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Heads up for Mexico trips!!
by Denise Vogel on November 02, 2010 |
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Here's a heads-up: you may find things a bit different now at tourist attractions, restaurants and shops in popular spots, from Cabo San Lucas to Cozumel, that once freely welcomed U.S. dollars -- thus saving cruise passengers the hassle of exchanging currency.
New laws geared toward stemming the laundering of drug-related proceeds went into effect in mid-September. The result? In certain states (including Quintana Roo, home to Cozumel), businesses can accept only $100 per transaction, according to a report in USA Today. Furthermore, the government "has capped the amount of dollars foreigners can exchange for pesos in Banks & Money Exchange Establishments to no more than U.S. $1,500 per month," reads an official statement by the Mexico Tourism Board, which did not respond to requests for a comment.
Plastic-hounds need not worry: there's no cap on the amount travelers can withdraw from ATM's or charge to credit cards. That's a good thing because the regulations are creating a bit of confusion, and you may find that some Mexican business owners have stopped accepting U.S. dollars.
For instance, member karfest posts, "I just got back from a quick trip to Manzanillo and found that our supermarket no longer accepts US dollars and Home Depot will only take up to $100 USD. I was told that many tourist shops have quit taking USD as well because the banks are cracking down on how much they will exchange." However, downsized reports that after a sojourn in Cabo, "we had no problem with any purchases the entire week … using either US$ or Pesos."
Our advice: Tuck a wad of small U.S. bills into your wallet before you depart, but also plan to withdraw pesos using your ATM card in a Mexican port of call, and keep a credit card handy. The most expensive way to convert your cash is onboard, so try to avoid that option.
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