Money while in Cozumel

[slice1357]

Hi everyone,

I will be in Cozumel for the first time in April and I am wondering what is the best way to pay for things? I already paid for my hotel by credit card, but I will need to pay the balance for diving and of course drinks and meals. I assume it is probably best to pay with pesos but what is the best way to get them? Any info is greatly appreciated!

 

[ggunn]

Hi everyone,

I will be in Cozumel for the first time in April and I am wondering what is the best way to pay for things? I already paid for my hotel by credit card, but I will need to pay the balance for diving and of course drinks and meals. I assume it is probably best to pay with pesos but what is the best way to get them? Any info is greatly appreciated!

I use my ATM card and obtain pesos as needed. ATM fraud is a concern, but it is a concern everywhere. I only use bank owned ATMs in an enclosed place, like the booths in the municipal building across the street from The Palace. I DO NOT use the very convenient very risky standalone privately owned ATM's out on the sidewalks in town.

I also let my credit union know where and when I am traveling.

 

[gopbroek]

You might inquire with dive OP if they would give a cash discount, they may or may not. If so bring dollars. For around town use Peso's obtained from a bank or large grocery store ATM or the Banamex machine at the airport. The exchange rate and any foreign transaction fee will be set by your home bank. An option is a Charles Schwab checking account with a debit / ATM card (zero everything: min balance charges, ATM fees, foreign transaction fee and full market rate exchange rate).

 

[DjDiverDan]

I am very leary of ATMs, and would NEVER use any of the stand-alone ATMs that you will see on the sidewalks, or in Convenience stores, or even in Hotel lobbies. My own preference is to bring cash and exchange for Pesos at one of the banks downtown - On recent trips, I have found the best exchange rate at ScotiaBank, north of the Plaza, just down from Wet Wendy's. I exchange $400-500 at a time - bring your passport with you, as the bank will require it. If you don't want to hassle with a bank, exchange at a Cambio - exchange rate won't be quite as good, but it's usually a bit more convenient. If you want to use an ATM, use only the ones inside of a bank, or at the Mega or Chedraui.

 

[judydivescoz]

I always use the ATM to obtain pesos and pay for everything I can with them. I only use ATMs at a bank. Never the freestanding private owned ones you might see on the street. I never even use the bank ATMs at Mega or Chedraui. In 15 years, I have never had ( knock on wood) a problem using my bank card in Cozumel. I don't like carrying a lot of cash while traveling so bringing $$ from home to exchange for pesos is not a comfortable option for me. I see others do so depending on how you feel, that might work for you. April is a great time to visit! Enjoy your trip!

 

[pinshootr]

with such a high exchange rate I would pay for every thing in peso's

 

[sefuchs]

I generally avoid ATM's and usually use a Cambio or bank. Most restaurants tell you their exchange rate but is always much lower than actual. Exchange rates have been running around 18:1 but most restaurants/stores exchange at 14:1 (at best). Taxis are stuck at 10:1 so definitely use pesos for taxis and ask/confirm for fare in pesos. Or at least if using dollars do your own conversion and confirm that amount for the fare. Also some of the Spanish menu's have lower prices than the English version.

 

[gopbroek]

Also some of the Spanish menu's have lower prices than the English version.

This is good advice. If you do not speak Spanish there are free app's for smart phones that will do optical character recognition via the camera and then translate it for you. I watched a diver at BA do this several years back and it worked pretty slick and at that time (2012) the Spanish menu was much cheaper.

 

[kelemvor]

When I was in Cozumel last summer I had no problem using US Dollars or a credit card for everything. Stuff at the hotel, stuff at the mega (grocery store), stuff at little stands in town, taxis, restaurants.. they all took US Dollars. I used a credit card to settle the hotel bill, and to buy gas for a rental car.

The coin pesos you get in change sometimes seem to be mostly useless as currency from what I can tell. Banks around here won't exchange them. I cleaned them up in an ultrasonic, and my girlfriend gave them out to her elementary students when they did a unit on Mexico.

 

[Prop Joe]

USD is strong against the peso
Mexican Peso | 1972-2016 | Data | Chart | Calendar | Forecast | News

I'll be asking for both menus from now on....
Spanish 1st for obvious reasons.