Bahamas: Money Matters

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Money Matters

Generally, prices in the Bahamas reflect the exchange rate: they are about the same as in the United States. A hotel can cost anywhere from $75 a night (for cottages and apartments in downtown Nassau and in the Out Islands) to $200 and up (at the ritzier resorts on Paradise Island, Harbour Island, Freeport, and Lucaya), depending on the season. Add at least $35 per person per day for meals. Four-day, three-night and eight-day, seven-night package stays offered by most hotels can cut costs considerably. In the Out Islands, you'll notice that meals and simple goods can be expensive; prices are high due to the remoteness of the islands and the costs of importing.

ATMs

There are ATMs at banks, malls, resorts, and shops throughout the major islands. However, in more remote locations, be sure to take a bit more cash than you think you might need; there are few or no ATMs on some small cays, and on weekends or holidays, those that exist may run out of cash.

ATM Locations

MasterCard/Cirrus (800/424-7787. www.mastercard.com) provides locations in the Bahamas and worldwide. Visa/Plus (800/843-7587. www.visa.com) has information for locations in the United States and international destinations.

Currency & Exchange

The U.S. dollar is on par with the Bahamian dollar and is accepted all over the Bahamas. Bahamian money runs in bills of $1, $5, $10, $20, $50, and $100. The U.S. dollar is the currency of the Turks and Caicos.

In the Bahamas, only U.S. cash will be exchanged freely in hotels, stores, or restaurants, and since the U.S. currency is accepted throughout, there really is no need to change to Bahamian. Also, you won't incur any transaction fees for currency exchange, or worry about getting stuck with unspent Bahamian dollars. Carry small bills when bargaining at straw markets.