Purchase about 500 peso's in cash before you leave home. You
normally have to order them ahead of time from your bank. It is
nice to land in Mexico with some cash for meals, bus fare, taxi,
without immediately searching out a bank or a money exchange
house casa de Cambio. It is
also good to familiarize yourself with Mexican currency before
Travelers checks are
the safest way to carry money, and are accepted at most banks
and casas de cambios with-in Mexico at good exchange rates.
Denominations of $100 Canadian are recommended.
your spending habits, you should bring a minimum of a minimum of
$500 per/week visit. This amount combined with a Bank Debit
Card and a Credit Card should suffice. If you don't spend all
your travelers checks in Mexico, you can cash them when you get
Most banks will give
you cash advances on major credit cards, or you can use them at
the ATM machines if you have a pin number authorized before you
leave home. Don't take extra credit cards, in case you loose
Interac bank cards give
excellent exchange rates and work at most ATM machines. Make
sure you have funds in your account before you leave home. If
you have a personal line of credit established with your bank,
you will not have to worry if you happen make too many
When the Mexican ATM
machine asks you how many dollars you want, make sure you enter
peso amounts. The ATM's only output peso's! ATM machines are
sometimes closed because they run out of money or the machine
Banking hours are
similar to Canada - 9am till 3pm. Closed Sundays and all
national holidays. Banks usually only accept travelers checks in
the morning, and there is an exchange limit of about 3000 peso's
per day. This amount should not be a problem for most of us.
They are usually very busy on Monday mornings and the day after
a holiday. Try not to make Monday your regular banking day.
Note: Do not accept
Mexican bills that are either torn or written on. For some
reason many stores will not except them. If you mistakenly
receive defaced bills, the banks will exchange them for you.