So your next destination is the gorgeous Bahamas, with its chain of seven hundred islands spanning over five hundred miles in the Atlantic Ocean. Its unmatched beauty of powdery white sandy beaches, pink sands in Harbour Island, and clear blue ocean water make this a true paradise for vacationers, but can you use US dollars in the Bahamas?
The Bahamas use the Bahamian dollar as its currency. Still, all businesses on the island readily accept the US dollar. The Bahamian dollar is kept at a one-to-one ratio to the US dollar and, to avoid any confusion, is shown as B$ versus $ for the American dollar.
Traveling abroad always has a bit of uncertainty, so preparing yourself before jetting off on your paradise adventure is always a great idea. Below we look at what currency is preferred in the Bahamas, whether it is cash that is king or are credit card facilities available.
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Can You Use American Dollars In The Bahamas?
The Bahamas is a chain of sixteen inhabited islands that is part of the Commonwealth of Nations. Although the Bahamas is in close proximity to the United States Of America, the Islands do not make part of the United States; however, they do make use of the dollar currency for convenience to American tourists.
Most businesses in the Bahamas will accept both currencies as legal tender, and hotels and some businesses will also keep both currencies to give the client change back in the currency they paid with.
However, don’t expect businesses to exchange money for you. They will only give you Bahamian dollars back in change if you pay with BSD and vice versa.
As a precaution, it is best always to have a few Bahamian dollars at hand as some merchants may have their preferences and won’t deal in USD. It’s also better to have smaller denominations of BSD for tipping, public transport, and airport incidentals.
You will also find many street vendors and smaller businesses will only deal in cash, so it’s essential to carry some cash with you. Sometimes, you can bargain with vendors for better prices using USD notes, as some prefer this currency.
What’s The Currency Used In The Bahamas?
The Bahamas has its own currency, the Bahamian dollar. The code is BSD and is often seen as a B$ sign to differentiate from the American Dollar sign, $.
How Much Is It In USD?
The Bahamian dollar is evenly pegged to the USD, with one BSD equal to one USD.
BSD Denominations
The Central Banks of The Bahamas manages the BSD. The notes are all the same size and come in denominations of 1, 3, 5, 10, 20, 50, and 100 dollars. Coins are available from 5, 10, 15, and 25 cents.
Do They Accept Other Major Currencies?
Unfortunately, if you are traveling from another country, you will not be able to use other major currencies like Euros or Canadian dollars. These currencies will need to be converted to American dollars or Bahamian dollars at a local commercial bank.
What Time Are the Banks Open?
Time on the islands takes a more relaxed approach than the rest of the world. In the Bahamas, most banks open Monday to Thursday from 9.30 am to about 3 or 4 pm, while some banks will trade a bit later on Friday.
On the Family Islands or the Out Islands, some of these branches may only be open 2 to 3 days a week, and times may vary.
Can I Use Credit Cards In The Bahamas?
The Bahamas is still very much a cash-based society, especially in the smaller islands and communities. Smaller businesses and street vendors will only deal in cash, and you won’t be able to accommodate tourists that only have credit or debit cards on them.
However, credit and debit cards are widely accepted in larger businesses like hotels, restaurants, and supermarkets.
In general, the larger towns on the islands, like Nassau on New Providence, will readily accept credit cards. Still, you are better off keeping cash on hand if you plan to travel to the smaller and more remote islands.
What Credit Cards Are Accepted
Most hotels, restaurants, supermarkets, and larger businesses will accept most of the major debit and credit cards supported on the PLUS and CIRRUS networks.
Are ATMs Easily Available?
Most Major Out Islands like New Providence, Paradise Island, and Grand Bahama Island have access to ATMs that support the PLUS (visa cards) and CIRRUS (MasterCard).
ATMs are available 24 hours a day for convenience to visitors, and they are operated by the three commercial banks found in the Bahamas.
- RBC Royal Bank
- Scotiabank
- First Caribbean International
RBC Royal Bank and the Scotiabank ATMs have a few stations that will dispense US dollars, which can be found at the airport and the casino.
All three banks have ATMs that can be easily found at gas stations, all commercial banks, and casinos in Nassau and the Grand Bahamas Island and will accept Visa, MasterCard, and any other bank card that is on the CIRRUS and PLUS networks. The RBC Royal Bank also supports Maestro cards.
The smaller Out Islands will have some ATMs strategically placed but mainly located at banks, dispensing Bahamian dollars. Still, it is safer to withdraw cash before heading out to the more remote locations.
Click on the links to view the locations of the ATMs available for Scotiabank, RBC Royal Bank, and First Caribbean International.
Can I Keep Any Bahamian Money I Have Left?
At the end of the vacation, it’s best to exchange your leftover Bahamian dollars as the currency in the Bahamas is restricted. Departing the Bahamas with more than 200 B$ is illegal, so unless you are holding onto a few notes as memorabilia, it’s best to use any leftover local currency or exchange the remaining notes at a Bureaux de Change or at your hotel.
Conclusion
For American tourists, the Bahamas is a quick getaway that doesn’t need you to exchange any currency. The Bahamas have two recognized currencies, the USD and the local BSD, which are interchangeable and accepted by most businesses. Two major New Providence and Grand Bahamas islands have easy access to ATMs for easy cash withdrawals.
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