do I need to exchange U.S. money to Jamaica money. or can I get around on my credit card?
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do I need to exchange U.S. money to Jamaica money. or can I get around on my credit card?
While more places are accepting credit cards, you will find that most smaller places do not. You will need cash for most bars and restaurants and smaller stores.
Well thats true , but Doctor Quality & Fay Art Gallery and Variety stores accept all major Credit cards and cash:)
All places accept US dollars; you don't necessarily have to exchange to local currency. By doing so, however, you will save a little money as a lot of local places are cheaper using Jamaican dollars. As Rob said, most smaller businesses do not accept credit cards, with Doctor Quality & Fay Art Gallery and Variety stores being an exception.
You could do fine with US$, but you do save a little if you use JA$. I always use JA$ because it is just easier for me.
There are more "exceptions" happening everyday. Dudley from Big Ship Tours now accepts credit cards, and even smaller stores such as L&M next to the No Limit Bar accepts cards. Of course hotels and their bars and restaurants will accept credit cards. But as a general rule, cash is king...
Most places are giving between j$95 and j$100 to us$1 at the moment. If you have a no-fee ATM card, you can get cash at any ATM at the inter-bank rate which is currently j105 to us1.
Most Cambios are currently giving 102 to 1.
I use both $J and $US. My rule of thumb is if the prices are listed in $J pay with $J if listed in $US pay with $US. Thus avoiding any potential exchange issues.
Being from Canada, I have gotten to the point where I don't use any USD at all...unless I take ~$50 worth to get me started until I can get to an ATM or cambio (outside of the airport). I have JMD leftover from my last trip so it'll be JMD all the way for my upcoming trip. If quoted USD at restaurants or for excursions, I ask for the price in JMD. Most times you save money using JMD. True or not, I believe that using JMD is better for their economy and that if most people used it, it would benefit Jamaicans in the long run. Sadly though, it seems that USD is becoming more widely used by tourists all the time. As is the situation with imported foods, Jamaican farmers suffer. I say buy local and use local currency whenever possible, it's just the right thing to do.
Can't agree more Melody. I truly believe using JA is better for their economy. We either bring it home with us or get it from the bank before we go.
Don't forget that a large number of banks charge a service fee on each transaction for using cards internationally.
I don't change Canadian to Us any more no problem exchanging Canadian money at the cambio,s.
I just use my debit card at the Scotiabank. If you have a Scotia account in Canada, they do not charge a direct fee? It might be included in the exchange rate, not sure, although I'm sure the rate would be a little better at the cambio if you exchange cash.
I don't carry a lot of cash and use my credit card for larger amounts, having them charge it in JA$ if possible, as I find the exchange from JA to Canadian on the card is less than in US $$.
BTW you can use Canadian $ at some places now that do not accept Credit Cards. With the dollar nearly at par, at least this summer, this cash was king too. At least for $2,000 JA the $20 Canadian was at par, as long as I left a decent tip.
When I ran out of $$ if I was at my local bar, I just put down a Canadian bill as a deposit, then when I got the JA $$ took it back and paid them and they returned my Canadian $$ or I drank it out over time. Well not always alcohol -- love the cranberry wata.
I even saw someone paying in Euro. If they can get a sale and you don't move on to another place because you don't have the currency, they will take it. Holds true for the artisans too.
CASH will always be king in JA.
If you're at a local bar, make sure you buy a drink for locals, or let them go buy their own bottle (cheaper) and then they buy the mix from the bar. I always buy my drink from the bar .. this way the bar is still making some > profit from me and off the mix from the locals because they wouldn't be able to buy anything otherwise anyway.
I don't drink much anyway lol at least at one time, so the owner of the bar sees the advantage of the way I do this, as I patronage by eating there too sometimes.
By buying a bottle of rum for the locals at $1200, they find there way around with each other. As long as they don't buy Red Bull as a mix lol, I'm ok.
I've even run a tab at a bar that uses credit cards, bought drinks for my local friends and they get a cheaper rate than me arggg, but the establishments knows I give a good tip and for $50 out for the evening with 5 or 6 people having some drinks, at they managed to waive the cover charge after for me too, I'm happy with that and have lots of security to boot.
If I do use my credit card, I always leave the tip in JA $.
Geez you have to do your own hustling in JA too :-)
I should have put a "caveat" on this .. This happens in the "off season." I'm not sure about the busy times at a bar, when they don't have time for all this negotiation and wheeling and dealing -- they are just too busy and maybe don't want others to catch on.
Any other tips for working around the money matter in Negril?
One word of "warning" for non-Americans - if you're using a non-Jamaican credit card at the Hi-Lo (in Negril - don't know about MoBay) it is company policy (we were told) to convert your purchases to USD and charge the credit card in that currency. They will NOT charge your credit card in JA$, so you're effectively paying to convert 2x. Unless you're buying a lot, it really doesn't make a huge difference, but it is annoying none the less. The rate they were using to convert to US was 96:1, so what would have cost about $103 CAD if we'd been charged in JA$ ended up costing $111.69 CAD. Lesson learned, we'll probably just use cash there in the future...
I agree, the credit card is not the way to go anywhere in JA, although I take all the fees into account, when I'm saving in other ways, at least in my mind lol.
For those of us who do not stay in AIs, we've all found our unique way to manage our money.
And, what I said above does not always work. There are many locals who do not drink and they observe what you are doing of course.
I saw one fellow who sat around a place and he really wasn't accepted by the locals too much.
One day, and he was there many times, like we were lool, he asked to beg me for some $ for food. I asked the chef to make him a meal and off he went with it. He was there again several times and never asked for a thing again. Maybe he wanted cash, I don't know, but it's not what he got. Don't know if he ate the meal or sold it?
So, I don't purport to encourage drinking by doing what I do and I don't do it all the time, although if the vibes are right, it sure spruces up the music and ambience.
This can start fast and end fast and never happen again at the same place.
That's what I love about JA -- the freedom to bend the rules a little now and again without going beyond the limit.
And, before I decide to extend my generosity ... I always ask my local friends first if it's the right time and place.
I make sure I take something down to JA, personalized for each of the friends' circle of friends too. This way I'm not constantly prodded about buying things from them. Sorry but I can't buy from everyone as we know.
For the artisan, I took a bag of beads and fishing line to do his work, and some necklaces I found at yard sales, etc and he can take them apart and make different things for the busy season.
A bottle of Appleton for my back up driver.
Pack a lunch at the room for the owner of one of the bars, who doesn't serve food. He loves peanut butter and jam sandwiches and some raw carrots cut up.
I always take a pair of new shoes from a friend here who doesn't like them or wore them once, and wait for the right person to come along .. they may not fit her, but she sure knows someone or may sell them.
I take can openers, lighters or course, used and clean "magic bullets' for juicing (and they are not that heavy.)
I guess I'm getting a little off topic now, but it's all about da money.
Blessed Sunday !!
Good rule of thumb. I have found that some places - shops catering to tourists - will gladly accept J$ although their prices are listed in US$. More savings by using J$. Probably easier for them & will not eat into their profits when having to exchange all those US$. Win-win all around.Quote:
Originally Posted by Ras Walleye
Good advice. The exchange rate they use is also very low. When I realized this is what happens, back to strictly cash - J$. I believe the standard credit card fee for foreign transactions is 3% of the charge. BTW... doesn't matter if it's charged in US$ or J$, you still pay the exchange fee.Quote:
Originally Posted by 2nutz4travel
Thanks for sharing 2nutz. Good news for Americans, but not for us...JMD cash all the way! I assume the same thing happens if dining at restaurants like Ivan's. I may borrow your experience to pass along to others.Quote:
Originally Posted by 2nutz4travel
I only said non-Americans because at least their charges aren't converted further. Having said that, I always prefer to be charged in the "home" currency and let the CC company convert, rate is usually better than what they would use :) We don't pay foreign transaction fees on our card, so that might make it more favourable to be charged in USD??
Melody - Ivan's (and many others) have their menu priced in USD, so in theory, when they charge your CC in USD (which they do), they haven't converted anything.
Good point, would mostly apply to local stores pricing in JMD. I didn't look for that when using my CC at Mega Mart. I'll have to look back on my statements to see if they converted and charged in USD.Quote:
Originally Posted by 2nutz4travel
Mega Mart charges the cc in JA$ and the bank/cc converts