Roberta Aguirre
If you're travelling from Australia to Mexico, you'll need to exchange your Australian dollars for Mexican pesos. While it's possible to use a credit or debit card in Mexico, many places, especially smaller towns and villages, only accept cash. You can exchange Australian dollars for pesos at currency exchange offices, at the airport, or online. It's also possible to use your card and have the bank make the exchange for each purchase, but this will incur fees. Exchange booths at Mexican airports offer good exchange rates and hold stocks of all major world currencies, so it's likely you can exchange Australian dollars at Mexico City Airport.
| Characteristics | Values |
|---|---|
| Can you exchange AUD at Mexico City Airport? | Yes, but it is not guaranteed. |
| Recommended | No, exchange rates at the airport are less competitive. |
| Best place to exchange currency | Local exchange houses, known as Casas de Cambio. |
| Payment methods | Cash, debit card, credit card, prepaid debit card, traveller's cheques. |
| Cash | No limit on the amount of currency you can bring into Mexico. |
| Cash amounts over 10,000 AUD | Must be declared to Mexican customs. |
| Using a card | Ensure it is enabled for international use. |
| Using a card | Check with your bank about any daily limits on withdrawals. |
| Using a card | Your bank will convert the purchase amount from MXN to AUD, applying a fee. |
| Using a card | You will be charged at least twice when using a foreign card in an ATM: once for using the machine abroad, and once for the currency exchange fee. |
| Using a card | Some banks are subject to a fee for use abroad, or may freeze your card for foreign transactions. |
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What You'll Learn
Currency exchange at Mexico City Airport
Currency exchange is available at Mexico City Airport, and it is likely that you will be able to exchange Australian dollars for Mexican pesos. However, it is worth noting that AUD is not listed as a currency that is commonly exchangeable at kiosks in Mexico, so you may need to ask at the counter.
Mexico's economy is largely cash-based, and many goods and services must be paid for in Mexican pesos, especially in smaller towns and villages. It is recommended to exchange your currency for pesos before travelling to Mexico, as the rates in your home country may be less competitive. However, if you choose to exchange your money upon arrival at Mexico City Airport, there are a few options available to you.
You can exchange your currency at one of the airport's exchange booths, which typically offer good rates when selling pesos and hold stocks of all major world currencies. Alternatively, you can use an ATM to withdraw pesos directly from your foreign bank account. However, keep in mind that ATMs in Mexico will charge you a fee for withdrawing money, and your bank may also charge an additional fee for using your card internationally.
If you do not wish to carry large amounts of cash, you can use your credit or debit card for purchases in Mexico. However, be aware that cards are not widely accepted outside of hotels and restaurants, and you may encounter issues in markets or other areas that primarily accept cash. Additionally, your bank will apply a fee for each purchase, and you may not know the total amount spent until you return home. Therefore, it is advisable to carry some cash in Mexican pesos to cover initial expenses such as transportation and meals.
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AUD exchange rates
If you're travelling from Australia to Mexico, you'll need to exchange your Australian dollars for Mexican pesos (MXN), as this is Mexico's official currency.
You might be able to exchange your Australian dollars at Mexico City Airport, but it's not guaranteed. While currency exchange is common at most major airports, AUD is not a currency that is commonly exchanged in Mexico. One source suggests that you may find a booth at the airport that will exchange AUD, but you'll have to ask at the counter.
It is generally recommended to exchange your money once you're in Mexico, as exchange rates tend to be more attractive, and the commission charges are low or non-existent. Exchange houses, known as 'Casas de Cambio', tend to offer the best rates and straightforward procedures for exchanging money. The ones at Mexico City Airport offer competitive rates, but those situated in tourist hotspots offer less attractive rates.
If you're travelling to Cancun, you can find currency exchange locations inside and outside the airport, as well as ATMs, hotels, and local banks. However, one source recommends obtaining currency from outside the airport, as better rates are often available.
If you plan to use your card, make sure it's enabled for international use, as your bank will apply a fee for each purchase, converting the amount from Mexican pesos to Australian dollars.
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Exchanging AUD for MXN in Australia
If you're looking to exchange Australian dollars (AUD) for Mexican pesos (MXN) in Australia, there are several options available to you. Firstly, you can compare exchange rates at different banks and exchange houses and choose the most favourable rate. Banks and exchange offices are likely to charge a commission for exchanging currency, so it's worth shopping around to find the best deal.
Another option is to use an online service such as Western Union or Revolut, which allow you to transfer money between currencies online or via an app. These services often offer competitive exchange rates and low fees, but be sure to check the terms and conditions carefully.
You can also exchange currency at the airport, although the rates may not be as favourable as those found elsewhere. If you're planning to carry cash exceeding AUD 10,000 or its equivalent in another currency, remember to declare it to Mexican customs upon arrival.
It's worth noting that Mexico's economy is still heavily cash-based, and many goods and services must be paid for in cash, especially in smaller towns and villages. Therefore, it's advisable to have some Mexican pesos with you before you arrive in Mexico to cover initial expenses such as transport, meals, and small purchases.
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Using ATMs in Mexico
Mexico's banking system is modern and extensive, and ATMs, or "Cajeros Automáticos", are widely available throughout the country. They provide a convenient way to obtain cash in Mexican pesos, which is the local currency.
It is important to note that Australian dollars are not commonly accepted in Mexico, and payments in this currency are usually not accepted in most establishments. Although some hotels, restaurants, or local guides/taxis in very touristy areas may accept Australian dollars, the exchange rate offered will likely be unfavourable. Therefore, it is recommended to exchange your Australian dollars for Mexican pesos before your trip or upon arrival in Mexico.
When using ATMs in Mexico, there are a few things to keep in mind:
- Check with your bank or card issuer to ensure your card will work in Mexican ATMs, and have a backup method of obtaining cash in case of emergencies.
- Be aware of any additional fees or withdrawal limits. Some banks may impose daily, monthly, or transaction limits, so it is best to check with your bank before your trip.
- The most cost-effective ATMs to use are those owned by large banks, such as Banamex, Banco Santander, Banorte, and HSBC. Smaller vendors may charge higher fees for transactions.
- Choose to be charged in pesos instead of your home currency to avoid scams and save money.
- Withdraw larger amounts of cash at once to avoid frequent ATM fees.
- Be aware of your surroundings when using ATMs, as petty theft can be a problem in large cities. Avoid withdrawing or carrying large amounts of money, and keep your cash securely stored.
It is also worth noting that some banks, such as HSBC and Citigroup, offer free ATM withdrawals for their customers at their branches in Mexico. Additionally, if you bank with a global institution, there may be a partnership with a Mexican bank that could allow you to avoid some ATM fees. For example, Wells Fargo has a business relationship with BBVA Bancomer Mexico, and Citigroup customers can withdraw from Banamex ATMs for free.
Overall, using ATMs in Mexico can be a convenient and cost-effective way to obtain Mexican pesos, but it is important to be mindful of potential fees and withdrawal limits.
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Credit card fees
Credit cards are widely accepted in Mexico, especially in larger cities and tourist destinations. Visa, MasterCard, and American Express are the most commonly accepted credit cards in the country. However, credit card fees can add up quickly, especially when withdrawing cash from ATMs.
ATMs in Mexico typically charge a fee for withdrawals, and if your credit card company also charges a fee for international transactions, you may end up paying double fees. These fees can vary, but they typically range from 2.5% to 3.5% of the transaction amount. Some ATMs may also charge an additional exchange fee on top of the withdrawal fee. Furthermore, many banks and credit card companies charge foreign transaction fees, typically around 1% of the transaction amount, for every purchase made abroad.
To avoid excessive fees, it is recommended to use a debit card instead of a credit card for ATM withdrawals. It is also advisable to notify your bank before travelling to Mexico to avoid any unexpected charges or card blocks. Additionally, using your credit card for larger purchases may result in smaller fees compared to multiple smaller cash transactions.
While credit cards are convenient, it is important to be aware of the potential fees associated with their use in Mexico. Carrying a mix of cash and using ATMs can help minimise these fees and ensure a more cost-effective trip.
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Frequently asked questions
Yes, you may be able to exchange Australian dollars at Mexico City Airport. However, it is not guaranteed, and you may have to ask at the counter.
You can exchange Australian dollars at banks, currency exchange offices, and local exchange houses, known as Casas de Cambio.
It is generally recommended to exchange a small amount of money in your home country to cover initial expenses and then find the best exchange rate in Mexico. Exchange rates in Mexico are attractive, and commission charges are usually non-existent or low.
Yes, you can use your card in Mexico, but it is not advisable as many places, especially markets or non-touristy areas, only accept cash. If you do use your card, make sure it is enabled for international use, and be aware that your bank will apply a fee for each purchase.
The official currency in Mexico is the Mexican Peso. Some tourist destinations, such as Cancun and the Riviera Maya, may also accept US dollars.
