On September 14, the Mexican Government passed a new law, which goes into effect regarding the use of US Dollars in the form of cash when making purchases in Mexico. Fortunately credit cards, debit cards, travelers checks and non-American (USA) currency is not affected by this new law.
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 Canadian Dollars) are not affected in any way by this new law.
The most noticeable differences for customers will be as follows:
- Hotels and currency exchange booths and local banks will only be able to change a maximum of $1,500 USD per person, per month into Mexican Pesos. Prior to September 14 there was no limit.
- Businesses will only be able to accept a maximum of $100 US Dollars 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 US Dollars for any purchase at all (this may include restaurants and shops).
As an example, if a customer wishes to purchase an excursion that costs $125 US Dollars, $100 can be accepted in US Dollars and the rest must be paid with credit card or Mexican Pesos.
