Money

Currency

The currency of Bermuda is the Bermuda dollar. There are 100 cents to the dollar. The Bermuda dollar is pegged to the US dollar on a 1-to-1 basis.

Both currencies are equally acceptable at all establishments. The US dollar is therefore the currency of choice since any remaining cash is exchangeable almost anywhere in the world; a situation which is not true for the Bermuda dollar.

Ensure you change all Bermuda currency, other than that required for novelty purposes, into US dollars before you leave Bermuda. There are no currency restrictions in force when leaving Bermuda.

When making purchases, change may be given in a combination of US and Bermudian currency.

Notes

Notes come in denominations of 2, 5, 10, 20, 50, and 100 Bermuda dollars. A set of newly designed notes was issued in March 2009 to mark the island’s 400th anniversary.

Value
Predominant Colour
Front Image
Reverse Image
$2TurquoiseBluebirdThe Dockyard Clocktower (Clocktower Mall) and the Statue of Neptune (at the National Museum of Bermuda)
$5PinkBlue MarlinHorseshoe Bay and Somerset Bridge
$10PurpleBlue AngelfishThe Deliverance and Commissioner’s House (National Museum of Bermuda)
$20GreenWhistling FrogGibbs Hill Lighthouse and St Mark’s Church
$50YellowLongtailSt Peter's Church
$100RedRed CardinalHouse of Assembly

The redesign was the first since the Bermuda dollar was first issued in 1970. Unlike the previous notes, the designs are vertically orientated, not horizontally like the previous design and currencies such as the dollar, pound, and euro.

Controversially, the main images on the front of the new notes are those of local fauna and not of the Queen. Her image was significantly reduced in size and moved to a less prominent position at front left corner of each note.

The first issue also contained a significant error. The image of the longtail on the $50 note was that of a species not found in Bermuda. After complaints from the likes of David Wingate of the Bermuda Audubon Society, a new note with an image of the native species was issued in August 2012. The erroneous note could well become a valuable collector’s item in the future.

The $20 and $100 notes also received some criticism for featuring the whistling tree frog and the red cardinal, both introduced to the island by man. Bermuda’s national bird, the cahow, was overlooked.

The new notes feature important anti-counterfeiting features including a watermark of a hibiscus flower, an Optiks thread with a map of Bermuda and an image of a tuna, and a latent image of the note value. Optiks is anti-counterfeit technology devised by banknote printers De La Rue. The wide security thread is see-through, exposing the imagery on both sides of the note.

The old banknotes ceased to be legal tender on January 1 2014.

Coins

There are 1, 5, 10 and 25 cent coins, and also a 1 dollar coin.

Value
Front Image
Reverse Image
1 centQueen Elizabeth IIWild Hog
5 centsQueen Elizabeth IIAngelfish
10 centsQueen Elizabeth IIEaster Lilies
25 centsQueen Elizabeth IILongtail
1 dollarQueen Elizabeth IIBermuda Fitted Dinghy

Bermuda Dollar Exchange Rate

The Bermuda dollar exchange rate is fixed at a rate of 1 BMD to 1 USD, very convenient for the island’s US visitors.

The exchange rate with currencies such as the euro, pound, and Canadian dollar fluctuates from day to day.

Current exchange rates for the Bermuda dollar with popular currencies are:

  • Canada – 1 Canadian dollar (CAD) = 0.8899 BMD
  • Eurozone – 1 euro (EUR) = 1.2822 BMD
  • UK – 1 British pound (GBP) = 1.6106 BMD
  • USA – 1 US dollar (USD) = 1.0000 BMD

These are live Bermuda dollar exchange rates. They were last updated on October 17, 2014 10:07 am.

ATMs

There are four locally licenced banks in Bermuda. Three of them (HSBC, Butterfield, and Clarien) operate retail banking divisions with a network of ATMs.

HSBC Bermuda ATMs

HSBC Bermuda has ATMs at various locations throughout Bermuda:

ATM Location
Parish
Town
Address
Lindo's MarketDevonshire4 Watlington Road East
Crawl Hill Esso TigermarketHamilton122 North Shore Road
Rosewood Tucker's PointHamilton60 Tucker's Point Drive
King Edward VII Memorial HospitalPaget7 Point Finger Road
Rural Hill Plaza (Ice Queen)Paget130 South Road
Church Street BranchPembrokeHamilton64 Church Street
Compass Point Express Banking CentrePembrokeHamilton9 Bermudiana Road
Harbourview CentrePembrokeHamilton37 Front Street
SupermartPembrokeHamilton125 Front Street
Royal Naval DockyardSandysCooperage Building, 4 Maritime Lane
Somerset BranchSandys31 Mangrove Bay Road
Harrington HundredsSmith's99 South Road
Port Royal Esso ServiceSouthampton31 Middle Road
St George's BranchSt George'sSt George4 King's Square
LF Wade International AirportSt George's3 Cahow Way
Esso Warwick TigermarketWarwick66 Middle Road
Lindo's Family FoodsWarwick128 Middle Road
RUBiS Warwick Gas StationWarwick72 South Road

In 2013 HSBC ATMs were removed from the Washington Mall, Esso City Tigermarket, and Collector’s Hill Esso Tigermarket. In 2011 ATMs were removed from Masters, Gorham’s, and the People’s Pharmacy.

Butterfield ATMs

ATMs operated by Butterfield can be found at the following locations:

ATM Location
Parish
Town
Address
RUBiS Causeway Service Station (adjacent to Grotto Bay)Hamilton15 Blue Hole Hill
Shelly Bay MarketPlaceHamilton110 North Shore Road
King Edward VII Memorial HospitalPaget7 Point Finger Road
Modern MartPaget104 South Road
Rural Hill Plaza (Ice Queen)Paget130 South Road
BIU EssoPembrokeHamilton22 Dundonald Street
Brown & CoPembrokeHamilton35 Front Street
Clarendon PharmacyPembrokeHamilton31 Victoria Street
Fairmont Hamilton PrincessPembrokeHamilton76 Pitts Bay Road
Hamilton MarketPlacePembrokeHamilton42 Church Street
Head OfficePembrokeHamilton65 Front Street
Reid Street Banking CentrePembrokeHamiltonReid Street
Rosebank Banking CentrePembrokeHamiltonBermudiana Road
Washington MallPembrokeHamiltonReid Street
Gorham'sPembroke62 St John's Road
RUBiS East Broadway Service StationPembrokeEast Broadway
Waterfront Banking CentrePembroke90 Pitts Bay Road
Clocktower MallSandysRoyal Naval Dockyard
Maxi MartSandys42 Middle Road
Somerset Banking CentreSandys45 Mangrove Bay Road
Somerset MarketPlaceSandys48 Somerset Road
Collector's Hill ApothecarySmith's2 South Road
Fairmont SouthamptonSouthampton101 South Road
Heron Bay MarketPlaceSouthampton227 Middle Road
St George's Banking CentreSt George'sSt George1 King's Square
LF Wade International AirportSt George's3 Cahow Way

In 2011 Butterfield removed ATMs from the Bermuda College, Windsor Place in Hamilton, and RUBiS Terceira’s North Shore Service Station.

Clarien Bank ATMs

Clarien Bank (formerly Capital G) is the island’s newest bank. It has a small network of ATMs:

ATM Location
Parish
Town
Address
Clarien - Paget BranchPaget161 South Road
Clarien - Head OfficePembrokeHamilton19 Reid Street
Gibbons CompanyPembrokeHamilton21 Reid Street
RUBiS Raynor’s Service StationSouthampton217 Middle Road

Credit Cards

Major credit cards (Visa, MasterCard, and American Express) are accepted by nearly all shops, restaurants, and hotels.

Money Transfers

The Bermuda Financial Network is an official agent for Western Union. The company offers money transfers to and from more than 200 countries. They have branches in Hamilton, St George, and Sandys.

Hog Money

When the first colonists arrived on the island there was no currency so they used tobacco, gold, and silver as a means of exchange. Hog money (also spelt hogge money) was Bermuda’s first currency and was sent over from England in 1616 with the second Governor, Daniel Tucker. They were crudely made with an image of a sailing ship on one side and a hog on the other.

Unlike most coins of the time, they were made of base metal and had little intrinsic value. Despite their introduction, the colonists continued to use tobacco and precious metals to barter, and they were soon discontinued.

Today the coins are extremely rare. A few of those still in existence can be seen are held at Commissioner’s House at the National Museum of Bermuda.

Comments and Additional Information

  1. Vicky says

    Are there any US banks in Bermuda? I’m wondering whether I can use their ATMs or will I need to use the local banks?

    • Editor says

      There are no American banks in Bermuda. The only ATMs are those provided by the local banks (Butterfield, HSBC Bermuda, and Clarien). Your US cards should work fine in the local ATMs. Most ATMs will dispense Bermuda dollars.

      It is always a good idea to notify your bank of your intention to travel to Bermuda. Banking systems are a bit over cautious sometimes and may freeze an account when foreign transactions take place.

  2. VIP says

    ATMs give Bermuda dollars so make sure you only withdraw what you need.

  3. Tom says

    Bermuda tied its currency to the dollar in 1972 as most of its trade was with the US.

  4. Alvin says

    Always ask for change in US and make sure you change and Bermudian money before returning home. It’s impossible to exchange once back in the States.

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