New Mexican Law on Accepting US Dollars

The Mexican Government passed a new law, which comes into effect in Mexico starting September 14, 2010.  I wanted to share the information, which I have received from our off offices in Mexico so everyone is aware.

Starting September 14, 2010 the use of CASH American Dollars to make purchases in Mexico will not be as free as it has been in the past.

Many repeat guests to Mexico who have become accustomed to using American Dollars CASH in Mexico as though they were effectively in the United States will notice the difference. Other payment methods such as Credit Cards of all types and all issuing banks, Travelers Check’s, Mexican Pesos and non American Dollars foreign currencies in cash (ex Euros or Canadian Dollars) are not affected in any way by this new law.

The most noticeable differences to Apple Vacations’ customers will be:

  1. Hotels and Exchange Booths will only be able to change a maximum of $1,500 USD CASH per person per month into Mexican Pesos. Previously there was no limit.
  2. Businesses (including Amstar DMC in Mexico) will only be able to accept a maximum of $100 USD CASH per transaction – but the number of transactions per customer is not restricted.
  3. Certain businesses may not be able to, or may choose not to accept American Dollars CASH for any purchase at all (this may include shops etc)

If a customer wants to purchase an excursion (for example) that costs $139 US dollars per person, he/she will only be able to pay $100 USD of this amount in USD CASH and the remainder will need to be in another form of payment (credit card, Mexican Pesos cash, etc).

Vacationers should never carry large amounts of American Dollars cash with them to Mexico, but instead they should consider either using a Credit Card, taking Mexican Pesos cash, taking Travelers Check’s (of any currency) or withdrawing money locally in Mexican Pesos.

I know I do that myself on vacation, when I land in resort, I seek out an ATM machine and withdraw money in a foreign currency. I hope you find this information helpful.

17 thoughts on “New Mexican Law on Accepting US Dollars

  1. When we go, we put most of our money on “gift” bank cards. Our bank does not do travelers checks any longer. This is their new thing. You scan them like a credit card, and it just deducts the amt. Im assuming this will still be ok? We use it mostly for paying for the excursions.

  2. Well…the Mexican Gov’t seems to have lost interest in collecting money from Americans. I wonder if their economy is doing so well that they can afford to lose this extra source of revenue.

  3. The Mexican government is not against ligitmate American tourists. It is against money laundering from drug monies, mostly in the boarder towns. Unfortunately this affects the whole country. But the rules do not seem too restrictive, so I don’t see a problem. Besides do you accept Pesos in your place of business in the United States?

  4. as i write this reply i am in los cabo mexico in a resort and as of yesterday we were told the hotel can exchange us money but a photocopy of your passport and immigration card are required and kept somewhere permanantly. NOT a good idea for anyone travelling to do as the risk of identity theft is high.

  5. I am in the rivera maya right now and was not aware or informed of this change and it has been a nightmare trying to get my money exchanged. They do want a copy of your passport and it takes forever. They just have you wait so long that you just say forget it. This is unfair and making Americans feel singled out.

  6. Why is Apple Vacations the first to post this new law. And when they posted it, the did not make it an article or warning, they posted it as a Rule to a contest they were having.

    I can not find this information on any reliable Mexican Government, US Government, New Site, or Investment site.

    I feel it is propaganda from the less desirables in Mexico to get US travels to US their Debit/Credit cards at ATM’s and Stores, so they can skim your information and make more money.

  7. Just back from cancun. We found it very hard to change US to Peso. Banks and even our hotel ” Crown Paradise Club ” would not exchange any amount of US. No problem with Euro or Pounds. It made us feel like they are rejecting US business.

  8. I understand why this new law is in effect, but I am not exchanging us dollars in order to give someone a five dollar tip. I am sure that a Mexican citizen working a resort knows how to exchange a five dollar bill into pesos.

  9. Its not just happening in Mexico. I had some friends shorten a trip in Europe due to the same thing.This is a lot deeper than most of us understand. The US dollar is loosing its credibility as the money standard in the world due to our dept. We keep printing paper, but we can’t back it up anymore. Dig deeper folks and do some research.We can’t retire the debt we have gotten ourselves into and the world’s monetary bankers are more than aware of this.

  10. The world’s currency is based on the US Dollars as being the world reserve currency. This is a huge indication of what is about to take place. This is not paranoia it is about the dollar no longer being the reserve currency. Russia and China are already trading in their own currencies. Customarily world trade has been converting into dollars to conduct purchasing. It is no longer the case and is changing rapidly. Start digging deeper folks. The fan is already taking a load. It is happening now. The internet is a great research tool ,use it!

  11. Credit Cards are being denied for routine payments! Visa and Mastercard included. Lots of places no longer accept payment by US or Foreign credit cards only Cards issued by Meixcan Banks! Commmericial Meixcano, Telnor to start with and the list is incrasing as of last month- Mya 2011. Guess Mexico does NOT want your business. Should not have been a problems since the Mexican Banks receieve fees for transacting foreign banks.

  12. This law is a surprise to us. As US Citizens, we’ve traveled to Mexico (Mayan Riviera) twice since this law has been passed and we never had any issues paying US Cash.

  13. goods, paste protective film, making the phone more coordinated fashion. So we get the Macworld awarded the Best Product Innovation Award. But the first does not mean always come first. We firmly believe that consumers around from the perspective around health, optical, practical ideas go, when consumers buy products with rational return, and to enhance product awareness,

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