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Travelers from the U.S. or Canada are used to relying heavily on cards. Sometimes, even places like cafés, stadiums, or boutique shops no longer take cash at all in those countries.
Los Cabos (which includes Cabo San Lucas and San Jose del Cabo) is different. Here, cash is often preferred; taxis, tips, small shops, and local eateries usually consider it their first choice.
Both dollars and pesos are in circulation, but pesos are the official currency and generally offer more value for your money. Cards are widely accepted, but you’ll miss out if you don’t carry cash. The question, then, is how to get pesos without paying the tourist premium.
Don’t Bring Pesos from Home
It may seem practical to order pesos from your bank before flying down, but it rarely pays off. Banks in the U.S. and Canada typically apply less favorable rates and add service fees. You also risk arriving with too little or too much cash. It’s easier, and almost always cheaper, to wait until you’re in Los Cabos, where banks, ATMs, and exchange houses give you fresher rates and more flexibility.
Banks: Best Rates, More Effort
If you want the most favorable exchange, local banks are the place to go. Branches of Banorte, Santander, BBVA, or Banco Azteca are all present in Los Cabos, and their rates are usually stronger than what you’ll find at hotels or exchange houses.
The trade-off is time: banks have limited hours, often close early, and you’ll need your passport to complete the transaction. Lines are standard, especially at busy times. Banks also limit the amount of U.S. cash you can exchange at once, which can require multiple trips for larger sums.
A helpful tip: if you want to know the official peso–dollar rate, check the Banco de Mexico website before you head out. The number you see posted there won’t always match what’s offered in town, but it gives you a reliable benchmark to compare against.
ATMs Inside Banks: The Sweet Spot for Tourists
For most visitors, the easiest way to get pesos is by withdrawing directly from an ATM inside a bank branch. The rates are usually close to what the bank itself offers, and the process is quick: no waiting in line, no paperwork. Machines located inside banks are also more reliable, with fewer technical issues than stand-alone ATMs you see at convenience stores or on street corners.
Withdrawals come straight from your home account at the bank’s rate. Depending on your card, you may incur small international fees; however, even with these, the net rate is often better than what you’d get at a resort or exchange house.
For convenience and value combined, bank ATMs strike a balance that works well for short-term travelers.
Exchange Houses: Quick but Variable
Casas de cambio, or exchange houses, are scattered across Los Cabos, and the experience is mixed. Rates can swing from close to bank levels to far less favorable, and there’s no guarantee you’ll land a good deal.
Like banks, you may also face lines, only in less comfortable surroundings. Many exchange houses may feel less polished than bank branches, although they are still safe. They work for small, last-minute needs, but relying on them for everything can be frustrating.
Resort Desks: Convenient but Costly
Resort desks are the definition of easy: you can walk down from your room, hand over dollars, and walk away with pesos in minutes.
The trade-off is price. Hotels usually offer weaker rates than banks or ATMs, and that convenience comes at a cost. For a quick top-up (enough for tips or a taxi) it can be worth it. But if you’re changing larger sums, you’ll get more value by stepping outside.
Airport Exchanges: A Quick Fix, Not a Solution
The exchange counters you see after landing are helpful if you want a little cash in your pocket right away. They’re reliable and open when banks aren’t, but the rates are rarely competitive. They’re fine for a taxi or a coffee, but not your primary source of pesos. Once you’re settled in Los Cabos, you’ll find better value at banks, ATMs, or even a nearby casa de cambio.
Paying with U.S./Canadian Cards
Credit and debit cards from the U.S. and Canada are widely accepted in Los Cabos, particularly at hotels, large restaurants, and tourist-oriented shops. For larger purchases, paying by card is a straightforward process.
Still, cards don’t cover everything. Taxis, tips, street vendors, and some local eateries remain cash-only. Foreign transaction fees can also eat into the convenience.
Using cards works well for part of your trip, but having pesos in your pocket ensures you’re ready for the moments when plastic isn’t an option.
The Bottom Line on Los Cabos Cash
Los Cabos may welcome dollars and cards, but pesos are what make the city run. Having them in your wallet changes small daily interactions: how you pay a taxi driver, leave a tip, or buy tacos on the beach. Rates differ across town. What matters is not memorizing numbers but knowing that you have choices. With pesos in hand, you move through Cabo on local terms, and that makes every exchange smoother.