Jamaica's official currency is the Jamaican Dollar (JMD). The value of the Jamaican Dollar fluctuates daily based on foreign exchange market conditions. Visitors can easily check the current exchange rate to convert US Dollars to Jamaican Dollars or other major currencies.
Cambios: These are licensed and authorized foreign exchange dealers found throughout the island. They offer competitive exchange rates and are a convenient option for currency conversion.
Widely available in urban areas and major tourist destinations, ATMs provide an easy way to withdraw cash in Jamaican Dollars. Ensure your card is enabled for international withdrawals.
Credit and Debit Cards: Major credit and debit cards are accepted in hotels, restaurants, and stores. However, it is advisable to carry some cash for smaller vendors and rural areas where card acceptance might be limited.
Bank of Jamaica: The central bank of Jamaica, responsible for monetary policy and financial stability.
Bank of Nova Scotia Jamaica Ltd. (Scotiabank): Offers a wide range of banking services, including foreign exchange.
National Commercial Bank Jamaica (NCB): One of the largest commercial banks in Jamaica, providing extensive banking services.
Jamaica National Building Society (JNBS): A major financial institution offering savings accounts, loans, and other banking services.
Traveler's Cheques: While less commonly used nowadays, some banks and cambios may still accept traveler’s cheques.
Tipping: Tipping is customary in Jamaica. A 10-15% tip is generally expected in restaurants, and a small tip is appreciated for services such as taxi rides and hotel staff assistance.
Haggling: In markets and with street vendors, haggling is common and often expected. Always carry small denominations of cash for such transactions.
Understanding the local currency and banking options ensures a smoother and more enjoyable stay in Jamaica.