What to do when the ATM ask you about currency conversion rateĪ new thing that automatic teller machines do is ask you if you want to accept the banks conversion rate. Now if you are staying longer or going to be living in Playa Del Carmen, then we will cover that in another article on how to maximize your money when exchanging it. The simple answer and easiest thing, just use your ATM card.
It is however another story if you try to use dollars to buy things because stores will give a worse exchange rate and you can loose as much as $100 dollars when spending $1000 dollars or 10%. Relatively speaking though, it is not a huge amount of money to be worried about. So if you are concerned about using your ATM card outside of home country and want to exchange at a Casa de Cambio you would have roughly 500 less pesos. If you go to a exchange booth on the street you will likely get. This will give you (current exchange rate in pesos) to the dollar or for your $1000USD you get x amount pesos. If you go to the ATM and pull out the money you will likely have non bank ATM fee and foreign exchange fee. Lets say you have paid for hotel and flights already and you are bringing a nice round number of $1000USD for vacation to spend on jets skis, dinning out, and souvenirs. There is a reason everyone says this and you should listen to them! It is the best way to get local currency, but if for one reason or another you prefer to exchange cash then it is not a major issue.
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