Do you need pesos in Cancun? Cancun coin guide for 2023 (2023)

Are you traveling to Cancun soon and want to know if you need pesos for your trip? You've come to the right guide!

I'm a travel blogger wholives in Playa del Carmen, south of Cancun, and I'm here to answer all your questions about currency in Cancun and the best ways to pay during your trip.

In this post I will explainwhether or not you need pesos in Cancun, as well as answering some common FAQs about currency, payment options, ATMs, and tipping customs.

Plus, I'll share some savings tips for travelers who want to get the most bang for their buck in Cancun.

Trying to navigate the currency in a foreign country can be challenging, but with these tips and tricks, you'll be able to save money and get so much more out of your trip to Cancun!

Ready to find out if you need pesos in Cancun? Let's start!

Do you need pesos in Cancun?

Not necessarily. US dollars are accepted almost everywhere in Cancun, so it's possible to do without pesos.

However, if you want to get the best bang for your buck and save money on your trip, it's a good idea to use weights.

This is because you will almost always get a better exchange rate when using Mexican Pesos compared to US Dollars.

Paying in pesos can actually save you quite a bit, considering you'll lose quite a bit of money on the conversion fee on every transaction you make in Cancun.

Think of all the potential transactions you could make while on vacation, from food and drinks, taxis and transport costs, souvenirs and activities – all these additional expenses can add up quickly!

Also, it's a good idea to have some pesos on hand if you plan on leaving Cancun's Hotel Zone and main tourist areas and exploring areas outside of Cancun.

In less touristy areas, it's always easier to pay for things in pesos rather than having to deal with complicated currency conversions.

Official currency in Cancun Mexico

Here's what you should know about using the official currency in Mexico:

What is the official currency in Cancun?

The official currency in Cancun is the Mexican Peso (MXN). Most things will be priced in pesos, whether you're shopping or dining in restaurants.

However, as Cancun is such a popular tourist destination with Americans, virtually all establishments also accept US dollars.

The MXN-USD exchange rate fluctuates daily, but has been hovering around 20 pesos to the dollar in recent years.

👉 Check official MXN-USD conversion rate byclicking here!

Easy Weights for USD Currency Conversion Trick

If you're not familiar with paying in pesos, it can be confusing to figure out exactly how much you're spending.

However, there is a simple trick to easily convert your pesos into dollars in your head – just take a zero and divide the item's price by 2!

For example, if something is $500 pesos, you would take a zero ($50) and divide the amount by 2 to arrive at a value of around $25 USD.

Obviously, this isn't an exact amount, but it will give you a rough estimate of how much an item costs, which can help you control your budget and spending.

Alternatively, you can get the calculator on your phone or use acurrency converter appto get the exact value.

💵Easy MXN-USD Currency Conversion Trick:Take a zero and divide by 2!

mexican peso notes

Here is an approximate conversion from USD to Mexican Peso banknotes to give you an idea of ​​what the money is worth:

• $10 peso coin= ~$,50 USD
• $50 pesos note= ~ $ 2,50 USD
• 100 peso note= ~$5 dollars
• 200 peso note= ~ $ 10 USD
• $500 pesos note= ~ $ 25 USD
• $1000 pesos note=~$ 50 USD

Does Cancun accept US Dollars?

Yes, US dollars are accepted almost everywhere in Cancún, from restaurants and bars to shops and hotels.

Although dollars are accepted in Cancun, you'll get the best exchange rate using pesos.

If you choose to pay in dollars, you will be subject to the exchange rate chosen by the establishment, which is usually worse than the official exchange rate.

How to get pesos to Cancun

Here's where to get pesos in Cancun:

Withdraw money from the ATM as soon as you arrive

The best way to get pesos in Cancun is to simply withdraw cash from an ATM once you arrive. You can find ATMs in most major tourist areas or even at the Cancún airport upon landing.

While your bank may charge a fee for withdrawing cash from foreign ATMs, it will typically be cheaper compared to using foreign exchange services or a commission-based currency exchange counter.

Scroll to the next section for more information on using ATMs in Cancun!

Order pesos from your bank before you arrive

If you're someone who likes to plan ahead and have everything ready before you travel, consider asking your bank for pesos before you leave for Cancun.

While this option costs a little more than simply withdrawing cash when you arrive in Mexico, it's still cheaper than exchanging currency in Cancun when you arrive.

Plus, you won't have to deal with looking for an ATM once you get there, which can add stress to your vacation.

Most banks have the option of ordering foreign currency online or via a mobile app, but it typically takes 1-3 business days for delivery.

Exchange USD for pesos at the Cancun airport or exchange office

The last option to get pesos in Cancun is to exchange US dollars for pesos at the Cancun airport or at an exchange office.

While this is the most convenient way to gain weights, it is typically the most expensive option.

You'll have access to cash right away, but exchange counters at Cancun Airport generally have some of the highest conversion rates.

And even off-airport exchange offices often charge extra for their services, so it's best to avoid this route if possible.

Be sure to check the current exchange rate before deciding whether or not this is the best option for you.

Using ATMs in Cancun

Here are some tips for withdrawing money from ATMs in Cancun:

Best ATMs in Cancun

When using ATMs in Cancun, avoid using any random ATMs on the street.

You can find random ATMs in major tourist areas, but they're known to have skimmers and hackers that can drain your bank account if you're not careful.

Instead, be sure to use more official ATMs directly at a bank or in places like supermarkets or malls for maximum security. You can even find bank ATMs at many Oxxo convenience stores.

The most popular banks and ATMs in Cancun include:

• Banamex
• Banorte
• BBVA Bancomer
• CIBanco
• exchange
• Santander
• Scotiabank (in partnership with Bank of America)

Bank Partnerships

Before your trip, it's a good idea to check with your bank to see if they have any partnerships with banks in Mexico.

Many large banks such asBank of America, have banking partnerships with foreign banks, which means you can avoid usage or transaction fees if you use an ATM from one of these partner banks.

If your bank has a partnership with a Mexican bank, you will likely be able to withdraw money without a usage fee.

However, there is normally still an international withdrawal fee which is a small percentage of the total withdrawal amount.

For example,Bank of Americahas partnership withScotiabankIn Mexico. This means you can withdraw money from a Scotiabank ATM in Mexico and avoid a $5 usage fee.

However, you will still be charged 3% of the amount converted to US Dollars that you are withdrawing.

ATM withdrawal fees

When withdrawing money from ATMs in Mexico, you will likely be charged a usage fee and/or an international transaction fee which will be a small percentage of the total amount you withdraw.

Let's say you're a Bank of America customer and you have to withdraw $2,000 pesos from a Scotiabank ATM in Mexico.

Here is an example of cost sharing:

• Usage fee: $5 USD (dispensed) = $0 USD
• Currency conversion:$2000 MXN at BOA conversion rate (0.0484) = $96.80 USD
• International transaction fee:US$ 96,80 x 3% = US$ 2,90
• Total amount for this withdrawal: US$ 99,70

If you didn't use a Scotiabank ATM, you would be charged an additional $5 usage fee. This can add up depending on how many times you visit the ATM!

ATM Conversion Rates

If there's one thing to remember about using ATMs in Mexico, it'salways recusedthe conversion rate offered by the ATM.

When withdrawing money, you will be asked to accept or decline the conversion rate offered by the ATM –click DECLINE!

ATMs always offer terrible exchange rates, which are much higher than what you would get from your bank.

Upon hitting the decline, your bank will automatically charge you the standard conversion rate, which is usually a much better deal.

Do you need pesos for an all inclusive in Cancun?

No, if you don't plan on leaving the resort, you don't need pesos for an all inclusive in Cancún.

Additional resort purchases can be made using the credit card attached to your room reservation and gratuities can be made in US Dollars.

However, if you plan on leaving your Cancun resort or would like to have some local currency on hand for smaller purchases, it's a good idea to get a small amount of pesos in advance of your trip.

Also, there are many ATMs in Cancun where you can easily withdraw cash if needed.

🏝 Related Reading:Where to stay in Cancun

Is it better to change money in Cancún?

No, it's not always best to exchange money in Cancun – the best way to get the most value for your money is to use an ATM.

ATMs in Mexico generally offer much better rates for currency conversion than you might find at a Mexican exchange booth, so be sure to withdraw cash directly from an ATM.

Currency exchange booths are available to exchange money quickly, but will be the most expensive option for currency conversion.

Can you use a credit card in Cancun?

Yes, you can use a credit card in Cancun for purchases at larger establishments such as restaurants, shops and hotels.

You'll want to use a credit card with no foreign transaction fees to get the best value. Generally, Visa, American Express and Mastercard are accepted.

💳 I personally use and recommend theChase Sapphire Favoritecard, which has no foreign transaction fees and great perks for international travel.

Always use a credit card rather than a debit card, as debit cards often have a foreign transaction fee for every purchase.

However, it's important to note that some smaller businesses only accept cash, as there is often a fee associated with using credit cards.

For example, you will need money to pay for taxis, souvenir stalls, street vendors and local food stalls.

Additionally, some places (like spas or salons) may also charge an additional fee if you are paying with a credit card – ask ahead of time if your purchase will cost more with a credit card.

In general, most major credit cards will work in Cancun, but it's best to come prepared with cash and at least one credit or debit card just in case.

Tip in Cancun

Here are some guidelines on how to tip in Cancun:

Gratuities at all-inclusive resorts in Cancun

tip inall inclusive resorts in cancunit's not mandatory, but it's always appreciated.

If you receive excellent service, feel free to leave an additional tip for waiters, bartenders, entertainment staff or housekeeping.

There is no standard amount for a tip at an all-inclusive resort, but whatever you feel is reasonable for the level of service received.

And if you want to have the best service during your trip, it's not a bad idea to start the week by tipping extra to ensure the same high level of service throughout your stay.

Tips at restaurants in Cancun

As a general rule, it is recommended to leave 10-15% of the total bill as a tip for restaurant waiters when dining in Mexico. Of course, higher tips are expected in major tourist destinations like Cancun.

When paying with a credit card at a restaurant, the waiter usually brings the credit card machine to your table, where you are asked for the tip amount.

You can just say 15% (or whatever percentage you want) and that amount will automatically be added to your bill, so you don't have to worry about calculating the tip amount.

It's also important to know that automatic tips are illegal in Cancun, but some restaurants still choose to add them anyway. Always be sure to review the account carefully for any unexpected charges.

Tips for Taxi Drivers in Cancun

It's not common practice to tip taxi drivers in Cancún, so you'll feel comfortable only paying the exact fare.

However, if you're feeling generous or if the driver helped with your luggage or went out of their way to get you to your destination faster, you can leave a small tip.

Tipping Tour Guides in Cancun

It is expected to tip guides and drivers in Cancun, and tips generally range from 5-10% of the total cost of the tour.

If you think your guide went above and beyond during your Cancun orriviera maya tour, it's okay to tip a little more at your discretion. Many tour guides make their living with tips, so they will be grateful for your generosity.

You'll want to have cash on hand for tips when taking a tour, and tips can be paid in either pesos or US dollars.

Cancun Travel Tips to Save Money

Want to save money on your trip to Cancun? Here are some Cancun tips to help you keep costs down:

• When you have the option, pay in pesos:When paying at restaurants or stores in Cancún, you will likely have the option of paying in pesos or US dollars (even when paying with a credit card). Always choose pesos as you will get a better exchange rate.

• Decline the currency conversion fee at the ATM:When withdrawing money from an ATM, you will be asked if you want to accept the ATM's currency conversion rate. Always decline this option and instead you will be charged your bank's official exchange rate.

• Use a credit card instead of a debit card:If you're going to pay by card, it's best to use a credit card instead of a debit card. Many travel credit cards, such asChase Sapphire Favoritecard has no foreign transactions, so you'll save money on expensive currency conversion fees on your debit card. Also, credit cards typically have better protections if something goes wrong with your purchase.

• Check with your bank if they have any partnerships with banks in Mexico:If your bank has a partnership with a Mexican bank, you can likely avoid additional ATM fees when using your debit card to withdraw money in Mexico.

• Use only official bank ATMs:Do your best to avoid using non-bank ATMs as they are often less secure and set up with card skimmers. Withdrawing cash at ATMs in supermarkets or shopping centers is a safer option. Some of the most popular local banks in Cancun are Scotiabank, Santander, Bancomer and Banorte.

• Do not carry large amounts of cash:Ideally, take only the amount of money needed for daily expenses in case of theft. Sporting large amounts of cash can make you a target for theft or theft. It's also a good idea to keep a backup credit or debit card (and some cash) in your hotel safe in case something happens to your primary card.

Cancun currency: frequently asked questions

Here are answers to some of the most frequently asked questions about using cash in Cancun:

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Conclusion: Do I need Pesos in Cancun?

I hope this guide has helped you understand the currency situation in Cancun and take some of the stress out of your travel planning.

Overall, using US dollars or pesos in Cancun depends on your personal preferences and needs.

US dollars are widely accepted in most local stores and restaurants, but it's best to have some pesos on hand to take advantage of the favorable conversion rate and for smaller purchases.

If you're on a budget, using pesos can help you save money on everything from souvenir shopping to transportation, lodging, and meals.

But if you're not worried about losing a few dollars in conversion fees, you can just use your US dollars in Cancun.

If you decide to use pesos in Cancun, the best way to get pesos is to withdraw cash from an official bank ATM as soon as you arrive.

Remember to always decline the currency conversion rate offered by the ATM – it will be much worse than your bank!

Credit cards are also a great option for making payments in Cancun, but it's important to choose a card with no foreign transaction fees, such asChase Sapphire Favoritecard.

Whichever payment option you choose, always have some cash on hand in case of unforeseen circumstances and enjoy your trip to Cancun!