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Old 29-04-2015, 14:37   #16
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Re: US Dollar Checks Accepted in Bahamas?

Cash is king in many places. Less than 10% of the places near my home (within the US) will accept a personal check any more, I'd be totally amazed if ANYWHERE outside the US would accept one.

If you are concerned about ATM fees, open a Charles Schwab Investors Checking account. It has a brokerage account tied to it but there is no requirement to use it. However the checking account is free checks, free check cards, very competitive exchange rates, and most importantly all ATM fees refunded WORLDWIDE. I have one, don't really use the brokerage side (a few minor investments to try it out but am happier with my prior brokerage house), but am completely satisifed with the checking account.

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Old 29-04-2015, 18:55   #17
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Re: US Dollar Checks Accepted in Bahamas?

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If you are concerned about ATM fees, open a Charles Schwab Investors Checking account. It has a brokerage account tied to it but there is no requirement to use it. However the checking account is free checks, free check cards, very competitive exchange rates, and most importantly all ATM fees refunded WORLDWIDE.
Same thing with my Fidelity Investments account. I use it at any ATM and Fidelity pays all fees.
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Old 29-04-2015, 18:58   #18
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Re: US Dollar Checks Accepted in Bahamas?

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Have yet to meet a vendor that refused cash. Not many ATMs in the Exumas.
We've been doing the Abacos the past few years. ATM's and banks widely available. When we did the Exumas we brought cash with us.
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Old 30-04-2015, 00:10   #19
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Re: US Dollar Checks Accepted in Bahamas?

We have a Capital One card we use anytime outside of U.S. They do exchange rate daily and no charge for it. We then do transfer from bank to C.O. to pay it off to avoid interest. As for checks, never out of country. we found in a lot of areas of in US mostly country areas, cards were not acccepted at all, cash or check. They didn't even ask for id for the checks.
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Old 02-05-2015, 06:47   #20
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Re: US Dollar Checks Accepted in Bahamas?

Don't forget that most credit card companies will charge you a foreign transaction fee on top of your purchase.

If you bring USD is spends on a 1:1 ratio and is accepted everywhere. I've had Bahamians try to give me back Bahamian currency as change which is worthless to me at home so you have to keep an eye on how the money flows.


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Old 02-05-2015, 07:59   #21
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Re: US Dollar Checks Accepted in Bahamas?

We use credit cards for nearly all purchases, not debit cards, and we rarely carry any cash. Be aware, American Express cards are not accepted in most places outside the U.S. Except for hotels, car rentals and fuel.

The reason we don't use debit cards for purchases, is because we've run into problems when the cards get shut down by the bank for unauthorized purchases when some thief steals the number... It messes up our banking for over a week and it's difficult to fix and get a new card when we're thousands of miles away. We only use debit cards at bank atm machines to get cash.

Travelers checks are something we once used in the last century.
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Old 02-05-2015, 08:53   #22
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Re: US Dollar Checks Accepted in Bahamas?

Have a savings account associated with your debit card account. With the savings acct, do not even have a card associated with it. Transfer money as needed by computer into the debit account. You may get kidnapped, and held until all of your money is drained from your debit account. This way, you'll have the bulk of your money in the savings account with no card, and the thieves will not even know the savings acct exists.

When it happens in this part of the world, it's called a 'paseo millonario', or a millionaires ride.
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Old 02-05-2015, 08:56   #23
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Re: US Dollar Checks Accepted in Bahamas?

If you were having a boat built, would you have a built-in, hidden safe?

EDIT: Don't answer if you have a safe now, you don't know who's reading this.
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Old 02-05-2015, 10:16   #24
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Re: US Dollar Checks Accepted in Bahamas?

You probably have more answers now than you ask for. In the Bahamas, ATM's are only going to be available in major towns. Plan to pay for any cash you withdraw. Checks will not be accepted anywhere. In many of the more remote cays, it will be cash only. A credit card will cut down on the amount of cash needed, but will cost you more since a service charge is added almost everywhere in the Bahamas. Leave the checks at home, bring your credit card, but expect to pay more, and make sure you have enough cash to cover the cost when you need food, fuel, etc. and there are no ATM's and none of the local establishments accept credit cards. Oh, and there will be the problem of phone and power outages when even the places that accept credit cards, can't for a day or two. This happens more often than you think. Hope this helps sum it up. Chuck
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Old 02-05-2015, 11:30   #25
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Re: US Dollar Checks Accepted in Bahamas?

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Have stayed in the Bahamas many months over several years. The three main banks are Bank of Bahamas, Royal Bank (Canada) and Scotia Bank (Canada).
Debit cards work fine - but be ready to pay the greedy bank ATM fees. If you have debit card that is from same bank as ATM machine you will pay $3.00 (as of last year). If your debit card does not match the ATM bank it will cost a minimum of $3 + $2 = $5.00
!
Yep, one of the shocks when we came back from our last extended stay was seeing all of the bank fees we were incurring every time we pulled cash out of a Bahamian located bank. Ouch!!
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Old 02-05-2015, 11:46   #26
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Re: US Dollar Checks Accepted in Bahamas?

Beware of using those "investment account" large account type ATM cards. If someone is swiping ATM card numbers & passwords, which is pretty common and easy these days with "skimmers", they're going to have access to a MAJOR ACCOUNT. And those cards are usually debit accounts, not protected from fraud.


Better to take the "big" card into a bank office from time to time and make the withdrawls there, from a cashier.


Or to take some travelers' checks (still free from some sources) and cash them in from time to time, to renew the cash stash.
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Old 02-05-2015, 22:21   #27
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Re: US Dollar Checks Accepted in Bahamas?

Bahamians use cheques often. At least in major population centers. They will only take US checks if you have a relationship with you as US checks take time to clear. For example, paying for your child's school tuition. But, that will change as they are integrated better in the world banking system. I believe that is in process.
Be aware that it is illegal to take Bahamian money out of the country, at least in large sums. You will not be permitted to change back into US dollars unless you show a plane ticket in hand and if they have dollars available. ATMs at
First Caribbean branches in. Nassau sometimes give you a choice of US or Bahamian currency.



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Old 28-05-2015, 06:17   #28
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Re: US Dollar Checks Accepted in Bahamas?

Bahamians take US dollars. Beware credit cards as every transaction will be charged a foreign exchange fee. I didn't use to see that on my credit card use before, but it is now being charged for all foreign accounts such as Skype which is based in Luxemburg.
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Old 28-05-2015, 07:55   #29
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Re: US Dollar Checks Accepted in Bahamas?

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Bahamians take US dollars. Beware credit cards as every transaction will be charged a foreign exchange fee. I didn't use to see that on my credit card use before, but it is now being charged for all foreign accounts such as Skype which is based in Luxemburg.
With all of the credit card hacking the Russian mob is doing right now (and, south Florida is one of their major operating areas), I'm planning on using cash as much as possible on my next cruise down there. Plenty of places to hide it on a boat where it would take someone a week to find it.

Trying to undo identity theft or credit card hacking is tough enough at home, I don't want to be trying to sort that out while on my cruise.
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Old 28-05-2015, 08:35   #30
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Re: US Dollar Checks Accepted in Bahamas?

I think a pre-payed credit card might be a better option than hoarding lots of cash. Limits the damage in case the card details get stolen, but is easier to carry around.
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