Nicaragua’s breathtaking volcanoes, colonial cities, and stunning beaches make it a must-visit destination, where managing money wisely ensures a hassle-free experience. Whether you’re wandering the colorful streets of Granada, surfing in San Juan del Sur, or exploring the volcanic landscapes of Ometepe, this guide provides all the details – what currency to bring, the best ways to get money and currency in Nicaragua (Nicaraguan Córdoba (NIO)), cash safety tips, and important dos and don’ts. With these insights, you’ll navigate Nicaragua’s payment landscape smoothly and avoid unnecessary fees while making the most of your adventure.
How to pay in Nicaragua – cash or card?
In Nicaragua, cash is the most common method of payment, particularly for everyday transactions. The official currency is the Nicaraguan Córdoba (NIO). While digital payment methods are gaining traction, their usage is still limited. Less than 30% Nicaraguans owned a credit card even.
You can use cash for:
Public Transportation: Buses and taxis primarily operate on cash payments.
Local Markets and Street Vendors: Purchases at local markets, street stalls, and small vendors are predominantly cash-based.
Small Businesses: Many small or family-run shops and eateries prefer cash transactions.
Tips and Gratuities: It’s customary to tip in cash for services such as dining, tour guides, and hotel staff.
Rural Areas: In less urbanized regions, electronic payment facilities may be limited, making cash essential.
You can use card for:
Hotels: Major hotels, especially in urban and tourist areas, accept credit and debit cards.
Restaurants and Cafés: Many dining establishments, particularly in cities, facilitate card payments.
Retail Stores: Shopping malls, branded stores, and supermarkets commonly accept cards.
Car Rentals and Travel Agencies: Established agencies typically offer card payment options.
What’s the best currency to take to Nicaragua
Nicaraguan Córdoba (NIO) is typically the best currency to take if you are traveling to Nicaragua. Paying or withdrawing cash in the local currency comes with the least amount of fees, sometimes fee-free too.
While US Dollars are widely accepted, especially in tourist areas, relying solely on them may lead to unfavorable exchange rates or limited acceptance in rural regions. Therefore, it’s advisable to pay in NIO to avoid losing money.
Euros or Pounds are not widely accepted here.
Where to get currency in Nicaragua
There are 3 main ways to get cash in Nicaragua. They are:
ATMs, or
Currency exchange, or
Money transfer & local pick-up
Types of cards to swipe in Nicaragua
Visa and Mastercards are commonly accepted for swiping. You might also find some places that accept Amex and other cards, albeit less frequently.
Types of cards at ATMs in Nicaragua
If you’re withdrawing money in Nicaragua from an ATM, ATMs commonly accept Visa cards. Some of them accept Mastercard, Maestro, Plus, Cirrus cards. So carry a Visa card at least on your travel to Nicaragua.Others like Amex, JCB, UnionPay, Diners, Discover and Rupay cards are generally not accepted.
Should I exchange currency before travelling to Nicaragua
Bringing a small amount of Nicaraguan Córdobas (NIO) before traveling can be helpful for immediate expenses like taxis, tips, and small purchases. However, exchange rates outside Nicaragua are usually poor, and many foreign banks do not stock NIO, making it difficult to obtain in advance.
Withdrawing NIO from ATMs in Nicaragua is the easiest option, as ATMs are widely available in airports, cities, and tourist areas. Most ATMs accept Visa, Mastercard, Cirrus, Plus, and Maestro cards, but check with your bank for international withdrawal fees.
It’s best to exchange money in Nicaragua at banks or authorized exchange bureaus, which offer better rates than airports or hotels. If exchanging money at the airport, do so only for a small amount to cover initial expenses.
Carrying a mix of cash and cards is recommended. USD is widely accepted in Nicaragua, particularly in tourist areas, but it’s best to pay in NIO for better value, as businesses often apply poor exchange rates when pricing in USD. If bringing USD, ensure the bills are in good condition, as damaged or old bills may be rejected.
Where to withdraw money in Nicaragua
You can withdraw money in Nicaragua at leading bank ATMs in the country. The best ATMs for foreigners to use in Nicaragua are those owned by popular banks such as:
BDF,
Banco Avanz,
Ficohsa, and
Bancared.
There are other banks with ATMs that also accept international debit and credit cards.
There are no known Global ATM Alliance member banks or All Points network banks in Nicaragua.
Where to exchange currency in Nicaragua
You can exchange currency in Nicaragua at licensed exchange offices or banks.
Currency Exchange Offices: In Nicaragua, currency exchange offices are commonly referred to as Casas de Cambio. These are widely available in tourist areas, shopping centers, and airports. Notable providers include Global Exchange and Casa de Cambio Lafise.
Banks: Major banks such as Banco de la Producción (BANPRO), Banco Lafise Bancentro, and BAC Credomatic offer currency exchange services. These banks have branches throughout cities, providing reliable services. Operating hours are typically from 8:30 AM to 4:00 PM on weekdays, with some branches open on Saturdays until noon.
You can find good currency exchanges using the ATM Fee Saver app – it will guide you to the nearest currency exchange on the map. The app helps you with forex places in 100+ countries, including Nicaragua.
Avoid Airport Exchanges and no-fee exchange offices: Currency exchange services at airports often have less favorable rates and higher fees. It’s generally better to exchange money in the city for better rates and lower charges.
Is carrying cash in Nicaragua safe?
Carrying money in Nicaragua is not really safe. Petty theft, including pickpocketing and bag-snatching, is common, particularly in crowded areas like markets and public transport. Armed robberies and ATM scams also occur. Carrying large amounts of cash is risky so rely on card payments when possible.
To keep your cash safe:
Carry only small amounts of cash.
Avoid withdrawing money from ATMs at night or in isolated locations.
Keep your wallet in a front pocket or a zippered crossbody bag.
Be discreet when handling cash in public.
Is it better to use debit or credit cards or pay by cash in Nicaragua
Use a card if it is fee-free i.e. your bank does not charge any fees to swipe the card, when the merchant / POS also does not impose any extra charge to use a card, you need to use the insurance of the card, don’t want to block cash of large purchases and card’s swipe fees are lower than withdrawal fees.
Pay by cash by withdrawing cash from ATM or exchanging currency where – fees on ATM withdrawals are lesser than fees on swiping cards, you don’t want to leave any digital footprint of your expenses, it is convenient and easier to conduct transactions.
