I just went through an interesting experience in exchanging money in my bank in Mexico and think that it will serve as a useful lesson for my readers. It is another example of the difference between a truly consumer oriented society like the United States and one that has a different orientation like Mexico.

North Americans love to shop and are eager to do so when in Mexico since there is such an array of beautifully hand made articles. The list of goodies is almost endless: copper, silver, gold, textiles, leather, wood, clothes, shoes, bags, liquor. We love to shop so much that we often take for granted the ease with which we can do so in America. We really have become a cash-less society and have come to expect that almost every establishment will accept credit cards or personal checks. But this is not the case in Mexico.

One question tourists often ask is: How can I get money? While it is certainly easier today than it was in the past to obtain extra money in a foreign country it is still not a breeze. Here is some information for you to consider as you plan how to be prepared for those lovely purchases.
Personal checks. Leave these at home. It is nearly impossible to cash a personal check.
(Well, you might have one tucked away for a true emergency or for the unusual shop owner (like me) who will accept a check drawn on a US bank)
Traveler’s check: In many cities it is still very difficult to exchange traveler’s checks. The advantage is, as we all know, that if you do have them and they are lost, your money will be replaced. Nevertheless, if you have a credit or debit card I would advise you to make use of them rather than rely totally on traveler’s checks.
ATM Credit/debit card. Computers have certainly facilitated the use of ATM machines when traveling. However, they are not without some snags. Sometimes the machine is out of money, sometimes the machine “eats” your card which means that you have to present yourself in person with your passport at the convenience of the manager to retrieve the card, and sometimes banks charge an extra fee for withdrawing money from a foreign ATM. If all goes well, this is probably the easiest and most secure way to obtain money.
Credit card charge. These days in Mexico credit cards are widely accepted with the exception of American Express. In smaller cities you may encounter problems in finding establishments that accept any credit card. A rule of thumb should be that the more “off the beaten path” you are then it is better to not rely on making your purchases with credit cards. And for those who expect to make large purchases it is also advisable before leaving the States to notify your bank that you will be out of the country so that they can expect charges from Mexico. Many times when traveling in other countries on buying expeditions for my shop (www.MilagrosParaTi.com) I have forgotten to notify my bank and the card has been denied. While this is embarrassing it is usually resolved with a phone call. (Finding a phone to use is a whole other article!)
Cash. This is my most recent lesson. I returned from the States and brought a significant amount of cash in US dollars to exchange and deposit in my Mexican bank account. Imagine my surprise when about half of the bills were denied! The moral is this: if you bring cash (which is always a little risky) the bills must be crisp, clean and without any creases. Go to your bank and ask for new bills otherwise you may find yourself carrying around useless cash which can be lost or stolen.