New Mexican Law Regarding US Dollars
The Mexican Government passed a new law, which comes into effect in Mexico starting September 14, 2010.
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 will be:
* 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.
* 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.
* 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 at the resorts or in Playa del Carmen or in Cancun shopping malls, etc.) Or put you "monies" on bank gift cards that are backed by VISA or MC.
* 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.