Where Can I Exchange Belize Dollars to US Dollars?

The Belize Dollar (BZD) is the official currency of Belize, pegged to the United States Dollar (USD) at a fixed rate of two BZD for every one USD. For individuals converting Belizean currency back to US Dollars, especially when departing the country, understanding proper exchange channels is important. This article provides guidance on where and how to conduct such exchanges.

Official Exchange Locations

Individuals can exchange Belize Dollars for US Dollars at several authorized locations throughout Belize. Commercial banks, such as Belize Bank, Atlantic Bank, and Bank of Nova Scotia, are primary venues for currency conversion. These institutions typically operate on weekdays, generally from 8:00 AM or 8:30 AM until 2:00 PM or 3:00 PM, often with longer hours on Fridays.

Beyond commercial banks, licensed money exchange bureaus also provide currency exchange services. These dedicated exchange houses may offer different operating hours, with some open on Saturday mornings. While some upscale hotels might offer currency exchange, their rates may not be as favorable as banks or licensed bureaus. It is advisable to avoid unofficial or freelance money changers, as these transactions lack formal oversight and carry higher risks.

Preparing for Your Exchange

Before exchanging currency, certain preparatory steps and documents are necessary for a smooth transaction. Individuals need to present valid identification, such as a passport, along with other pertinent travel documents when exchanging currency at commercial banks. Licensed money exchange businesses also require personal information, often necessitating the completion of a form. Having all required documentation readily available can expedite the process.

Physical Belizean currency must be in good condition. Banks and exchange bureaus may decline to accept bills that are significantly torn, heavily worn, or otherwise damaged. If you possess damaged Belizean notes, the Central Bank of Belize may be able to exchange them.

Travelers should also be aware of currency declaration requirements; any currency or financial instruments exceeding US$5,000 brought into or taken out of Belize must be declared to customs upon entry or departure. Beginning in January 2025, this declaration threshold will increase to US$10,000.

Understanding Rates and Fees

The Belize Dollar is permanently pegged to the US Dollar at a rate of 2 BZD to 1 USD. While this official rate governs formal transactions, the Central Bank of Belize issued instructions in May 2023 for financial institutions to accept US cash at the precise 2:1 rate.

Beyond the exchange rate, transaction fees can be applied by banks or exchange bureaus for their services. These may include explicit service charges or a slight margin embedded within the exchange rate offered. Some traditional banks might incorporate an exchange rate margin ranging from 4% to 7%. To ensure transparency, inquire about all potential fees and commissions before initiating any currency exchange. Always confirm the final US Dollar amount you will receive to avoid discrepancies.