Travel, Currency and Money saving tips for Bermuda
The Bermuda dollar is pegged to the U.S dollar through gold on an equal basis i.e. BD$1 = US$1. Although the legal tender is the BD, USD is generally accepted in shops, restaurants and hotels. ATMs are plentiful making cash easily accessible but, as always, be wary of possible fees imposed for each withdrawal. it's wise to always have some petty cash on you as you'll need it to pay for bus and ferry tickets, taking taxis, tipping bellhops, and paying in some cheaper restaurants. BDs are difficult to exchange outside of the country so exchange any remaining dollars before you leave.
Travel money for Bermuda
Save money and time by Ordering your Bermudan Dollars online from Travelex, you get better rates and can pick
up the BMD 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 Bermudan Dollars otherwise you may get much worst exchange rates.
Sending money to Bermuda
When searching around for information on how to get a good exchange rate when sending money to Bermuda you need to start with finding out the latest
Bermudan Dollar foreign-transfer exchange rate.
Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much
you can save (we make that calculation easy here).
Get a better deal for foreign transfers to Bermuda
When sending money to Bermuda 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 4 simple steps :
Open an account with a BER reviewed FX provider (id docs may be required)
You specify the local or Bermudan 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 BMD amount will be transfered to the recipient account you specify in Bermuda.
Use our Send to Bermudan Dollars calculator to compare the exchange 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 Bermudan Dollars deposited into the recipient bank account and less margins and fees kept by the banks!
General advice: The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any legal, accounting or financial decisions. The foreign exchange rates and products compared on this page and website are chosen from a range of products that bestexchangerates.com (BER) has access to and are not
representative of all the products available in the market.
We may receive referral fees in relation to your activity on the BER website however this doesn't affect the exchange rates or fees you are charged.
The use of terms "Best" and "Top" are not product ratings and are subject to our disclaimer.