Money Exchange in Isla Mujeres
During your visit on the island, you will need to exchange money in order to get by comfortably. Keep reading to find out the best ways to do it and the pros and cons of paying with cards and US dollars.
First things first
The official currency in Mexico is the Mexican peso, most businesses will accept American dollars and occasionally euros, and not all of them accept debit or credit cards. Note that if you choose to pay directly with dollars you are not going to get as good an exchange rate as exchanging it at an exchange house, since every business sets its own rate.
ATMs are a convenient way to exchange money in Isla Mujeres. There are several ATMs located around the island. Most of them accept major credit and debit cards, including Visa and Mastercard and they might charge a fee for international transactions or currency conversion. Check with your bank before traveling to Mexico to find out what fees you may incur.
Currency exchange booths are located throughout Isla Mujeres, particularly in the downtown area. These booths offer competitive exchange rates and are a good option if you need to exchange a medium-small amount of money. It’s important to compare rates at different booths before exchanging money to ensure you’re getting a fair rate.
If you prefer to exchange money at a bank, there are several banks located in the downtown area of Isla Mujeres. The banks that offer the best rates to exchange money on the island are Elektra, which is located on the north end of Av. Guerrero, or CI Bank which is located on Rueda Medina (the ferry street), heading north towards North Beach. You will need your passport.
Many restaurants, shops, and hotels in Isla Mujeres accept major credit cards, including Visa and Mastercard, but some of them might charge a fee. It is also important to notify your credit card company before traveling to Mexico to prevent your card from being flagged for suspicious activity.
There are many different ways to exchange money in Isla Mujeres and each one of them has pros and cons. The best option for you will depend on your personal preferences and the amount of money you need to exchange. Regardless of which method you choose, always compare rates and fees to ensure you’re getting a fair exchange rate. With these tips in mind, you’ll be able to exchange money with ease during your trip to Isla Mujeres.
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