If you’re planning a trip to Guatemala, one thing to keep in mind is that cash is still widely used and in some cases, required. While major tourist areas and upscale hotels may accept credit cards, most local markets, small businesses, transportation providers, and rural areas operate on a cash-only basis. To make the most of your experience and avoid unnecessary fees, it’s important to plan ahead for how to access cash. In this post, we’ll cover why cash is crucial in Guatemala, the best ways to get it, and tips for using ATMs with the lowest fees.

Why Cash is Still King in Guatemala

In Guatemala, cash transactions are the norm, particularly outside major cities like Guatemala City or Antigua. Here’s why cash is so essential:

1. Local Markets and Small Vendors: From bustling open-air markets to roadside stands, most vendors don’t accept cards. Cash allows you to shop for handmade goods, fresh produce, and street food with ease.
2. Public Transportation: Tuk-tuks, chicken buses, and local shuttles often require cash payments, and they usually don’t provide change for large bills.
3. Rural Areas: In smaller towns and villages, you’re unlikely to find businesses equipped for card payments.
4. Avoiding Additional Charges: Even businesses that accept credit cards often add a surcharge for processing fees, making cash the more economical option.

Best Ways to Get Cash in Guatemala

1. Bring Some Cash With You

Start your trip with some Guatemalan quetzales (GTQ) in hand. Visit your local bank or currency exchange before your trip to get a small amount of local currency for initial expenses like transportation from the airport. However, exchanging large amounts of money in your home country can be less cost-effective than withdrawing cash in Guatemala.

2. Use ATMs for the Best Exchange Rates

ATMs are widely available in cities and tourist areas, and they generally offer better exchange rates than money changers. However, not all ATMs are created equal, and fees can vary significantly.

3. Get Cash at the Airport (last resort)

Airport cash exchanges are notorious for having poor exchange rates, so use this as a last resort. While it would be best to head to a local ATM, you can exchange money at the airport if there’s a reason you need cash immediately upon arrival or for some reason you won’t be able to access a local ATM.

Tips for Using ATMs in Guatemala

ATMs With the Lowest Fees* 

*as of December 2024 – always check current fees when using ATMs in case they’ve changed

1. Banco Industrial ATMs: These are commonly found throughout Guatemala and tend to have lower fees for cash withdrawals. They are also reliable and frequently restocked.
2. Banco G&T Continental ATMs: Another good option with reasonable fees, and they’re easy to find in major towns and cities.
3. BAC Credomatic ATMs: While their fees are slightly higher than Banco Industrial, they are a reliable choice if other ATMs aren’t available.

ATMs to Avoid

• 5B Network ATMs: These are the most prevalent but they often charge higher withdrawal fees, particularly for foreign cards, and are known to have occasional technical issues.
• Unfamiliar or Independent ATMs: Some smaller ATMs may charge exorbitant fees or lack security features.

How to Minimize Fees

• Withdraw Larger Amounts: Most ATMs charge a flat fee per transaction, so withdrawing the maximum allowed reduces the overall cost per quetzal.
• Use a Debit Card With No Foreign Transaction Fees: Check with your bank to see if your card offers fee-free international withdrawals. Alternatively, consider a travel-focused card like those from Charles Schwab or Capital One.
• Plan Withdrawals Around Bank Hours: ATMs outside banks are typically safer and easier to address issues with if something goes wrong.

Other Options for Getting Cash

• Currency Exchange Offices: These are available in cities and tourist hubs, but their rates are often less favorable than ATMs. Use them only as a backup.
• Traveler’s Checks: Rarely accepted and inconvenient to exchange, traveler’s checks are not a practical option in Guatemala.
• Hotel Front Desks: Some hotels will exchange U.S. dollars for quetzales, but their rates may be higher than ATMs or currency exchange offices.

Safety Tips for Handling Cash in Guatemala

1. Withdraw Cash During the Day: Use ATMs inside banks or malls for added security.
2. Carry Small Bills: Vendors and drivers often struggle to provide change for large bills.
3. Keep Cash in Multiple Places: Distribute your cash among your wallet, backpack, and a secure money belt to minimize risk if you’re pickpocketed.

Final Thoughts

Having cash in Guatemala isn’t just convenient—it’s essential for enjoying everything the country has to offer. By planning ahead and using ATMs strategically, you can minimize fees and focus on exploring Guatemala’s vibrant culture, stunning landscapes, and rich history. Stick to trusted ATMs like Banco Industrial, and you’ll have cash in hand without overspending on fees.

Safe travels!