Exploring Belize: The Cashless Country

Belize is a cash-based society, with cash being the standard form of payment. While credit cards are gaining popularity, they are not widely accepted outside of restaurants, bars, hotels, and tour offices. If you're travelling from the US, you can use US dollars in Belize, which are interchangeable with the Belize dollar at a rate of 2:1. However, smaller establishments may only take Belize dollars, and you cannot use US coins. ATMs are available in most towns and tourist areas, but they only dispense Belize dollars and may have daily limits and fees. It's recommended to bring a combination of US cash in small denominations and to separate it so it's not all in one place.

US dollars are widely accepted

However, there are a few things to keep in mind when using US dollars in Belize. First, only US dollar bills are accepted, not coins. Second, while you can pay in US dollars, you will likely receive your change in Belize dollars. Third, smaller bills are more widely accepted than large ones, especially in villages or boutique shops and restaurants. This is because smaller establishments may not have enough change for large bills or they may be concerned about counterfeit bills. Finally, make sure that your bills are in good condition, as some places will not accept bills that are bent, torn, or worn.

If you are travelling from the US to Belize, it is recommended to bring US dollars with you. There is no need to exchange your cash, as the exchange rate is set at a 2:1 ratio. However, if you are using a credit or debit card, be aware that some ATMs in Belize will charge a fee for each withdrawal, and there may be a daily withdrawal limit.

You'll get change in local currency

While the Belize Dollar (currency code BZD) is the official currency of Belize, it is pegged to the US dollar on a 2:1 ratio, and the two currencies are used interchangeably. This means that you can pay for things in US dollars or Belize dollars, but you will receive your change in the local currency.

US coins cannot be used in Belize, so it is best to leave these at home. While credit cards are gaining popularity, they may not be widely accepted outside of restaurants, bars, tour offices, and hotels. Of the major credit cards, Amex and Discover are rarely accepted due to their high merchant fees.

It is recommended that you carry smaller US dollar bills as these are more widely accepted than large ones, especially in villages, boutiques, shops, and restaurants. Smaller establishments may only accept Belize dollars. These may not have the change available to cash a large bill, or they may be concerned about counterfeit bills. If you do receive bills in large denominations, bigger supermarkets or bars in tourist areas may be able to help.

It is also important to ensure that your bills are in good condition. Some places will not accept bills that are bent, torn, or worn.

Credit cards are gaining popularity

While cash is the standard form of payment in Belize, credit cards are gaining popularity. Most hotels, larger restaurants, supermarkets, and bars accept credit cards, generally for amounts over $20 BZD. Visa and Mastercard are the most widely accepted cards, while American Express is less commonly accepted due to the high fees it charges merchants. Credit cards are also commonly accepted at tour offices.

If you plan to use your credit card in Belize, it's a good idea to notify your credit card company beforehand. This way, they won't flag foreign transactions as suspicious. Additionally, it's worth noting that using a credit card in Belize will incur multiple fees, including foreign exchange fees, which can make it a costly option.

When it comes to withdrawing money from ATMs in Belize, it's important to remember that they only dispense Belize dollars and may have daily withdrawal limits. You will also be charged two separate fees for each withdrawal: one from your bank for international use and one from the local Belize bank.

While credit cards are becoming more widely accepted in Belize, it's always a good idea to have some cash on hand, especially in smaller villages or less touristy areas, where cash may be the only accepted form of payment.

Bring smaller bills

When travelling to Belize, it is important to bring smaller bills, such as $1, $5, $10 and $20 US bills, to avoid issues when paying in smaller villages or shops and restaurants. Larger bills, such as $50 or $100, may be hard to cash in smaller villages or in small shops and restaurants as people may not have enough change and/or may be concerned that the notes are counterfeit.

It is also important to ensure that your bills are in good condition. A few years ago, Belize banks stopped accepting US bills with any marks or tears. Therefore, it is a good idea to check your notes for any pen marks or tears, no matter how small, as these may cause your notes to be rejected.

If you do find yourself in a situation where you only have larger bills, some larger supermarkets or bars in tourist areas may be able to help you exchange them.

It is worth noting that while US dollars are accepted in Belize, US coins are not. Therefore, it is best to leave your pennies at home.

In addition, it is always a good idea to have multiple forms of payment available when travelling. This could include a debit/ATM card, at least one credit card, and a smartphone with a digital wallet such as Apple Pay or Google Pay.

Cash is king

Belize is primarily a cash society, with most locals not owning credit cards. As a result, many local shops and restaurants do not accept credit cards, and cash is always the preferred form of payment. While credit cards are gaining popularity, they are not widely accepted except at restaurants, bars, hotels, and tour offices.

Where to Get Cash

Banks and ATMs can be found across Belize in the main towns and cities. They are the best way to access Belizean money. However, it is important to note that ATMs only dispense Belize dollars and many have a daily limit. You will also be charged two separate fees each time you withdraw money.

What Cash to Bring

The Belize dollar is the official currency, pegged at $2 BZ to $1 US. US dollars are also widely accepted, but you will likely receive your change in Belize dollars. It is recommended to bring a combination of US cash, with a few $50s and the majority in smaller denominations such as $20s, $10s, $5s, and $1s. Smaller bills are more widely accepted than large ones, especially in villages or smaller shops and restaurants.

When to Use Cash

Cash is the best form of payment for smaller merchants and in smaller villages. It is also the preferred way to tip any maids, drivers, or attendants. For larger purchases, vendors may offer a small "cash discount".

Other Things to Keep in Mind

• Always double-check how prices are quoted to avoid confusion between US dollars and Belize dollars.
• US coins cannot be used in Belize.
• Ensure that your bills are in good condition, as some places will not accept bills that are bent, torn, or worn.
• Belize charges a departure tax that must be paid in American currency.

Frequently asked questions