Money in Puerto Vallarta
While many establishments in the Puerto Vallarta area accept American or Canadian dollars, there's no denying that tourists can receive the best exchange rate by converting their money to pesos. This is because local businesses will offer less favorable exchange rates when compared to the national average to offset the costs of exchanging the foreign currency themselves.
Credit and debit cards may appear to represent a reliable workaround as well, but there are a range of issues associated with using these cards during your stay in Puerto Vallarta. One concern is the typically high fees associated with foreign transactions using a credit or debit card, which can approach and exceed 5 percent per transaction.
Another issue is simple compatibility…many of the most worthwhile experiences in Puerto Vallarta are cash driven enterprises, and even those that do rarely accept the cards of smaller issuers like Discover and American Express. This means that lack of preparedness with the correct currency could mean you miss out on a unique opportunity. With this in mind, here are a number of ways you can access pesos for your Mexican vacation using your home country's currency.
Through Your Bank
Travelers Checks
At the Airport
However, this flexibility comes at a significant cost: exchange rates at airport currency exchange centers are often much less favorable than with currency exchanges performed through other means. Tourists can lose 20 percent or more of their funds in each exchange, making airport currency exchanges into more of an emergency resource for the savvy traveler.
Local Currency Exchange
From the ATM
Travelers should also ensure their card is approved by the issuer for international use, as issuers overzealous in their efforts at identity protection have been known to freeze he cards of unsuspecting tourists as a result of unexpected transactions outside of their usual location.
MoneyGram and Western Union
There are relatively high standard fees associated with use of these services, often exceeding $10 per transaction, but for travelers with no other access to funds, it's an outstanding option. To receive funds sent from abroad, visitors must use their passport to identify themselves at one of the dozens of Western Union or MoneyGram locations in the Puerto Vallarta area.
General Tips
Another thing to keep in mind is that change and small bills are typically in short supply, especially with street vendors and smaller establishments. This means that you'll want to use smaller bills first to prevent an extended delay and frantic employee search in other local stores to collect your appropriate change. Your change will also be given in pesos regardless of the currency you use. Above all, NEVER pay or leave a tip in foreign coins, as they have no value in the country and are little more than a nuisance.
Pesos are essential to maximizing the potential of your stay in Mexico as well as its value. There are many ways to gain access to the country's national currency, and while North American dollars are widely accepted in Puerto Vallarta, the fact is that pesos carry more weight in the area.
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