Currency question

[Orleanscruiser]

Does anyone knows if Canadian currency is accepted in Bermuda

[Charles4515]

Does anyone knows if Canadian currency is accepted in Bermuda

 

 

I doubt it. They accept US dollars because the Bermuda dollar is pegged to the US dollar.

[Orleanscruiser]

Does anyone knows if Canadian currency is accepted in Bermuda

 

Thanks I found the answer on this site

http://www.bermuda-online.org/money.htm

 

Bermuda's domestic and non-exportable dollar is at par with USA

Visitors from all countries should always bring only US currency notes and coins, usable island-wide

Bermuda's official currency in the Bermuda Dollar which is fixed to the US Dollar. Because of the latter, the US dollar is accepted everywhere at par. British Pounds sterling, Canadian dollars, Euros and other currencies should not be brought as they cannot be used. Most major international credit cards will be accepted from visitors, but overseas debit cards, even in the USA, cannot be used in Bermuda. Most if not all Bermuda places to stay, stores and restaurants will no longer accept traveler's checks, so they should not be bought for your Bermuda visit.

The local-only Bermuda Dollar is not exportable. It is not used by traders world-wide. It is not cashable or exchangeable by any foreign banks. It is used only by local citizens and residents - not by international companies based in Bermuda (all of which use US dollars). Visitors to Bermuda, irrespective of from where they fly to get here, cannot buy or sell Bermuda dollars abroad. They should bring US dollars - freely accepted and officially at par everywhere. The Bermuda dollar is pegged to and is based on the international value of the US dollar. Why? Because Bermuda's total land area is only 21.75 square miles or 35 square kilometers. The nearest country is the USA (North Carolina), 600 miles to the west. 85% of Bermuda's imports, visitors commerce and international business operations derive come from the USA.

When visitors wish to use an ATM card in Bermuda to get money from their non-local bank before they go home, they receive Bermuda dollars only. they cannot use these in any other country except Bermuda. If you, as a visitor, purchase any goods in cash in US dollars and get change from shops or restaurants in Bermuda money, make a point of asking for US dollars instead. Explain that you have no choice as you will be leaving soon and can't use that Bermuda money beyond Bermuda. Most local retailers will have US dollars and US change and will gladly do this for you.

 

If you work in Bermuda, are paid in Bermuda dollars and wish to send money back to your home country, go to the Bermuda bank where you are a customer to buy foreign exchange at the prevailing rate and arrange for a wire transfer, safer and far quicker than by postal mail. You can do this online

Edited September 27, 2015 by Orleanscruiser