September 7th, 2010

Cash in Mexico – New Requirements

With the objective of limiting and controlling the movement of American Dollars CASH within Mexico, the Mexican Government recently passed a new law which comes into force across the country on 14th September 2010, making the use of American Dollars CASH to make purchases in Mexico will not be as free as it has been in the past. Many repeat guests to Mexico who have become accustomed to using American Dollars CASH in Mexico as though they were effectively in the United States will notice the difference. Other payment methods such as Credit Cards of all types and all issuing banks, Traveler’s Checks, Mexican Pesos and non-American Dollars foreign currencies in cash (Euros or Canadian Dollars) are not affected in any way by this new law.

The most noticeable differences to travelers will be:

1. Hotels and Exchange Booths will only be able to change a maximum of $1,500 USD CASH per person per month into Mexican Pesos. Previously there was no limit.
2. Businesses (transportation and excursion companies) will only be able to accept a maximum of $100 USD CASH per transaction – but the number of transactions per customer are not restricted.
3. Certain businesses may not be able to, or may choose not to accept American Dollars CASH for any purchase at all (this may include shops etc)

If a customer wants to purchase from an on-site excusrion company (for example) a tour worth $139 US per person, he will only be able to pay $100 USD of this amount in USD CASH and the remainder will need to be in another form of payment (credit card, Mexican Pesos cash, etc).

Appropriate advice would be to inform travelers that they should not carry large amounts of American Dollars cash with them to Mexico, but instead they should consider either using a Credit Card, taking Mexican Pesos cash, taking Traveler’s Checks (of any currency) or withdrawing money locally in Mexican Pesos. Local tipping in small bills is still widely accepted, and Berwick Travel recommends charging any in-resort purchases (gift shop, spa, etc.) to the room, which would then be paid by credit card.


CONTACT INFORMATION

Office (402) 261-8477
Info@BeachBumOnABudget.com

Jamie Root

Cell (402) 202-9823
Jamie@BeachBumOnABudget.com

Cheryl Droud

Cell (402) 770-6998
Cheryl@BeachBumOnABudget.com