Changes to US Dollar acceptance in Mexico
The Mexican Government passed a new anti-money laundering law that took effect as of September 14, 2010 in regards to the acceptance of the US Dollar. As a result, the use of American Dollars (CASH) to purchase goods and services in Mexico will change. Payment methods such as credit cards, Travelers Checks, Mexican pesos and non-American foreign currencies (such as Euros or Canadian Dollars) are NOT affected by this new law.
- Local Banks, Hotels and Exchange Booths will only be able to change up to $1,500 USD CASH per person per month into Mexican Pesos. Previously there was no limit.
- Businesses (including restaurants, shops, and DMC's) can only be able to accept a maximum of $100 USD CASH per transaction - but the number of transactions per customer is not restricted.
- Certain businesses may not be able to, or may choose not to accept American Dollars for any purchase at all (this may include shops, etc), however still accepting Mexican Pesos.
- If a customer wants to purchase an excursion (for example) that costs $150 US dollars per person, customers will only be able to pay $100 of this amount in USD CASH and the remainder will need to be in another form of payment (credit card, Mexican pesos, etc).
- Airlines are advising that within Mexico, they will only accept Mexican Pesos and credit cards for any fees (including baggage fees).
Vacationers should never carry large amounts of cash with them abroad, but instead they should consider either using a Credit Card, taking or locally withdrawing Mexican Pesos from an ATM (very easy and convenient), or use Traveler's Checks (of any currency).
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