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Best place to cash travelers checks???

In cooperation with: Visit Mexico
Seattle, WA
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23 posts
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Best place to cash travelers checks???

I'm going down to PV next Sunday and was wondering if anyone had any advice on getting the best exchange rates. I���ve heard not to do it in the hotels because their rates aren't as good. Any advice? Thanks.

Lodi, California
Destination Expert
for Cabo San Lucas
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24,752 posts
53 reviews
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1. Re: Best place to cash travelers checks???

We always just do it at our resort. The rate is so good right now that it makes very little difference. Just our personal choice.

Chicago, Illinois
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612 posts
8 reviews
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2. Re: Best place to cash travelers checks???

You'll get a very good rate (tons better than hotels) if you bring your traveler's checks to one of the numerous currency exchange booths around town. Most places post the day's exchange rate on a sign US and Candian. They don't charge a fee and all you'll need to get your pesos is your ID. They will also give you a receipt which shows how they arrived at the amount you will be given. We've been doing this for years. Totally safe and besides the banks (where there can be lines), the best rate possible, I believe.

Lodi, California
Destination Expert
for Cabo San Lucas
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24,752 posts
53 reviews
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3. Re: Best place to cash travelers checks???

I will remember that-but since we literally only loose a couple of cents, we will probably still be lazy.

Winnipeg Canada
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101 posts
1 review
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4. Re: Best place to cash travelers checks???

Just got back from PV Feb 22nd. The hotels offer a much lower exchange rate than the "money exchanges". The closer to get to downtown the better the rate. Our hotel gave 8.0 pesos to the Canadian dollar. The money exchange by out hotel gave 8.45. Down town we got has high as 8.70 Happy Spending.

Puerto Vallarta
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10,893 posts
29 reviews
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5. Re: Best place to cash travelers checks???

H.S.B.C. bank requires A PASSPORT to cash travelers checks as well as many casa de cambios. This is a new rule and soon all travelers checks will require a passport to cash.

The reason is the Mexican goverment is keeping closer tabs on the money being brought in.

Puerto Vallarta...
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12,464 posts
67 reviews
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6. Re: Best place to cash travelers checks???

We always recommend that our visitors use Instabanks (Canadian bank cards) or Credit Cards. The worst possible rate is hotels. I agree that many of the Exchange houses downtown are good too.

Joliet, IL
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190 posts
85 reviews
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7. Re: Best place to cash travelers checks???

We returned from PV a week ago. I consistantly got the best rates at the American Express office downtown.

San Luis Obispo...
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240 posts
6 reviews
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8. Re: Best place to cash travelers checks???

I don't take traveler's checks to PV. Just a few pesos to get started, and then go the ATM with my bank card for more pesos. Best exchange rate!