Money

Prices in this book are quoted most often in U.S. dollars. Some services in Mexico quote prices in dollars, others in pesos. Because of the current fluctuation in the dollar/peso market, prices may be different from those listed here, but we’ve done our best to give accurate rates.

A stay in one of Puerto Vallarta's top hotels can cost more than $350, but if you aren't wedded to standard creature comforts, you can spend as little as $40 a day on room, board, and local transportation. Lodgings are less expensive in the charming but unsophisticated mountain towns like San Sebastián del Oeste.

You can get away with a tab of $50 for two at a wonderful restaurant (although it's also easy to pay more). The good news is that there are hotels and eateries for every budget, and inexpensive doesn't necessarily mean bargain basement. This guide recommends some excellent places to stay, eat, and play for extremely reasonable prices.

Prices throughout this guide are given for adults. Substantially reduced fees are almost always available for children, students, and senior citizens.

ATMs and Banks

ATMs (cajeros automáticos) are widely available, with Star, Cirrus, and Plus the most frequently found networks. Your own bank will probably charge a fee for using ATMs abroad; the foreign bank you use may also charge a fee. You'll usually get a better rate of exchange at an ATM, however, than you will at a currency-exchange office or at a teller window. And extracting funds as you need them is a safer option than carrying around a large amount of cash.

Many Mexican ATMs cannot accept PINs with more than four digits. If yours is longer, change your PIN to four digits before you leave home. If your PIN is fine yet your transaction still can't be completed, chances are that the computer lines are busy or that the machine has run out of money or is being serviced. Don't give up.

For cash advances, plan to use Visa or MasterCard, as many Mexican ATMs don't accept American Express. Cash advances are allowed at most local ATMs, however it’s the most expensive way to get your money. It may be better to leave cash advances just for emergencies. Large banks with reliable ATMs include Banamex, HSBC, BBVA Bancomer, Santander, Banorte, and Scotiabank Inverlat. Some banks no longer exchange traveler’s checks; if you carry these, make sure they are in smaller denominations ($20s or $50s) to make it more likely that hotels or shops will accept them if need be. Travelers must have their passport or other official identification in order to change traveler's checks.

Banks

Banamex (Calle Juárez, at Calle Zaragoza, El Centro, Puerto Vallarta, Jalisco, 48300. 322/226–6110. www.banamex.com. Plaza Peninsula, Av. Francisco Medina Ascensio 2485, Zona Hotelera, 48300. 322/226–6103. Plaza Caracol L-31, Av. Francisco Medina Ascencio s/n, Zona Hotelera, 48310. 322/224–8710.)

Banorte (Paseo Díaz Ordáz 690 at Calle Josefa Ortiz. de Domínguez, El Centro, Puerto Vallarta, Jalisco, 48300. 322/222–3210. www.banorte.com. Plaza Lago Real, Calle Tepic 430 Ote, Nuevo Vallarta, Nayarit, 63738. 322/223–7796. Bd. Francisco M. Ascencio 500, Zona Hotelera, 48330. 01800/226–6783.)

Credit Cards

Credit cards are accepted in Puerto Vallarta and at major hotels and restaurants in outlying areas. Smaller, less expensive restaurants and shops tend to take only cash. In general, credit cards aren't accepted in small towns and villages, except in some hotels. The most widely accepted cards are MasterCard and Visa.

When shopping, you can often get better prices if you pay with cash, particularly in small shops. But you'll receive wholesale exchange rates when you make purchases with credit cards. These exchange rates are usually better than those that banks give you for changing money. U.S. banks charge their customers a foreign transaction fee for using their credit card abroad. The decision to pay cash or to use a credit card might depend on whether the establishment in which you are making a purchase finds bargaining for prices acceptable, and whether you want the safety net of your card's purchase protection. To avoid fraud or errors, it's wise to make sure that "pesos" is clearly marked on all credit-card receipts.

Before you leave for Mexico, contact your credit-card company to alert them to your travel plans and to get lost-card phone numbers that work in Mexico; the standard toll-free numbers often don't work abroad. Carry these numbers separately from your wallet so you'll have them if you need to call to report lost or stolen cards. American Express, MasterCard, and Visa note the international number for card-replacement calls on the back of their cards.

Currency and Exchange

Mexican currency comes in denominations of 20-, 50-, 100-, 200-, and 500-peso bills. Coins come in denominations of 1, 2, 5, 10, and 20 pesos and 20 and 50 centavos. (Twenty-centavo coins are only rarely seen.) Many of the coins are very similar, so check carefully; bills, however, are different colors and easily distinguished.

U.S. dollar bills (but not coins) are widely accepted in tourist-oriented shops and restaurants in Puerto Vallarta. Pay in pesos where possible, however, for better prices. Although in larger hotels U.S. dollars are welcome as tips, it's generally better to tip in pesos so that service personnel don’t have to go to the bank to exchange currency.

At this writing, the exchange rate was 13.43 pesos to the U.S. dollar. ATM transaction fees may be higher abroad than at home, but ATM exchange rates are the best because they're based on wholesale rates offered only by major banks. Most ATMs allow a maximum withdrawal of $300 to $400 per transaction. Banks and casas de cambio (money-exchange bureaus) have the second-best exchange rates. The difference from one place to another is usually only a few pesos.

Some banks change money on weekdays only until 1 or 3 pm (though they stay open until 4 or 5, or later). Casas de cambio generally stay open until 6 or later and often operate on weekends; they usually have competitive rates and much shorter lines. By law, no more than $300 can be exchanged per person per day, so plan in advance. Some hotels exchange money, but they give a poor exchange rate.

You can do well at most airport exchange booths, though not as well as at the ATMs. You'll do even worse at bus stations, in hotels, in restaurants, or in stores.

When changing money, count your bills before leaving the window of the bank or casa de cambio, and don't accept any partially torn or taped-together notes: You won't be able to use them anywhere. Also, many shop and restaurant owners are unable to make change for large bills. Enough of these encounters may compel you to request billetes chicos (small bills) when you exchange money. It's wise to have a cache of smaller bills and coins to use at these more humble establishments to avoid having to wait around while the merchant runs off to seek change.