## Credit cards
Credit cards are increasingly accepted throughout Guatemalan territory. Still, they are currently mostly accepted in major cities, popular tourist destinations, and high-end hotels, restaurants, and shops. Small businesses may charge a fee (usually 5–7 percent) to cushion the amount that credit card companies charge them. Visa and MasterCard are the most widely accepted credit cards.
## Traveler's Checks and Bank Transfers
Traveler's checks are a safe way to carry money abroad, but in Guatemala you can only exchange them in cities and tourist destinations that have full-service banks. Also, American Express is the most widely accepted type of traveler's check, but even with this, you may still need to present your original purchase receipt.
If you are running low on cash while traveling in Guatemala, you could go to a bank transfer to have money sent. Many businesses and banks in Guatemala are affiliated with Western Union and therefore accept wire transfers without problems. However, the fees for these services are quite high, and you will often get a low exchange rate for your money.
## Taxes and Tips
A 10 percent sales tax is usually included in the price of hotels, restaurants, and stores. The 12 percent hotel tax is usually included in the rates for budget and mid-range hotels, but for luxury hotels it is often added later.
Tipping is optional in small dining rooms. At higher-end restaurants, a 10 percent tip may be automatically added to your bill. Finally, tour guides usually receive a 10 percent tip.
## Cryptocurrencies
According to the data on the coinmap.org website, there are several sites where you can make payments with BTC, most of them located in the capital, Guatemala. Although there are others in the city of Quetzaltenango, in the northwest of the country, and in the department of Escuintla. In this way, cryptocurrencies are accepted as a payment method in various stores located in these locations.
On the other hand, in the hotel sector, payments with bitcoins are accepted in at least four hotel networks. Villa Orotava, in Antigua Guatemala; Riviera de Atitlán, in Atitlán; and the Villas Vacacionales and Villas Los Cabos hotels, in Monterrico, accept payments with cryptocurrencies.
However, you need to know that this currency, as new as technological as it is, it does not have the back up of the authorities here in Guatemala nor the BANGUAT.
](https://s3.us-south.cloud-object-storage.appdomain.cloud/bucket-travelisimo/pexels_mikhail_nilov_6969654_741c7a55f6 "About Guatemala - Chapter 9 - Financial Information")
5 min reading time
Joed Osorio
Tue May 17 2022
5 min reading time
Tue May 17 2022
About Guatemala - Chapter 9 - Financial Information
About the Quetzal
The Banco de Guatemala (BANGUAT) is the economic body responsible for issuing currency. Currently, coins of 1, 5, 10, 25 and 50 cents of quetzal and 1 quetzal are in circulation. As regards paper money, 1, 5, 10, 20, 50, 100 and 200 quetzals are circulating. It is important for European tourists to know that Euros are accepted in very few places and their exchange rate is very low.
As for ATMs, these are widely available throughout much of the Guatemalan territory and are easily accessible for international travelers. ATMs usually charge a small fee for foreign credit and debit cards. Also, it's a good idea to notify your bank beforehand and let them know about your travel plans; Since if the bank does not know that you are outside the country and verifies a withdrawal of money abroad, they could proceed to freeze your account.
Credit cards
Credit cards are increasingly accepted throughout Guatemalan territory. Still, they are currently mostly accepted in major cities, popular tourist destinations, and high-end hotels, restaurants, and shops. Small businesses may charge a fee (usually 5–7 percent) to cushion the amount that credit card companies charge them. Visa and MasterCard are the most widely accepted credit cards.
Traveler's Checks and Bank Transfers
Traveler's checks are a safe way to carry money abroad, but in Guatemala you can only exchange them in cities and tourist destinations that have full-service banks. Also, American Express is the most widely accepted type of traveler's check, but even with this, you may still need to present your original purchase receipt.
If you are running low on cash while traveling in Guatemala, you could go to a bank transfer to have money sent. Many businesses and banks in Guatemala are affiliated with Western Union and therefore accept wire transfers without problems. However, the fees for these services are quite high, and you will often get a low exchange rate for your money.
Taxes and Tips
A 10 percent sales tax is usually included in the price of hotels, restaurants, and stores. The 12 percent hotel tax is usually included in the rates for budget and mid-range hotels, but for luxury hotels it is often added later.
Tipping is optional in small dining rooms. At higher-end restaurants, a 10 percent tip may be automatically added to your bill. Finally, tour guides usually receive a 10 percent tip.
Cryptocurrencies
According to the data on the coinmap.org website, there are several sites where you can make payments with BTC, most of them located in the capital, Guatemala. Although there are others in the city of Quetzaltenango, in the northwest of the country, and in the department of Escuintla. In this way, cryptocurrencies are accepted as a payment method in various stores located in these locations.
On the other hand, in the hotel sector, payments with bitcoins are accepted in at least four hotel networks. Villa Orotava, in Antigua Guatemala; Riviera de Atitlán, in Atitlán; and the Villas Vacacionales and Villas Los Cabos hotels, in Monterrico, accept payments with cryptocurrencies.
However, you need to know that this currency, as new as technological as it is, it does not have the back up of the authorities here in Guatemala nor the BANGUAT.