Payment methods in Mexico

Priscilla wrote:

Hello everyone,

Once youre settled in Mexico, you will need to make some basic purchases, like groceries or pay bills. Hence, it is essential to know the payment methods available in your host country.

Which are the most common payment methods in Mexico? Why would you prefer some forms over others?

Does the amount of money or the type of paid services (groceries, bills, rent, etc.) determine the choice of payment methods?

Are there any apps at your disposal which make the payment process easier in Mexico?

Can certain foreign currencies be used to make payments?

Have your habits in terms of payment methods changed since moving to Mexico?

Thanks for sharing your experience,

Priscilla

Hi Priscilla,

I almost exclusively use cash for everything.

For rent and my car insurance, I deposit the amount into their account. That is their preferred method of payment. On rare occasions or for big-ticket items I use my card from my Mexican bank.

I have found you have to be very careful about where and when you use a credit card. I limit my card use to hotels while traveling which is much safer. Even with being very careful I have had two problems in the last seven years. Both were in Cancun. So If I don't have the cash, no matter how good the deal is, I don't buy there with a card except for a big name brand hotel or two stores I have a long history with.  That brings up the ATM issue. Use a bank that is secure, avoid the ATMs out in Public.

My attitude is the same everywhere and it has kept me safe in Mexico as well as other countries. In the U.S. I got a major credit card hack while traveling for business in Atlanta. Very slick, they didn't use my account for two years then started charging on my account.

Here I'm careful about cards and so are they. Tourist spots like T.J. and Cancun like the U.S. dollar. They probably figure the tourist won't know the current exchange rate or understand Mexican currency. In many cases they are right. Other parts of Mexico want to deal with money they know.

Travellight, you have answered the question spot on.
Absolutely my answer as well.

I agree. The question has been well-answered. I will simply take it a step further and note that you can pay some of your bills online (e.g., electricity and phone), but only if you have a Mexican credit card. I have had no luck setting this up with a US card. We live in a small town and it is very convenient to go to Tel-Mex and CFE and pay our bills in cash - there are several ATM-type machines that will accept our payment in pesos.

One more thing - if you are visiting Mexico, please use pesos and do not assume that the Mexican businesses want your US or Canadian dollars. In order to avert money laundering, the Mexican banks have strict limits on how many US dollars can be deposited in one day, which makes it very difficult for businesses who accept dollars. Does the Burger King in Dallas accept pesos? Of course not. Show the proper respect and pay in pesos, which you can get at any ATM easily. But as the previous poster advised, use an ATM that is physically located within or just outside a bank. Much less likely to have problems with skimming/cloning.

Cash is Rey in Mexico.

MexicoKaren wrote:

Does the Burger King in Dallas accept pesos? Of course not.

Actually, I was in a McDonalds in El Paso that did.

Hello
We are just now after 6 months as tourists finishing up our Residente Temporal, do no Mexican bank yet.
I pay usually at a bank machine for elec., water, Mercado Libre purchases. BUT very recently found app
UnDosTres and am able to:
1 recharge Mexican cell
2 pay electric
3 pay cable
4 recharge toll tag (Mexican)
all charged to my USA credit card

Also now Mercado Libre is taking my USA card
Water company is taking my USA card
I am in Cuernavaca 🌴🌴🌴🥰

Watch out for foreign transaction fees.