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  • New Mexican Law on Accepting US Dollars

    9/13/2010 3:01:24 PM Link |  | Add comment

    The Mexican Government passed a new law which goes into effect in Mexico

    beginning September 14, 2010. With this new law, the use of American Dollars

    (CASH) 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 freely using

    American Dollars (CASH) in Mexico will notice the difference. Other payment

    methods such as credit cards of all types and all issuing banks, Travelers Checks,

    Mexican pesos and non-American foreign currencies (such as Euros or Canadian

    Dollars) are not affected in any way by this new law.

    The most noticeable differences to  customers 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 for any purchase at all (this may include shops, etc).

    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 of this amount in USD

    CASH and the remainder will need to be in another form of payment (credit

    card, Mexican pesos, etc).

    Vacationers should never carry large amounts of American dollars with them to

    Mexico, but instead they should consider either using a Credit Card, taking or

    locally withdrawing Mexican Pesos, or use Travelers Check’s (of any currency).

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