Belize On A Budget: Planning Your Currency Exchange

The Belize dollar is the official currency in Belize, but it is pegged to the US dollar at a fixed exchange rate of 2:1. This means that you can use either currency when in Belize, and there is no need to exchange money in advance. However, it is worth noting that smaller establishments may only take Belize dollars, and you will likely receive your change in local currency. US dollars are also useful for paying for more expensive items, such as hotels or tours, which are often priced in US dollars. It is also important to be aware of Belize's customs declaration requirement for any currency or financial instruments exceeding a total value of $5,000 US dollars.

The Belize dollar is pegged to the US dollar at a fixed rate of 2:1

While the US dollar is widely accepted in Belize, prices are usually expressed in Belize dollars. This can sometimes lead to confusion, especially since the US dollar is often used for more expensive items like hotels and tours, while the Belize dollar is used for cheaper items like menus and shops. It is always a good idea to clarify whether a price is quoted in US or Belize dollars.

For those who wish to exchange their money, this can be done at most banks and hotels. Additionally, ATMs in Belize usually accept foreign cards and dispense Belize dollars. However, it is important to note that there is a daily withdrawal limit and fees associated with international card withdrawals.

Belize law allows individuals to bring a maximum of US$5,000 into the country, regardless of form (cash, cheques, etc.). All visitors must declare their total currency holdings upon entering the country if they exceed this amount. Failure to do so may result in arrest and/or fines.

US dollars are widely accepted in Belize, but change will be given in Belize dollars

If you're travelling from the US to Belize, you can use your US dollars for most transactions. The Belize Dollar (BZD) is the country's official currency, but it's pegged to the US dollar on a 2:1 ratio, and the two are used interchangeably. This means that two Belizean dollars will always equal one American dollar, so you don't need to worry about calculating exchange rates.

However, while you can pay for things in US or Belize dollars, you will receive your change in Belize dollars. US coins are not accepted in Belize, so it's best to leave those at home.

Credit cards are gaining popularity in Belize, but they may not be widely accepted outside of restaurants, bars, tour offices, and hotels. Major credit cards like Amex and Discover are rarely accepted due to their high merchant fees.

It's recommended to have cash on hand for tipping tour operators, resort or hotel staff, and services such as restaurants and spas. Smaller bills are more widely accepted than large ones, especially in villages, boutique shops, and restaurants. These places may not have enough change for large bills, or they may be concerned about counterfeits. If you do receive large bills, bigger supermarkets or bars in tourist areas may be able to help you break them. It's also important to ensure that your bills are in good condition, as some places won't accept bills that are bent, torn, or worn.

ATMs can be found in all the bigger towns and tourist areas of Belize, but they dispense Belize dollars and often have daily limits. Additionally, you'll be charged two separate fees each time you withdraw money. It's recommended to consult your local bank to see if your card will work in Belize.

It's recommended to bring a variety of payment methods to Belize, including cash, credit cards, and debit cards

US dollars are interchangeable with Belize dollars, and you can use them to purchase items everywhere. However, you will receive your change in Belize dollars if you pay with US dollars. It's important to note that US coins are not accepted in Belize, so it's best to leave those behind. Credit cards are gaining popularity, especially in tourist destinations, and are widely accepted by major credit card companies such as Visa and MasterCard. However, credit cards may not be widely accepted outside of restaurant/bar, tour office, and hotel settings. American Express (AmEx) and Discover cards are rarely accepted due to their high merchant fees.

It's a good idea to carry smaller bills as they are more widely accepted than large ones, especially in villages, boutique shops, and restaurants. Some smaller establishments may not have enough change for large bills or may be concerned about counterfeits. It's also important to ensure that your bills are in good condition, as some places won't accept bills that are bent, torn, or worn.

ATMs can be found across Belize in major towns and cities and are a great way to access Belizean money. However, they usually charge a nominal fee for international card withdrawals, and it's recommended to consult your local bank to ensure your card will work in Belize. Additionally, some ATMs have daily withdrawal limits, and you will be charged two separate fees each time you withdraw money.

Belize law allows individuals to bring a maximum of US$5,000 in cash, checks, or other forms. Visitors must declare their total currency holdings upon entering the country if they exceed this amount.

ATMs are available in major towns and tourist areas, but they may charge fees and have daily withdrawal limits

When travelling to Belize, it is important to consider your options for accessing money during your trip. While the official currency of Belize is the Belize Dollar (BZD), US dollars are widely accepted and used interchangeably with BZD at most businesses. This means that you can choose to bring US dollars with you and exchange them for BZD, or use US dollars directly for purchases.

• Location and Availability: ATMs can be found in most major towns and tourist areas, including San Pedro, Caye Caulker, Hopkins, San Ignacio, Punta Gorda, Dangriga, Belize City, and Belmopan. However, they may not be as readily available as in large cities, so it is advisable to plan ahead and carry enough cash when visiting remote areas.
• Fees and Charges: Using ATMs in Belize may incur fees. You will likely be charged a fee by both your local bank for international use and the local Belize bank for using their ATM. Additionally, some ATMs may charge a nominal fee for international card withdrawals, typically around 3-5 BZD.
• Withdrawal Limits: ATMs in Belize usually have daily withdrawal limits, which can vary depending on the bank. The limit is often around BZ$500, but it can range from BZ$500 to BZ$800. It is important to check with your bank about any specific limits or restrictions.
• Card Acceptance: Most ATMs in Belize accept foreign cards, specifically those bearing the VISA, MasterCard, Plus, and Cirrus logos. However, it is always a good idea to verify with your bank whether your card will work in Belize before your trip.
• Dispensed Currency: ATMs in Belize only dispense Belize dollars (BZD). They do not dispense US dollars or other foreign currencies. Therefore, if you plan to use ATMs, be prepared to receive your cash in BZD.
• Banking Hours: While ATMs are accessible 24/7, it is worth noting that banks in Belize generally follow specific operating hours. Most banks are open from Monday to Thursday until 2 PM and have extended hours on Fridays. They usually close for lunch and remain closed on Sundays.

When using ATMs in Belize, it is essential to be mindful of the fees, withdrawal limits, and other considerations mentioned above. Additionally, remember that Belize dollars may not be accepted outside of Belize, except in some border towns, so it is advisable to avoid withdrawing large amounts of cash, especially towards the end of your trip.

Credit cards are a convenient and safe way to pay and get cash in Belize, but they may incur high fees and transaction charges

The local currency in Belize is the Belize Dollar (BZD), which is pegged to the US dollar at a rate of BZD 2 to USD 1. This means that you can use both currencies interchangeably at most businesses in Belize, although smaller establishments may only take Belize dollars.

Major credit card companies like Visa, Mastercard, and American Express are generally accepted in Belize. However, it is always a good idea to check with your specific card provider to ensure that Belize dollar currency conversion is supported and that your card can be used at ATMs in the country.

When using a credit card in Belize, you may be charged multiple fees by your credit card company, bank, and the ATM network (if withdrawing cash). These fees can add up, making credit card usage in Belize quite expensive. Some establishments in Belize may also include a surcharge of 2-5% for customers using credit cards.

Therefore, it is recommended to have a mix of cash and credit cards when travelling to Belize. Carrying smaller US dollar bills is advisable, as some smaller villages or shops may not have enough change for larger bills or may be concerned about counterfeits. Additionally, some vendors may offer a small discount for cash payments.

ATMs are available in most major towns in Belize and usually accept foreign cards, but they may charge nominal fees for international card withdrawals. It is important to notify your bank and credit card company before travelling to avoid any issues with foreign transactions.

Frequently asked questions