Foreign Exchange Guide to Bahamas
In this guide we review :
- Bahamian dollar info - general info about the Bahamian dollar
- Travelling in Bahamas - currency & money saving tips
- Buying Bahamian dollar cash online - travel money for Bahamas
- Sending money to Bahamas - save on Bahamian dollar bank transfers to Bahamas
- Bahamian dollar exchange rates - latest info & charts.
Bahamian dollar (BSD) general currency information
Bahamas currency and money saving tips
Like most islands in the Caribbean, the Bahamas are an expensive destination. The Bahamian dollar and the US dollar are both accepted throughout the islands. Banking hours are Monday through Thursday, 9:30 a.m. to 3:00 p.m., and Friday from 9:30 a.m. to 4:30 p.m. In Nassau/Paradise Island there are ATMs at both Paradise Island and Cable Beach casinos, and commercial banks. In Grand Bahama, they can be found at major banks, the casino and Port Lucaya and on The Out Islands, ATMs are at banks on all of the major islands.
Nassau and Freeport Have dozens of jitneys (private minibuses) licensed to operate on pre established routes. Out Islands There’s not much public transportation as Taxi is the main means of getting around cities in the Bahamas. Renting a bike can be a good alternative. Tickets to the more expensive nightclubs can often be bought at a huge discount from hotels and taxi drivers.
For more travel tips and ideas on ways to save money when traveling in the Bahamas read our Bahamas Travel guide
Bahamas Trip Checklist
Travel money for Bahamas
Save money and time by Ordering your Bahamian dollar online from Travelex, you get better rates and can pick up the BSD cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Bahamian dollar otherwise you may get much worst exchange rates.
Sending money to Bahamas
When sending money to Bahamas it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Bahamian dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted BSD amount will be transfered to the recipient account you specify in Bahamas.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Bahamian dollar deposited into the recipient bank account in Bahamas and less margins and fees kept by the banks!