You should know that in some places, such as restaurants or hotels, they may accept dollars, but they will probably give you a slightly lower exchange rate than a bank. If this is not a problem for you, then you can pay with dollars, but please always ask first, as not all places accept them.
Some Spanish schools may also accept US dollars as payment for your classes, but it is best to always ask, as some now accept credit or debit card payments. However, as with any business in Guatemala, they usually charge a 5% commission for card use.
Where can I exchange my dollars, euros, or other currency in San Pedro La Laguna?
You have two options, and you should choose the one that suits you best, as it depends on your situation. You can see which one is most favorable for you.
• Banks: This is the best option, but you should bear in mind that they only accept US dollars, Canadian dollars, and euros. I don’t know if they accept other currencies, but it’s unlikely. However, you can always ask, as banks tend to change their exchange options.
Note: Your bills must be in good condition; they must not be stained or torn, because they will not be accepted, and this is an inconvenience. You should also know that they only accept 100 and 50 dollar bills.
• Currency exchange agencies: You can usually find these in the lively area of San Pedro or near the boat dock in Panajachel. They have currency exchange signs, and some restaurants may also exchange currency, but you should know that they may give you a lower exchange rate than the bank. However, they accept stained or torn bills, which is a big advantage since they accept bills in any condition. They usually accept any bill, unlike banks, which only accept $100 and $50 bills.
It will depend on your situation, but keep this information in mind so you know what to do when you don’t have quetzals.
How many banks are there in San Pedro La Laguna?
In Guatemala, there are two types of financial institutions called banks and cooperatives where you can withdraw or deposit money using their ATMs.
Now, with this information in mind, there is only one bank and one credit union in San Pedro where you can exchange your dollars and euros. The bank is called Banrural and the credit union is called Colua. You can exchange your currency at both of these places, as mentioned above.
