Sunday, November 13, 2011

Tips On Sending Money To China Using A Prepaid Debit Card

By Lisa Maire


If you plan to visit Mexico on vacation anytime soon, you possibly wonder how to bring funds into the region. You should find out if there is a limit on the amount of cash you may bring in, and whether you have to declare it once you enter the country. You might wonder if traveler's checks are useful here, or you may consider initiating a money transfer to Mexico via a prepaid debit card. Get answers to these queries before you enter this nation.

You probably know that the currency in Mexico is the peso, and that $1 USD equals roughly 12 pesos, but you should know that you can typically use U.S. dollars at some stores, as well. This means that bringing cash in might be okay, but you must make sure that the cash you bring is not torn, bent, or marked on. Otherwise, your U.S. dollars might not be usable.

The rule usually pertains to Mexican pesos. You should also carry lots of bills under $20 since some people offering their services, such as taxi drivers, will not take anything more than that. Just be alert that U.S. coins are never usable in this nation, and you will always get your change back in Mexican pesos. You can also exchange your money for pesos when you arrive in this country, as you will likely get a better exchange rate than in the United States.

Many people in the U.S. frequently use credit and debit cards to withdraw cash or purchase items. You can do the same in Mexico, especially if you will be there for a while and do not wish to carry a lot of money. Lots of people prefer to make a money transfer to Mexico through a prepaid debit card, which typically costs $5 USD. If you go this pathway, you can add cash from your bank account at any time, and you can use it just as you would a debit card attached to your bank.

However, if you lose it, it will likely have less money on it than your bank account does, which makes it safer than a regular debit card. Luckily, most Mexican retailers take Visa and MasterCard, and a few also take American Express, though few if any take Discover. Smaller shops and restaurants often do not take cards at all, but they frequently state on their window or menu whether they do or not.

You should consider using traveler's checks, but most people prefer newer methods of creating a money transfer to Mexico. Not every store accepts them, and they are not as common as they used to be. To be on the safe side, try to cash them at large hotels since they usually accept them. Otherwise, be careful to also carry cash or a prepaid debit card to use. In fact, it is often best to use a variety of payment options here so that you are never left without funds to spend.




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