ACCEPTED CURRENCY

US Dollars are accepted almost everywhere on the island; however, it is the law that all change be given in Pesos.  American checks are NOT accepted and therefore, you will not be able to use them.  Travelers checks are okay as an alternative to cash dollars, but they are not widely accepted.  You may have to go out of your way to get one cashed.

EXCHANGING MONEY

Expect to lose a little every time you exchange money.  The best rule of thumb to minimize this exchange rate loss is to pay the way the item is quoted; US dollars when close to the waterfront, and Mexican pesos in town and away from tourist areas.

CREDIT CARDS

Unlike the United States, Cozumel is a cash economy.  Shops and restaurants by the water and in most tourist areas do accept major credit cards (American Express, Visa, and MasterCard).  However, it is a good idea to always have cash available just in case.  Modem connections used to process credit cards, do sometimes have a tendency to be "down."