Banderas Reef is a renowned dive site known for its gentle currents and rich biodiversity. While it is a bit farther from Manchones Reef, it is part of Punta Cancun. Its greater distance means that fewer dive operations utilize the site, making it less crowded and more appealing to experienced divers.

The reef features two elongated coral formations that run parallel to each other, topped with elk-horn coral and interspersed with ledges and overhangs that create habitats for a wide variety of marine life. Banderas offers great visibility and is relatively shallow, providing excellent opportunities to explore the reef and its ecosystem. The mild current allows divers to glide through the water, making for a fun and adventurous diving experience. 

Diverse marine species can be spotted at this site, including schools of barracuda, large crabs, spotted moray eels, lobsters, angelfish, scorpionfish, and even sharks.