Roberta Aguirre
If you're travelling to Cancun, you may be wondering how and where to exchange your currency. Cancun International Airport has a money exchange service in Terminal 2, where you can convert your money into Mexican pesos, the official currency of Cancun. While airport exchanges can be convenient, they may offer unfavourable exchange rates and charge high commissions. It is recommended to use an ATM, exchange currency before your trip, or visit a bank in Cancun, such as Banco Azteca or CiBanco, which tend to offer better exchange rates.
| Characteristics | Values |
|---|---|
| Currency exchange at Cancun Airport | Available |
| Best option | May not be the best option due to high transaction charges and commissions |
| Alternative options | Using a travel card, exchanging currency at a bank or currency exchange shop before travelling, exchanging currency at a bank in Cancun, exchanging currency at an ATM in Cancun |
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What You'll Learn
Currency exchange rates at the airport
Cancun International Airport has currency exchange services inside and outside the airport, as well as ATMs, hotels, and local banks. The official currency of Mexico is the Mexican Peso, but the US Dollar is also accepted in some tourist destinations like Cancun and the Riviera Maya.
It is recommended to check the actual currency exchange rate before your trip to avoid surprises. The major currencies tend to move +/- 1% in a given day. Some travellers prefer to exchange money in their home country, while others prefer to do it directly in Cancun. If you are exchanging a large amount of money, it may be worth checking with your bank, as they may be able to offer a higher exchange rate.
ATMs are a convenient way to obtain local currency at a reasonable exchange rate. However, transactions may be subject to a fee, so it is important to check with your card issuer before travelling. Different card providers may have varying fee structures.
Some travellers suggest that it is better to exchange money at a bank or ATM in Cancun rather than at the airport, as airport exchanges may have unfavourable exchange rates and high transaction charges. However, using an ATM means you get the current conversion rate and there is no "middle man".
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Using an ATM at the airport
Cancun International Airport has ATMs and money exchange desks in each of its terminals. Terminal 2 houses the only airport bank, Banco Santander, which is located in the national arrivals area along with three ATMs. Terminals 3 and 4 have a convenient currency exchange service operated by CIBanco, where you can convert Mexican pesos to the currency of your choice and vice versa.
ATMs are a convenient way to obtain local currency at a reasonable exchange rate, especially if you don't want to travel with large amounts of cash. However, transactions may be subject to a fee, so it is recommended that you check with your card issuer about the applicable fees before using this service. Different card providers may have varying fee structures. It is also important to note that your bank may block your card if out-of-the-ordinary transactions are detected, so keep your bank's contact information handy. Setting a travel notice with your card issuer can help prevent this.
When using an ATM at the Cancun Airport, it is advisable to decline the Dynamic Currency Conversion (DCC) option. While your transaction will still go through, you will often get a better exchange rate by declining the DCC. Bank-affiliated ATMs at the airport are generally considered safe, and Santander ATMs have been recommended by some travellers. However, it may be difficult to locate these ATMs as they are often placed in departure areas near check-in counters, which may not be easily accessible to arriving international passengers.
If you are exchanging large amounts of currency, banks may be able to offer you a higher exchange rate. It is recommended to use a reputable money exchange service and be aware of any additional fees or commissions that may apply. Some travellers suggest that opening a free account with a bank that reimburses ATM fees, such as Schwab or Fidelity, can be a good option for avoiding high ATM fees in Mexico.
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Exchanging money before arriving at the airport
Cancun Airport offers currency exchange services and ATMs for travellers who need to obtain Mexican pesos. However, it is recommended to exchange money or use an ATM outside the airport, as airport exchanges may offer less favourable rates and charge high transaction fees.
Before arriving at the airport, you can exchange your currency at local exchange shops or banks in your home country. Some travellers suggest that local currency exchange shops sometimes offer better rates than banks, so it is worth comparing rates and reviewing options beforehand. Additionally, using a travel card can eliminate the need for currency exchange, as it can be used directly for transactions in Cancun, although exchange rates will still apply.
If you plan to exchange money before arriving at the airport, it is advisable to notify your bank about your travel plans to avoid potential fees or card freezes for international transactions. It is also important to check the actual currency exchange rates before your trip to make informed decisions and avoid unpleasant surprises.
Exchanging money before arriving at the Cancun Airport can offer benefits in terms of obtaining favourable rates and avoiding unnecessary fees. By comparing options and planning ahead, travellers can make informed choices that align with their preferences and financial goals.
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Currency exchange bureaus at the airport
Currency exchange bureaus can be found inside and outside the airport in Cancun. The official currency of Mexico is the Mexican Peso, but the US Dollar is also accepted in some tourist destinations like Cancun and the Riviera Maya.
In Terminal 2, there is the only airport bank, Banco Santander, located in the national arrivals area, along with three ATMs. In Terminals 3 and 4, there is a convenient currency exchange service operated by CIBanco, where you can convert Mexican Pesos to the currency of your choice and vice versa.
ATMs are also available at the airport and in Cancun more generally, which may offer a better exchange rate than the airport exchange bureaus. However, it is recommended to notify your bank before travelling, as some banks charge a fee for international transactions or may freeze your card.
If you are exchanging a large amount of money, it may be worth checking with your bank before travelling to see if they can offer a better rate.
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Using a travel card to avoid exchanging currency
Cancun International Airport does offer currency exchange services, but it is recommended to avoid exchanging currency at the airport due to unfavourable exchange rates and high fees. Instead, consider using a travel card, which offers several benefits:
Competitive Exchange Rates
Travel cards often provide competitive exchange rates, allowing you to make the most of your money while abroad. For example, the Travelex Money Card offers competitive exchange rates, and you can use their exchange rate tracker to monitor rates in real time.
Convenience and Security
A travel card eliminates the need to carry large amounts of cash, reducing the risk of loss or theft. Additionally, with a travel card, you can easily access your funds through ATMs or make contactless payments, depending on the card's features. The Travelex Money Card, for instance, offers the convenience of free top-ups and is widely accepted, making it a secure and quick way to spend abroad.
No Foreign Transaction Fees
Many travel cards, such as the Travelex Money Card, do not charge foreign transaction fees, helping you avoid the extra costs associated with traditional currency exchange.
Fraud Protection and Emergency Services
Travel cards often come with additional benefits like fraud protection and emergency card replacement services, providing peace of mind during your trip.
Planning and Budgeting
With a travel card, you can plan and manage your trip expenses more effectively. By loading the card with your desired budget, you can track your spending and avoid the temptation to spend extra cash.
Tips for Using a Travel Card:
- Compare different travel cards to find the one that best suits your needs.
- Notify your bank or card issuer about your travel plans to avoid any unexpected blocks on your card due to fraud alerts.
- Carry multiple payment methods, including at least two different cards from separate banks, as backup in case one card stops working.
- Understand your card's features and any associated fees, such as ATM fees or transaction fees for unsupported currencies.
- Familiarize yourself with local currency values and current exchange rates to ensure you get a fair deal when using your travel card.
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Frequently asked questions
Yes, currency exchange is available at the Cancun airport.
In Terminal 2, there is the airport's only bank, Banco Santander, located in the national arrivals area along with three ATMs. In Terminals 3 and 4, there is a convenient currency exchange service operated by CIBanco, where you can convert Mexican pesos to the currency of your choice and vice versa.
The airport currency exchange may charge higher commissions and offer less favourable exchange rates compared to other options. It is recommended to check with your bank about applicable fees and compare rates before exchanging currency at the airport.
Yes, you can use ATMs at the airport, but be sure to decline their exchange rate offer. You can also exchange currency at banks or local currency exchange shops before your trip or use a travel card that does not charge international fees.
The official currency in Cancun is the Mexican Peso. The exchange rate for the American Dollar to the Mexican Peso is approximately 10:1, but this may fluctuate.
