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Important News about Changing Money

Important News about Changing Money

Royal Resorts would like to draw the attention of members and guests to the following:

On December 20, the Mexican Government amended the federal law it introduced in the summer of 2010 to regulate money changing, specifically with regard to US Dollars. The legislation is part of its campaign against organized crime and money laundering and affects banks, bureau de change, hotels and other businesses.

Royal Resorts would like to inform you of the changes so that you may take them into account during your upcoming vacation:

  • Mexican members and guests may change up to $300 US Dollars per day, per person during their stay or the month. The maximum amount they are permitted to change during their stay or the month is $1,500 US Dollars. A copy of their passport or credential to vote (IFE) must be provided.
  • Non-Mexican members and guests may change up to $1,500 US Dollars per person during their stay or the month. A copy of passport and immigration form, if applicable, must be provided.
  • In addition, any Member or guest can now pay up to $250 US Dollars in cash per transaction for meals and purchases at restaurants, stores, boutiques, supermarkets, etc. A copy of the corresponding official ID must be provided.
  • This measure only applies to dollar bills; it does not apply to travelers’ checks at this time.
  • We would also like to remind you that you may use your Visa or MasterCard credit card (no American Express), debit cards or traveler checks to pay your Club Bill on Friday in preparation for Saturday check out.

We will keep you informed of any additional changes. If you have any further questions, please do not hesitate to contact us.

This information is required in order to provide the service mentioned above.  Your privacy will be protected according to the guidelines of the Privacy Policy.

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Comments (57)

  • Lloyd Rosenkranz

    Just to let people know that Capital One does not charge for money exchanges. Also inform the credit card company when you will be away ( dates and where ) and not to except purchases for gas or electronics which is the most widely used area for stolen cards.

  • jgreen

    Dear MBruner: Thank you for writing to Royal Resorts News. Yes, you may use Visa or MasterCard credit or debit cards (no American Express) to pay your club bill at the end of your stay. I hope that this helps, please let me know if I can assist you with anything else in the run up to your vacation.

  • mbruner

    I understand the rules regarding cash transactions have changed recently. I just need to clarify if debit cards (visa/mstercard) can be used to pay club bills at the end of our stay? The information on the website ie a little confusing so I need to make sure before we arrive May 7th.

    Thank you

  • jgreen

    Dear Brenda: Thank you for writing to Royal Resorts News. We appreciate your concerns, however we would like to remind you that the regulation applies to dollar bills only, it does not apply to traveler’s checks.
    You may pay up to $250 US Dollars in cash per transaction for meals and purchases at restaurants, stores and boutiques, etc. A copy of the corresponding official ID must be provided.
    Another option is to use the ATMs at local banks to withdraw money from your account in pesos or to use your debit or credit card for purchases.
    You may use Visa or MasterCard credit cards, debit cards or travelers checks to pay your Club Bill at the end of your Royal Resorts stay.
    I hope that this helps.

  • B Diane Landon

    Dear Brenda,
    I appreciate the Mexican government attempts to curtail money laundering. However, in the past I averaged $1000 a week at the resort and I stay 3 weeks or longer. To stay under the $1500 limit for my 3 week visit this year I will have to really really cut back on spending. I cannot purchase pesos locally so have to wait until I arrive to change money. In the end this hurts the tourist industry of Mexico.
    B Diane Landon

  • jgreen

    Dear Brenda: Thank you for writing to Royal Resorts News.
    In response to your question about The Royal Sands, the living room sofas were replaced in 2008 and 2009, pillow top mattresses were purchased in 2010 and a Wi-Fi connection was added in the villas and throughout the resort. New 37″ LCD TVs are being installed in the living rooms and kitchen appliances such as fridges, dishwashers, stoves and microwave ovens are gradually being replaced.
    You might like to take a look at our 360˚ tours of the villas and other areas at The Royal Sands, available on http://www.royalresorts.com Here is the link, use the menu on the left hand side of the page to select the tour you would like to take and wait for a few moments as the images upload. http://www.royalresorts.com/the-royal-sands-360-virtual-tour.asp
    I hope that this information helps and that you enjoy your online tour of the resort. We look forward to welcoming you to your home in paradise soon.

  • Brenda Cummings

    We have not been to the Royal Sands since 2003, has the decor in the villa been upgraded since then? How do we see the pictures.

    Thank you,
    Brenda Cummings

  • jgreen

    Dear Hildia: Thank you for writing to Royal Resorts News. I will check this for you. I was under the impression that deposits in US dollars were still accepted but that the amounts had been reduced.

  • jgreen

    Dear Cindy:
    Thank you for writing to Royal Resorts News, you can use the “Ask Joanna” section of this website if you would like to post a comment or ask a question. If you are referring to the Royal Resorts website at http://www.royalresorts.com, the Member’s Message Board is located in the Members Only section. You’ll find the link to it on the top right hand side of the home page at “Are you a Member” You will need to log in with your email and PIN. The Members Message Board is listed in Membership Services. I hope that this helps.

  • Cindy

    I haven’t been to the website in about a year. I’m looking for the ‘blog’ part where members post on various topics. Can anyone point me in the right direction?
    Thanks!

  • Hildia McDonald

    Money involved in drug trafficing and money laundrying
    is only part of the problem. HSBC will no longer take
    deposits of the American dollar at their banks in Mexico.
    The problem is other countries are afraid they are going
    to “get stuck” with American dollars when not if the
    American dollar is devalued.

  • jgreen

    Dear James:
    Thank you for writing to Royal Resorts News. Euros are not covered by the new legislation, it only applies to US dollar bills at this time.

  • James Ray

    Dear Sirs,

    What about Euro’s ? (European money ?)

    Is there new legislation for Euro’s exchange
    to Mexican peso’s too ?

    thank you

  • P Moran

    When in Cancun before and after my interval week 12, may I as a member purchase meals, beverages and items at the tienda at the Royal Resorts and pay in pesos or u. s. dollars.

    Thank you.

  • jgreen

    Dear Becky: Thank you for writing to Royal Resorts News. I regret to inform you that personal checks are not accepted as payment for your Club bill at check out. You may settle your account in Mexican pesos, U.S. dollar bills up to the permitted amount ($1,500 US per person during your stay or per month, if you decide to keep your dollars to para your bill instead of using them during your week), Canadian dollars, Euros, U.S., Canadian or Euro travelers checks or Visa and MasterCard. I hope that this helps.

  • jgreen

    Dear Judy: Thank you for writing to Royal Resorts News. We have had a lot of feedback about the shuttle and we apologize for the inconvenience that this reduction has caused. I would like to stress that it is still available but with hourly departures from The Royal Islander starting at 8 a.m. until 8 p.m. on the hour with a final bus at 10 p.m. and from The Royal Sands from 8:30 a.m. until 8:30 p.m. on the half hour with a final departure at 10:30 p.m. during the week and with a limited service on Saturdays.

  • Franklin S. Goins

    I am leery of using credit cards in Cancun and use cash instead. Several years ago, my daughter’s bank called her in NY to say that a suspicious transaction had just occurred and whether she was responsible for it. My daughter informed them that she was in NY and her card was in her possession. Apparently, two years earlier on my daughter’s previous trip to Cancun someone at an upscale store had run off a fictitious credit card transaction voucher using my daughter’s card and just put it through recently.
    Can we be assured that the banks and stores in Mexico have appropriate security procedures in effect that may allay our concern that we might fall victim to identity theft or fraud?

  • Becky Laney

    Wondering since we are royal members, can we pay with a personal check at check out?

  • Judy

    Joanna — What is the feedback from members about the limited shuttle service?

  • jgreen

    Dear Edward, Thank you for writing to Royal Resorts News. I believe that a copy suffices in the resorts because you will have to show the original passport the first time you change money, however you will have to show your original passport for transactions outside the resorts. With regard to your second question, you are currently permitted to change $1,500 US in cash per person during your stay or the month . Travel checks are not covered by this regulation and you may also make ATM withdrawals. I hope that this helps.

  • Edward Seremet

    Do we have to show original Passport each time we make a purchase under $100.00or will a copy suffice?

    Can two people change $2000.00 per one week stay and then pay their bill in cash of $1000.00 at the end of the stay?

  • jgreen

    Dear David: Thank you for writing to Royal Resorts News. You may use US dollar bills to pay your Club Bill at the end of your stay but bear in mind that you will only be able to change $1,500 US per person during your stay. Visa and MasterCard are accepted, as are travelers checks.

  • jgreen

    Dear Amelia: Thank you for writing in. The new legislation applies to US dollars and affects banks, bureau de change, hotels and other businesses.
    • Mexican members and guests may change up to $300 US Dollars per day, per person. The maximum amount you are permitted to change during your stay or the month is $1,500 US Dollars. A copy of passport or credential to vote (IFE) must be provided.
    * Non-Mexican members and guests may change up to $1,500 US Dollars per person. The maximum amount you are permitted to change during your stay or the month is $1,500 US Dollars. A copy of passport and immigration form, if applicable, must be provided.
    • In addition, any Member or guest can pay in cash up to $100 US Dollars per transaction for purchases made after check out, i.e. meals and purchases at the restaurants, stores, boutiques, etc. A copy of the corresponding official ID must be provided.
    • This measure only applies to dollar bills; it does not apply to travelers’ checks at this time.
    * Visa and MasterCard are accepted at Royal Resorts.
    * You may use your cash card at local ATMs to withdraw Mexican pesos.

    I hope that this helps.

  • jgreen

    Dear Faith:
    Thank you for writing to Royal Resorts News.
    Here are the details again:
    As part of Mexico’s campaign against organized crime and money laundering, the Federal Government has passed a reform to regulate money changing, specifically with regard to US Dollars. This new legislation affects banks, bureau de change, hotels and other businesses. Royal Resorts would like to inform you of the changes that it entails so that you may take them into account when planning your vacation:
    • Mexican members and guests may change up to $300 US Dollars per day, per person. The maximum amount you are permitted to change during your stay or the month is $1,500 US Dollars. A copy of passport or credential to vote (IFE) must be provided.
    • Non-Mexican members and guests may change up to $1,500 US Dollars per person. The maximum amount you are permitted to change during your stay or the month is $1,500 US Dollars. A copy of passport and immigration form, if applicable, must be provided.
    • In addition, any Member or guest can pay in cash up to $100 US Dollars per transaction for purchases made after check out, i.e. meals and purchases at the restaurants, stores, boutiques, etc. A copy of the corresponding official ID must be provided.
    • This measure only applies to dollar bills; it does not apply to travelers’ checks at this time.
    • In order to avoid inconvenience, we would appreciate it if you bring credit cards (except American Express), debit cards or traveler checks to pay your Club Bill on Friday in preparation for Saturday check out.

  • jgreen

    Dear Linda: Thank you for writing to Royal Resorts News. I think that would be up to individual taxi drivers. I recommend that you change some money into Mexican pesos in case.
    If you are talking about the taxi ride from the airport to your resort, you could also use the Thomas More Travel Airport transfer service. The service is charged to your Club Bill at Royal Resorts and you pay at the end of your stay.
    You must book your Airport transfer before you travel to Cancún and bring the printed confirmation and service coupon with you in order for Thomas More to provide the service. You can book online at http://www.royalresorts.com or http://www.thomasmoretravel.com
    Alternatively, call Thomas More Travel toll-free from the US & Canada 1-800-791-4496; Rest of the World: 52-998 885-1741 or 885-0254
    E-mail airportservice@royalresorts.com at least 24 hours prior to departure.

  • jgreen

    Dear Judy: Thank you for writing to Royal Resorts News. The new legislation applies to banks, hotels, stores, etc. and applies to US dollar bills. You can pay up to $100 US in dollar bills per transaction in shops, restaurants, etc.. As an alternative, you may use credit or debit cards or use ATMs to withdraw money from your account and pay in Mexican pesos. I hope that this helps answer your question.

  • GeorgeP

    While I can see the need for the regulations the amounts are a little low, when you figure that Cancun is a top line resort area, $100 at a local restaurant is not uncommon. As for our bills, again $1500 is to low, figuring the costs of staying at a top of the line resort. The problem with paying with pesos is the lost you have when try to buy back dollars with your excess pesos at the end of your stay. And with CC there is the fee gouging that banks charge for the foreign exchange on each transaction. Does the $1500 limit also apply to exchanging dollars for pesos? Living in San Diego we have access to pesos but if you’re not from a border area it can be very difficult obtaining pesos from local banks, I have seen some banks require 30 days notice for the purchase of foreign money. Some Credit Union and Banks are refusing to sell travel checks and instead want to give Visa or Mastercard prepaid cash cards which also have high fees to just buy and use, Another reason to question if we want to return????? Cancun is becoming a real problem, because I have thoroughly enjoyed all my visits over the last 25+ years. I will really miss my time there.

  • jgreen

    Dear Judy: Thank you for writing to Royal Resorts News. Yes, the new law also applies to stores such as Walmart. If you wish to pay for your purchases using US dollar bills, the limit per transaction is $100 per person. You will still be able to use credit cards or debit cards. Taxi drivers may still accept dollars but it is probably better to pay them in pesos. I hope that this helps.

  • jgreen

    Dear Joann: Yes, you can use Mexican pesos to pay your bill or US dollars up to the limit of $1,500 per person per stay. Visa and Mastercard are also accepted.

  • jgreen

    Dear Joanne: Yes, of course you can still use the ATMs in Cancun.

  • jgreen

    Dear Mel, Thank you for writing to Royal Resorts News. No, it doesn’t apply to credit cards. You may use Visa and Mastercard to pay your Club bill at Royal Resorts.

  • Amelia

    I would like to know if this restriction is only when you pay cash(in dollars). It seems to me if you change pesos in the resort, that restriction will not be applied. Right?

  • David

    I see where 3 people have asked if you can cash out at the end of the week with U S cash – did not see a response to it — I read it as the only limitation of the 1500 is for money exchange US to Mex for shopping etc. is this correct – I assume we can still pay cash for our stay.

  • Faith

    Just to clarify. We sill still be able to exchange USD at th front dest of up to $300USD per day/$1500 USD per stay at the front desk of the resort. Or exchange any amount of travlers checks in USD at the desk as well. Am I correct in this?

  • Linda Flak

    Will the taxi drivers take us dollar at the airport?

  • Judy Scorsone

    Does this mean that we can only spend $100 USD at Walmart?

  • jgreen

    Dear Benjamin: Thank you for writing to Royal Resorts News. The $1,500 cash exchange limit is per person per stay (or month), not per villa. I hope that this helps.

  • Judy Scorsone

    When I go to Walmart, does that mean I can only spend $100 US and that I need to bring my passport? Will the taxis take US dollars? Thanks for your response.

  • Benjamin Troemel

    Another clarification on the money exchange please. Your news release states the $1500 cash exchange limit is per person per month. On another website someone posted that a friend of theirs who works at the Royal Resorts told them the limit is PER VILLA. Which is correct?

    Thanks

    Ben

  • MelD

    Does this apply to paying your bill by Credit card?

  • admin

    Dear Mary Anne:

    Thanks for writing to The Royal Resorts News. Yes, you may do so, but the limits would still apply. In case you can’t cover the full amount of the bill in dollars, you may very well withdraw Mexican pesos from any ATM machine, or use a credit card.

    Please let me know if theres anything else I can help you with.

  • admin

    Dear Joann,

    Yes, as the article reads, the limits apply when using dollars to pay in cash. What I suggest is withdrawing MXN pesos from any ATM machine to cover the rest of the amount to be paid.

    Please let me know if theres anything else I can help you with.

  • admin

    Dear Mike,

    According to the law, no, it does not apply to Traveler’s Checks.

    I’ve already mentioned the daily rate suggestion to accounting, since they are the ones that send us the exchange rates.

    Please let me know if there’s anything else I can help you with.

  • admin

    Dear Michael,

    Yes, the limit is enforced on cash transactions only. What I’d suggest if you don’t want to pay by Credit Card is to use an ATM machine and withdraw the rest of the payment in Mexican Pesos. You can still use ATM machines freely without a problem.

    Please let me know if theres anything else I can help you with.

  • admin

    Dear Joanne,

    You may still use any ATM/Cash machine while in Cancun. The above update only applies to exchanging money and paying with dollars in cash.

    Please let me know if theres anything else I can help you with.

  • Michael Walsh

    Is a member allowed to only pay $100.00 US currency at check-out at the Resort? Most US banks charge 2-3% for credit card purchases out of the US.

  • Joanne PEter

    Does that mean that an American cannot use a cash machine in Cancun? We always use the one next to the Captain’s Cove.

  • Crystal S.

    Thank you for posting this on facebook. It will make out trip in October better!

  • Mike LeGay

    So, exchanging US traveler’s checks is not counted toward the $1500 limit? Also, last time I checked the Royal Resorts site did not have a current exchange rate posted for what the in-house exchange would be. I’d be interested in seeing that value kept current on a daily basis.

    Thanks

  • jmbell

    I would assume we can still pay our final bill with cash at the end of our stay (in either U.S. dollars or pesos). Yes?

  • Mary Anne Giannini

    Can I still settle by bill at the end of the week in cash?

  • jgreen

    Dear Elaine: Thank you for writing in to Royal Resorts News. The new legislation passed by the Mexican government refers to US dollars, Canadian dollars and travelers checks are unaffected. I hope that this helps.

  • Elaine Greenwood

    In the past we have changed Canadian Dollars to Pesos, are there restrictions for Canadian Dollars? Will we still be able to change them?

  • jgreen

    Dear Kenny: Thank you for writing to Royal Resorts News. Royal Resorts is still using the room key system to charge meals, store purchases, tours, spa treatments, etc. to the villas and members and guests pay their club bills at the end of their stay. However, as you remember once you have settled your account on Friday or Saturday morning, you may make additional last-minute purchases, order meals and drinks using cash or a credit card, hence the mention in the text. I hope that this helps, please feel free to contact us again if you have additional questions.

  • jgreen

    Dear Cal: Thank you for writing to Royal Resorts News. Royal Resorts does not accept the Discover Card, it does however accept Visa and MasterCard. Please feel free to contact us if you have additional questions.

  • Kenny Steelman

    Does this mean that you can now use money (cash) at the restaurants and the stores? Always before you had to have a room key and charge it to your room. So now when we go to eat we can pay cash?

  • Cal Hickman

    Do you accept Discover Card?

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