Money and Currency in Bermuda
When planning a trip to Bermuda, the first question many visitors have is about money and Bermuda currency. Many wonder whether they’ll need to exchange for Bermuda Dollars, if they’ll be able to use their credit cards or if US Dollars will be accepted.
Understanding how money works in Bermuda is relatively simple, especially for visitors from the United States, but it is still helpful to know what to expect before you arrive. This guide explains everything visitors need to know about Bermuda currency, including cash, credit cards, tipping, and practical money tips for traveling around the island.
Bermuda Currency Table of Contents
What Currency is Used in Bermuda?
The official currency of Bermuda is the Bermuda Dollar (BMD). The Bermuda Dollar is fixed to the US Dollar (USD) at a 1:1 exchange rate, which means that 1 Bermuda Dollar always equals 1 US Dollar.
Both Bermuda Dollars and US Dollars are accepted throughout Bermuda, and visitors can use either currency for most purchases including restaurants, taxis, shops, and attractions. However, if you pay in US Dollars, you will usually receive change in Bermuda Dollars.
Bermuda Dollars are not typically used outside of Bermuda, so visitors often spend any remaining Bermuda cash before leaving the island.
Can You Use US Dollars in Bermuda?
Yes, US Dollars are accepted everywhere in Bermuda. Visitors from the United States do not need to exchange money before arriving, and many people simply use US cash during their visit.
Prices in Bermuda are usually listed in Bermuda Dollars, but since the Bermuda Dollar and US Dollar are equal in value, the price is effectively the same in either currency.
This makes Bermuda one of the easiest destinations for US travelers when it comes to currency and payments.
Should You Exchange Money Before Visiting Bermuda?
In most cases, there is no need to exchange money before visiting Bermuda, especially for visitors coming from the United States. Since US Dollars are accepted across the island and the exchange rate is fixed at 1:1, exchanging money is usually unnecessary.
If you would like Bermuda Dollars, you can withdraw cash from ATMs in Bermuda, which dispense Bermuda currency. Visitors from other countries often find it easier to use credit cards or withdraw Bermuda Dollars from an ATM after arriving.
Credit Cards and Debit Cards in Bermuda
Credit and debit cards are widely accepted throughout Bermuda, including in restaurants, hotels, shops, and attractions. Major cards such as Visa and Mastercard are commonly accepted, and many businesses also accept American Express.
While cards are accepted in most places, it is still a good idea to carry a small amount of cash for smaller purchases, tips, taxis, or places that may have minimum card charges.
Do You Need Cash in Bermuda?
You do not need to carry large amounts of cash in Bermuda, but it is helpful to have some cash for small expenses such as:
- taxis
- tips
- small shops
- beach vendors
- bus and ferry tickets
- small restaurants or cafés
Many visitors find that $40 to $80 in cash per day is usually enough for small purchases and tips.
Tipping in Bermuda
Tipping in Bermuda is similar to the United States. A tip of 15% to 20% is common for good service in restaurants and taxis. Some restaurants and hotels automatically include a service charge, so it is a good idea to check your bill before leaving an additional tip.
Hotel staff, taxi drivers, and tour guides also typically receive tips for good service.
ATMs in Bermuda
ATMs are available throughout Bermuda, including in the City of Hamilton, the Royal Naval Dockyard, and other major areas. ATMs dispense Bermuda Dollars, and your bank may charge international withdrawal or foreign transaction fees, so it may be helpful to withdraw enough cash at one time to reduce fees.
Is Bermuda Expensive?
Bermuda is known for being a relatively expensive destination compared to many other Caribbean islands. Prices for restaurants, transportation, and accommodations can be higher than visitors expect, so it is helpful to plan a budget before your trip.
However, many visitors find that planning transportation, restaurants, and activities in advance helps them manage their budget and avoid surprises during their visit.
Quick Money Tips for Visitors to Bermuda
- US Dollars are accepted everywhere
- Bermuda Dollars are equal in value to US Dollars
- Credit cards are widely accepted
- Carry small cash for taxis, tips, and small purchases
- ATMs dispense Bermuda Dollars
- Prices are listed in Bermuda Dollars but equal US Dollars
Summary of Bermuda Currency
Understanding Bermuda currency is relatively simple, especially for visitors from the United States. Since the Bermuda Dollar is equal in value to the US Dollar and both currencies are accepted across the island, visitors do not need to worry about exchange rates or complicated currency conversions.
With a basic understanding of how money works in Bermuda, visitors can focus on enjoying the island’s beaches, restaurants, attractions, and scenic views without worrying about currency during their trip.