FAQs - Jamaican dollar - US dollar exchange
Do you want to change your Jamaican dollar into US dollar but still have doubts? Find your answers here or else contact us, we are ready to help!
1) What is the exchange rate from Jamaican dollar to US dollar? Exchange rates fluctuate and change daily. You can check the exchange rate for today on this website or in any of our branches. Anyhow, please bear in mind that by ordering online your currency for collection at our branches in Jamaica, you get a 5% off, deducted from the exchange margin. Therefore, it is always more advisable to book online and collect and pay at the airport the day you travel.
2) Will I be charged a commission for changing my Jamaican dollar into US dollar? We currently do not charge any service fees for any of our currency exchange transactions In Jamaica. Remember that placing an online reservation saves you time and money.
3) Do I get the same Jamaican dollar to US dollar exchange rate in this website or in any of your branches? No, the exchange rate we offer on our website is different from the rate we offer in our branches at Jamaica. When you order your money via our website we guarantee you a 5% off the exchange margin of the airport. Remember that by ordering online you will pay your online reservation directly at the airport, the day you travel, benefiting from this 5% off. If the day you collect your order in our branches the exchange rate offered was better than the rate on which you ordered your money, we will apply the most favourable rate for you.
4) Where can I collect the US dollar I ordered online? After placing your online order, you'll be able to collect it and pay for it at any of our branches in Jamaica. Besides getting the best exchange rate for your online exchange (more travel cash for the same price), this service allows you to save time and reduce anxiety, as you will have the currency you need ready for your trip abroad.
5) Why does the Jamaican dollar to US dollar exchange rate seem cheaper and more attractive in the Internet than in exchange businesses, including Global Exchange? The exchange rates you can see on your mobile phone come from Internet currency converters. These rates are for currency wholesalers (foreign exchange transactions for financial and international trade companies), not for the public. Those cheaper rates are for the foreign exchange operations (FX market), not for currency exchange operations cash-to-cash. For this reason, in the companies that offer the service of change you will never find the same change published in the converters but the one that each company has fixed according to the characteristics of their service.
6) What is the difference between foreign exchange and currency exchange? Foreign exchange (Forex or FX, for short) is the market that establishes the value of the currencies in which international transactions will be performed, at a wholesale level. Currency exchange, on the other hand, is the market in which individual currencies are sold in retail on a certain price depending on demand. Currency exchange entails cash transactions, thus adding logistic costs, and therefore their exchange rates are somewhat "worse" than the Forex rates, which only move money between accounts.
7) What is the difference of changing my Jamaican dollar to US dollar with you or at a bank? Banks charge a margin, plus a commission and you have to visit them at least twice: to order the money and to collect it. At Global Exchange you can order online and collect and pay your currency at the airport before you fly, with a 5% off the exchange margin. Therefore, the online price is lower than the one you get when you change in person at the airport (you get more foreign currency for the same amount you pay).
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