Usually the hotel concierge will not give you the most favorable exchange rate.  I usually find that using a national ATM gets a better rate, although you'll have to pay for the international fee from your bank as well as the bank's fee for not being one of their customers.

dazyabbey

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_honeymoon_exchanging-currency?plckFindPostKey=Cat:Wedding BoardsForum:11Discussion:2814a152-457e-48b8-a55b-7b8655682695Post:e547d4cc-53af-470c-b74a-74d3df3043c5">Re: exchanging currency</a>:
[QUOTE]Usually the hotel concierge will not give you the most favorable exchange rate.  I usually find that using a national ATM gets a better rate, although you'll have to pay for the international fee from your bank as well as the bank's fee for not being one of their customers.
Posted by mica178[/QUOTE]
This is the best way to do it. You won't need a whole lot of money in Peso's though like the other posters said.

jemmini6

We stayed at a non-AI resort in Mexico for our HM and we never exchanged any money.  At the resort, we just charged everything to our room, which went on a credit card at checkout.  Outside of the resort, we used USD and they gave change in pesos (I had a currency exchange app on my phone to make sure we were getting the correct change).  Almost every business in resort areas accept USD or credit cards, so I wouldn't worry about it too much.

hz80408

Agreed; if you're going off the resort and need pesos; then ATM is best if you have access to one.  Like pp's said; your bank may charge a fee; so depending how much you take out and the rates at the hotel, it may be cheaper to do one vs the other

(For example, Chase charges a $5 fee and also 3% fee of  the amount you're withdrawing)

alithebride

airport exchange places are the worst imo.

if you're going to an AI in mexico you wont need to exchange any. us$ are widely accepted at both the resorts and for shopping. if you want pesos use an atm and know the exchange rate.