If you are dreaming of an oceanfront view for your next Caribbean beach getaway, plan a trip to the island of Bermuda. Bermuda’s pink sand beaches, warm turquoise waters and crystal caves will make your vacation dreams come true all year round. However, before you head out to explore Bermuda’s 181 islands, here are a few financial things to keep in mind.
Bermuda Accepts the US Dollar
Although the Bermudian Dollar is the official currency of Bermuda, there is no need to exchange your US Dollars once you arrive on the island. Since the Bermudian Dollar is on par with the US Dollar, you can use both currencies interchangeably. Other currencies, including Euros, British Pounds, and the Canadian Dollar, are not accepted.
Although there are plenty of ATMs in Bermuda, ATMs only dispense Bermudian Dollars. You can find ATMs at the airport, banks, gas stations, markets, drug stores and more. ATMs generally charge a 3% fee per transaction.
Tipping and Taxes in Bermuda
When you’re planning a trip to Bermuda, keep in mind that hotels charge a 9.75% government tax. Most hotels also add a 10% service charge for tipping. Always check your bill to avoid over-tipping, unless the service was just that good!
The general rule of thumb for tipping in Bermuda is between 10-15%. Taxi drivers expect to get a 15% tip and restaurants charge a 15% service fee. Gas station attendants generally expect less than $5 USD or $5 BMD.
Since these fees can quickly add up, account for these costs when planning out your budget.
No Car Rentals
Did you know that you can’t rent a car in Bermuda?
Instead, rent a scooter, moped or pedal bike. Before you take your motorized vehicle out for a spin, make sure you know the kind of fuel that you’ll need. Depending on the engine, you may have to buy “mixed” fuel which is a mixture of gasoline and oil or unleaded gasoline.
For more budget tips and information on how much a trip to Bermuda costs, check out the 3-day Bermuda spending budget breakdown.
Have any financial advice on traveling in Bermuda? Share with us in the comments below!