Canadian Money

SmileEh · Post by **SmileEh** » Mon Jan 04, 2010 6:30 pm

Can anyone tell me if Canadian money is accepted at the banks for exchange into pesos... I've always taken American money down but I thought this time I would just take my Canadian so I don't have to convert three times (CND/US/MEX)... I will bring all new, no rips, no writting on them, 50 dollar Canadian bills... or do you not think this to be wise...

thanks!

katnsocal · Post by **katnsocal** » Mon Jan 04, 2010 8:39 pm

Read the topic "Help for penny pincher -- current rates". It pretty much covers it all, exchange rates as well as taxi rates. Interesting opinions on getting the most bang for your loonies/bucks.

travelbug_jp · Post by **travelbug_jp** » Mon Jan 04, 2010 9:31 pm

My 2 cents worth ...
I find it easiest to leave my Canadian money at home and just take pesos. Here's why. If I buy something from a vendor or shop somewhere and pay with my $20.00 Cnd. I will still get my change in pesos. So now I would have to figure out if the change I'm getting back in pesos is correct or not. I have also heard that the exchange rate with the vendors, restaurants etc. sometimes "floats" if you know what I mean.
I have never exchanged into American funds simply because
1) I'm not going to the States, I'm going to Mexico
2) that would mean a double exchange and I'd be losing big time
3) I don't need the mental math hassle when I'm over there trying to relax and unwind !!!

Have fun!

Joyce

SmileEh · Post by **SmileEh** » Tue Jan 05, 2010 4:52 pm

I don't think I'm making myself very clear lol... I don't want to know the exchange rate and I don't want to know if vendor's take Canadian money... what I need to know is... do the Mexican Banks take Canadian money (50 dollar bills) for exchange into pesos... or do they only accept American money... I hope that makes more sense... the reason I ask is because I was told I should take American money as not to many banks take Canadian dollar bills to exchange... I know there is no problem if I take Canadian travellers cheques... but I want to take cash and need to know if I can... becauase if their banks don't exchange Canadian Dollar Bills... I will exchange into American money before I leave Canada... thanks :O)

katnsocal · Post by **katnsocal** » Tue Jan 05, 2010 7:00 pm

Yes banks take Canadian dollars as do the money exchanges. The rate fluccuates daily and sometimes more than once a day but you will have no trouble exchanging at banks or cambios.

tim25 · Post by **tim25** » Wed Jan 06, 2010 6:25 am

Save yourself the hassle and take your ATM card. There is a service charge (check with your bank) but you'll get the best exchange that way.

TIM

Mandater40 · Post by **Mandater40** » Sat Jan 09, 2010 5:49 pm

Agree... Use your ATM for the best rate... But I also take travellers cheques "just in case" ... I always take Canadian Funds and have never had an issue... there is no use converting your money to US only to have to then convert it to peso. I agree with all of Joyces points.

SmileEh · Post by **SmileEh** » Wed Jan 13, 2010 3:24 pm

Thank you for the advice on the ATM... but I'm very weiry of using my debit card in Mexico... for that fact, I will be arriving with Canadian 50 dollar bills to exchange into pesos at the Mexican bank... thanks again!

tandr2 · Post by **tandr2** » Fri Jan 15, 2010 5:10 am

x2 to what travelbug said

pkrfc · Post by **pkrfc** » Sun Jan 17, 2010 4:50 pm

Like someone said earlier, Canadian is accepted at the banks, but is easy at the money exchanges that seem to be on every corner. Rates change daily as was mentioned.
I have traveled there with all 3 currencies and find that taking Pesos is just the easiest and cheapest. Ive found that you can get Pesos at almost any bank, at least here you can and imagine most major city banks will have it. This year $3000 pesos was only around $250 Canadian.
I understand why using an ATM is a good option, and I have used it many times, but I do understand about some having concerns. Each to his own.

I have even been stuck for Pesos outside of PV in some remote locations and they accepted my Canadian money rather than loose the business.
Canadian money is good for the most part.
Just my 2 cents

pkrfc · Post by **pkrfc** » Sun Jan 17, 2010 4:52 pm

And only 2 more days until Im back in PV
See you all there......

PV Patty · Post by **PV Patty** » Sun Jan 17, 2010 6:53 pm

Hey there folks,

Just something to concider when using canadian or u.s. bills in stores and restaurants. They have a hard time cashing in any torn bills at the banks. I just resently returned and before I did I went and saw some of my favorite places and exchanged their torn canadian and u.s. bills for pesos.

Patty....

smitty · Post by **smitty** » Sun Jan 17, 2010 9:38 pm

Good tip Pv Patty ! We do the same thing with loonies and toonies - Canadian or US coins are not legal tender in Mexico . We've exchanged Cdn bills for coins at the hotel and airport on numerous occasions .

Canadian Money

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