Belize Travel: How Much Cash To Bring?

Belize is a relatively expensive destination, comparable to Costa Rica, the most expensive country in Central America. The official currency is the Belize dollar (BZ$), which is typically worth around half a US dollar. While US dollars are widely accepted, it is advisable to carry smaller US bills, as larger denominations may be difficult to cash in smaller villages or shops. ATMs are available in most major towns and accept Visa, Mastercard, Plus, and Cirrus cards, but they may charge a fee for each withdrawal, and there may be daily withdrawal limits. Credit cards are also widely accepted, but it is a good idea to notify your bank and credit card company before travelling to avoid any issues with foreign transactions.

Cash vs card

Belize is a largely cash-based society, and it is recommended that you bring enough US dollars in small denominations to cover your first few days. However, credit cards are becoming more widely accepted, and ATMs are available in most major towns.

Cash

Belize's official currency is the Belize dollar (BZ$), which is typically worth around half a US dollar (US$). While US dollars are accepted across the country, you will likely receive change in Belize dollars. It is important to ensure that your US bills are in good condition, as those with marks or tears may not be accepted. Additionally, it is advisable to bring smaller bills, as larger denominations may be difficult to cash in smaller villages or shops.

Card

Most hotels, larger restaurants, supermarkets, and bars in Belize now accept credit cards, usually for purchases over BZ$20. Visa and Mastercard are the most commonly accepted cards, while American Express is often not accepted due to the high fees charged to merchants. Credit cards can also be used to obtain cash advances from major banks, but additional charges will apply.

ATMs

ATMs are available in most major towns and tourist areas in Belize, dispensing only Belize dollars. It is important to note that you will likely incur two fees for using ATMs: one from your home bank for international use and another from the local Belize bank. Additionally, there may be withdrawal limits, typically around BZ$500 per day, and some ATMs may charge a fee for each use.

In conclusion, while it is advisable to bring a combination of cash and card when travelling to Belize, it is important to ensure you have enough cash, especially in smaller denominations, to cover your initial expenses and any purchases from smaller merchants or in rural areas.

Belize vs US dollars

The official currency of Belize is the Belize Dollar (BZD), which is typically valued at BZ$2 per US$1. The Belizean dollar is hard-pegged to the US dollar at a fixed rate, though there is a slight fluctuation in practice, with some sources citing a rate of BZ$2.0153229 per US$1 and others BZ$2.05 per US$1.

Many businesses in Belize accept both currencies, though smaller establishments may only take Belize dollars. Prices may be listed in US dollars, and you can receive change in either currency. ATMs in Belize dispense Belize dollars and usually accept foreign cards, though some may charge a fee for each use and enforce a withdrawal limit per day (typically around BZ$500).

Belize law allows travelers to bring a maximum of US$5,000 into the country per adult individual. This limit applies to cash, checks, and other negotiable instruments. The total sum of money must be declared on a Disembarkation Card and presented to the Belize Customs Authority at all air, sea, or land entries. Failure to declare currency or financial instruments exceeding a total value of US$5,000 can result in arrest and fines of triple the amount of undeclared funds.

ATM withdrawals

When travelling to Belize, it's important to plan how you will access your money. While some businesses will accept card payments, cash is still the standard form of payment in Belize.

ATMs are available in most major towns and tourist destinations in Belize, including San Pedro, Caye Caulker, Hopkins, San Ignacio, Punta Gorda, Dangriga, Belize City, and Belmopan. However, they are not as widely available as in big cities in the US, so it's a good idea to plan ahead.

Belize Bank and Atlantic Bank accept foreign ATM cards and are part of the Global ATM Alliance, which means they do not charge a fee for cash withdrawals for customers of other Alliance members, including Bank of America, Deutsche Bank, Barclays, BNP Paribas, and Scotiabank. The Belize Bank has established the only nationwide ATM network in the country, with 45 ATMs distributed across Belize.

Most ATMs in Belize accept Visa, MasterCard, Plus, and Cirrus cards, and will only dispense Belize dollars (BZ$). The maximum withdrawal limit per day is usually around BZ$500, with some banks offering higher limits, such as BZ$600-BZ$800 at Scotiabank and BZ$1,500 at Belize Bank.

It's important to note that you will likely be charged two fees for each ATM withdrawal: one from your home bank for international use and one from the local Belize bank. These fees vary depending on the bank, but they typically range from BZ$2.50 to BZ$3 per transaction.

When using ATMs in Belize, always be cautious and aware of your surroundings, especially at night. It's recommended to withdraw cash during the day and carry only the amount you need for the day, leaving the rest in a safe place, such as a hotel safe.

Additionally, remember that Belize dollars are not accepted outside of Belize, except in some border towns like Melchor, Guatemala, and Chetumal, Mexico. Therefore, plan your withdrawals accordingly, especially towards the end of your trip, to avoid having excess local currency.

Exchanging money

The official currency of Belize is the Belize dollar (BZ$), which is typically pegged to the US dollar at a rate of BZ$2 to US$1. This means that US dollars are widely accepted in Belize, and you can receive your change in either currency. However, smaller establishments may only take Belize dollars, so it is a good idea to have some local currency on hand.

If you are arriving with US dollars, it is not necessary to exchange them, as the exchange rate you will get is worse than the standard 2:1 rate. If you are coming from another country, it is recommended to exchange your money into US dollars before arriving in Belize.

ATMs are available in most major towns and tourist areas and usually accept foreign cards. However, they only dispense Belize dollars and may charge a fee for each withdrawal, with a daily limit of around BZ$500. It is important to note that Belize dollars are only accepted within Belize and a few towns immediately over the border, so avoid withdrawing large amounts of cash, especially towards the end of your trip.

Most banks in Belize can exchange money, and many are located near the main plaza in cities. Money can also be exchanged at a casa de cambio (exchange house). Major banks include Bank of Nova Scotia, Atlantic Bank, and Belize Bank. They are usually open from Monday to Thursday until 2 PM and slightly later on Fridays, closed during lunch, and not open on Sundays.

It is important to note that Belize law allows travelers to bring a maximum of US$5,000 into the country, and this amount must be declared on your Disembarkation Card before presenting it to the Belize Customs Authority. Violation of this restriction can result in arrest and fines.

Budgeting

Belize is an expensive country, comparable to Costa Rica, which is the priciest in Central America. If you are travelling to Belize from Guatemala, Mexico or Honduras, expect a significant jump in costs. This is because the country relies heavily on imports and has high taxes. However, prices in Belize are still cheaper than in the US or Europe.

If you are a midrange traveller, you are likely to spend between BZ$200 and BZ$300 a day on accommodation and food. Midrange hotels cost around BZ$150 to BZ$200 a night, while more luxurious options start at around BZ$300. Hotel prices increase during the dry season (December to May) and holidays such as Christmas, New Year and Semana Santa. A meal with drinks will cost you between BZ$20 and BZ$50.

ATMs are available in most major towns and accept Visa, Mastercard, Plus and Cirrus cards. They only dispense Belize dollars and may charge a fee per use, with a typical withdrawal limit of around BZ$500. Some banks that are part of the Global ATM Alliance do not charge a fee for withdrawals, including Bank of America, Deutsche Bank, Barclays, BNP Paribas and Scotiabank.

Major banks in Belize include Bank of Nova Scotia, Atlantic Bank and Belize Bank. They are usually open Monday to Thursday until 2 pm, slightly later on Fridays, closed for lunch, and shut on Sundays.

You can exchange money at most banks and casas de cambio (exchange houses). However, banks tend to offer poor exchange rates. You can use US dollars everywhere in Belize, and get Belize dollars in change. However, US coins are not accepted.

Credit cards are accepted at larger hotels, restaurants and shops, usually for purchases over BZ$20. Visa and Mastercard are the most commonly accepted cards. Some places take American Express, but few establishments take Diners Club or Discover. Some vendors will add a 2-5% surcharge for credit card use.

There is a 10% general sales tax on all purchases, and hotels add a 9% tax to room prices. There is also a US$20 departure tax when leaving the country, usually included in the flight cost. Using a credit card incurs an extra 2-5% tax.

Tipping is customary in Belize, at around 10-15% for restaurant staff, tour guides and drivers. Many hotels and restaurants include a 10-15% service charge on the bill.

Frequently asked questions