Checks and Cash

Generally speaking, when paying in cash, you’re going to want to use Mexican pesos (MXN) as opposed to American or Canadian dollars or some other currency. Some stores that cater to tourists will accept your dollars, but in most cases you’ll be getting a dismal exchange rate.

It’s much better to exchange your dollars for pesos at a bank, where you’ll get a better rate, or go to an ATM (they’re all over town) and use your credit or debit card to withdraw cash in pesos.

Once you’ve got your pesos, don’t carry a large wad with you around town. While it’s likely you’ll be fine, we’ve heard of lots of cases where someone left their wallet in a taxi or was targeted by a pick-pocket and poof, that wad was gone.

As for credit/debit cards, most larger establishments (large grocery stores, hotels and restaurants) do accept non-Mexican credit/debit cards.

However, some do not accept credit cards of any kind, so that’s something you’ll want to confirm before you treat your entire family to margaritas, enchiladas and flan, only to find out you have to pay in cash and all you’ve got is your credit card.

ATM Fees & Precautions

To get pesos, most people rely on ATM machines. However, you'll want to be aware of associated fees and our suggested precautions.

Before you come to San Miguel, check with your bank(s) to make sure you know what you will be charged for using your ATM card in Mexico. Some US and Canadian banks have cooperating agreements with specific Mexican banks, so as long as you withdraw your money at the cooperating bank, your hometown bank will charge you a lesser fee or none at all.

However, if the banks you use don't have agreements with Mexican banks, you’ll want to determine your bank's fees before you come. Banks may charge any-where from 1% to 3% on each transaction. You may also want to ask them how the exchange rate is calculated, as this can vary substantially from bank to bank.

Unfortunately, like many other international tourist destinations, San Miguel de Allende occasionally attracts scam artists, so be careful, and use an ATM that is inside a bank or hotel that has good security.