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UK to US to Mexico - currency question

Portsmouth, United...
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UK to US to Mexico - currency question

Hi all,

My fiancée and I are coming from the UK for our honeymoon, first to SF and then Cancún.

We're trying to work out the best way of sorting out getting some pesos. Does anyone with experience of doing a similar trip have any tips? Most of the advice I've found when googling this seems to be aimed at US citizens with US bank accounts etc, so I'd specifically like to hear from any Brits.

Basically wondering whether we're better off getting pesos from the Post Office before travelling, getting them in the US while we're there (exchanging some leftover $) or just getting them out of an ATM in Mexico.

Thanks

8 replies to this topic
Jackson, Missouri
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1. Re: UK to US to Mexico - currency question

I would think that your best rate for dollars or pesos would be from your ATM or if your CC has no fees use it.

Devon, United...
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2. Re: UK to US to Mexico - currency question

Have a look at Martin Lewis - money saving expert there will be a list of best rates. Alternatively have a look at the Post Office. I use FairFX I have both a US$ cash card as I need to pay for hotel at checkin and also pesos. Rates aren’t as good as there were in June.

Edited: 07 August 2018, 17:58
San Miguel de...
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for San Miguel de Allende, Central Mexico and Gulf Coast
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3. Re: UK to US to Mexico - currency question

Take a look at the Revolut prepay card (or similar). I use mine on an almost daily basis in Mexico since there are no fees for purchases. I also have it linked to my Uber account for that reason. There is a limit of £200 a month fee-free for cash withdrawals, but above that I believe the fee is only 2%.

For that reason I withdraw a bit less than the equivalent of £200 a month, all in one go. Yesterday I got $4,700MXN for £197.36, including a fee of $33MXN charged by the ATM I withdrew from. That gives a net rate of $23.98 to the pound.The day before, I got a rate of $24.44 on a card purchase (but the pound is tumbling).

Hope that helps if you are looking to make comparisons.

manchester
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4. Re: UK to US to Mexico - currency question

Don’t convert pounds into dollars and then into peso as you will lose out twice with the exchange rate. You can use dollars for a lot of things in Mexico. I would recommend getting a Halifax Clarity credit card which offers fee free rates and gives you a better exchange rate than you will get anywhere else. We always take the minimum amount of peso we think we will need (we pay everything in peso as you usually get a better deal). We also take some dollars for the odd thing that works out cheaper in dollars. Plus any excess dollars we just keep for future holidays. We then use the credit card for any additional purchases we need to make in peso and by taking the minimum amount of peso (with the credit card for anything else), it means that we don’t end up with any excess peso.

That Halifax Clarity credit card is a god send. We have just got back from the Dominican and if I had changed pounds into Dominican peso in the U.K. I could have got 60 to the pound. In the hotel it was 58 to the pound but I was getting over 65 to the pound on my credit card (with no additional fees at all).

I also always google ‘foreign exchange comparison’ and go to the place with the best rate. So far the post office has never been the most competitive.

Edited: 07 August 2018, 19:16
San Miguel de...
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for San Miguel de Allende, Central Mexico and Gulf Coast
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5. Re: UK to US to Mexico - currency question

The Clarity card is well regarded. I prefer the security of the pre-pay option, so it's only loaded with what I need for the next few days. Even so, if it's stolen, it can be blocked immediately using the app.

One other point. USD are NOT widely accepted in Mexico, only in resort areas.

St. Helens
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6. Re: UK to US to Mexico - currency question

I used John Lewis last week for my pesos, got 24.5 to the pound, they have been about the best rates for most currencies for several months now. I prefer to take pesos over cards as I will realistically only use it for tips, buses and the departure tax.

Los Angeles...
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7. Re: UK to US to Mexico - currency question

If you use dollars, please take into consideration that most places will round up to the closest dollar so you end up paying more at most places. I find that even with foreign transaction fees, using my credit cards gets me the best rate given that the bank exchange rate is much better than most locations which set their own exchange rate. It is always best to exchange prior to getting to Mexico and pesos is your best option. Have a great trip and enjoy.

Nottinghamshire...
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8. Re: UK to US to Mexico - currency question

No need to get stressed over it there are plenty of options, but don't change your leftover dollars they are widely exepted in cancun.Depends how long you are in cancun for and if you need more pesos

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