Our first few trips we took them, but in order to cash them at a bank you needed to have a passport and many places just don't want to deal with them any more. If anyone asks, I tell them what works best for me: my ATM card. Best exchange rate going, what with my credit union's affiliations which include most or all of the banks in the CARM area. I've paid no exchange fees or any fees for using another bank's machines. Occasionally I'll run into a private machine that a store has and gets a small cut, but that's never been over 30 pesos. Just don't ever use a credit card for a cash advance from an ATM down there. Cash advances are expensive anywhere and all sorts of fees apply. Some folks are leery of using their debit/ATM cards in Mexico. Many have found a solution in purchasing a pre-paid Visa cash card. We've had no experience with those, so I can't speak from experience, but they seem to be happy with them.

gracias Craig. tim

We used to rely on Traveler's Cheques quite heavily. But, as Craig said, redeeming them has become more of a hassle. AMEX wants to be called for a verification code to cash their checks. Many Casas de Cambio ask for a Passport - which we're not in the habit of carrying on a day-to-day basis down there.

The prevalence of ATMs on the Riviera Maya makes Cash Cards a much more attractive option. We opened an account with Bank of America specifically for the Cash Cards that can be used at their Global Alliance ATMs.

Dave

The last time I used traveler's checks, the casa de cambio gave me a lesser exchange rate than if I had exchanged cash. So first I paid a premium to GET the checks and then I ended up paying a premium to USE them. I take cash and supplement it with a visit or two to the ATM.