Currency in Bermuda: BMD Send & Spend FX Guide
Resources for Expats, Travelers and Entrepreneurs Navigating Life and Trade in Bermuda with the Bermudan dollar.
What's in this Bermuda currency guide?
What currency is used in Bermuda?
The official currency of Bermuda (country code: BM) is the Bermudan dollar, with symbol B$ and currency code BMD.
What is a good Bermudan dollar exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Frequently Asked Questions
What currency should I use in Bermuda?
The domestic currency in Bermuda is the Bermudan dollar.
What is the Bermudan dollar currency code and symbol?
The three letter currency code for the Bermudan dollar is BMD — symbol is B$.
What does the Bermudan dollar look like?
Here is an example Bermudan dollar banknote:
Which countries use the Bermudan dollar?
It is the domestic currency in Bermuda.
Is the Bermudan dollar a closed currency?
No, the Bermudan dollar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of SRD and BMD?
Here are some popular conversion amounts for SRD to BMD (Surinnse dollar to Bermudan dollar)*.
*Converted at the current SRDBMD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Bermuda
Using Wise for Bermudan dollar travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Bermudan dollar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Bermudan dollar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the BMD cash locally or even on travel day at the airport.
USD/BMD Market Data
The below interactive chart displays the USD/BMD change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Bermuda - Best Rates
To get a good (and fair) exchange rate when sending money to Bermuda you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
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 the above 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 dollar deposited into the recipient bank account and less margins and fees kept by the banks!
