FlyerTalk Forums - View Single Post - Pesos conversion in US or Mexico, tips

Mar 17, 2025 | 7:45 pm

#24

Boraxo

FlyerTalk Evangelist

Join Date: Dec 2002

Location: Danville, CA, USA;

Programs: UA 1MM, WN CP, Marriott LT Plat, Hilton Gold, IC Plat

Posts: 17,984

Here's my thoughts:

DO NOT EVER use an ATM that is not attached to a bank or a bank ATM in a supermarket. The hotel and.street ATMs often have skimmers. Krebs did a whole story on this.
Beware the ATMs default to DCC (dynamic currency conversion) which will give you a horrible exchange rate. Be sure to DESELECT "convert to USD for me" as the interbank rate that your bank uses will be far better.
Get an ATM card that rebates ATM fees as all the Mexican banks charge fees now. If you have to pay a fee compare across the banks as the fee ranges from 20-70 pesos.
Always tip in pesos if you can as it is a PITA for your servers to cash out USD and it costs them a forex fee. I used to think they preferred USD because it was a stronger currency but I was wrong! They want pesos because they need generally spend the money at home.
Of course if you don't have enough pesos or just starting your trip then it is fine to tip in USD. They would rather have foreign currency than no currency and many tourists are oblivious anyway.
The advice about tipping 15-20% is nonsense. In Mexico it is generally acceptable to tip 10-15% max. Only silly Americans burn money by tipping 20%.
No need to tip taxis unless they unload groceries or do other favors. Most of the time they find ways to jack up the fare so better to negotiate the fare up front.

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