Exchange rates and saving money

[wrtiii]

Homebrewer, no, I said that when I use the ATM I get the interbank rate and pay an additional flat fee, so as long as I withdraw the daily maximum I do better at an ATM than I would exchanging the same amount of US $ at a cambio. My credit cards charge an international transaction fee and don't state that they exchange at the interbank rate. So I don't use them when I travel foreign except in an emergency.

Oh, and telling your bank not to accept charges outside your travel dates works up to a point, but if someone is trying to run charges against your card your bank will still cancel that number and issue you a new card. This is a PITA that I prefer to avoid.

[SLP]

Papa Georgie - I agree with you completely. When you visit another country why would you expect not to use their currency? When visitors come here (Canada) or the USA, they have to use our dollars. Whether or not the rate is based on the US dollar shouldn't make any difference. Try to use the dollar in, say, England and they would tell you to get it exchanged.

I always use Ja$ when I am there. After a day or so it comes naturally - no problems. Oh, and I rarely convert - the price is the price.

[gregandkelly63]

Always paid in US dollars and always will. 16 trips and have never used a credit card in Jamaica and never will unless it is an emergency.

If I pay little more by paying US dollars, oh well. I can afford it. I take lots of small bills to avoid JA dollars as change. Many Jamaicans tell me they prefer US dollars.

[Accompong]

Always paid in US dollars and always will. 16 trips and have never used a credit card in Jamaica and never will unless it is an emergency.

If I pay little more by paying US dollars, oh well. I can afford it. I take lots of small bills to avoid JA dollars as change. Many Jamaicans tell me they prefer US dollars.

There was a time, many years ago that Jamaicans preferred US dollars because they were unable to get them unless they had a bank account that allowed it. Today, they can get foreign currency just as easily as Jamaican Dollars.

I think the Jamaicans who tell you they "prefer" US dollars do so because you give them more on each transaction. They tell you "$100 US" on a $10,000J transaction and then they exchange it for $12,000 or more.

I think the "Jamaican Experience" extends to learning about the people and culture and the way they live each day and that includes their money. It is not so difficult to use Jamaican Dollars and chat a word of patwa here and there. It makes for a better experience in my opinion. No harm, no fowl if you want to continue they way you do it though.

Peace and Guidance

[Marko]

mi think wi won't be up to $126 till next Spring.....or maybe next Summer.....
you can't go by those online rates here on the ground in Negril......
the rate right now is $122.50US at the Fox Trader Cambio by HiLo.......

Cool Runnings, Marko

[Marblehead]

XE.com rate is 126.50 J to $1 US

I use US $'s, exchange same at Cammbio by the roundabout, and ATM withdrawals. I find a mix offers me the flexibility to pay my bill and show proper respect.