Money - Where to Exchange/How to Keep Safe?

[GraceV]

We're travelling from the U.S. and wondering where to exchange our money.

U.S. exchange rates are abysmal. They charge us through the roof to convert to foreign currency here. Is there someplace in TAB airport where we can exchange money? We'll be arriving quite late at night (11 pm). Or is it better to go to a bank?

We'll be arriving in Castara, is there somewhere there to exchange for a fair rate?

Where is the best place to store money in Tobago? Will it be safe in our hotel rooms, or should we carry it on us in a money belt?

thank you!

[Steve Wooler]

Hi Grace

Another common question - and one where opinions differ. Just use the 'Search' facility (above right) and type in "exchange" and you will find lots of topics in our forum.

Personally, I try to avoid using cash at all costs - although you need to be aware that payment by cards is not as widespread as you will expect at home and if you intend using a card, always ensure that you have some form of identification (photo driver licence or passport) with you to prove you are the card owner. Anyway, my advice would be to get US$100 converted to TTD before you leave, then use a MasterCard/VISA card to draw cash from ATMs on Tobago, as and when you need it. In fairness, this arrangement is only financially beneficial when your card company doesn't make high charges when it is used for drawing cash and/or if you have a zero balance and can pay off before the due date so that you don't pay the exhorbitant interest rates on the cash.

There is no bank in Castara - but there is an ATM machine.

Most properties have a security safe suitable for cash. So, best to check with your accommodation provider.

[GraceV]

an update on this - the best exchange rate is to get money from the ATM at the POS airport.

Most of the ATMs on Tobago are not dependable, except the ones in Scarborough. If you're going through Miami, they have a flat exchange rate of $7 USD. If you're going through Houston, you'll be ripped off to the extent of getting a mere 50% of the value of your cash.

My personal experience was that I had no problems with safety of cash or valuables. I never even used my luggage locks. But I stayed in Castara and Speyside, which are smaller and safer areas.

Just my opinion, but the horror stories about danger and crime in Tobago are exaggerated. If you're a frequent traveler who doesn't usually have problems and knows how to use common sense, you'll likely have a wonderful and tranquil visit.