Don’t spend more than you need to when transferring money to Barbados.
This guide explains how to get the most cost-effective money transfers and lets you compare your options.
Compare money transfer services for Barbados
You can use the table below to check different options.
Enter how much you want to send, then the table will do the math. You’ll be able to see how much it’ll cost in fees and exchange rates to use different services.
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
How to send money to Barbados in a few simple steps
Choose your service. Sometimes this can just be the cheapest, but other times you may want to look for cash pick-up options, faster transfers or higher limits.
Create an account. This usually involves providing some form of identification, like your driver’s license or passport, and proof of address.
Pick your payment method. The usual options are bank account, credit card or debit card.
Choose your delivery method. Do you want to send money directly to a bank account in Barbados? Do you want to arrange a cash pick-up in Bridgetown?
Enter your transaction details. These are who you’re sending the money to, how much you’re sending and similar information.
Review your transfer. Make sure the recipient’s details are right, that yours are correct and double-check the fees and exchange rates to make sure everything’s in order.
Send your funds. The money will be deposited into your recipient’s account in Barbados.
Receive email/SMS confirmation. You’ll receive email or SMS confirmation once the transfer is underway. If the recipient is picking up cash in Barbados, they’ll need to present the transfer details at the pick-up point.
How to compare Barbados money transfer services
Work out what’s most important to you, then balance the pros and cons of different options.
Exchange rates. How many Barbadian dollars to each Canadian dollar? Different money transfer services will offer different exchange rates. The Barbadian dollar is pegged to the US dollar and USD is relatively widely accepted in Barbados so it may be possible to save on exchange rates by sending USD instead.
Fees. There will often be flat fees for a transfer. Compare these before sending and combine them with the exchange rates and any other costs to find the cheapest way to send money to Barbados.
Pick-up methods. Does the recipient need cash? Do they want it in their bank account? Would they prefer to have it deposited in a mobile money app? Compare your options to find a pick-up method that suits.
Transfer methods. You can send money online, but if you’d rather do it over the phone, or by paying with cash at a MoneyGram location, that may also be an option.
Transfer times. If your money needs to arrive fast, it could be worth looking for the quickest option. Cash pick-up is typically the fastest way to send, but this convenience will often come with higher fees.
Limits. Different Barbados money transfer services have different limits. There will often be lower limits as well as upper limits, so if you need to send a very big or very small amount of money, your options will be more limited.
Customer service. Make sure you know how to get in touch with the service if something goes wrong, especially if you know you’ll be using the service regularly.
Exchange rates explained
An exchange rate is how much 2 currencies are worth compared to each other. Sending money at different times can make a significant difference in how much arrives, because exchange rates change regularly.
Generally, you’ll get better value for money if the currency being sent is strong relative to the currency being received, at the time you’re sending it.
The Bajan dollar, or Barbadian dollar, is pegged to the US dollar at a rate of 2:1. This means it’s worth paying attention to CAD/USD exchange rate when sending money to Barbados.
Below you can see a real-time update of the mid-market (average) rate for Canadian dollars (CAD) to Barbadian dollars (BBD).
Not all banks and money transfer services will offer Barbadian dollars, so options may be limited.
Bank transfer. Some banks will transfer money to Barbados through a wire transfer, but be careful as the rates and fees will sometimes be among the highest of all options.
PayPal. PayPal offers money transfers and can be a convenient option, but it’s worth comparing it against other options since its fees can add up.
Specialist money transfer service. These services will typically be among the most cost-effective and convenient options available, depending on the circumstances.
Cash pick-up services. Cash pick-up money transfers are often the speediest way of sending money, but this convenience will typically come at premium prices.
Let’s crunch the numbers: Two Barbados money transfers compared
Let’s look at how two example money transfer services compare if you’re sending $1,000 to Barbados.
Money transfer service 1
Money transfer service 2
1 CAD = 1.369 BBD
1 CAD = 1.498
Total Barbadian dollars received
In this example you would be paying a lot more for a slightly faster transfer and cash pick-up. Your recipient would also receive less money due to the exchange rate.
How long will it take to send money to Barbados?
How long it takes to send money to Barbados depends primarily on how you pay for your transfer and how it’s sent. Bank transfers are typically the slowest part of the procedure, so by avoiding them you’ll often find faster transfers. For example, if you pay with card or cash for the recipient to make a cash pick-up it will often be quicker than paying with a bank transfer to get funds sent straight to the recipient’s bank account.
Emergency cash transfer
Sometimes you might need to send cash to Barbados fast, such as if a family member had their wallet stolen while holidaying there.
If you need to get funds there in a hurry, you can compare options to find the most efficient way of getting funds from A to B.
But even if speed is the number one priority, there’s still room to find more cost-effective options.
How to send money to Barbados without a bank account
If you don’t have a bank account, you can still use cash transfer services to get the money to its destination.
Similarly, a recipient can get the money with a cash transfer if they don’t have a bank account.
These cash transfer services are widely available around the world and although they’ll typically not be the cheapest available service they can be fast, convenient and usable without bank accounts.
You may want to consider looking for a slower transfer if it’s not an emergency. Same-day or overnight money transfers will often be available and can be almost as fast but much cheaper. The trick is to make sure you deposit your money early enough in the day that it can be processed on the same day and to remember that transfers will often get delayed over weekends or public holidays.
Tips for picking up cash in Barbados
As a tourist-friendly destination, there are plenty of ATMs and banks in the more heavily populated parts of Barbados and there are several pick-up points for services such as MoneyGram and Western Union around the islands.
The Government of Canada considers Barbados to be a safe country compared to many other Caribbean nations, but it’s always advisable to be careful when handling large amounts of cash or travelling. Travelers are advised to take normal precautions when visiting the island.
Try to pick up cash in well-populated, well-lit areas during the day and avoid doing it alone where possible.
Cash pick-up locations in Barbados
Ground floor, Speed Bird House Independence Square (inside Going Places Travel) +1 246 430 2550 8:30am to 4:30pm
2 Sun Plaza, Worthing Main Road, Christ Church (inside Going Places Travel) +1 246-621-7270 8am to 5pm
1 Sheraton Mall, Sargeant’s Village, Christ Church (inside Going Places Travel) +1 246-431-2440 9am to 7:30pm
BB11007, Prince Alfred St, Bridgetown +1 246-537-1690 8am to 3pm
2 CWTS Complex, Lower Estate, St. George (inside Going Places Travel) +1 246-431-2400 8:30am to 4:30pm
1st Floor, Bernmar Centre, Sunset Boulevard, Sunset Crest, St. James (inside Going Places Travel) +1 246-419-8350 8am to 4:30pm
Frequently asked questions
Yes. US dollars are widely accepted in Barbados, but it will typically be more cost-effective to spend with Barbadian dollars in the country.
The exchange rates will also be similar, as the Barbadian dollar is pegged to the US dollar 2:1.
Yes. Some companies allow you to transfer money by paying with credit card.
It can vary, but typically you’ll need to provide:
The recipient’s full name and address
Your name and contact details
Proof of identity and address
Providers may also ask additional questions such as your reason for transferring the money.
Andrew Munro is the global cryptocurrency editor at Finder. After previously writing about insurance and other areas, he now covers the latest developments in digital assets and blockchain and works on Finder's comprehensive range of guides to help people understand cryptocurrency.
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