Hotel Currency: More Pesos for Your Dollar and Mexico Insurance

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Mexico Insurance Peso Exchange Ideas

Mexico Insurance – Hotel Currency: More Pesos for Your Dollar? 

With all of the conveniences provided by most full-service hotels, many travelers are eager to exchange their American dollars to Mexican pesos, but did you know it may be prudent to venture outside of your hotel to exchange currency?

Whether you are traveling from Canada, California, New Mexico, Arizona or Texas, a common sense measure is to remember to buy Mexico insurance at Mexican Insurance before you leave for Mexico! Mexican insurance with adequate limits can keep you from being detained by the Mexico authorities, because US and Canadian car insurance is invalid in Mexico. For more Mexico Insurance information visit : Mexico car insurance or Rocky Point Mexican insurance.

Since there is no set fee amount for banks and other types of currency exchange offices, many services charge visitors their own amount for the currency’s convenience and processing fees; which can vary from one place to another place.

Since many Mexico hotels and bed and breakfast establishments look for many ways to earn additional income, the percentage of pesos you actually keep may be less when exchanging dollars (Canadian or US) using the hotel’s exchange services rather than at a local bank or other local exchange service.

In order to get the best deal when exchanging money, you will need to map out a an area close to your lodgings to local banks and money changing services offices. This will allow you to compare processing fees to enable maximum pesos for your dollar. Start searching these services a few days before your trip and when a good location with realistic services has been found, map out the route so you can walk it. It may seem like too much time, but when changing money, especially a large amount, the extra pesos can mount up.

Additionally, it may be a good idea to compare ATM fees in the area you stay. Look for the one that offers the lowest processing fees; in case you should ever need emergency cash.

While it may be convenient to use the hotel’s ATM facilities, the costs will most likely be higher there than in outside banking locations. In Mexico, ATM fees are usually $1.50 per $300.00, and daily withdrawals can be limited to $200-$300 per day. This is significantly less than the daily withdrawal limit many American ATM’s allow, however in Mexico, costs are generally lower which helps stretch American and Canadian travel dollars.

Because Automatic Teller Machine limits are lower, always remember to exchange dollars for pesos (if not already provided from your local ATM) and find the currency exchange with the lowest fees.

Mexico Insurance – Hotel Currency: More Pesos for Your Dollar? 

Learn more about Mexico Insurance through Mexico Insurance online here

Mexico Insurance – Hotel Currency: More Pesos for Your Dollar? 

{ 2 comments… read them below or add one }

Stefany Elling January 26, 2014 at 6:14 pm

I have been suspecting the same thing, I mean these hotels might want to get a bit of commission out of exchanging USD to Pesos so typically we’ll not get as much as we should if we deal directly with a money-exchange agent.


Ashleigh Shibata January 26, 2014 at 6:15 pm

I think the ATM daily withdrawal limit is quite sensible but if they can increase it a bit it’s even better. Anyway, it’s not really a big issue to me as long as I can drive all through Mexico without limitation.


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