Well hello- my wife and I are heading to Negril for our first wedding anniversary. Is it better to exchange currency in Canada or Jamaica? The exchange is almost 1:1 ( J - CDN) according to live currency exchange.
Thanks
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Well hello- my wife and I are heading to Negril for our first wedding anniversary. Is it better to exchange currency in Canada or Jamaica? The exchange is almost 1:1 ( J - CDN) according to live currency exchange.
Thanks
Jamaican- IMO
The best way to exchange money in terms of exchange rate is still to use an ATM to withdraw money in the local currency, and to make an occasional larger withdrawal rather than a lot of small withdrawals. This seems to be true worldwide. Not surprising, given the overhead involved in handling foreign currency.
If you want to bring cash, the cambios in Negril will give you as good an exchange rate as you are going to find, and almost certainly better than you'll find in Canada, where the bank will likely have to order JA currency for you.
If you convert your Canadian money to USD then bring USD to Jamaica, you'll be paying the fees twice.
Right this minute, according to xe.com, 1 CAD = 98.5716 JMD.
Definitely exchange your Canadian money in Jamaica and also not at the airport here. The airport in Jamaica has one of the worst exchange rates and exchanging in Canada is not a whole lot better.
Cambios or banks in Jamaica are available to exchange at a decent rate.
ATMs are accessible and easy to use also...though check how much your bank charges for withdrawals in foreign countries.
There is NO need to exchange your Canadian dollars to US and then to Jamaican.
You'll see many tourist oriented properties have priced their services and goods in US...all you need to ask is to receive the cheque/bill in Jamaican.
Many services and goods can be paid in Canadian as well...most everyone in the tourist oriented locations are highly aware of both the US and Canadian exchange rates....but, it will still be much easier overall to use Jamaican.
The current exchange rate (today) at the cambios is almost 93J to 1CA. At the banks it's 94J to 1CA.
Thanks to everyone that replied to my post.
I wish everyone happy times����
always pay in Ja, soon come
Don't exchange in Canada. I bring CDN and exchange it here. I pay for everything in J $ except for my taxi to and from the airport and the coffee I take home. Those I pay for in US $ (cost me a small fortune too!).
ATM WILL ALSO COST YOU 500 j OR 5.00 CANADIAN TO WITHDRAW.
I could write a fun short story on my experiences. I am Canadian and it just is brutal with the exchange. I bring a good amount of american and a reserve of Canadian … in case. Above is correctly noted a $5 charge at the ATM, I'm not sure that was not American?? No bother. At any rate, there are not that many ATM's around … and they often will not be able to disperse your required funds. I think I have had success 80% of the time. Bank of Jamaica had to send me to Sav La Mar as the Mastercard and credit was down … could be a day, could be two …Nothing like needing to take an advance and paying interest from that moment on. But I had cash. Personally I don't think I would bother getting Jamaican dollars before going … US is always accepted and converted to Jamaican at point of sale. Canadian dollars need to go to an exchange or hotel lobby often do too to Jamaican. I have seen many tourists have problems with the ATMs. Me too hahaha.
I agree, being Canadian, no point in exchanging to JMD until you get to Jamaica. I checked the exchange with our bank Royal Bank, they actually have to order it in, so you are literally paying them more for the exchange. We have learnt, bring some USD, and the rest Canadian to exchange, or use the ATM there.
US dollar is so bad, think we actually lost lots by switching CAD to USD in Canada, and then to JMD in Jamaica. Sure Jamaicans love US dollar, but J is just the same, cost less for us, which allows us tos give more $$ to them.. at least in my opinion.
You might want to read this thread...Quote:
Originally Posted by lacdeloo
http://negril.com/forum/showthread.p...referrerid=664
Carrie...I'm curious how you ended dealing with Bank of Jamaica...something sounds a little strange as Bank of Jamaica is not a commercial bank and has no ATMs anywhere?Quote:
Originally Posted by Carrie
Just for everyone's reference...off the top of my head, I can think of 12 ATMs around Negril...5 at Scotia Bank, 2 in Sunshine Plaza, 1 at Value Master, 1 at Coral Seas Plaza, 1 at Time Square, 2 at Rutland Point. A few are listed in the Things to Do section of Negril.com.
If anyone can think of any others...please add.
In answer to your question, I wanted to access a larger amount of cash than I could at the ATM; being a mastercard, I was referred to National Bank of Jamaica. They sent me to Sav as their system was down. Could have been bad advice, but I did have success. The Bank of Jamaica in the west end does have an ATM in the bank; it only dispenses Jamaican dollars, but it's there, but subject to business hours. Warm regards.
It depends. If you bank with Scotia in Canada and use Scotia here there is no charge.Quote:
Originally Posted by lacdeloo
Still confused here :) ...do you possibly mean the NCB (National Commercial Bank) at Sunshine plaza?Quote:
Originally Posted by Carrie
NCB is very different from the Bank of Jamaica which has no private customers...essentially they control and print the money here.
As far as the Bank of Jamaica in the West End...again maybe you mean the NCB at Sunshine Plaza.
Just trying to clear it up in case we have someone running around looking for the Bank of Jamaica. :)
I apologize if I used an improper name. I'm sure you are correct, and I do believe that I mean the National Commercial Bank .. It is in that complex for sure. Nothing like doing your banking with a armed man at the door.
I'm sorry for further confusion. Warm regards.
No worries, Carrie. Thanks for clearing it up.
At least they did not have to go all the way to Sav … I'm still unsure if Scotia Bank could have done a mastercard advance.
Okay … so I will out the silly story … it did all start with the need for cash that I just could not pull out of the machines. I have actually been refused a transaction (June and September), as can only withdraw $500 every 24 hours. Canadian exchange meant I could not get $500 US as I was allowed $500 Canadian per transaction. Over my 24 hour allowance. Understand I'm pretty floored… I could not understand the restriction on my account. I'm a little stressed, but I understand the issue. Quick math I'm having a hard time harnessing … stupid stress. I'm thinking that if I took $700 Canadian with the exchange I may get $500 american. This machine is at the downtown Scotiabank. I get declined as the machine is out of american … but can offer me Jamaican dollars. Ok … I am beyond being able to do exchange. American to Canadian, or Canadian to American and what may be allowed to withdraw at this time. I was trying to get close to $500 anything … my guess in Jamaican on exchange got me $180 Canadian.
Footnote … in November I could do $500 american on an ATM withdrawal. I just feel on edge … paper money sure feels secure.
Can I please bore you with one more heads up … we all hear now that we do not have to advise our banks of time out of the country. I did miss a beat on not including my debit card in thailand. Survived.
You need to know … I was very prepared to error on the side of caution. I went to pay my deposit at the hotel upon arrival … all good. I then went to pay for car rental … declined. I had plan for 100 minutes that got eaten up asking "what". Only 15 minutes … to ask they release hold. The moral of the story … I will let them know so that I have recourse. On that note, I'm stepping off my soapbox and looking forward to January. Love, peace, warmth, joy … and let loose. xo
Bring two different cards...Scotia with no fees at Scotia machine...max 30000 j at a time....bring another card for backup...no problem...also...cibc machine beside bk almost always has money...there is a fee...but good for backup....
Perfect...I knew there had to be one or two ATM's I forgot...add to the list...Quote:
Originally Posted by dom
Quote:
Originally Posted by Bnewb
Tabs usually work too...bnewb......
Also a good thing to remember...if you pick local currency...and type in can/ us money...eg. 300...it will spit out 300 j...and if you don't have Scotia....it will charge you 575 j!..so take your time....
dirty..................how you doing...>>come on..,,,man......
remember?
dont be shy'''''''''''''''''''''
If it all does not work for me … I'll be busking and would love the support of fellow north americans. Such great share of information. Truly heartfelt. Best of the holidays and safety and friendship.
I know it's not in Negril, but I always make my first ATM withdrawal at the Airport upon arrival. It's to the left near the sidewalk as you exit the arrivals hall.
It's been very reliable in the past. My Credit Union card does not charge a fee, so I get bank rate and no ATM fee.
In 2008, my son was wanting to take out US currency but I told him to use JA instead. After a little back and forth he reluctantly took JA. One problem....he only asked for $1,500 JA (NOT $15,000). Of course it was my fault for telling him to take JA. :)Quote:
Originally Posted by dom
ATMS and exchange rates can be fun! Decades ago I showed some college students (when Spring Break existed) where the ATM was and they wanted to take out money. The first one took out JA$100. It took a while to explain to him (and the rest) that he just spent about the same amount on the transaction than what he withdrew. (it was about J$25/$30 to US$1 at the time if I remember correctly.)Quote:
Originally Posted by Craig123
The J$1 bill still existed at that time and the Bank of Jamaica hadn't even thought of the J$500 note yet... Now we have the J$5000 note...
Craig - it wasn't your fault - I would blame the educational systems.... (grin)
Heyyyy, wait a minute...I've done that & probably most boardies here...and I know we're all freakin' bright!!! Geeezzz...lol!Quote:
Originally Posted by Rob