Always use Mexican pesos instead of your home currency to avoid scams and save money. Consider exchanging enough cash for your trip, but only carry the amount you need daily, leaving the rest in a safe place.
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Before your trip, exchange money at your bank or credit union, which likely offers better rates and fewer and/or lower fees. See if your bank or credit union will buy back any leftover foreign currency for when you 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.
In Mexico, every bellboy, chauffeur/driver, or valet parking person expects a tip of 20-50 pesos. Bartenders, waitresses/waiters, and housekeeping staff expect a tip of 15% of your bill, and housekeepers should be tipped about 50 pesos (or more) per day.
The best currency to bring to Mexico is a mix of pesos and US dollars. Use the dollars to pay for tours, entrance fees, accommodation, and travel.For everything else use pesos.
Whether in the U.S. or at your destination, avoid airport kiosks or other exchange houses if you can. Those should only be used as a last resort, because they typically offer poor exchange rates and high fees, so you'll get less currency for your money.
In Mexican cities and tourist areas, credit cards are accepted almost everywhere. Visa and MasterCard are the most widely accepted. If you want to pay with American Express, you should ask first.
Preparing your travel money options beforehand is the key to a stress-free vacation. Credit cards, debit cards, prepaid travel cards and cash are all accepted in Mexico. Outside of a few purchases like transportation fare or local shops, a credit card will be your best bet for everyday purchases.
TOUR AND ACTIVITY GUIDESIf you're on a tour with a lot of people (20-100 people), each person should leave a tip of at least $5 U.S. (90 pesos). If you're on a tour with very few people (e.g., four people in your family), the group should leave a tip that is equivalent to 15-20% of the cost of the tour.
For traveling (even on a backpacker budget) it is perhaps better to consider what 500 pesos (or $25 will buy). That is enough to rent a car for a way (minus non-specified expenses). It is also enough for dormitory accommodation in some of the cheapest hostels in Mexico City for two nights (around $8 per night).