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Belize 101: Spending Money!

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Understanding Currency

One of my favorite adventures in any new country is the local currency.  I find it interesting to see how each country divides their denominations, what the coins or paper actually look like, current exchange rate and making purchases in this different currency.  It is almost like learning a new language. 

The Importance of Money When Entering a Foreign Country

Although this is more important in some countries than others, it is extremely important to be aware of the local money customs, availability and acceptance of credit cards prior to your departure from home.  In the case of Belize, US currency is widely accepted at restaurants, stores, gas stations, etc.  We also found credit cards to be widely used and accepted even at small stores and restaurants.  But let’s get into some details so you are familiar with the customs and currency before your arrival into Belize.

Exchange Between US Currency and Belize Dollars

When making purchases in another currency, it is important to know and understand the exchange rate. This allows you to understand how much you are spending.  This bit of knowledge keeps you to your trip budget (always important!) and to know if the item or service you are purchasing is worth the price you are being asked to pay.  You will note the Belize dollar (BZ$) is fixed to US dollar (US$) and easily calculated.  For decades US$ 1.00 exchanges for BZ$ 2.00.  It is just that easy!  The first time you see on a menu that the main dish you were eyeing is BZ$18.00, remember that meal is “really” US$9.00 when calculating your budget. 

Receiving Change in Belize

When making purchases in Belize with cash, you will be returned change in BZ dollars no matter what currency you used to pay.  If you give the waiter a US$ 40 for dinner, the change given to you will be in BZ dollars.  So, for instance, if dinner and drinks total BZ$57.00, calculate US$28.50.  If you give the waiter US$40.00 you will receive BZ$24.00 in change.  It is a bit of easy math, but you will see how it works in action when your adventure to Belize begins!  Now you have BZ$24.00 to spend when giving tips or other small items.

Banks in Ambergris Caye, Belize

During our time in San Pedro, we found 6 banks within easy walking in town.  The most recognizable include:  Scotia Bank  https://maps.scotiabank.com/  However we also found Atlantic Bank https://www.atlabank.com/ and Belize Bank https://www.belizebank.com/

Tipping for Good Service

Being familiar with local tipping expectations and customs is vital when traveling!  For instance, tipping in Japan is frowned upon and is somewhat of an insult!  UGH!!  I don’t want to ever insult someone!

Tipping in Belize will be very familiar as it is basically the same as when receiving services in the US.  In bars and restaurants, a 10%-15% tip is customary for good service.  Waiters are low wage workers and we found them to appreciate tips when given.  I would recommend tipping directly to the waiter or bar tender rather than including the tip amount on the credit card receipt.  This ensure your generosity gets to the person you are wishing to tip. 

We found making purchases, spending US$ and BZ$ to be easy and credit cards to be widely used.  As always be cautious when carrying money in paper, coin or plastic!  Use common sense!  Divide your resources between people in your party so if one person has problems, all your resources are not lost!  I have mixed feelings about hotel safes…. I have used them…. with caution.  I would also recommend stashing cash and credit cards in multiple places in your luggage or belongings.  Store cash and credit cards in unusual places and containers.  For instance, I have seen people role paper currency and place it in empty chapstick tubes!  Be creative but don’t forget what you have done with your money and hide it from yourself!

Enjoy the Adventure Travel Addicts!

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