Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify?

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melodycmp
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2017/05/09 23:14:00 (permalink)
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Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify?

My daughter's friend's mother is a travel agent and has told her daughter that some of Mexico is not accepting USD at the moment..should we worry about that at all? We are Akumal bound in 12 days..mainly the money we spend will be on tips, Yal Ku, Tulum and La Buena Vida...I have never exchanged money in the 10+ years I have been traveling there...
Thank you in advance for your recent experiences down there!
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    crunch
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/10 06:43:47 (permalink)
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    Wow.  I have not heard that at all and i am on several Mexico forums daily.

     



     

    Nothing wrong with me that a margarita on the beach wouldn't fix.......................
    #2
    pato
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/10 08:39:54 (permalink)
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    I heard this rumor months ago and there was no validity to it then and doubt there is any now. Too much of Q. Roo's business is dollar based and the US dollar is still highly desired there.
    That being said you will get a better value by converting your dollars to pesos...nearly a 20% savings.
    #3
    melodycmp
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/10 10:12:47 (permalink)
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    Thank you! I guess I worry about converting then not understanding how much I am spending lol I guess when my niece went down there last year a grocery store and a couple of restaurants refused usd. I had just never experienced that at all! She doesn't remember where they were though when that happened and I believe her husband's family lives a little inland..What if you use a credit card that has no foreign transaction fees? Do you still save 20%?
    Thank you!
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    pato
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/10 14:06:48 (permalink)
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    The savings depend on what exchange rate the shop or restaurant or taxi is using for the dollar to peso conversion. Today's rate is 19 pesos to a dollar and most places will NOT give you that good a rate. But some, like Mega, do give close to that rate so use your no fee CC or US dollars where you get 19 pesos (or better) to 1 dollar.
    The lower the peso to dollar rate the shop is giving you (like 10, 12 or even 16) the more savings you get paying in pesos.
    Don't worry....just have fun! :)
    #5
    el gran chico
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/11 11:12:48 (permalink)
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    Don't believe everything you read on the internet!  You did well to ask here because this forum is a really good source for accurate info.
     
    I've seen lots of cases of discussion of "really bad exchange rate for US$" morphs into "don't use US$" which morphs into "can't use US$". 
     

    Returning to Mexico Mar 13, 2018 [18th trip to MEX, 14x to RM (1998 to 2018), 9x to HMB (2006 to 2016)]
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    melodycmp
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/11 11:53:10 (permalink)
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    We are traveling with a group of 17 down to Grand Sirenis Resort On May 21st for a week...I have never ran into an issue with using USD and honestly was not worried about it at all..then one of the girls that is going asks what she should do because her mom is a travel agent and told her that because of the tension between the US and Mexico a lot of places will not accept USD down there now...I always tip in USD and so my first thought was there is no way a worker will refuse a US dollar (or 5) whatever lol That would be Crazy! I thought her mom was pretty off base..but then I guess it actually has happened in a few places down there last year but in grocery stores and restaurants..ok then we don't shop/eat there or we use our card. Problem solved.  I am fascinated though on saving money using pesos...It seems like the exchange rate should be the same across the board. So weird that the different establishments can decide what they are charging! 
     
    Thank you everyone that has responded!  I have always loved Loco Gringo and their Forums!
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    sealex
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/11 18:08:26 (permalink)
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    A few years back Mexico started tightening their currency laws for businesses. They put limits on how much a business could exchange ,USD into pesos, to try to reduce money laundering from drug trafficers. Most businesses will take USDcash as long as it is not a large amount and they can usually vary their USD deposits at the bank. But for some smaller businesses it is more difficult. To discourage USD they might have a lousy exchange. Also, I have noticed that a lot of maids and gardeners will hold their dollars from tips and then wait until their "manager" can exchange them so they don't have to pay an exchange fee at a Cambio. We just either get pesos before we leave home or use the ATM to get pesos.
    post edited by sealex - 2017/05/11 19:31:59
    #8
    Whale
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/12 18:38:46 (permalink)
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    Money is money, dollars are pesos and pesos are dollars.  Very few if any people down there will refuse money no matter what is going on in politics. Especially in the Riviera Maya. That would be like somebody saying I am going to close down my entire business because some foreigners shop there. Ain't gonna happen. They may try to stick you with a terrible exchange rate but beat them to the punch by getting a bunch of pesos in a bank or from an ATM. See how fast they take those from your hand. 


    "Don't listen to what they say. Go see." ~ Chinese proverb
    "When you see, you will know" ~ Old Thurman proverb

    #9
    Xelly
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/15 09:59:01 (permalink)
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    Just got back...i spent almost $900 USD and not one establishment balked at my payment method. Got 1000 PESOS FOR $56.60 usd at the bank in Tulum.

     
    To give anything less than your best, is to sacrifice the gift.
    Steve Prefontaine
     
    #10
    el gran chico
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/15 14:56:11 (permalink)
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    It seems like the exchange rate should be the same across the board

     
    It doesn't work that way in currency markets.   More like pricing of a carton of eggs.   Store A wants one price, store B another price, etc.    In theory, market forces should keep the rates somewhat close but in reality the theory might not hold.
     
    I've seen places around home in Toronto, that either do not accept US$, exchange it 1:1 with Canadian$, or give somewhere around 1.30 Cdn.  It's up to the owner.  If the customer doesn't like it, he/she can shop elsewhere.

    Returning to Mexico Mar 13, 2018 [18th trip to MEX, 14x to RM (1998 to 2018), 9x to HMB (2006 to 2016)]
    #11
    crunch
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/15 18:23:15 (permalink)
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    All good on Cozumel.  Accepting dollars and pesos graciously.

     



     

    Nothing wrong with me that a margarita on the beach wouldn't fix.......................
    #12
    melodycmp
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/18 17:16:18 (permalink)
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    Thanks everyone for all the replies! I really don't see us spending that much more down there..I have all of our excursions booked etc already..renting cars..I just think it's amusing all the "advice" random people give you..98% of the people we are going with have never been down there so they are all nervous and asking people tons of questions I am sure. We have the great peso debate and now they are scared to rent cars because "people" have told them how dangerous it is etc etc..sigh...This will be trip # 9 for me to Akumal..and I have never had any issues besides one time being stopped at some makeshift check point and had to pay like $35 because the BF wasn't wearing his seat belt....soo ok wear your seat belt from now on. Live and learn :)
    #13
    wheres waldo
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/20 16:47:16 (permalink)
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    Use pesos your not in Kansas any more its called Mexico for a reason.

    Heres to those who wish us well all the rest can go to he??



    #14
    dougdnh
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/05/22 09:54:22 (permalink)
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    I'm not sure what the big issue is. Just go to an ATM and withdraw pesos. The ATM's used by the locals (like the ones at supermarkets and Wal Marts) charge a much lower fee than the ones in touristy spots. If you're using USD, you're getting ripped off. You can do well using your credit card especially if it's one that doesn't charge a foreign transaction fee. 
    #15
    diana1
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/06/19 02:01:05 (permalink)
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    I found the same question from another forum board. In that board, I found that a restaurant owner mentioning that he haven't got any notice regarding $ restriction issue and It was since 2010. I think still there no such big issue announced. One of my friends confirmed same from a travel agency as "NASTTRANSFERS". 
    #16
    bassguy66
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    Re: Hearing a rumor that USD is not being accepted in Cancun..can someone please clarify? 2017/06/19 15:59:10 (permalink)
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    melodycmp
    one of the girls that is going asks what she should do because her mom is a travel agent and told her that because of the tension between the US and Mexico a lot of places will not accept USD down there now...


    This travel agent does not seem very well informed, just sayin.




    #17
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