Quick answer: Use Mexican pesos in Cozumel. US dollars are accepted at many tourist businesses, but they set their own exchange rate, which is usually worse than the bank's, and your change comes back in pesos. The cheapest way to get pesos is a bank ATM on the island. Pay by card where you can, and always choose to be charged in pesos, not dollars. Tip in cash: 10% to 15% at sit-down restaurants (up to 20% for great service), a few pesos for gas attendants and grocery baggers, and nothing extra for a standard taxi ride.
One thing that trips up first-time visitors: Mexico uses the "$" sign for pesos. A menu that says "Tacos $35" means 35 pesos, not 35 dollars. When in doubt, ask "¿Es en pesos?"
Money in Cozumel at a Glance
| Question | Short answer |
|---|---|
| Currency | Mexican peso (MXN) |
| US dollars accepted? | At many tourist businesses, at a worse rate, with change in pesos |
| Best way to get pesos | A bank ATM, not an airport exchange kiosk |
| Cards | Visa and Mastercard widely accepted; Amex less so |
| Card machine asks "dollars or pesos?" | Always pesos |
| Restaurant tip | 10% to 15% in cash, up to 20% for great service |
| East side | No ATMs; bring pesos |
Should I Use Pesos or Dollars in Cozumel?
Pesos, whenever you can. Many shops, tour operators and supermarkets take US dollars, but each business sets its own rate, typically a little below the official rate, and gives change in pesos. Tours are often priced in dollars, but you can still pay in pesos. Taxis around town charge in pesos, and small local restaurants, markets and east-side beach bars may take pesos only.
Dollars are handy as a backup, and cruise passengers on a single day ashore can get by with them. If you are staying a few days or longer, switching to pesos saves real money.
Where Can I Get Pesos in Cozumel?
Use an ATM that belongs to a bank, ideally one inside or attached to a branch. Banks with ATMs in Mexico include BBVA, Banorte, Santander, HSBC and Citibanamex. Avoid stand-alone ATMs in tourist areas, which charge much higher fees, according to Mexico Travel and Leisure's guide to money in Mexico. If you are renting a house, ask your host which bank ATM is closest.
- Tell your bank you are traveling and ask about its foreign ATM and transaction fees.
- Withdraw larger amounts less often so per-withdrawal fees add up less.
- Get pesos before heading to the east side, where there are no ATMs. Our east side guide has more on planning that drive.
- Skip the airport exchange kiosks. They give the worst rates. Bank ATMs are the best option, followed by a bank's exchange window or a casa de cambio.
Can I Use a Credit Card in Cozumel?
Yes, at hotels, supermarkets, dive shops, rental car agencies and most mid-range and upscale restaurants. Visa and Mastercard are the most widely accepted; American Express less so. Bring cash for taxis, small eateries, markets and tips.
When an ATM or card machine asks whether to charge you in dollars or pesos, always choose pesos. Choosing dollars lets the machine's bank do the conversion, a practice called dynamic currency conversion, and its rate is typically 5% to 8% worse than your own bank's. A card with no foreign transaction fee is the cheapest way to pay.
Rental car agencies need a credit card for the security hold, even if you pay the final bill another way.
How Much Should I Tip in Cozumel?
Tip in cash, and in pesos for most everyday services. A tip added on a card may never reach your server. Servers, guides and boat crews rely on tips for much of their take-home pay.
| Service | Typical tip |
|---|---|
| Sit-down restaurant | 10% to 15%, up to 20% for great service |
| Bar | 10% to 15% of the tab, or about 20 pesos a drink |
| Taxi | Not expected for a standard ride; round up or add 10 to 20 pesos if the driver helps with bags |
| Gas station attendant | About 10 pesos, more if they clean the windshield or check the tires |
| Grocery bagger | 5 to 10 pesos |
| Housekeeping (hotel or rental) | 20 to 50 pesos a night at hotels, more for a full rental clean; leave it daily, since staff can change |
| Tour guide | 10% to 20% of the tour price, or about 100 to 200 pesos per person for a day tour |
| Dive crew | Many divers tip around $10 to $15 (or the peso equivalent) per tank |
For more on local customs, see Mexico News Daily's guide to tipping in Mexico.
Before you tip at a restaurant, check the bill. Some places add a service charge, sometimes labeled "servicio" or "propina incluida," and you don't need to tip twice. The "IVA" line is Mexico's 16% sales tax, which goes to the government, not the staff.
Frequently Asked Questions
What currency does Cozumel use?
Cozumel uses the Mexican peso (MXN). Prices marked with "$" in Cozumel are usually in pesos, not US dollars.
Can I use US dollars in Cozumel?
Yes, at many tourist businesses, but you will usually get a worse exchange rate than the bank's, and your change will be in pesos.
Is it better to pay in pesos or dollars in Cozumel?
Pesos. Paying in pesos, with cash from a bank ATM or a card with no foreign transaction fee, is almost always cheaper than paying in dollars.
Are there ATMs in Cozumel?
Yes, in town. Use bank ATMs rather than stand-alone machines, and take out cash before visiting the east side, which has no ATMs.
Should I choose pesos or dollars when a card machine asks?
Always choose pesos. Choosing dollars adds a currency conversion markup, often 5% to 8%.
How much should I tip at restaurants in Cozumel?
Tip 10% to 15% in cash, or up to 20% for great service. Check first that a service charge isn't already on the bill.
Do you tip taxi drivers in Cozumel?
Not for a standard ride. Round up or add 10 to 20 pesos if the driver helps with luggage.
How much do you tip a divemaster in Cozumel?
Many divers tip around $10 to $15 (or the peso equivalent) per tank, shared with the boat crew.
Planning a Longer Stay?
If you'd rather cook some meals and spend less on restaurants, a vacation home helps. Casa Cascada, our three-bedroom house with a private pool, is in Cozumel's Corpus Christi neighborhood, within walking distance of the Chedraui supermarket and local restaurants. Direct rates are $195 a night, $1,225 a week or $3,000 a month, with no booking-site fees.
Keep planning:
- How to get around Cozumel: taxis, rental cars and scooters
- Is Cozumel safe?
- Cozumel cruise port guide
- Best time to visit Cozumel
- Cozumel services directory
Run a restaurant, tour or shop on the island? Reach visitors planning their Cozumel trip on Blog Cozumel.
