The United States of America is the official currency in the Virgin Islands. There are automated teller machines (ATMs) available on all three islands, and most establishments accept credit cards and traveler's checks. The most accepted credit cards are Visa and MasterCard. If you need to exchange currency, your only option is to visit an island bank.
These rates can be expensive and often additional charges are added; it's best to exchange money before you arrive. However, visitors shouldn't rely solely on credit cards, as many establishments in the Virgin Islands only accept cash. Often, villas and condominiums or small inns only accept cash or personal checks in advance. You'll also want to arm yourself with cash as you browse the islands' small boutiques and trivia shops, as most don't accept credit cards. Be aware of hidden credit card charges while traveling.
Check with your credit or debit card issuer to see what fees, if any, will be charged for overseas transactions. Recent reform legislation in the U. S. has made it illegal for banks to charge customers extra fees for using their cards abroad. However, many banks have responded by increasing fees in other areas, including fees for customers who use credit and debit cards while out of the country, even if those charges were made in the U.
S. Fees can amount to 3% or more of the purchase price. Check with your bank before you leave to avoid any surprise charges on your statement. Caribbean countries often use their own dollar currencies instead of local cash, although many tourist destinations on the islands accept U. dollars, to encourage U.
travelers to visit it. Major credit cards, such as Visa, Master Card and American Express, also work there, but credit card purchases are almost always made in the local currency, and the conversion rates are managed by the bank issuing the card. In many places, it makes sense to convert at least a few dollars into local cash for tips, small purchases and transportation. To begin with, Puerto Rico and the U. Virgin Islands are both part of the United States; this makes things easier for us residents who travel there, which will eliminate the hassle of currency exchange and the confusion of currency conversions when making a purchase. In Mexico, you must exchange dollars for pesos if you plan to venture beyond the main tourist areas where the United States dollar is commonly accepted; this advice also applies to other large countries, including Jamaica and the Dominican Republic. You can usually find a currency exchange window at Caribbean airports and you can also exchange money at local banks.
Exchange rates vary, but banks generally offer better exchange rates than airport establishments, hotels or retailers. Caribbean ATMs also offer local currency, so that's what you'll get if you try to make a withdrawal at the bank in your home country; in general, you'll pay fees in addition to getting an exchange rate lower than ideal for the amount you withdraw. Keep in mind that even in destinations that accept the U. dollar, you usually receive exchange in local currency. Therefore, carry small denomination bills if you plan to spend US dollars.
You can convert your currencies back into dollars at the airport but with small amounts you lose a lot of value. The official currency is the US dollar (USD) divided into 100 cents. Most credit cards are accepted including American Express, Diners Club, Mastercard and Visa; they are useful for withdrawing cash at ATMs. Currency exchange offices are available to exchange other currencies but it's best to arrive with US dollars as many banks and hotels don't exchange foreign currency. The best way to get US dollars in the British Virgin Islands varies depending on your needs and preferences; similarly, the best way to send US dollars to the British Virgin Islands depends on many factors such as the country you're sending from, the amount of money you're sending, the payment method and the receiving method. With its different currencies banking systems and monetary customs determining the best way to pay in the British Virgin Islands if you're traveling there can be difficult. There are a couple of reasons why you might be interested in learning about the British Virgin Islands currency; in general you can use your debit or credit card to spend money in the British Virgin Islands or ask your bank if they offer a specific multi-currency card that accepts balances in US dollars. Snorkeling and diving are top notch here with beautiful reefs that attract visitors from all over the world (the Virgin Islands Coral Reef Monument is a fantastic place to put on your goggles).
Leave a Comment