Getting hold of cash in Guatemala is NOT as easy as it could be. ATMs in Guatemala charge high fees, have low withdrawal limits and many times, don’t even work.
Keep reading, and I’ll give you the low-down on withdrawing money from the ATM in Guatemala and tell you the best bank in Guatemala to exchange money.
Getting hold of local money in Guatemala is tricky. The ATMs either don’t work with foreign cards or are all empty. Assuming you can find one that works, Guatemala ATM fees will put a big hole in your budget.
Here are the 3 ATM networks in Guatemala:
- 5B
- Bi (Banco Industrial)
- BAC
This is my photo of the 5B and Bi ATMs in Panajachel:
Photo of the BAC ATM in Antigua, Guatemala:
The Bi ATM never worked for me in 2021 or 2022.
My buddy Paul was recently in Guatemala and tried numerous Bi ATMs in Guatemala City and Antigua, with both Mastercard and Visa debit cards, and never was able to get any cash. In one bank, he went inside and asked and was told to use the 5B instead.
Does the Bi ATM even work with foreign cards?
I used the 5B ATM successfully in 2021. The withdrawal fee was 4 USD. Paul informed me that the cheapest ATM in Guatemala using Mastercard is 69.80 Q, and with Visa is 49.99 Q at the same 5B ATM. That’s 9 USD and 6.47 USD, respectively.
He attempted to take out cash from the BAC ATM in Antigua on 4 separate occasions. The request was rejected. Like always, no reason given.
Avoid high ATM fees in Guatemala: Change money at the bank
I found very few money changers in Guatemala, even in the popular tourist hangouts of San Pedro and Flores, which I find quite frustrating, considering how you still need to pay for a lot of things in cash. And when I did, the exchange rate was 7 Q to the Dollar and Euro. I was told the bank gave a better rate. I remember getting 7.54 Q to the US Dollar back then.
Now, the Bi Bank charges an additional 30 Q (3.88 USD) commission.
But the best option to avoid those pesky ATM fees and bank commissions is to pay wherever possible with your debit or credit card. Many places accept card payments, though some establishments do charge a commission.
Best bank in Guatemala to change money:
Of course, you will need cash at some point, for chicken buses and at the market and here’s the deal.
The Banco Azteca changes US Dollars, Euros and Mexican Pesos at the perfect rate with no commission.
Inside the Banco Azteca in Antigua, Guatemala:
The rate was 7.60 Q on the Dollar and on the same day, the Bi bank was just 7.50 on the Dollar plus the 30 Q commission and would only change dollars. Banco Azteca changes Dollars, Euros and Mexican Pesos.
Elektra is a Mexican retail chain. And looking at their website, they sell motorbikes, beds, electrical appliances and even lawnmowers.
And in some (or many?), you can also find branches of Banco Azteca, a Mexican bank. Just Google ‘Banco Azteca’.
