MONEY EXCHANGEThe short answer is ABSOLUTELY YES, you need Mexican Pesos. You will need pesos for tips, souvenirs shopping, transportation like taxi/buses, tours, bar/restaurants, etc.
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The best currency to take to Cancun is Mexican pesos (MXN) as this is the official currency of the country and will save you money when paying for purchases. However, U.S. dollars are also widely accepted, so it's possible to use dollars when traveling in Cancun.
Cash is a necessity in Cancun, given that many restaurants and gift shops don't accept credit cards. Like many other airports around the world, the Cancun airport is jam-packed with money exchange kiosks looking to convert your money into Mexican pesos.
The best currency to take to Mexico is the local currency, the Mexican peso. US dollars are also highly exchangeable at local banks and currency exchange offices. However, instead of converting physical banknotes, the cheapest way to pay in Mexico is to use a multi-currency travel debit card like Revolut or Wise.
While some merchants in Mexico may accept US Dollars, it is not widely accepted and you may receive a poor exchange rate. It's recommended to use Mexican Pesos when in Mexico.
To show your appreciation for the meal, tip your server around 15%. Raise that up to 20% if you were wowed. Note that some establishments automatically charge a service fee, so keep an eye out so that you don't tip twice. Bartenders should get 20 pesos (US$1) per drink or 10–15% of the total bill.
Taxi medallions are exceptionally expensive, which means that a taxi driver has a lot of costs to pay before they ever put money into their own pockets. This means that taxi prices are very high, and what's more, the taxi prices can be hard to predict and inconsistent.
Always pay in pesos. For starters, everyone will take pesos, since it's Mexico's actual currency. Then, there's the fact that pesos offer more flexibility when paying: If an entrance to something costs $280 pesos, you can pay with $300 and get $20 in return.
They are fantastic for tacos and other fast food. With 100 Pesos, tourists can also buy ice cream, fruits, or juice from the local food markets. If they do not want to spend their money on food, they can purchase a ticket to enter Tulum ruins, Chapultepec Castle, Museo Nacional de Antropologia, etc.
Hotel Resort Fees Can Be Hard To FindA hidden cost that is becoming more popular in Cancun is the resort fee. Resort fees can be sneaky and often won't show up when looking at hotel pricing. It is always wise to check the fine print or contact your hotel to determine if you will be charged a resort fee.
Use your best judgment when deciding how much cash to bring with you to Mexico. A good rule to follow is to bring 25% of your total budget in cash. If you happen to run out, use your debit card or prepaid travel card at a verified national bank ATM to get the best exchange rate.
Our recommendation, take with you between $1000-$1500 in cash which will serve you during the trip and will allow you a smooth process without having to get involved with conversions and withdrawals from the card. Once you've landed in Mexico, go to one of the nearest money changers' stands and make the conversion.
In Mexico, a good rule of thumb for tips is to leave 10-15% of the bill. 50 pesos would be a standard tip for a bill that was around 500 pesos. For example, if you go out for dinner and get drinks, you should expect to spend around 400 MXN. That would mean your tip would be between 40-60 MXN.