Belize Currency Exchange: A Traveler's Guide

The Belize dollar (BZD) is the official currency of Belize and is pegged to the US dollar at a fixed rate of BZ$2 to US$1. This means that you can use both currencies interchangeably in most establishments across the country. However, smaller businesses may only accept Belize dollars, so it is advisable to carry some local currency. You can exchange money at most banks and some hotels, but it is recommended to bring US dollars and exchange them for Belize dollars upon arrival, as other currencies may have unfavourable exchange rates. Additionally, be mindful that Belize dollars are generally worthless outside of the country, so it is best to convert any leftover currency before departing Belize.

Where to exchange currency

The Belize dollar (BZ$, BZD) is the official currency of Belize, and it is pegged to the US dollar at a ratio of 2 Belize dollars to 1 US dollar. While both currencies are acceptable at most businesses across the country, smaller establishments may only take Belize dollars. It is advised that you carry some small-denomination bills for paying taxis, modest meal tabs, and tips.

If you plan to bring physical dollars, it is recommended to visit your local bank to avoid the expensive exchange rates at airport kiosks. In Belize, you can exchange currency at most banks and some upper-end hotels. Major banks in Belize include the Bank of Nova Scotia, Atlantic Bank, and Belize Bank. Many banks that offer currency exchange, including Barclays Bank, Atlantic Bank Ltd., Belize Bank, and the Bank of Nova Scotia, are often set near the main plaza in cities.

Belize Bank offers a range of popular currencies, and all you need to do is bring your passport and plane ticket or other valid travel documents. Money can also be exchanged at a casa de cambio (exchange house).

ATMs are another way to access Belizean money and can be found across Belize in major towns and cities. They are usually attached to banks and accept credit cards by Visa, Mastercard, Plus, and Cirrus. However, ATMs usually charge a nominal fee of 3-5 BZD for international card withdrawals, and it is advised to consult your local bank to see if your card will work in Belize.

It is important to note that it can be very difficult to exchange Belizean dollars for other currencies once you leave the country, so travellers are advised to convert all remaining Belizean dollars before departing.

Using US dollars in Belize

The Belize dollar (BZ$) is the official currency of Belize, and it is pegged to the US dollar at a ratio of 2:1. This means that two Belize dollars will always equal one US dollar, so there is no need to worry about calculating exchange rates. The Belize dollar is divided into 100 cents, just like the US dollar, and prices in Belize are usually expressed in Belize dollars. However, US currency is widely accepted, and you can use both currencies at most businesses.

You can use US dollars at larger hotels, restaurants, and shops, which typically accept credit and debit cards such as Visa and Mastercard. Some places also accept American Express, but it is less common for smaller establishments to take this form of payment. It is important to note that some businesses may include a 2-5% surcharge for using a credit card. Additionally, credit cards can be used to obtain cash advances from major banks, but this will incur additional charges.

ATMs are available in most major towns in Belize and usually work with American bank cards. They will dispense Belize dollars and may charge a nominal fee of 3-5 BZ$ for international card withdrawals. It is recommended to consult your local bank to see if your card will work in Belize.

While it is not necessary to exchange US dollars for Belize dollars before your trip, it is a good idea to bring a mix of cash and cards. This will ensure that you have a backup plan for payment, as card acceptance can vary from place to place.

Credit card acceptance

Credit cards are a safe way to pay in Belize, providing a convenient record of expenses and generally offering good exchange rates. Most major credit cards are accepted in Belize, although Visa and Mastercard are more widely accepted than American Express, especially by smaller businesses. Diners Club and Discover are rarely accepted.

Some establishments will include a 2-5% surcharge for travellers using a credit card. Credit cards can be used to obtain cash advances from major banks in Belize, but you will incur additional charges when doing this.

ATMs are available in most major towns and cities in Belize, and they usually accept Visa, Mastercard, Plus, and Cirrus cards. They will also accept some other cards, including American Express. However, they only dispense Belize dollars and may charge a fee for each withdrawal. It is a good idea to notify your bank and credit card company before travelling to avoid any issues with foreign transactions.

Cash machines in Belize

Cash machines (ATMs) are available in most major towns in Belize and will usually accept Visa, Mastercard, Plus, and Cirrus cards. Some ATMs may also accept American Express cards.

Belizean ATMs dispense cash in Belize dollars only and usually charge a small fee for international card withdrawals. It's worth noting that Belize dollars are not accepted outside of Belize, except in some border towns like Melchor, Guatemala, and Chetumal, Mexico.

The maximum withdrawal limits vary depending on the bank, with Atlantic Bank allowing up to BZ$1,000, Scotiabank allowing BZ$600 or $800, and Belize Bank allowing BZ$500. Scotiabank and Belize Bank also charge ATM fees of BZ$4 and BZ$3, respectively.

It's important to notify your bank before travelling to Belize to ensure your card will work in the country and to find out about any international usage fees.

While credit cards are widely accepted in Belize, particularly Visa and Mastercard, it's always a good idea to carry some cash, especially in smaller shops and restaurants.

• Remember that you may be charged two fees: one from your bank for international use and one from the local Belize bank.
• Withdraw cash in Belize dollars to pay directly, as some establishments may offer unfavourable exchange rates when paying in US dollars.
• Be aware of your surroundings and protect your PIN when using ATMs, as you would in any other country.
• Consider withdrawing cash before arriving at more remote destinations, as ATMs may not be available everywhere.
• Always carry some smaller US dollar bills ($1, $5, $10) for smaller purchases, as some places may not have change for larger bills.

Declaring currency at customs

When travelling to Belize, it is important to be aware of the country's customs regulations and requirements for declaring currency. Here is some information on declaring currency at customs when entering Belize:

Customs Regulations in Belize:

Belize, like any other country, has regulations in place to control what enters and exits the country. These regulations help prevent issues such as the spread of disease, protect local industries and farms, and enforce local laws. As a visitor, you will need to go through the customs department, regardless of whether you arrive by air, land, or sea.

Declaring Currency:

According to Belizean law, all visitors must declare their total currency holdings upon entering the country if they exceed a certain amount. Specifically, you are required to declare your currency if it exceeds BZD10,000 (approximately USD5,000). While your currency will not be taxed, you must fill out a C300 form to report the import of currency. Failure to declare the required amount may result in arrest and/or a fine of triple the amount of any undeclared funds.

Other Customs Declarations:

In addition to currency, there are other items that must be declared when entering Belize. These include:

• Tobacco products: You are allowed to bring a certain amount of tobacco products duty-free, including 200 cigarettes, 50 cigars, or 250 grams of tobacco.
• Alcoholic beverages: A limited quantity of wine or spirits, typically one litre, is permitted.
• Medicines and medical devices: These items are allowed for personal use and are exempt from taxes.
• Prohibited items: It is important to note that certain items are strictly prohibited from being brought into Belize, such as illegal drugs, firearms, explosives, knives, and pornographic material.

Frequently asked questions