Owais Crawford
If you're travelling to Mexico, you'll need to exchange your US dollars for Mexican pesos. While some places in Mexico may accept US dollars, this is not the case in Mexico City, where you'll need to pay in pesos. There are several options for exchanging your dollars for pesos, including at the airport, at a bank, or at an ATM. It's worth shopping around for the best exchange rate, as some places may offer better rates than the international exchange rate. You can also use your debit card to withdraw pesos from local ATMs, but be aware that there may be fees involved.
| Characteristics | Values |
|---|---|
| Currency exchange offices in Mexico City Airport | There are a large number of exchange offices inside the airport. |
| Exchange rates | The exchange offices at the airport usually offer the best exchange rates. |
| Currency exchange outside the airport | Local exchange houses, known as Casas de Cambio, tend to offer the best rates. |
| Currency exchange in tourist areas | Currency exchange booths in touristy parts of Mexico may offer less competitive rates than the airport. |
| Using US Dollars in Mexico City | US Dollars are not commonly accepted in Mexico City. It is recommended to exchange currency for Mexican pesos. |
| Using ATMs | ATMs in Mexico charge a fee for withdrawing money. It is recommended to check with your bank about any fees or daily limits on cash withdrawals. |
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What You'll Learn
Currency exchange booths at Mexico City Airport offer competitive rates
Mexico City Airport has a large number of currency exchange offices inside the airport. While it is possible to use US dollars in some tourist areas of Mexico, such as Tijuana or Cancun, in Mexico City, you need to pay in pesos. Therefore, it is recommended to exchange your dollars for pesos at your US bank before travelling or at the airport upon arrival.
Some sources suggest that the best exchange rates can be found at local exchange houses, known as Casas de Cambio, rather than at the airport. However, others claim that the airport offers the best rates, especially when compared to tourist hotspots, which tend to offer the least attractive rates. It is also possible to withdraw pesos from ATMs in Mexico using a foreign debit card, but be aware that ATMs in Mexico will charge a fee for withdrawing money, and your bank may also charge an additional fee for international transactions.
Therefore, if you are looking for a convenient and competitive exchange rate, currency exchange booths at Mexico City Airport are a good option. However, if you are willing to shop around, you may find even better rates at some local exchange houses in the city.
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Exchange rates vary across the airport, so shop around
When exchanging currency, it's always a good idea to shop around for the best exchange rate. Exchange rates at Mexico City Airport vary, so it's worth doing some research and comparing rates before you arrive. There are a large number of exchange offices inside the airport, and you don't need to change your money at the first place you see.
Some sources suggest that the airport will offer you the best exchange rate, while others advise against exchanging money there. One source recommends Banco Azteca as a cheaper alternative to the airport, while another suggests that exchange houses in the city, known as Casas de Cambio, tend to offer the best rates.
If you have time, it might be worth checking out a few different options, including banks and ATMs, before making a decision. You can also check Google Reviews to get an idea of the rates and fees offered by different money changers and to avoid any hidden fees or shady spots.
ATMs in Mexico will charge you a fee for withdrawing money, and if your credit or debit card also charges a fee, you'll end up paying double. It's a good idea to check with your bank about any fees or daily limits on cash withdrawals before you travel.
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ATMs in Mexico charge a fee for withdrawals
While it is possible to use US dollars in Mexico City Airport, it is always a good idea to have some local currency on hand. Mexican pesos can be obtained through currency exchange booths at the airport, or by withdrawing from an ATM using a debit card.
ATMs in Mexico typically charge a fee for withdrawals, which can vary depending on the bank or ATM operator. These fees can range from 20 to 109 MXN (approximately £0.93 to £5 GBP). Some banks, such as HSBC, may offer deals for customers to use their ATMs in Mexico without incurring additional charges. It is worth checking with your home bank to see if they have any partnerships with local banks in Mexico, as this could result in discounted or free withdrawals.
It is generally advised to avoid using credit cards for ATM withdrawals, as these can accrue interest immediately and result in higher fees. Instead, using a debit card is recommended. Additionally, it is suggested to choose to withdraw money in the local currency, rather than converting it into your home currency, as this can result in a less favourable exchange rate.
Some of the banks in Mexico with the lowest ATM fees include Banca Mifel (26.68 MXN), BanCoppel (29 MXN), and Banamex (30.74 MXN). On the other hand, banks with higher fees include Multiva (67.28 MXN), HSBC (74.24 MXN), and Banorte (58 MXN).
It is important to be mindful of the withdrawal limits imposed by Mexican banks and your home bank. In Mexico, the withdrawal limit per transaction typically ranges from 4,000 to 11,000 pesos. However, your home bank's daily withdrawal limit will also apply, so it is essential to check this information before travelling.
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Some vendors and stores may not accept large peso notes
While it is possible to use US dollars in some places in Mexico, it is not recommended to rely on this. In Mexico City, you will need to pay in pesos.
If you are travelling to Mexico, it is a good idea to exchange your currency for pesos before you arrive or at the airport. You can do this at a currency exchange booth or by withdrawing pesos from an ATM using a debit card linked to a foreign account.
If you choose to exchange your dollars for pesos at the airport, be aware that you may not get the best rate. It is worth shopping around at various exchange houses, as some may offer better rates than the international exchange rate. However, the exchange booths at the Mexico City airport tend to offer the most competitive rates compared to those in tourist hotspots. It is also recommended to avoid exchanging money at the first booth you see, as moving around within the airport can help you find a better rate.
Once you have your pesos, be mindful that some vendors and stores may not accept large peso notes. For example, many Oxxo stores will not accept a 200-peso bill for a low-cost item. Therefore, it is advisable to break down large notes into smaller denominations when exchanging currency or withdrawing from an ATM. This can be done by requesting smaller bills and coins from a bank teller or ATM.
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US dollars are not widely accepted in Mexico City
While it is possible to use US dollars in Mexico City Airport, it is not recommended as you will need Mexican pesos to pay for most goods and services in Mexico City.
ATMs in Mexico will charge a fee for withdrawing money, and if your credit or debit card also charges a fee for international transactions, you will pay double fees. It is a good idea to check with your bank about any daily limits it may impose on cash withdrawals.
If you plan to exchange cash, it is recommended to bring smaller bills, as some vendors may be reluctant to accept large denomination notes.
If you have a bank account in Mexico, you can also transfer money from your foreign bank account and have it converted into Mexican pesos. This can be an efficient way to transfer larger sums and avoid ATM fees.
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Frequently asked questions
No, you cannot use US dollars in Mexico City Airport. You will need to exchange your dollars for Mexican pesos.
There are numerous currency exchange booths located inside the airport, after immigration.
Yes, you can use your debit card to withdraw pesos from ATMs in Mexico. However, be aware that there may be fees for withdrawing cash.
Exchange rates at the airport are typically better than those on the street. However, some people suggest shopping around at various exchange houses, as they may offer better rates than the international exchange rate.
It is recommended to get smaller bills as some vendors may not accept larger bills, such as 100 or 200 pesos.
