Ruth Haines
If you're travelling to a country that uses pesos, you may be wondering if you can get them at the airport. While it is possible to exchange currency at the airport, it is generally not recommended due to poor exchange rates and high fees. It is usually more cost-effective to order foreign currency from your bank before you travel or to use your debit card to withdraw local currency from an ATM when you arrive at your destination. Some travellers also suggest using an ATM at a bank branch in the country you're visiting, as these may offer better exchange rates and lower fees than random ATMs on the street. Additionally, some airports have currency exchange kiosks where you can pre-order your desired currency online and then collect it before your flight.
| Characteristics | Values |
|---|---|
| Getting pesos at the airport | Possible through currency exchange offices and airport ATMs |
| Exchange rates at the airport | Unfavorable; airport currency exchanges may charge up to 17% more than the current International Monetary Fund (IMF) exchange rate |
| Recommended options | Ordering currency from your bank before travelling, using a debit card to withdraw pesos at a bank ATM, or exchanging currency at a reputable exchange office or bank in Mexico |
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What You'll Learn
Ordering pesos from your bank before travelling
Most banks allow you to order foreign currencies, which you can typically pick up at a local branch before your trip. Some banks may require you to give advance notice, so it is a good idea to request an appointment ahead of time. Some banks also offer to ship the currency to you, and they may not even charge extra for postage if you order a certain amount. The exchange rates offered by banks are usually quite good, and much better than those at the airport.
If you are in the US and planning to travel to Mexico, you can order pesos from your bank before you leave. This way, you will have the local currency on hand before you depart, which is worth the minuscule fees. You can also use your bank card to withdraw pesos from ATMs in Mexico, but be mindful of any foreign transaction fees.
If you are unable to order pesos from your bank, you can also withdraw pesos from an ATM at a bank in Mexico. It is recommended to use an ATM inside a bank, rather than a random ATM on the street, as these can be tampered with more easily. Any ATM inside a bank in Mexico will be bilingual (Spanish/English). When using an ATM, you might first see a screen offering you exchange rates. If so, that is the Dynamic Currency Conversion (DCC) screen – just decline it and continue with your withdrawal.
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Using an ATM at the airport
Availability of ATMs at Airports
ATMs are widely available at international airports, and you will often find several ATMs just as you exit customs. This makes it convenient to withdraw cash in the local currency upon arrival at your destination. However, it is always a good idea to inform your bank that you will be travelling to avoid any unexpected blocks on your card when trying to withdraw money abroad.
ATM Fees and Exchange Rates
When using an ATM at the airport, it is important to be aware of potential fees and unfavourable exchange rates. Airport ATMs may charge higher fees and offer less favourable exchange rates compared to ATMs located elsewhere. It is recommended to check with your bank about any partnerships they may have with foreign banks, as this could allow you to avoid some ATM fees. Additionally, some banks offer accounts that reimburse ATM fees or provide free foreign transactions, which can be beneficial when travelling.
Dynamic Currency Conversion (DCC)
When using an ATM at the airport or elsewhere, be cautious of Dynamic Currency Conversion (DCC). This is when the ATM offers to convert your money to the local currency at an unfavourable exchange rate, resulting in higher fees. It is recommended to decline this option and let your bank handle the conversion at the current market rate. By doing so, you can avoid paying excessive fees and getting a poor exchange rate.
Withdrawing Larger Amounts
Consider withdrawing larger amounts that will cover a significant portion of your trip to limit the number of ATM transactions. This can help reduce the impact of per-transaction fees and may be more convenient, as ATM availability varies by location. However, be mindful of withdrawal limits imposed by your bank and the amount of cash you feel comfortable carrying.
Safety Considerations
When using an ATM at the airport or in other locations, it is essential to prioritise safety. Be aware of your surroundings and choose ATMs that are in secure areas. Additionally, avoid carrying large amounts of cash and only withdraw what you need for your daily expenses, keeping the rest in a safe place.
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Using an ATM at a bank in Mexico
It is generally recommended to order pesos from your bank before travelling to Mexico, as airport currency exchanges are known to charge excessive fees and offer poor exchange rates. However, if you are unable to do this, you can use an ATM at a bank in Mexico to withdraw pesos.
ATMs can be found in major Mexican airports, big cities, and busy tourist areas, including shopping centres, central plazas, and main streets. Most places that tourists visit will have at least one ATM. However, if you are visiting a rural or remote area, it is recommended to take out cash in advance as ATMs may be hard to find.
When using an ATM in Mexico, it is important to take safety precautions. It is generally safer to use ATMs within bank branches or lobbies, as these are less likely to have been tampered with. You should always inspect the ATM for signs of tampering and shield your PIN to prevent your card from being cloned or used fraudulently.
When withdrawing money from an ATM, you will usually be asked to choose your preferred language and transaction type. You may then be offered the option to convert the transaction into your local currency. It is generally recommended to decline this offer and choose to be charged in the local currency, Mexican pesos (MXN), as this will provide you with a better exchange rate.
Some banks in Mexico are known for being more accommodating to international cardholders, including Santander, Intercam, Banorte, Inbursa, and Banco del Bajío. These banks typically charge lower ATM fees, but you may still incur fees for international card transactions, which can range from 20 to 30 Mexican pesos per transaction.
By following these recommendations, you can safely and effectively use an ATM at a bank in Mexico to withdraw pesos.
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Exchanging USD for pesos at a hotel
Exchanging currency at the airport is generally not recommended due to high currency exchange fees and unfavourable exchange rates.
If you're staying in a hotel, you may be able to exchange USD for pesos at the front desk. However, it's worth noting that resorts and hotels often have poor exchange rates. Therefore, it is recommended that you research and compare the most up-to-date exchange rates to get the best deal. You can use reputable financial websites, such as bank websites or currency conversion services like Western Union, to find this information.
Some travellers prefer to exchange their USD for the local currency at their local bank before travelling, so they have cash for tipping and small purchases. However, this may not always be possible, as some banks require advance notice for currency exchange services. It's also important to note that your bank may not have access to the currency of your destination country due to political or economic restrictions.
If you're unable to obtain pesos before your trip, you can use your debit or credit card to withdraw money from ATMs at your destination. Using a debit card to withdraw local currency from a bank ATM can get you a good exchange rate, but be mindful of any ATM fees and other charges from your bank. It's also recommended that you notify your bank about your travel plans to avoid any issues with your card while abroad.
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Using a currency exchange office
Currency exchange offices at the airport are convenient, but they may charge higher fees and offer less favourable exchange rates compared to other options. Some sources suggest avoiding airport currency exchange services due to these unfavourable rates and additional commissions.
However, if you need to exchange currency at the airport, there are a few things to keep in mind. First, it is essential to be aware of the current exchange rates and any additional fees charged by the airport exchange office. You can research the latest exchange rates through reputable financial websites, banks, or currency conversion services. Knowing the current rates can help you understand if the airport exchange office is offering a fair deal.
It is also a good idea to have some local currency before your trip, especially if you need to pay for transportation or make small purchases immediately after landing. You can order foreign currency from your bank or a currency exchange service and pick it up before your trip. This option often provides better exchange rates and lower fees than airport exchanges.
Additionally, when using a currency exchange office at the airport, be mindful of potential dynamic currency conversion (DCC) screens at the ATM, which offer an exchange rate that is often less favourable. You usually have the option to decline this rate and proceed with your withdrawal without accepting the DCC.
Lastly, if you have time before your trip, consider comparing rates and services offered by different currency exchange offices, both at the airport and in the city you're departing from. This comparison will help you find the most cost-effective option and ensure you have the necessary funds in the local currency for your trip.
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Frequently asked questions
Yes, you can get pesos at the airport. However, it is not recommended due to poor exchange rates and additional fees.
You can get pesos from your bank before arriving at the airport. You can order foreign currency from your bank and pick it up at a local branch.
Reputable currency exchange services include licensed banks, exchange bureaus, and reliable online platforms. Western Union, for example, utilizes the latest fraud protection technologies to secure your transactions.
It is important to research and compare the most up-to-date exchange rates to get the best deal. Banks and exchange services also typically charge fees for exchanging currency, so it is good to be aware of any additional costs.
Yes, you can use your debit card to withdraw pesos directly from ATMs in Mexico. This way, you can get a good exchange rate without having to carry large amounts of cash.
