Belize's Preferred Payment Method: Visa Vs. Mastercard

If you're planning a trip to Belize, you may be wondering whether your Mastercard or Visa card will be widely accepted. The short answer is yes, Mastercard and Visa are commonly accepted in tourist areas, along with cards from other major global providers like American Express. However, it's worth noting that cash is still the more popular option in Belize, so it's a good idea to carry cash, especially when venturing outside of tourist areas.

Visa and Mastercard are widely accepted in tourist areas

If you are travelling to Belize, it is a good idea to carry cash as well as your card. It is also recommended to keep travellers' cheques as a back-up, but make sure to keep them in a waterproof pouch as they are considered void if they get wet.

In terms of using your Visa or Mastercard in Belize, the process is the same as using your card in your home country. You will need to confirm the transaction amount, tap, insert or swipe your card, enter your PIN if prompted, and then wait for the payment to be authorised and the receipt to print.

It is worth noting that there may be additional fees when using your credit or debit card in Belize. Your card company and bank may charge foreign transaction fees, and some businesses in Belize may also apply surcharges of up to 5% on credit card use. Therefore, it is a good idea to check with your card issuer about any fees that may be added to foreign transactions before your trip.

Cash is king in Belize

Belize is a small Central American country with a population of approximately 400,000 people of primarily mixed Mestizo, Creole, Mayan and European descent. The official currency of Belize is the Belize Dollar (BZD), which is hard-pegged to the US dollar at a fixed rate of BZ$2 to US$1. While credit cards are accepted in Belize, particularly in tourist areas, cash is by far the more popular option.

The use of cash is deeply ingrained in the local culture, and it is not uncommon for businesses to transact solely in cash to avoid the processing fees associated with card transactions. This preference for cash is evident in the warning issued by the US State Department, advising travellers to be extra vigilant when visiting banks or ATMs in Belize due to the high incidence of crimes such as robbery and theft.

When travelling to Belize, it is advisable to bring a mix of US dollars and Belize Dollars in smaller denominations to facilitate seamless transactions. While some businesses and ATMs accept foreign cards and US dollars, it is essential to be prepared with local currency to avoid inconveniences. Additionally, travellers should be cautious about carrying large sums of cash and should instead consider using ATMs or carrying a prepaid travel debit card to access funds when needed.

Belize's tourism sector, the leading industry in the country, largely caters to visitors paying in cash or with credit cards from major global providers like Visa and Mastercard. However, it is always a good idea to check with your specific card provider to ensure that your card is accepted and to understand any associated fees.

In conclusion, when visiting Belize, it is essential to recognise that cash is the preferred payment method for most transactions. While credit cards may be accepted in tourist areas, having local currency and smaller denominations will make your travel experience smoother and more enjoyable.

Cards are less accepted in non-touristy regions

Credit cards can be used in Belize, but it can become costly due to currency exchange fees and other charges. Cards issued by major global providers like Visa and Mastercard are widely accepted in touristy areas. However, if your card is issued by another company, such as American Express, Diner's Club, or Discovery, it's a good idea to check with your bank or card provider to ensure that Belize dollar currency conversion is supported and that card machines and ATMs in Belize commonly support cards of this type.

Additionally, it's important to be aware of the various fees associated with using a credit card in a foreign currency. These fees are charged by the credit card company, your bank or card provider, and the ATM network (if withdrawing cash). Unless your credit card is specifically designed for international spending, you will likely incur these additional charges.

As such, it is recommended to have cash on hand when travelling to non-touristy regions in Belize. Some businesses may prefer cash payments to avoid the processing fees associated with card transactions.

Prepaid travel cards can be a cheaper alternative to credit cards

Prepaid travel cards, also known as 'currency cards', are a secure and convenient alternative to credit cards when travelling. They are widely accepted, offering the same security features as credit and debit cards, and can be used anywhere that accepts Mastercard or Visa.

Prepaid travel cards allow you to load money in your home currency and spend in another currency, usually with no additional fees. They also enable you to lock in competitive exchange rates, which can save you money compared to using a standard credit or debit card.

For example, if you are travelling to Belize, you may find that a prepaid travel card is a cheaper option than a credit card. While credit cards are accepted in Belize, particularly in tourist areas, they often come with multiple fees and charges. Prepaid travel cards, on the other hand, allow you to lock in an exchange rate before your trip, giving you certainty over your budget.

However, it is important to be aware of the potential fees associated with prepaid travel cards. These can include application fees, monthly fees, transaction fees, and withdrawal fees. Additionally, some prepaid cards may have low withdrawal limits and may not be accepted for certain types of transactions, such as car rentals or petrol purchases.

Overall, prepaid travel cards can be a cheaper and more convenient option than credit cards when travelling, especially if you are able to find one with low or no fees. They can help you stick to your budget and provide security and flexibility when spending money abroad.

Foreign-issued cards are accepted at some banks

ATMs that accept Visa, Mastercard, and some other cards can be found at banks in every city and main town in Belize. However, some banks charge an ATM fee, and different banks have different maximum limits for withdrawals. For example, Belize Bank has a maximum withdrawal limit of BZ$500 with a BZ$3 ATM fee, while Scotiabank charges BZ$4 for withdrawals with a maximum limit of BZ$800.

It is worth noting that credit card fraud is common in Belize, with several fraud rings currently active in the country, particularly in San Pedro. Therefore, it is important to be vigilant when using your card and to report any issues immediately.

Frequently asked questions