Foreign Exchange Guide to Jamaica
In this guide we review :
- Jamaican dollar info - general info about the Jamaican dollar
- Buying Jamaican dollar cash online - travel money for Jamaica
- Sending money to Jamaica - save on Jamaican dollar bank transfers to Jamaica
- Jamaican dollar exchange rates - latest info & charts.
Jamaican dollar (JMD) general currency information
Jamaica Trip Checklist
Travel money for Jamaica
Save money and time by Ordering your Jamaican dollar online from Travelex, you get better rates and can pick up the JMD 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 Jamaican dollar otherwise you may get much worst exchange rates.
Sending money to Jamaica
When sending money to Jamaica 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 Jamaican 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 JMD amount will be transfered to the recipient account you specify in Jamaica.
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 Jamaican dollar deposited into the recipient bank account in Jamaica and less margins and fees kept by the banks!