Bank Of America: Exchange Money For Belize?

If you're planning a trip to Belize, it's important to know the local currency and how to get some. The Belize dollar (BZ$) is the official currency of Belize, and it's pegged to the US dollar at a ratio of 2 Belize dollars to 1 US dollar. While you don't need to exchange your money beforehand as US dollars are widely accepted, it's a good idea to have some local currency on hand. Bank of America offers foreign currency exchange services, allowing customers to order foreign currency through Online Banking or the Mobile Banking App. You can also exchange money at most banks in Belize, some upper-end hotels, and currency exchange businesses. Additionally, ATMs in Belize usually accept foreign cards, so you can withdraw cash during your trip.

Bank of America exchange rates

Bank of America offers foreign currency exchange services to its customers. Customers with checking and savings accounts can order foreign currency through Online Banking or the Mobile Banking App. Customers with credit cards can order currency at a financial center. The bank offers a wide variety of foreign currencies.

Bank of America has two primary SWIFT codes: BOFAUS3N for US dollars and BOFAUS6S for foreign currency. The bank's exchange rates are available to view online.

Preferred Rewards clients are eligible for a discount of up to 2% off the published exchange rate, based on their tier. They also receive free standard shipping on all orders placed in Online Banking or through the Mobile Banking app.

When traveling to Belize, it is important to note that the Belize dollar (BZ$) is the official currency and is pegged to the US dollar at a ratio of 2 BZ$ to 1 USD. This means that there is no need to worry about calculating exchange rates. Both currencies are widely accepted at businesses and establishments across the country. ATMs in Belize typically accept foreign cards and dispense Belize dollars.

It is worth noting that some establishments in Belize may only accept Belize dollars, and prices may be listed in US dollars. Additionally, some ATMs may charge a fee for each use and enforce a withdrawal limit per day. It is recommended to notify your bank and credit card company before traveling abroad to avoid any issues or suspicions when foreign charges appear.

Exchanging money in Belize

The official currency of Belize is the Belize Dollar (BZD), which is pegged to the US dollar at a fixed rate of BZ$2 to US$1. This means that you can use either currency at most businesses across the country, although smaller establishments may only take Belize dollars.

Exchanging Currency

You can exchange money at most banks in Belize, as well as some upper-end hotels, and currency exchange businesses. Many banks that exchange currency, including Barclays Bank, Atlantic Bank Ltd., Belize Bank, and the Bank of Nova Scotia, are often located near the main plaza in cities. Money can also be exchanged at a casa de cambio (exchange house).

It is best to avoid freelance money changers (known locally as "peseros"), who do not require you to fill out any paperwork. Unlicensed money changers are frequently found around the border areas with Mexico or Guatemala.

Licensed money changers will require you to fill out a form with personal information. Depending on where you go, you may find a slightly more favorable exchange rate (2.01 BZD per 1 USD).

Using ATMs

ATMs are available in most major towns and usually accept foreign cards. Belizean ATMs typically charge a nominal fee of 3-5 BZD for international card withdrawals. Consult your local bank to see if your card will work in Belize.

Credit Cards

Most major credit cards are accepted in Belize, although MasterCard and Visa are much more widely accepted than American Express, especially by smaller businesses. While there are some exceptions, Diners Club and Discover are rarely accepted.

Some establishments will include a 2-5% surcharge for travellers using a credit card.

Traveller's Cheques

Traveller's cheques can be exchanged at most banks. Having a reputable brand – like Visa or AmEx – will make this easier, as will having cheques made out in American dollars. You may have to pay per-cheque fees when cashing each traveller's cheque. Traveller's cheques are accepted at many hotels in Belize, but it’s uncommon for restaurants to accept them.

Using US dollars in Belize

The Belize dollar (BZ$) is the official currency of Belize. However, US dollars are widely accepted in the country, and many businesses accept both currencies. The Belize dollar is pegged to the US dollar at a rate of 2 BZ$ to 1 US$, so you won't need to worry about calculating exchange rates.

Most establishments in Belize will accept US dollars, although smaller businesses may only take Belize dollars. Prices may be listed in US dollars, and you can receive change in either US or Belize dollars.

ATMs are available in most major towns in Belize and usually work with American bank cards. However, they only dispense Belize dollars and may charge a fee for each withdrawal. Banks that are part of the Global ATM Alliance, such as Bank of America, do not charge a fee for cash withdrawals at the ATMs of other alliance members.

If you need to exchange US dollars for Belize dollars, you can do so at banks, some upper-end hotels, and currency exchange businesses. Licensed money changers will require you to fill out a form with personal information. It is recommended to avoid unlicensed money changers, known locally as "peseros", who do not require any paperwork.

Belize law allows individuals to bring a maximum of US$5,000 into the country, regardless of the form (cash, checks, etc.). All visitors must declare their total currency holdings upon entering the country if they exceed this amount.

Foreign currency ordering

Bank of America offers a convenient and secure foreign currency ordering service. Customers with Bank of America checking and savings accounts can order foreign currency through Online Banking or the Mobile Banking App. Alternatively, customers with credit cards can order currency at a financial center.

To get started, simply choose the currency you need. Bank of America offers a wide variety of foreign currencies, so you can be prepared for your next trip overseas. Orders placed Monday through Friday before 2 p.m. local time will be shipped the same day, and standard delivery is free for orders of $1,000 and above.

If you're planning a trip to Belize, you may be wondering about the local currency. The Belize dollar (BZD), often abbreviated as BZ$,, is the official currency of Belize. It is pegged to the US dollar at a fixed rate of 2 Belize dollars to 1 US dollar. This means that you can use US dollars at most businesses in Belize without having to worry about exchanging your money beforehand. However, it's always a good idea to carry some local currency for smaller purchases, taxis, and tips.

ATMs in Belize typically accept foreign cards, but it's recommended to use a four-digit PIN as some ATMs may not accept longer PINs. Additionally, keep in mind that Belize charges a departure tax that must be paid in US dollars.

International ATM partners

Bank of America has a number of international ATM partners that allow you to avoid the non-Bank of America ATM $5 usage fee for each withdrawal, transfer, or balance inquiry, as well as the ATM operator access fee. These partners include:

• Barclays (United Kingdom, including England, Scotland, Wales, Northern Ireland, Jersey, Guernsey, and the Channel Islands)
• BNP Paribas (France)
• Banca Nazionale del Lavoro S.p.A. (Italy)
• Deutsche Bank (Germany and Spain)
• UkrSibbank (Ukraine)
• Scotiabank (Canada, Mexico, Peru, Chile, and several countries in the Caribbean, including The Bahamas, Barbados, the Cayman Islands, the Dominican Republic, Jamaica, Trinidad & Tobago, and the Turks & Caicos Islands)
• Westpac Bank (Australia and New Zealand)
• China Construction Bank (Mainland China, excluding Hong Kong)

Bank of America will assess a 3% international transaction fee on the converted US dollar amount. Foreign ATM operators may offer to convert your currency, but they may charge a higher fee for this service. To avoid paying a fee higher than 3%, you can refuse the ATM operator's offer to convert the transaction amount.

Please note that participation in this program is subject to change, so be sure to review the list of participating financial institutions before traveling internationally and using International Partner ATMs.

Frequently asked questions