Puerto Vallarta Forum (PV Bulletin Board)

I am a newbie to the west coast of Mexico. I've been to the Yucatan (Cozumel, Akumal) many times, but PV is a new world to me. I've used the search engines but I can't find where anyone has asked if I would be better off using a credit card or US travelers cheques?

I got a bunch of travelers cheques since I'm used to Akumal's power being out or the ATM's being out of money. My stepfather tells me that travelers cheques are a bad idea in PV. Can you guys help? We leave Thursday

Credit cards will net you an extra 5-6% service fee on top of your charges, IF the place you want to use it takes them...many businesses and such are starting to opt out now because it's getting too expensive for them and takes too long for reimbursement. The touristy places probably still will.

Travelers checks can be easily cashed at any bank or casa de cambio. Rates won't be as good as using your ATM card by cashing at the cambios(ATMs are widely available and rarely lose power), but they are convenient and open longer hours. You need a passport to cash them at any bank - some cambios only require picture ID but many are also starting to insist on the passport as well. Your hotel front desk will also cash them or do any exchange, however hotels offer the worst exchange rates.

Cash is king, and the currency used, priced in, quoted, etc. in 99% of the cases in Vallarta is the peso. You will get your best deals paying in pesos, as most establishments round down to 10:1 if you pay in USD. (present exchange is closer to the 10.6-10.9 range).

It is much easier using pesos. A lot of people use their check/debit cards to get pesos--others cash trav. checks into pesos.

We became uncomfortable using our credit card in PV several years ago--there was quite a bit of skimming credit cards. We just use pesos.

How much lower are the exchange rates on Travelers Cheques?

Negigible, as noted, and you'd never notice the difference unless you are planning to cash $10,000 worth at a time.

I'm rambling a bit, but if you use traveler's checks, make sure that you sign them correctly before departing on your trip.

I once observed a distressed tourist who had erroneously pre-signed BOTH the signature and countersignature lines on all of her traveler's checks when she purchased them in the U.S. When she arrived in PV, nobody wanted to accept her traveler's checks because her name was already signed on the countersignature line. They money changers needed to directly observe her signing of the countersignature line. I don't know how this story finally ended.

I deal only in cash as you might tell by the looks of my pic. I exchange at any casa de cambio that has a good rate. They also break larger bills when exchanging if asked, then you have good tipping denominations.