Banking & Currency

Banking
Bermuda does not have any American banks; however, the Bermuda dollar and the US dollar are used interchangeably on the island.  Local ATMs accept most major US ATM cards, and credit and debit cards are widely accepted by retail, restaurant and service firms. The two main banks on the island are the Bank of Bermuda and Butterfield Bank. These banks should be able to assist you with any banking queries you may have. Please visit their websites at

Bank of Bermuda: www.bankofbermuda.bm

Butterfield Bank: www.butterfieldbank.com

Currency
Bermuda currency began with Hogge money, so named because of the island’s wild hogs, descended from pigs abandoned to swim ashore by Spanish and Portuguese ships in the 16th century.  Bermuda’s penny still featured a pig, and is known as a Hog(ge) penny. One Bermuda dollar equals one US dollar.  American money can be used interchangeably at shops, restaurants, grocery stores, and across the board island wide (although you will usually be given change in Bermuda dollars).