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Cayman Islands Currency and Credit Cards |
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The official currency of the Cayman Islands is the Caymanian Dollar (KYD), which has a fixed exchange rate with the U.S. dollar at a rate of $1(USD) to $0.80(KYD). This means that $5(USD) converts to about $4(KYD). U.S. currency is widely accepted throughout the islands. You may receive change in either currency, or even both. When exchanging money, all counters will be fairly stable and banks will not necessarily be able to offer better rates. It is important to note, however, that most of the larger hotels charge a slightly higher fee for their exchange services. Consider exchanging enough money for airport incidentals and transportation to your hotel before leaving home, so you won't have to worry about acceptance of your currency while trying to get settled. Most hotels, restaurants, and shops accept travelers checks and credit cards, but most do not accept personal checks. Establishments in some of the more remote areas of the smaller islands may charge a service fee for processing credit card payments. The safest bet is to take cash if you plan on drifting too far from the major tourist areas. Automatic Teller Machines are the easiest way to get cash while you're away from home. Look at the back of your bank card to see which network you're on, then call or check online for ATM locations at your destination. On the Cayman Islands, Visa, MasterCard, and Cirrus network cards are welcome, and any debit card endorsed by a major credit card is virtually universally accepted. You may also get cash advances on your credit card at an ATM, provided that you've set up the system and have a PIN to use for such applications. There are four ATMs located in the Cayman Islands:
Overall, travelers will find that using credit cards and travelers checks is no problem in the Cayman Islands. Related Articles
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Begin researching the history of the Cayman Islands by checking out this helpful article.
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