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Lisa

Sep 18, 2002, 10:55 AM

Post #1 of 5 (778 views)

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No time to get ATM so should I bother with travelers checks?

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It was suggested on this forum that I get an ATM card to use in Mexico rather than carrying around a lot of cash. Since I didn't already have an ATM card, I went to my bank to get one but they said it takes seven business days to process one and I leave in three days.The hotels I'm staying at are already paid for so the money I'll need will be for food, taxis, shopping, etc. When possible, I'll use a credit card at restaurants. I'm a little concerned about carrying a lot of cash but would traveler's checks be a hassle? Is it easy to cash one at a bank?

El Jubilado

Sep 18, 2002, 11:09 AM

Post #2 of 5 (774 views)

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No time to get ATM so should I bother with travelers checks?

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Traveller's checks are just fine. You can exchange them for pesos at banks and the nearest casa de cambio, of which there are hundreds everywhere. ATM cards are better because you get a better exchange rate and you have to pay for traveller's checks at the outset. Some expatriates have figured the best exhange rate conceivable and by going through a rigamarole manage to save a penny or two on every ten dollars. My advice, bring some cash, US dollars can be easily exchanged, the balance in travellers checks. Don't exchange them at your hotel unless you have to because the rate is lower than at a bank which is best or a casa which is still OK. On vacation you should be thinking about enjoying yourself not worrying if you could have saved a few pennies somehow. The only problem with traveller's checks is that you often need a passport at the casas. You can change them without it but it takes longer. At your hotel they probably wont ask for a passport. Banks may be a little easier to use without a passport but they take longer. Bottom line, come to Mexico, don't worry, others have had your problem and it has been solved. Most of all, concentrate on enjoying yourself, not worrying about what can go wrong.

Lucy

Sep 18, 2002, 11:53 AM

Post #3 of 5 (774 views)

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Most places accept American Express travelers checks only

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: Traveller's checks are just fine. You can exchange them for pesos at banks and the nearest casa de cambio, of which there are hundreds everywhere. ATM cards are better because you get a better exchange rate and you have to pay for traveller's checks at the outset. Some expatriates have figured the best exhange rate conceivable and by going through a rigamarole manage to save a penny or two on every ten dollars. My advice, bring some cash, US dollars can be easily exchanged, the balance in travellers checks. Don't exchange them at your hotel unless you have to because the rate is lower than at a bank which is best or a casa which is still OK. On vacation you should be thinking about enjoying yourself not worrying if you could have saved a few pennies somehow. The only problem with traveller's checks is that you often need a passport at the casas. You can change them without it but it takes longer. At your hotel they probably wont ask for a passport. Banks may be a little easier to use without a passport but they take longer. Bottom line, come to Mexico, don't worry, others have had your problem and it has been solved. Most of all, concentrate on enjoying yourself, not worrying about what can go wrong.

Estanislao

Sep 18, 2002, 12:52 PM

Post #4 of 5 (774 views)

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Some hotels give better than bank rates to their guests

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Andy in Aguas

Sep 20, 2002, 7:06 PM

Post #5 of 5 (775 views)

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You can cash traveler's checks at banks in Mexico.......

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....However, many bank tellers are not used to them and many times they have to ask their "jefe" (boss) for help. So, it generally takes longer to cash traveler's checks in Mexican banks than in the States, but they will cash them. It was suggested on this forum that I get an ATM card to use in Mexico rather than carrying around a lot of cash. Since I didn't already have an ATM card, I went to my bank to get one but they said it takes seven business days to process one and I leave in three days.: The hotels I'm staying at are already paid for so the money I'll need will be for food, taxis, shopping, etc. When possible, I'll use a credit card at restaurants. : I'm a little concerned about carrying a lot of cash but would traveler's checks be a hassle? Is it easy to cash one at a bank?