Transfer Money From Belize To The Us Securely

The official currency of Belize is the Belize Dollar (BZD; symbol BZ$), which is pegged to the US dollar at a fixed rate of BZ$2 to US$1. This means that US dollars are widely accepted in Belize, and travellers can use both currencies interchangeably at most businesses. However, smaller establishments may only take Belize dollars, and it is recommended to carry smaller bills to pay for taxis, meals, and tips. While US dollars are readily accepted in Belize, the reverse is not true, and it can be difficult to exchange Belizean dollars for other currencies outside of the country. Therefore, travellers are advised to convert any leftover Belizean dollars back into US dollars or another preferred currency before departing Belize.

Using US dollars in Belize

The Belize dollar (BZD) is the official currency of Belize, but many businesses in Belize accept US dollars. The Belize dollar 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 at most businesses in Belize, although smaller establishments may only take Belize dollars.

If you are travelling from the US to Belize, you can use your US dollars in Belize, and you will receive your change in either American or Belize dollars. However, you cannot pay using US coins, so it is best to leave those at home. It is also important to note that the Belize dollar is generally worthless outside of Belize, so it is recommended to only exchange the amount of money you need.

ATMs in Belize usually accept foreign cards, and there are ATMs in all the bigger towns and tourist areas. However, these ATMs only dispense Belize dollars and often have daily limits and fees for each withdrawal. Credit cards are also gaining popularity in Belize and are accepted at most larger hotels, restaurants, and shops, although some establishments will include a surcharge for credit card use.

When paying for goods and services in Belize, it is important to be aware of the prices, as they may be listed in US dollars or Belize dollars. Usually, more expensive items, such as hotels or tours, are priced in US dollars, while prices on menus or in shops and restaurants are in Belize dollars. It is always a good idea to clarify which currency is being quoted to avoid any confusion.

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 US dollars are widely accepted in Belize, and you can pay for things in either currency. However, you will receive your change in Belize dollars. US coins are not accepted in Belize, so it is best to leave these at home.

If you are travelling to Belize from the US, it is not necessary to exchange your money, as the exchange rate is fixed at 2:1. If you are arriving from another destination, it is best to exchange your money into US dollars before arriving in Belize, as the rates for other currencies are less favourable.

You can exchange money at most banks and hotels in Belize. Many banks that exchange currencies, 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 important to keep your receipt after exchanging currency.

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. Additionally, there is usually a daily withdrawal limit of around BZ$500. Banks that are part of the Global ATM Alliance, such as Bank of America, Deutsche Bank, Barclays, BNP Paribas, and Scotiabank, do not charge a fee for cash withdrawals at their ATMs.

Withdrawing money from ATMs in Belize

ATMs can be found in all the bigger towns and tourist areas in Belize, and they usually accept foreign cards. The Belize Bank has established the only nationwide ATM network in the country, with 45 ATMs distributed across Belize. This network accepts all cards bearing the VISA, MasterCard, Plus, and Cirrus logos. The Atlantic Bank is another option, offering free ATM withdrawals and accepting international Visa or MasterCard credit or debit cards.

It's important to note that some ATMs may charge a fee for each withdrawal and enforce a daily withdrawal limit, typically around BZ$500. Additionally, you may be charged two separate fees for each transaction. Banks that are part of the Global ATM Alliance, such as Bank of America, Deutsche Bank, and Barclays, do not charge a fee for cash withdrawals at the ATMs of other alliance members.

When using ATMs in Belize, it is recommended to use smaller denominations as some establishments may not have enough change for large bills or may be concerned about counterfeit bills. It is also advisable to carry bills in good condition, as some places may not accept bills that are bent, torn, or worn.

Overall, withdrawing money from ATMs in Belize is a convenient option, especially with the widespread acceptance of Visa and MasterCard. However, it is important to be mindful of any associated fees and withdrawal limits.

Using credit cards in Belize

Credit cards are becoming more widely accepted in Belize, especially in tourist areas and larger establishments such as hotels, restaurants, and shops. However, cash is still the preferred and more popular option, so it is always a good idea to carry some local currency.

The most commonly accepted credit cards in Belize are Visa and Mastercard. These are generally preferred by merchants due to the high fees associated with American Express. Some places may also accept cards from American Express (AmEx), Diners Club, and Discover, but it is less common. It is recommended to check with your card provider to ensure that Belize dollar currency conversion is supported and that your card can be used with the card machines and ATMs in Belize.

When using a credit card in Belize, you will be charged several fees, including foreign exchange fees and currency conversion fees. These fees are typically charged by your credit card company, your bank or card provider, and the ATM network (if you're withdrawing cash). These fees can add up, so it is important to be aware of them before your trip. To avoid high fees, consider using a prepaid travel debit card or a multi-currency card, which usually has lower fees and exchange rates.

Before travelling to Belize, it is a good idea to notify your credit card company and bank. This will prevent any issues or suspicions when foreign charges start appearing on your statement.

When paying with a credit card in Belize, the process is similar to that in your home country. You will typically need to confirm the transaction amount, tap or insert your card, enter your PIN if prompted, and wait for the payment to be authorised and the receipt to print. It is recommended to keep your receipts for your records and to reconcile your credit card statement.

Declaring money when entering Belize

When entering Belize, it is important to be aware of the country's regulations regarding currency declaration. Here is some detailed information on what you need to know and do:

Belize law allows individuals to bring in a maximum of $5000 US dollars in total, regardless of the form of the currency (cash, cheques, bearer bonds, etc.). This limit is per adult individual. It is important to note that this regulation applies to all visitors, regardless of their country of origin.

All visitors are required to declare their total currency holdings upon entering the country if they exceed $5000 US dollars. This declaration must be made on a Disembarkation Card, which is attached to the Embarkation Form that flight attendants will provide during your flight to Belize. These documents must then be presented to the Belize Customs Authority upon arrival at any air, sea, or land entry point.

It is crucial to accurately declare the total sum of money to avoid legal consequences. Violators of this regulation may face arrest and/or fines triple the amount of any undeclared funds. Therefore, ensure that you accurately fill out the required forms and have them ready for presentation to customs officials when entering Belize.

If you are a Belizean passport holder who does not reside in the country, you are exempt from certain restrictions. However, you must still declare any money or financial instruments with a value equal to or exceeding $5000 in US dollars or their equivalent.

When entering Belize by land from Mexico or Guatemala, you may encounter freelance money changers, often called "peseros". While these money changers may offer more favourable exchange rates compared to banks, it is recommended to use official money changing services inside Belize to avoid potential issues.

By following these instructions and being mindful of the currency declaration requirements, you can ensure a smooth entry process into Belize and avoid any legal complications.

Frequently asked questions