Prices in Cancún and other tourist hubs fluctuate with the seasons: in the popular travel months, rates for hotels, rental cars and day trips are higher, whereas you can more easily bargain in the off season. As a general rule, you will pay more for an item or service—crafts, Internet connections, food—in the Zona Hotelera, than you will in El Centro.

The value of the Peso, Mexico’s currency, is fairly erratic. The exchange rate is approximately 10 to the dollar, but fluctuates daily. 100 centavos (coins) equal one peso. Avoid bringing $100 U.S. bills to Cancún, as these are the most frequently counterfeited American bill, and therefore least likely to be accepted at smaller shops and restaurants. Note that prices are usually given in local denominations, but the $ sign can be used for both pesos and dollars. Be sure to look for the post-script USD or MN (moneda national), the Mexican national currency.

When you arrive in Cancún, your best option is to head directly to a bank, skipping the Casas de Cambio, or exchange offices in the airport. Banks use exchange rates that are set daily by the government, and tend to be fair. There are a number of banks on the hotel strip, and they are generally open Monday to Friday, 9am- 5pm, and Saturday mornings.

Hotel Zone:

• Bital: Plaza Caracol, second level
• Banamex: Opposite the Omni Hotel, in Captain’s Cove “mall”, closed weekends.

Downtown:

• American Express: Av Tulum #200 Local phone: 885-3905, Open M-F 9am-6pm, Sat 9am-1pm
• Bancomer: Intersection of Uxmal and Yaxchilan
• Banco del Sureste: Intersection of Yaxchilan and Sunyaxchen
• Banorte: Intersection of Tulum and Uxmal
• Scotiabank Inverlat: Av Tulum 26, south of Uxmal Open M-F 9am-5pm, Saturday 10am-2pm

There are also a number of banks along Av Tulum south of Av Coba

While they are not as reliable for fair rates, Casas de Cambio are open later hours, and on weekends.

As exceptions to the rule, you will occasionally find restaurants, grocery stores and exchange kiosks that offer more generous rates than the banks, so do not be afraid to shop around.

However you choose to convert money, it is advisable to do so as soon as you arrive. Although some establishments will accept dollars, they will exchange them at a lower rate—so you are better off using pesos at all times. Purchases made with credit cards are charged in pesos and converted to dollars by the issuing bank, which usually guarantees a good rate. Just be aware that some stores add a surcharge of 5% for the transaction—ask if it is unclear. The occasional restaurant will charge your card in U.S. dollars, converting to pesos at a less favorable rate. Confirm with your waiter that you will be charged in pesos.

ATMs are accessible 24-hours a day, including weekends and holidays. You can withdraw money from the ATM upon arrival at the Cancún airport, and thereafter at most shopping areas, banks, and hotels. Universal cards such as Cirrus and PLUS are accepted at most ATMs—and the exchange rate is set by the issuing bank, as it is with credit cards. Your bank will probably charge an international transaction fee (around $3USD) for each withdrawal. If this is your first time venturing abroad, double check with your home bank to see that your Personal Identification Number (PIN) functions in Mexico.

Tax on goods and services is 15% throughout Mexico, but 10% in Cancún and other tourist zones. These taxes are already built into the price, unless otherwise indicated.

Do not underestimate the importance of tipping in tourist zones. Some people will tell you that tips are more “optional” than they are in the States, but workers in the tourist-dependent service industries rely heavily on tips as wages. Waiters should get 10-20%, while bellhops usually get 50–100 pesos per bag. Try to avoid tipping with U.S. coins—they are useless to locals because they can not be exchanged for pesos. Likewise, your leftover Mexican pesos will not be exchangeable in the States. If you do not use them up, you may want to add them to the chambermaid’s tip when you check out.

Cheques de Viaje (traveler’s checks) are accepted at most major restaurants and establishments. Write down all serial numbers immediately and keep them separate from your checks so that if they are misplaced or are stolen, you will have the information to report to the issuing company.

If your credit cards are lost or stolen, immediately call the credit card company to cancel them and to have new cards issued. Dial 001-880-555-1212 for a directory of U.S. toll-free numbers—here you will find the customer service numbers for several major credit cards.

• American Express: (800) 221-7282 U.S., 01-800-828-0366 local for all money emergencies, including credit cards or traveler’s checks
• Diners Club: call collect (702) 797-5532
• Discover: call collect (801) 902-3100
• MasterCard: (800) 307-7309 global access
• Thomas Cook: (800) 223-7373 global access
• Visa: 01-800-847-2911

Wiring money can be efficient, as funds are usually available within minutes of the transaction. Wiring services will transfer money to many of Cancún’s banks. Western Union charges $15USD to send up to $300, or 5% on transfers of more than $300.

• Amex MoneyGram (800) 926-9400 U.S., www.moneygram.com
• Western Union (800) 325-6000 U.S., 01-800-800-3930 local 884-1529, www.westernunion.com
• Thomas Cook (800) 287-7362 U.S., www.us.thomascook.com