Travelers Checks versus Debit Card

[booger]

Scotia charges a fee, but some Debit cards will reimburse it (Schwab does). A plus is they have 4 machines outside (2 dispense USD as well as JMD) so if one is down usually another one is available.

The Royal Bank (?) next to the Cambio is Visa network only

Scotia charges me no fee if I use my BofA card. I checked my statement and did the math as well. My rate over New Years was $91 and some change as well to the US dollar.

[N5_]

Agreed Booger. I've been using my BofA debit card at the Scotia ATM for years now and don't get charged ATM or foreign transaction fees. I take a Capital One credit card to pay for the hotel and any other large expenses as Cap1 does not charge foreign transaction fees on purchases.

[Weathermon & Mi Lady]

I used both over the holidays.

My debit card, which is a Mastercard, only permitted me to withdraw $ 200 US per day at the ScotiaBanc ATMs. That's barely enough to cover the Red Stripe!

I was charged a fee of about 0.8% by Mastercard. My financial institution covered the ATM fee.

I also converted TCs at the Cambio on the road by Bourbon Beach at a slightly lower rate than cash. But I could exchange an unlimited amount at a transaction.

As MrsPurina said, TCs are getting harder to find. My Credit Union no longer carries them and the local bank from which I bought them said that they won't after they run out. But all 3 tellers at this bank said that they had not sold TCs since they had been there (up to 3 years), so maybe the TCs will be there for a while for me.

TCs just give me some piece of mind when staying at accommodations which do not have a safe.

In order to conserve cash, I also used a credit card at the Hi Lo and the exchange rate was 85 to 1 US. The going rate at the time was 90. So, there you go.

[gregandkelly63]

I only take cash. Last time I mentioned it on here I was pretty much told I was an idiot that was waiting to be robbed. So far I have been an idiot 11 times without being robbed.

So I'm not going to even mention it here.

D'OH!

[Lola]

There are 2 types of withdrawal limits:

The ATM's have a transaction maximum, as there is only so much that will fit through the ATM dispensing slot ☺

Your bank also has a daily withdrawal maximum.

You can make multiple ATM withdrawals on the same day, up to your bank's daily limit. The ATM's that charge a fee, will charge for each withdrawal.


Tip: If you want a few smaller JMD bills, withdraw X,900 or XX,900 and you will get a 500 bill and four 100's as part of the withdrawal.

[booger]

I have also seen the ATM's limit the withdrawals at times. Mostly have seen this at the ATM by Hi-Lo where I could only get $15,000J at a time, so I just made two transactions. I also paid two separate fees! ARGH.... One night around New Years this year I could not get money from any ATM, and I hit up everyone known to man including the one down past the AI's which was at the airport I believe. Now that sucked as I had to hit the room and grab a Benjamin as I had a tab to pay at Eddie's. My wife, who I left at Eddie's with a trusted few was like WTF? when I returned. Lesson learned, get your money before you start your party.....

[signmon45]

I also take cash, mainly its hassle free compared to TC's, Debits etc.. I make sure where I stay at has in-room safes and I use the cambio either in Mobay as I'm heading for Negril or in town. I've found that even cambios don't take TC, at least not American Express. I've also noticed alot of businesses don't take Amex type credit cards either because they charge a higher rate to merchants than Visa or MC.

[Ras Walleye]

I have used American Express travelers checks in Jamaica for 15 years. Negril, MoBay, Ochi and never had a problem. I usually but not exclusively use the FX Trader cambios.

[wrtiii]

To answer the original question, I don't think the cambios (except maybe FX Trader) take debit cards.

Cash always works, travelers checks might work but you should expect a lower exchange rate, and anything you can use at an ATM works.

When you call your card provider to tell them you'll be in Jamaica so not to issue security holds on your card, also ask them if they can bump the daily withdrawal limit on your card. I had mine bumped from $300 US to $500 US and it made things easier. The ATM itself may have a transaction limit, but that way you can at least do another transaction.

This may be obvious, but if you're at an ATM getting Jamaican money, remember that if you ask for $300 you'll get $300 JA, which is $3.30 US and will pay the same transaction fee as if you ask for $30,000.

[Limo Mon]

[QUOTE=wrtiii;82529].

Cash always works, travelers checks might work but you should expect a lower exchange rate, and anything you can use at an ATM works.

Years before they would give lower rate for travelers checks, last 3yrs gave me same as cash.