The Ultimate Guide To Spending Money In Cabo San Lucas

Planning how much money you are going to spend on a vacation can be a little tricky. Many unforeseen expenses may arise that you cannot account for beforehand. However, we are here to help equip you with the ins-and-outs of spending money in Cabo San Lucas, so you are ready for whatever is thrown at you.

For first-time visitors, Cabo may be a little bit of a head spinner. It’s home to many 5 star resorts, as well as one of the most expensive marinas in the world. It’s also a place where you can find amazing street tacos on just about every other corner, and ride share anywhere you please around the city, all at a great deal when compared to the United States. All these things are going to come at a cost. Knowing when to spend your money, and how to use your money is important.

Can I use American Dollars in Cabo San Lucas?

The U.S. dollar is accepted in a wide majority of establishments in Cabo San Lucas. Whether it be a convenience store or restaurant, they will be happy to take your money regardless of the American president printed on it. 

Do I need to get Pesos for Cabo San Lucas?

As a tourist, it is important however to pay attention to the exchange rates while you spend American tender. For example, A single U.S. dollar generally converts to 20 Pesos. That being said, you must pay attention to different places' conversion rates. On an 18 - 1 exchange (rather than a 20 - 1), you are going to be losing money on each dollar you spend. Now, generally on smaller purchases, this loss will be insignificant to most because it might amount to cents or at most a couple of dollars. An optimist might simply sum this up and compare it to the same price paid for a foreign transaction fee on their credit card and not care about the money lost. On larger purchases, such as expensive dinners, or even a boat tour, you would want to pay attention to a conversion rate to make sure you are saving as much cash as possible to get the most out of your stay in Los Cabos. 

Can I use my credit card in Cabo?

As for credit cards, most major American Cards will be accepted in-store. Visa and Mastercard are going to get through on a majority of your purchases but for any American Express owners, you should ask before attempting to purchase due to certain establishments not accepting the card. Sadly for any Discover cardholders, the card has not yet been integrated into a majority of point of sale systems in Cabo, so it is unlikely that you will use this card. For any credit card, you wish to use it is important to see what your bank charges for a foreign transaction fee. In general, you can expect it to be around a 2.5% fee of what you are purchasing with the card. If this is of concern, it is best to check in with your bank and get the specifics or look at cash alternatives. 

Can I use my debit card in Mexico?

Your debit card will work, similarly to a credit card. It is not recommended to use a debit card as freely as you please due to fraud. Of course, at well-established restaurants or resorts, your card credentials are usually just as safe compared to using them in the states. If you feel like it might be a bad idea to use your debit card somewhere, in particular, it is safest to trust your gut feeling in the situation, and find an ATM or transact cash another way. You can never be too safe, and dealing with fraud in a foreign country is a mess you do not want to get into, and it is a fast way to ruin your vacation. Thankfully there is a limit to how much money can be withdrawn at once (USD 500), so you will not be looking at any sort of financial crisis.