ANZ Bank USD to BMD Travel Money Compared

Currency Guide for Bermuda (ISO Code: BM)

When planning a one-week mid-range stay in Bermuda, travelers should budget approximately $2,000–$3,000, factoring cultural experiences, dining, accommodations, and activities. Daily expenses in Bermuda can be higher than many travelers expect. Here’s a quick overview of typical costs (noting amounts in Bermudian Dollars, BMD):

• 🍽️ Meal at a local restaurant: 25-50 BMD

• ☕ Coffee: 4-7 BMD

• 🚌 Public transport fare: 5 BMD (one way)

• 📶 Prepaid SIM card: 20-30 BMD

• 🏨 Budget hotel or Airbnb: 150-300 BMD per night

Overall, Bermuda tends to be expensive to visit compared to both the United States and the UK, given the relatively high prices for meals and accommodations. In the U.S., a mid-range trip may cost about 20-30% less, while costs in the UK are comparable for certain items but can also rise quickly, mirroring Bermuda's pricier dining options.

Expat Living in Bermuda

For expatriates moving to Bermuda, understanding the local cost of living is crucial. Monthly living expenses can range from 3,500-6,500 BMD, including rent, utilities, groceries, and leisure. Expect to pay about 2,000-3,500 BMD for a one-bedroom apartment in the city center. Utility bills can add another 250-400 BMD, and a basic grocery shop for one can be around 300-500 BMD monthly.

Regarding banking and money transfers, it’s advisable to maintain a local bank account for day-to-day expenses. Beyond that, credit and debit cards are widely accepted, but fees for international transactions can be high. When sending or receiving money, local exchanges might not be the most economical option. Instead, leveraging online transfer services like Wise or OFX often yields better rates and lower fees compared to traditional bank transfers—especially if you’re moving larger amounts. In summary, doing your due diligence on currency exchange options can save you a significant amount of money over time.