Are you longing for the colorful Caribbean coast, tropical jungle, and lots of sun and sand? Then you’re probably planning your trip to Belize and are already looking forward to colorful coral reefs and an unforgettable time in Central America. But what exactly is the payment like there? What currency is used in Belize and how can I withdraw money there? I will answer all your questions in the following article.

What else you should know:

  • What else you should know:
  • Belize currency
  • Withdrawing money in Belize
  • Fees for withdrawing money
  • Exchanging money locally
  • Paying with a credit card
  • Safety tips for your trip
  • The best travel credit card for Belize
  • Belize currency – current prices
  • Conclusion on the topic of currency in Belize

Belize currency

The official currency in Belize is the Belize dollar, abbreviated as “BZD.” On your trip to this small country on the coast of Central America, you will (have to) pay a lot with cash, in addition to your cards. In Belize, coins of 1, 5, 10, 25, 50 cents, and 1 Belize dollar are used, as are banknotes of 2, 5, 10, 20, 50, and 100. Currently, you can get around 2.27 BZD for 1 €.

Another common currency, which is accepted almost everywhere in the country, is the US dollar ($). So, when traveling in Belize, it’s definitely worth having both currencies with you. Bolle and Marco carried about $200 with them during their Belize trip and otherwise always withdrew cash from ATMs using their credit cards. The ratio between the US dollar and the Belize dollar is very simple: 1:2.

Withdrawing Money in Belize

In general, you can easily withdraw cash from an ATM in Belize. ATMs are particularly common in large cities and tourist regions, such as Belize City, Belmopan, Corozal Town, Dangriga, Punta Gorda, and Caye Caulker. Bolle and Marco have found that you can easily withdraw money from most ATMs using a standard Visa card.

But be careful! You won’t always find an ATM in rural areas of Belize. It’s always a good idea to have enough cash on hand in advance. The most common banks in Belize that are affiliated with the international credit card network include Scotiabank, Belize Bank, and Atlantic Bank. If possible, you should withdraw your money from an ATM in a bank; these are more secure!

Currency Belize Credit Card ATM Withdrawal

The ATMs guide you through the withdrawal process fairly easily in English, and in 1 to 2 minutes, you’ll have enough cash. If you want to withdraw money with your credit card, you need to select “Cash Withdrawal” in the menu. Then, select your desired amount, enter your PIN, and receive your cash in the local currency (Belize dollars).

You can identify which credit and debit cards you can use to withdraw money from ATMs by the card logos (VISA, MasterCard, American Express, Cirrus, or Maestro). V-Pay cards, for example, are not accepted at all in Belize.

Withdrawal Fees

If you withdraw cash from an ATM with your credit card, your bank in Germany will charge you 1 to 4% of your withdrawn amount as a foreign transaction fee. When withdrawing cash with an EC card, there is a fixed amount that is charged for each withdrawal. This is usually between €5 and €10.

It’s therefore important that you check with your bank before your trip to find out how much the fees are abroad and whether it makes sense for you to apply for a travel credit card to be able to withdraw cash worldwide for free. You should get such a credit card especially for longer trips, as withdrawing cash will only unnecessarily burden your travel budget in the long run.

Exchanging money locally

I recommend bringing a few US dollars with you from Germany, as they are accepted everywhere in Belize. This way, you’ll have a little cash after landing. You can exchange money at an exchange office at the airport, but the rate is usually significantly worse than in the city.

You can easily locate exchange offices in the city using Google Maps. Shopping malls are also a good place to start, as they almost always have exchange offices. You can also exchange money at local banks. However, they usually don’t accept euros. Important: Do not exchange your money on the street! You can expect very poor exchange rates there, and it is a criminal offense punishable by very high fines and even prison sentences.

Paying by Credit Card

Cashless payments are also becoming increasingly popular in Belize, especially in tourist areas. You can usually pay with your credit card in most hotels, upscale restaurants, car rental companies, and larger supermarkets. However, fees apply here too: in Belize, a transaction fee of up to 5% is added to your payment. In addition, your bank will often charge you 1 to 4% of your total bill as a foreign transaction fee.

For me personally, the better option is to withdraw cash from an ATM with a credit card. Bolle and Marco have also been traveling through various countries this way for many years and have had hardly any problems so far. When purchasing a credit card, make sure that you can withdraw money from ATMs worldwide for free and also pay with the card worldwide for free.

Safety tips for your trip

Something can always happen abroad, and you should be prepared just in case. Check your existing spending limit before departure and adjust it if necessary. For security reasons, Bolle and Marco always have a maximum spending limit of €500 for their trips. This way, if fraudsters manage to hack your card despite all security precautions, at least they can’t withdraw unlimited amounts of money (this already happened to Bolle and Marco in Thailand). Check your credit card statement immediately after your trip to quickly identify any possible fraud.

You should also NEVER keep your PIN number together with your card. Memorize the PIN number and/or save it somewhere. Also, make sure no one is watching you withdraw money and cover the number pad with your hand. Also, don’t let anyone walk away with your card (waiters in restaurants, etc.). This way, you won’t see what’s going on behind the scenes.

Don’t just use the nearest ATM on the street. If you have the opportunity to visit a bank, it’s better to withdraw your money there. Street ATMs are often broken and can also be tampered with (although Bolle and Marco didn’t find out this on the spot). If you lose your card, call your bank immediately and have it blocked. So, you should always have your bank’s emergency number handy in case of an emergency.

The Best Travel Credit Card for Belize

Are you now looking for a suitable credit card for your trip to Belize? We’ve been using the Visa card from DKB* for many years and are still very satisfied. With this card, the two of them have always been able to easily withdraw money from ATMs and pay in hotels and shops. Although DKB no longer reimburses third-party ATM fees, it’s still a very good travel credit card for active customers (but beware: since 2022, you’ll be paying €2.49 per month for the credit card).

A very good alternative is the credit card from Hanseatic Bank*. It’s permanently fee-free and can be used at ATMs worldwide. Another advantage is that you can easily link your account with this Hanseatic Bank credit card without having to open another checking account (account management = free).

In our comprehensive credit card comparison, you can take a closer look at the different cards. We definitely recommend at least two credit cards for traveling abroad. It can always happen that a card is not accepted, stolen, or blocked. And what do you do then? You can’t access your money for a while. You can find all the information here: Security tips for credit cards.

Belize currency – current prices

To help you prepare for your trip and calculate your budget, I’ve selected some current prices for you here. These are not given in Belize’s currency, but in euros.

  • Bus ride: from €1 to €5 (depending on the route)
  • Hostel: from €13 per night
  • Double room (single): €20 to €40 per night
  • Restaurant visit: from €9 per meal
  • Street food: from €2 to €3
  • Milk coffee: €3.25
  • Mini donuts: €2.75
  • Bagel with cream cheese: €3.20
  • Small pizza: from €6
  • Quesadillas: from €4
  • Beer: from €1.50
  • Bottle of water (1.5L): €0.85
  • 1 stick of butter: €3.50 €
  • Milk: 1 €
  • Cornflakes: 2 €
  • Jam: 2.50 €
  • Pasta: 1.50 €
  • Cream cheese: 1.75 €
  • Packet of tea: 2 €

Conclusion on currency in Belize

As you can see, you won’t have any major problems paying in Belize. Just always have enough US dollars with you, which you can either use to pay in cash or exchange for the local currency, the Belize dollar. You should also have a VISA or MasterCard credit card with you so you can withdraw money from an ATM. I would avoid paying with a credit card due to the high fees.

For a backpacking trip, you should expect a daily budget of around €40 per person (excluding flights). Be sure to check out Bolle and Marco’s post about the cost of the trip. There, you’ll find out in detail how much their two-week trip cost. So, what are you waiting for? Have you booked your flights yet?