Exchanging $$ For Pesos - Royal Caribbean

[socalgirl]

hi,
we're staying at the royal caribbean. where's the best/nearest place for best exchange of money?
thanks,
gayle

 

[Joe L]

Actually it's at the Royal Caribbean front desk. The Royal's exchange rates are as good or better than most.

 

[socalgirl]

that's easy! thanks for letting me know!
gayle

 

[Barbara]

I agree with Joe L. We stayed at the Tri Royals and also the JW Marriott. The rate of exchange was 10.80 the day we left the Royals and was 10.47 at the JW Marriott a day later.
I would definitely exchange at the Royals front desk, you can't beat the convenience. Even if you could find a slightly higher rate it is not worth the hassel of getting to it.

 

[Karen G]

Plan your expenditures because they won't change pesos back to U.S. dollars when you are ready to go home.

 

[socalgirl]

travelers checks?

are travelers checks okay to use in mexico? will they exchange them at the same rate if we decide to exchange?
gayle

 

[Avery]

Also, keep in mind that while everyone will take dollars (businesses, cab drivers, restaurants, etc...), they will exchange at only 10 to 1... so better to do it at the Royals. And while they won't change it back, they will take pesos as partial payment toward your bill at the end of your stay. So give them all but what you need to tip the driver, and you're good to go.

 

[tonyg]

Unless things have changed travelers checks were accepted and exchanged without a fee at the Royals.

are travelers checks okay to use in mexico? will they exchange them at the same rate if we decide to exchange?
gayle

 

[Barbara]

Unless things have changed travelers checks were accepted and exchanged without a fee at the Royals.

Things haven't changed, we used travelers checks in late Nov. without any fees.

We also did what Avery suggests and used our pesos to pay our check out bill, except for what we reserved for final tips.

FYI, at the airport food counter, I saw them gave change for US $ also in US $. I thought they always gave change in Mexican pesos so this was a pleasant surprise.

 

[JustPlainBill]

I think your best bet is to use your credit card with an ATM at a bank. But I got a nasty surprise after our recent trip to La Paz (snorkel with sea lions!). Mastercard charged me a $10 foreign exchange fee every time I used the card. I believe the actual charge is 3% of the transaction amount, with a minimum fee of $10. I unwittingly used my Mastercard to buy a $3,400 item from a store in Canada, and Mastercard nicked me for $100. Visa does not seem to do that. Good bye, Mastercard.:annoyed:

 

[Karen G]

Mastercard nicked me for $100. Visa does not seem to do that.

Visa does it, too! They charge 3% of the purchase price as an international transaction fee. I noticed after our trip to Cabo and I see it when I pay my SA levies. Bummer!

 

[Marcia23]

I wonder, does American Express charge a transaction fee?

 

[JustPlainBill]

Visa does it, too! They charge 3% of the purchase price as an international transaction fee. I noticed after our trip to Cabo and I see it when I pay my SA levies. Bummer!

You are right. I checked my recent Visa statment and got the bad news. American Express charges a lesser fee of 2%. It was not always this way. Then, some shyster lawyer sued the credit card companies, which were making very minor adjustments to their international exchange rates, for not properly disclosing their trivial international-exchange fees. I assume the credit card companies responded by raising their rates and "disclosing them." Thanks, shyster lawyer. (I am a lawyer, but do not admit it in polite company.)