What currency is most used in Cabo? Everyone has a different opinion, and want to make sure we have enough of whatever for tipping and small souvenirs. Thank you!
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Nadine......US Dollars or Pesos would be fine. The help would be very grateful for tips in both.
When paying for Taxis and in local stores and restaurants its usually to your advantage to pay in Pesos.
As you are Canadian, then the choice is easy. Pesos. Don't exchange your Canadian dollars for USD, and then get a less than stellar value for your 'new' money. Just get pesos and spend the most valuable currency.
You can get them at a home bank or withdraw from a bank ATM.
Thanks!Edited: 09 October 2017, 19:11
I think the safest ATM's are the ones in the Comer (Mega) store as the store is always busy so it would be very hard to compromise the machines. They are major bank ATM's as well.
I would strongly suggest you use only bank ATMs, preferably inside the bank or one that is next door and sealed off in a glass-enclosed room. Never mind, "it's in a busy area and hard to tamper with". He might want to say that to the hundreds of people ripped off at gas station card readers every day: it takes very little to play around with the readers ... especially at night when NO ONE is around.
By all means, buy Pesos at your bank. The exchange rate may not be the best, but it'll be significantly better than the 20% plus "discount" rate they'll hit you with if you pay in U.S. Dollars (last week, the rate was $1 = 18.22 Pesos and they were allowing you to pay them at $1 = 15.66). If you intend to use taxis and other local services, try to get your bank to give you denominations of 200 pesos and lower (500s are hard to dump outside of hotels). Finally, if you ever intend to go to the mainland, paying in U.S. Dollars will most often not work at all.
Also, be aware that if you want to use your ATM or credit card, not all banks will take your card even if you're bank uses the Plus system (e.g., I couldn't use my Wells Fargo card at Bancomer in La Paz, but could at Bank Azteca, which is much smaller and charged 1/4th the fees). Outside of major tourist areas, credit card usage is barely an option. Both ATM and credit cards will give you the best exchange rate; just make sure your receipt says "MXN $" and not simply "$", as the company can claim the charge was in U.S. Dollars (though this rarely happens anymore and is easily disputable). Make sure your ATM card has a four digit PIN and withdraw the max allowable as you will be paying hefty fees there and at home to use it.Edited: 11 October 2017, 03:26
We've used the machines at La Comer for 7 years with no problems. They have a Scotiabank, Bancomer, HSBC, and Santander ATMs.