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Do not listen to your Travel Agent!! US Money Restrictions

Cozumel, Mexico
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Do not listen to your Travel Agent!! US Money Restrictions

This is like a bad chain letter. It seems to be affecting the UK mostly. There is some real bad information going around that seems to Target Mexico every year. (Swine Flu Last Year), The truth is that Mexican Banks themselves are no longer going to operate using US Dollars. Also, are limiting USD Money exchanges to prevent laundering from Drug Cartels since they deal in USD mostly. The first bank to do so was HSBC, then Bancomer followed, along with BanNorte. This does not affect the Tourist at all unless you walk into a bank, stand in line and want to change dollars. Why do that when you have an ATM attached to the bank and you can get pesos without hassle. if you Google "Mexico to stop accepting US Dollar' You will get other forums pointing to an article in the El Universal stating that Banks will stop accepting US dollars to curtail Cartel money. It does not state anywhere that Mexico as a Whole Nation, from the guy selling necklaces on the beach to the local shops and restaurants. This some real bad information, and it only makes money for the overseas exchange companies take advantage of worried tourists to use them to change money and get a crappy exchange rate.

Here is basically the only article on this issue. It is in Spanish.

The first paragraph translated states that "The Banks Themselves decided to limit US dollar Transactions"

www.eluniversal.com.mx/primera/34972.html

Beckville, Texas
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1. Re: Do not listen to your Travel Agent!! US Money Restrictions

it has been illegal for years to even USE USD in Jamaica but most Jamaicans prefer them over their own currency.

They will never be able to prohibit the use of USD. In spite of our government printing money and handing it out for free, it is still the world currency. . .sorry. . .but that's the way it is.

I'm not about to exchange my dollars here in the U.S. for some usurious rate when I KNOW I'll get a better deal in Mexico.

Chester, United...
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2. Re: Do not listen to your Travel Agent!! US Money Restrictions

have always exchanged my british pounds when i get to mexico always had a better rate

atlanta
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45 reviews
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3. Re: Do not listen to your Travel Agent!! US Money Restrictions

If you show up with your American/UK passport and 100 dollars/pounds to exchange and your bank teller thinks you are "laundering money" ... congratuations you have found the dumbest teller in Mexico.

They are looking for large dollar changes.

However, you will get a much worse exchange rate then if you just put your bank card in the ATM machine and get your pesos there. :)

Cancun, Mexico
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4. Re: Do not listen to your Travel Agent!! US Money Restrictions

So this means that I don't have to send it to 10 persons in the next 24 hours if a want to be rich??

Or I still need to send 1USD to Bill Gates or my hotmail account would be close??

=P LOL.....

Zihuatanejo, Mexico
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for Ixtapa, Zihuatanejo, Cabo San Lucas
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5. Re: Do not listen to your Travel Agent!! US Money Restrictions

Might want to read this article to see WHY Mexico is trying to stop the flow of US Dollars...

borderlandbeat.com/2010/08/mexico-targets-mo…

Zihuatanejo, Mexico
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for Ixtapa, Zihuatanejo, Cabo San Lucas
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6. Re: Do not listen to your Travel Agent!! US Money Restrictions

CarolLee in Atlanta....over on the Pacific coast we must have lots of very dumb tellers... It is very difficult in Ixtapa/Zihuatanejo to go to a bank with your passport and US Dollars...they just shake their heads and say NOT accepting any US Dollars. We are down to about one bank...Scotia...that will exchange our US Dollars.

Guess you just have to be here in Mexico to understand all that is happening around you.

Beckville, Texas
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7. Re: Do not listen to your Travel Agent!! US Money Restrictions

Just talked to a good friend of mine. . .an ex-patriate from Michigan that has lived in Cancun for almost ten years now. She said the only place that won't exchange is a bank. You can still exchange at your hotel/resort or the cambios. Dollars are still accepted at restaurants and WalMart, too.

San Diego, CA
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8. Re: Do not listen to your Travel Agent!! US Money Restrictions

why people still use USD as currency in Mexico is beyond me...

Carrying your vacation money is not the smartest thing to do. What if you lose your purse of wallet while in transit? Or the safe at hotel gets broken into? oh there goes a few thousand dollars...

While I travel, I take $100 USD bucks me and $100 USD equivalent in pesos. Once Im in MX I go to the bank's ATM and take out $3000 - $5000 pesos and return as needed.

Edited: 31 August 2010, 19:16
Cozumel, Mexico
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9. Re: Do not listen to your Travel Agent!! US Money Restrictions

Bump it up!

Florida
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10. Re: Do not listen to your Travel Agent!! US Money Restrictions

why people do not carry USD as currency in Mexico is beyond me...

Carrying your vacation money is the smartest thing to do. What if you the pwoer was out in all of cancun because of a storm and the ATM's did not woork? Carrying cash is very easy to pack and anything not used can be taken back with you

While I travel, I take a few thousand USD bucks with me and