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6 Oct 2023
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Local Tips

Riviera Maya, stretching from Cancun to the shores of Sian Kaan, offers not just scenic splendor but also unique monetary dynamics. Ensuring a delightful stay means mastering the financial intricacies of the region. Here's your key to unlocking this aspect of your travel.

Pre-Travel Card Essentials

Before jetting off, it's crucial to ensure your credit and debit cards are primed for international use. Cards such as the Wells Fargo Autograph Card, Bank of America Travel Rewards, and the Capital One Venture One Rewards Credit Card stand out. They not only have NerdWallet's approval but also come sans any annual fees.

The Reign of Cash

In the heart of Riviera Maya, cash holds a significant sway. Upon landing, heading to a RED ATM for a withdrawal is a wise move. This readies you for cash-only establishments and ensures you're always prepared for tipping. Given that Mexico's service industry leans heavily on tips, cash remains indispensable.

Choice of ATM Matters

As you delve into the financial landscape, zeroing in on an ATM of a reputable bank labeled 'RED' is recommended. Trusted banks like Scotiabank, HSBC, Santander, and Banorte are known to give decent exchange rates. On the flip side, independent ATMs like Cashola can prove costly due to their high rates. There additional steps to procure the best exchange rate at ATMS like selecting your home bank during withdrawel.

Dollar Usage Insights

Handling dollars can be intricate due to fluctuating exchange rates. At the time of writing this, the rate stood at 17:1, with some money exchange businesses offering 15:1. When relying on dollars, it's vital to give a bit extra, especially when tipping. This ensures service providers like housekeepers and servers don't face a shortfall when converting.

Plan Ahead

Riviera Maya, with its azure waters and golden sands, promises a paradise. Being savvy with your finances ensures your vacation remains nothing short of idyllic. Contact us for more information about your upcoming trip to Riviera Maya and our team of local experts will gladly guide you to the answers you need.