One of the most important forms of self-care and management here will be to take care of your money as a remote worker in Playa del Carmen. This is particularly true when it comes to dealing with ATM norms, exchange rates and bank accounts all of which likely operate very differently from your home country.

Playa del Carmen is located on the Rivera Maya in the Mexican state of Quintana Roo. Here the local currency is the Mexican Peso which fluctuates at around 20.5-22 MXN per US Dollar. As a remote worker, is it likely you will be paid in a major currency such as USD, GBP or EUR. Of course, you should always be attentive to changes in the exchange rate to make sure you don’t overpay for goods or at ATMs.

One of the best things you can do when it comes to managing your money in Playa del Carmen as a remote worker is to make sure you exchange your home currency in Mexico. This is because you’ll find the best exchange rates here either at a casa de cambio or an ATM. Of course, you may wish to bring some MXN with you if you want to avoid visiting the ATM immediately upon arrival. Travelers’ checks are not easily accepted and you may be charged a hefty commission for cashing them, so it is best to avoid them. Of course, credit and debit cards are readily accepted across the city, although you should check your bank’s exchange fees before using these. Whatever you do, it is advisable you do not pay in USD since this will usually end up giving you the worst exchange rate.

When it comes to managing your money in Playa del Carmen as a remote worker, ATMs will be extremely useful to you if you need to withdraw cash from your home bank accounts. Fees at most ATMs across Playa del Carmen will range from 20 to 30 MXN plus your own bank fees for withdrawing cash, but some banks may charge up to 6% for transactions from credit cards or certain foreign banks. It is always a good plan to check for any partnerships your home bank may have with financial institutions in Mexico, as this may save you on exchange fees - for example, Banamex is a subsidiary of Citibank, and there are lots of HSBC branches across Playa del Carmen. Lastly, all individuals in Playa del Carmen are advised to exercise the usual caution when using ATMs (covering your PIN, quickly taking your cash, reporting suspicious activity, etc.) and also to avoid using any on 5ta Avenida since these are usually crowded and expensive.

A good option for managing your money in Playa del Carmen as a remote worker could also be opening a local bank account. Some banks will allow you to open one using only your tourist visa. Among expats in Playa del Carmen, Banamex, HSBC and ScotiaBank are the most popular. You should bring all relevant income, identity and address documentation for the bank to review when you attempt to open your account. It is worthwhile to ask yourself if a local bank account is really necessarily to manage your money in Playa del Carmen, since you may have to pay for low balances and recurring maintenance charges on your account. If you do get an account, we recommend not visiting the banks on the 1st or 15th of every month, since locals are usually paid on these days and so you may face long lines.

For more information about living in Playa del Carmen as a remote worker, check out our Playa del Carmen section.