currency exchange

[lknak80]

This is actually for both cayman and cozumel. Should we exchange our currency or do the shops and restaurants take the US $. Also, is it recommended to use or not use credit cards at the ports??

[bookbabe]

US dollars are widely accepted in Cayman, as are US (and Canadian) credit cards. I've used my credit cards all over the island, and never had a problem.

 

Keep in mind that there is an exchange rate of $1 CI = $1.25 US. Some prices will be in US dollars, others will be in Cayman. If the price is in Cayman, just ask the clerk or waitress to convert it to US dollars...they can all do that very easily.

[98Charlie]

You may want to check with your credit card company's fee policy. Many cc companies have a fee each time you use your card for a foreign transaction. Small purchases are usually best done with cash.

 

Charlie

[LostAgain]

In Cozumel, cash is king and US $ are widely accepted.

[bandit68]

We rented a car in Cozumel, we paid cash but they required a CC in case of damage. The company seemed reputable. This was the only time we took out our card while on vacation. We returned the vehicle in good order and they returned our CC imprint. Two months later our credit card was charged $428 from some unknown company in mexico. We disputed the charge and the credit card company did not make us pay. Use cash if you can, IMO it is not worth the hassle.

[tak81288]

I also recommend using cash, especially if you purchase anything from street vendors and are making small transactions. It also helps to have smaller bills with you for taxi rides, tips, small purchases...etc...You don't want to hand a street vendor a $100 bill for a $5.00 t-shirt because they may not make change for that.

 

I also recommend calling the bank of your credit card company before you leave and let them know you will be traveling out of the country. In the event that you decide or need to use your credit card, you don't want the transaction to get denied due to suspicious activity.

 

I know my bank would deny the charges without speaking to me first if my card was being used for something out of the "norm". However, some banks may let international transactions go thru, but it won't hurt to give them a quick call and let them know just in case.

 

 

Have a good trip!

[Lsimon]

We've never had an issue with US Dollars not being accepted at any Caribbean port in our experience including Mexican, Panama, Costa Rican, and Columbia ports of call.

 

I must admit at times I have no idea if we're getting a great exchange rate or not. There are only two issues I can think of: First is that you might get change in local currency, depending on the port, so use as small bills as possible. Second, if you are using a credit card there will be a foreign exchange fee if your credit card has one - so check with your credit card first if you don't know what this is. Some have no fee including certain cards from Capital One. Typically this is just 3% maximum so if you're not buying anything real expensive it doesn't add up to too much.

 

For any cruisers visiting other areas of the world: This has been a very different experience in Europe where one needs to use local currency except for a few smaller non-EU ports, like Croatia, where Euros and some other currencies were accepted.

[taillon]

We were just at both of those ports and everyone takes dollars. We did use our credit card in Grand Cayman but there were no extra charges to do so.

[jaga04]

Same thing for us about easily using US money and credit cards in GC.

 

Extra charges for using credit cards are imposed by the bank/credit card company, not the country/island/store visited. One of ours charges for all foreign transactions.

[suewill444]

I also made the mistake of using my credit card in mexico.

I used it at one place only...and 2 weeks later there was a charge on my card for 2 airplane tickets on aero mexico...which definitely were not mine.

My bank did a chargeback on the transaction and I didn't have to pay anything, but it was really frightening that i used my card only once, and the number was stolen that easily.

When i travel, i try to use only cash...and when i book my shore excursions, i book everything online. I have used the same company for a few cruises now, and everything has been spot on.

if you can, use cash when in a foreign country, but book any tours in advance. I strongely recommend not giving your card to small companies for their tours, as you just never know who is on the other end of the fax line. It seems when you give your card information to employees in foreign countries, that is when you become an easy target.

[icequeen]

You may want to check out this article on issues that have recently come up regarding using cash in Mexico. Just an FYI so you will be aware and not run into any problems.

 

http://www.cruisecritic.com/news/news.cfm?ID=4193