Payment Forms Accepted
We accept a wide variety of payments including credit cards, bank transfers, pesos, US Dollars, Canadian Dollars, Euros, and even paypal. Please consider the following when deciding what form of payment is best for you.
Credit Card Payments
When you pay with Visa, Mastercard, or debit cards, the transaction will be processed in Pesos and your bank will handle the exchange rates. When the exchange rate is higher than normal you may enjoy a lower net price because the exchange rate your bank may be giving you on your credit/debit card could be higher than the exchange places and banks here may give you. American Express is not currently accepted.
Prices in Pesos
Our prices are set primarily pesos, and of course for the ease of tourists, Canadian and American Dollars. There can be some fluctuations in the dollar, and peso, but we have over the years tried to remain as consistent as possible with prices. Since 2009 there has been very little movement on the prices in USD, in some cases, because of currency fluctuations, the price has actually come down in US Dollars on some items. At one point, the Canadian Dollar was actually worth more than the USD, and of course that was making a lot of Canadians very happy. In 2015, we saw quite a change in that relationship, and the value of the Mexican Peso, and Canadian Dollar has been fluctuating constantly over the past few years.
Exchange Rates Explained
When you try to understand “what is the exchange rate” it can be a complex subject. There is the online daily exchange rate you may get from an app you have on your phone, or from yahoo finance or something like that. This is a market indicator of how much the US Dollar is truly worth in Pesos when traded between institutions at a high level. What about those of us who are not multi-billion dollar banks? We have to trade our pesos and dollars at a bank, or an exchange business. This image shows the differences in how you either are buying pesos, or buying dollars.
This photo is from around election time in 2016 when there was a spike in the exchange rates. In this example, buying pesos with your dollars, each dollar will give you 18.7 pesos. Now, lets say you had too many pesos, and had some leftovers when you’re vacation is done, and you go back to the bank and ask for some dollars back. In this case, you would be paying 20.3 pesos for each dollar you want back. This helps you to see the situation we live with in Mexico. When you have something you want to sell to the bank, they want it cheap, but if you want it back, they will sell it to you at a higher price.