Bermuda is also a place of business and technology. This section of the Bermuda Travel Net provides you with information about taxes, communications, currency, travel documents, duty fees and more.
Bermuda Currency
Prior to July 31, 1972 Bermuda's currency was tied to the British Pound. Legal tender is now the Bermuda Dollar which is pegged to the US dollar on an equal (1 to 1) basis. This means that US currency is accepted at shops, restaurants and hotels at equal (face) value. Other foreign currencies are not accepted but may be exchanged at local banks at rates that are set daily.
US travellers cheques are accepted everywhere.
Credit cards are accepted at virtually every store, restaurant and hotel, and may be used for cash advances (up to $350 a day) at local bank branches. In addition, the Bank of Bermuda Limited provides 19 ATM machines linked to the MasterCard / Cirrus and VISA / Plus system for cash advances. Thirteen of these machines are available 24 hours a day.
Banks
Band of Bermuda Ltd.
Bank of Butterfield Ltd.
Bermuda Commercial Bank, Ltd.
Banking Hours
Bank of Bermuda Ltd.
Monday 9:30 a.m. to 4:00 p.m.
Tuesday thru Thursday 8:30 a.m. to 4:00 p.m.
Friday 8:30 a.m. to 4:30 p.m.
Bank of Butterfield Ltd.
Monday thru Thursday 9:00 a.m. to 3:30 p.m.
Friday 9:00 a.m. to 4:30 p.m.
Saturday 10:00 a.m. to 3:00 p.m.
Bermuda Commercial Bank Ltd.
Monday thru Thursday 9:30 a.m. to 3:00 p.m.
Friday 9:30 a.m. to 4:30 p.m.
Business Hours
9:00 a.m. to 5:00 p.m. except Sundays and holidays. Most stores are open on Saturday.
Public Holidays
1999:
New Years Day: January 1
Good Friday: April 2
Bermuda Day: May 24
Queen's Birthday: June 21
Cup Match Day: July 29
Somers Day: July 30
Labour Day: September 6
Remembrance Day: November 11
Christmas: December 25
Boxing Day: December 26
2000:
New Years Day: January 1
Good Friday: April 21
Bermuda Day: May 24
Queen's Birthday: June 19
Cup Match Day: August 3
Somers Day: August 4
Labour Day: September 4
Remembrance Day: November 11
Christmas: December 25
Boxing Day: December 26
Business Dress
Men wear jacket and tie, Bermuda shorts and knee length socks.
Currency
The Bermuda dollar is on par with U.S. dollar. Traveler's checks are accepted everywhere. Credit cards (i.e., MasterCard, Visa, American Express, Carte Blanche and Diners Club) are accepted at virtually every store, restaurant and hotel, and may be used for cash advances at all local bank branches. In addition, the Bank of Bermuda Ltd. provides ATM machines throughout the island for MasterCard, Visa, Cirrus and Plus cash advances. The Bank of Butterfield Ltd. provides ATM locations also. Personal checks drawn on US banks may be used for purchases at over 200 establishments on this island.
Taxes & Service Charges
Passenger Tax - Air Passengers $20 (those in direct transit and children under 2 years excempt), is included with the airfare and collected in advance along with the ticket. Ship passengers $60 (children under 2 years exempt). Hotel Occupancy Tax - 7.25%. Hotel Service Charge / Gratuity 15%.
