Ruqayyah Snyder
The official currency of Belize is the Belize Dollar (BZD), which is pegged to the US dollar at a ratio of 2:1. This means that you can use both currencies interchangeably at most businesses in Belize, although smaller establishments may only take Belize dollars. You can exchange money at most banks in Belize, some upper-end hotels, and currency exchange businesses, but if you're bringing USD, you may find it easier to just bring your US dollars with you and receive change in Belize dollars.
| Characteristics | Values |
|---|---|
| Official currency of Belize | Belize Dollar (BZD or BZ$) |
| Exchange rate | BZ$2 to US$1 |
| Where to exchange currency | Banks, some upper-end hotels, currency exchange businesses, or freelance money changers ("peseros") near borders with Mexico or Guatemala |
| Where to find ATMs | Major towns and tourist areas |
| Credit card acceptance | Visa and MasterCard widely accepted, American Express less common, Diners Club and Discover rarely accepted |
| Currency used in pricing | Prices are usually in Belize dollars, but American currency is widely accepted |
| Declaration of currency upon entry | Required if total currency exceeds US$5,000 |
What You'll Learn
Where to exchange currency
The Belize dollar (BZ$) is the official currency of Belize, and it is pegged to the US dollar at a ratio of 2 BZ$ to 1 USD. While you can use US dollars at most businesses in Belize, it is recommended that you carry the local currency with you.
You can exchange currency at most banks and hotels in Belize. Major banks in Belize include the Bank of Nova Scotia, Atlantic Bank, and Belize Bank. Many banks that offer currency exchange are often located near the main plaza in cities.
It is also possible to exchange money at a casa de cambio (exchange house). If you are arriving in Belize by land from Mexico or Guatemala, you will encounter freelance money changers, known as "peseros", who may offer a better exchange rate compared to banks. However, it is recommended to avoid unlicensed money changers, as they are not always trustworthy.
ATMs are available in most major towns in Belize and usually accept foreign cards. However, they only dispense Belize dollars and may charge a fee for each withdrawal. It is important to note that some ATMs may have withdrawal limits, typically around BZ$500 per day.
Credit cards are another option for accessing money in Belize, as they are widely accepted, provide a record of expenses, and generally offer good exchange rates. Major credit cards such as MasterCard, Visa, and American Express are accepted in Belize, although smaller businesses may only take Visa and MasterCard.
It is always a good idea to bring a variety of payment methods when travelling, including cash, credit cards, and traveller's checks.
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Accepted payment methods
The official currency of Belize is the Belize Dollar (BZD), which is pegged to the US dollar at a fixed rate of 2 BZD to 1 USD. This means that you can use both currencies interchangeably at most businesses in Belize, although smaller establishments may only take Belize dollars.
US dollars are widely accepted in Belize, and you can receive change in either currency. However, you cannot pay using US coins, so it is best to leave those at home. If you are travelling from the US, it is recommended to simply bring US dollars with you, as the exchange rate is the same as in Belize. If you are travelling from another country, it is best to exchange your money into USD before arriving in Belize.
Credit cards are gaining popularity in Belize, but they may not be widely accepted outside of restaurants, bars, tour offices, and hotels. Visa and MasterCard are widely accepted, while American Express and Discover are rarely accepted due to their high merchant fees. It is a good idea to carry cash for tips and smaller purchases, as smaller bills are more widely accepted than large ones.
ATMs can be found in all major towns and tourist areas, and they usually accept foreign cards. However, they only dispense Belize dollars and may have daily withdrawal limits. Additionally, you will be charged two separate fees for each withdrawal, and Belize dollars are only accepted within Belize and some towns immediately over the border. Therefore, it is recommended to avoid withdrawing large amounts of cash, especially towards the end of your stay.
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Currency denominations to carry
The Belize dollar is the official currency of Belize, but US dollars are widely accepted. The Belize dollar is pegged to the US dollar at a rate of 2:1, so it's easy to calculate the value of each currency. This means that you can pay for things in US dollars and receive change in Belize dollars. However, you cannot pay using US coins, so it's best to leave these at home.
It's worth noting that smaller establishments may only take Belize dollars, and some businesses may not accept large denomination notes, so it's a good idea to carry smaller bills. Some sources suggest that you will receive a better exchange rate for your US dollars in Belize, where the rate is 2:1, than if you were to exchange your money into Belize dollars before arriving in the country. However, other sources suggest that you may get a slightly more favourable rate in Belize, where the rate can be as much as 2.05:1 or 2.01:1.
ATMs are available in most major towns and tourist areas, and they usually accept foreign cards, including Visa, Mastercard, Plus and Cirrus. However, they will only dispense Belize dollars, and there may be a daily withdrawal limit. You will also be charged two separate fees each time you withdraw money, and it can be very difficult to exchange Belize dollars for other currencies once you leave the country.
If you are travelling from the US, it is recommended that you bring US dollars with you. However, if you are travelling from another destination, it is best to exchange your money into US dollars before you arrive in Belize.
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Currency exchange rates
The Belize dollar (BZD or BZ$) is the official currency of Belize. It is pegged to the US dollar at a ratio of 2:1, meaning two Belize dollars will always equal one American dollar. This fixed exchange rate is set in law and makes it easy to calculate the value of your money in Belize.
US dollars are widely accepted in Belize and can be used interchangeably with Belize dollars at most businesses. However, smaller establishments may only take Belize dollars, and you will receive your change in local currency. It is also worth noting that US coins are not accepted in Belize, so it is best to leave these at home.
If you are travelling from the US to Belize, it is not necessary to exchange your currency, as US dollars are so widely accepted. In fact, exchanging your money into Belize dollars may result in a worse exchange rate than the standard 2:1 rate.
If you are travelling from another country, it is recommended to exchange your currency into US dollars before arriving in Belize, as this will provide a better exchange rate than exchanging your money directly into Belize dollars.
ATMs are available in most major towns and tourist areas in Belize, and they usually accept foreign cards. However, they will only dispense Belize dollars and may charge a fee for each withdrawal. It is important to note that Belize dollars are generally worthless outside of Belize, so it is advisable to convert any remaining Belize dollars back into your preferred currency before leaving the country.
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Dealing with leftover Belize dollars
Belize dollars are generally worthless outside of Belize, and few places will exchange them. If you have any leftover Belize dollars, it is best to convert them back to your local currency before you leave the country.
You can exchange leftover Belize dollars at the airport, at a bank, or at a currency exchange business. Some upper-end hotels may also be able to exchange your leftover Belize dollars.
If you are unable to exchange your Belize dollars before you leave the country, there are a few other options. You could try exchanging them at a foreign exchange office in your home country, but the exchange rate will likely be very unfavourable. Another option is to save the Belize dollars for your next trip to Belize. Alternatively, you could consider donating the money to a local charity in Belize or giving it as a tip to someone who has provided you with good service during your trip.
It is worth noting that Belize law allows individuals to bring in a maximum of $5,000 USD in cash, so if you are planning to bring a large amount of cash with you, be sure to declare it upon entry.
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Frequently asked questions
No, you don't need to exchange your USD for BZD as the Belizean currency is pegged to the US dollar at a rate of 2:1. You can use USD at most businesses in Belize, but you will receive your change in BZD.
It is possible to use credit cards in Belize, but they may not be widely accepted outside of tourist areas. It is a good idea to carry more than one card as a backup. Debit cards will not work in Belize, but you can use them to withdraw cash from ATMs.
If you are travelling from the US, it is not necessary to exchange your money beforehand. You can exchange USD for BZD at most banks in Belize, some upper-end hotels, and currency exchange businesses. You can also withdraw BZD from ATMs, which are available in most major towns and tourist areas.
