Boraxo

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As prepaid debit cards work differently than credit cards, you will need to consult the issuer and read the T&Cs to determine if they work outside the country of purchase. I would expect a prepaid visa card to work in Mexico but who knows how these transactions are processed. I would not want that to be my only source of funds.

There are many threads in TravelBuzz on the best credit cards and ATM cards to avoid forex fees. There are even threads in Mexico that speak to this issue. In short there are many banks that issue cards without forex fees. Visa and MC are accepted everywhere. Amex is accepted by most decent restaurants and hotels. I have never had a problem using no-fee CapOne and Chase cards which use the interbank forex rate. In my experience you can charge almost everything except taxi rides so I rarely need more than USD $100 during a one week family vacation.

All Mexican bank ATMs now charge a fee of 20-60 pesos to withdraw cash (the fee varies, so make sure you check before accepting the fee). So it makes sense to do fewer larger transactions to avoid fees. Also you should AVOID non-bank ATMs - there was a nice post from Krebs on all of the skimmers that he found hidden in ATMs at hotels & resorts in Cancun as well as ATMs on the street. He did NOT find any skimmers at banks so think about that when selecting your ATM. You own bank may charge you ATM and forex fees - check the other threads for suggestions on no fee cards like Schwab and Fidelity (1%).