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Nicaragua Expat Forum

Electronic Banking

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Toño5
3/19/2012 19:10 EST

Are ATMs plentiful and are they safe to use? What are the charges for extracting and converting dollars?

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bushamy13
3/19/2012 20:44 EST

Like many things in Nicaragua, they are plentiful in the larger cities.I believe Granada has 7 or 8 ATMs. Like the states they are starting to appear in stores and gas stations.You will have to check with your bank on the fees since they charge the larger amounts and it depends on which bank's ATM you use. Dollars are accepted everywhere in Nicaragua so it is cheaper to get dollars than cordobas because your bank may charge a currency exchange rate. In checking my statement it appears I'm being charged $2.50 for an ATM withdrawal up to $100 and $5 for over $100. The local Granada ATM does not appear to be charging me anything.
Hope this helps.

Some of my friends use Internet banks that charge nothing for ATM withdrawals but I prefer continuing using my domestic USA account for this purpose. I also have bank accounts here in Nicaragua.

Darrell

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bushamy13
3/19/2012 20:48 EST

I forgot to answer your question on safety. I assume you mean getting mugged while getting the money from the ATM. Not aware of issues but the ATM I use always has a guard in the bank area. Would I go to an ATM in the middle of night when no one is around? Nope but I'm a cautious guy. Certainly as safe as the states in this respect.

Darrell

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calsrf
3/19/2012 20:58 EST

My Bank refunds all my atm charges. Last trip to Nicaragua I was refunded over $70. Get your cords from the atm. Stores short change you on the exchange rate. Last year the rate was 22.5 per and the locals were only giving 22.

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