Money in Mexico

1. What currency is used in Mexico?

In Mexico we use the Mexican Peso (MXN).

2. How much money should I bring?

This depends on your traveling style, but we estimate that, in addition to tuition and lodging, $85 USD to $100 USD a week should be enough for you to live comfortably in Cuernavaca and visit other, nearby places. We strongly recommend using traveler’s checks and cash them as you need them; there are several banks and currency exchange offices throughout the city.

3. ATMs

There are numerous ATMs in Cuernavaca that dispense cash in pesos. It is important to bring your debit or credit card with your personal identification number (PIN). Most ATMs accept VISA, Master Card, Plus, Cirrus, Red and others; ask your bank about using your cards in other countries.

4. How do I exchange money?

The best place to exchange money - in cash or traveler’s checks - is in banks, because they offer the best exchange rates. Currency exchange offices are the second choice, although when you are in Cuernavaca it is a good idea to check the exchange rates at two or three places before deciding on the best one. To exchange money it is important to bring an original identification with you.

5. Are personal checks accepted?

Personal checks are not usually accepted in Mexico. We do not recommend using them in Mexico. At Ideal we accept personal checks as payment for tuition and lodging.