This is a foreign exchange guide to Bermuda, the Bermudan Dollar currency plus sending BMD transfers and travel tips.
In this Bermuda currency guide we take a look at :
- Bermudan Dollar info - general info about the Bermudan Dollar
- Bermudan Dollar in the markets - recent BMD moves and predictions from the FX markets
- Travelling in Bermuda - currency & money saving tips
- Buying Bermudan Dollar cash online - travel money for Bermuda
- Sending money to Bermuda - save on Bermudan Dollar bank transfers to Bermuda
- Bermudan Dollar exchange rates - latest & historic exchange rates.
Bermudan Dollar (BMD) general currency information
What is the Bermudan Dollar currency code and symbol?
The three letter currency code for the Bermudan Dollar is BMD and the symbol is B$.
Which countries use the Bermudan Dollar?
It is the domestic currency in Bermuda.
Bermudan Dollar (BMD) in the markets
The interactive chart below shows the USD to BMD exchange rate and trend for the previous 3 months:
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 Dollar 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 Dollar otherwise you may get much worst exchange rates.
Bermuda Trip Checklist
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 BMD 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!