This review describes the polymer electrolyte membranes (PEM) that are both under development and commercialized for direct methanol fuel cells (DMFC). Unlike the membranes for hydrogen fuelled PEM fuel cells, among which perfluorosulfonic acid based membranes show complete domination, the membranes for DMFC have numerous variations, each has its advantages and disadvantages. No single membrane is emerging as absolutely superior to others. This review outlines the prospects of the currently known membranes for DMFC. The membranes are evaluated according to various properties, including: methanol crossover, proton conductivity, durability, thermal stability and maximum power density. Hydrocarbon and composite fluorinated membranes currently show the most potential for low cost membranes with low methanol permeability and high durability. Some of these membranes are already beginning to impact the portable fuel cell market.