Best Bitcoin Exchange for Benin
In the African country of Benin lies the birthplace of Voodoo. The place Quidah is known for its Voodoo religion and the Voodoo shrine of the holy Python can be visited here. Besides this spiritual place, Benin also offers other interesting destinations. The former kingdom of Abomay still shows the remains of the royal palaces.
Those who now expect magnificent buildings will find in Abomay unique remains of imposing loam buildings. Impressive architecture can also be found in the village of Ganvie. The pile-dwelling village, which also has a floating market, lies idyllically on a lagoon. Typical African craftsmanship can also be purchased at the market in Adjarra. In addition to drums, basketry and pottery are also offered here.
So that you always have enough small change in your travel money for your purchases, it is important to know where you can withdraw money in Benin. This and further helpful information around the topic means of payment can be taken from the following contribution.
CFA-Franc BCEAO (XOF) – the local currency of Benin
Overview Banknotes CFA-Franc BeninIn Benin is the national currency and therefore the official means of payment of the CFA-Franc BCEAO, divided into 100 Centimes. The national currency is available in coins and banknotes, the denominations of which are shown in the table below:
- Coins: 1, 5, 10, 25, 50, 100, 200, 250, 500 CFA francs
- Notes: 1,000, 2,000, 5,000, 10,000 CFA francs
The import of foreign exchange into Benin is unlimited, but must be declared. The exit of foreign exchange is limited to the equivalent of 500,000 CFA francs.
Currency exchange in Benin
Before starting the journey, one is always faced with the question whether one should already exchange money at the house bank. This is not necessary for a trip to Benin, because there are enough exchange possibilities in some bigger hotels, the official exchange offices or also the banks.
The opening hours of the banks in Benin are from Monday to Friday between 08:00 o’clock and 12:00 o’clock, as well as 15:00 o’clock to 17:00 o’clock. It is advisable to exchange money as needed. A return exchange is also possible outside the countries that do not have the CFA Franc BCEAO as their local currency, but it is afflicted with a high exchange rate loss.
Cashing traveller’s cheques in Benin
Due to the worldwide return of traveller’s cheques as means of payment, these should only be taken along as a supplement in the travel fund. In banks or exchange offices you can exchange traveller’s cheques, which are best made out in euros. When you create your travel fund, you should bear in mind that it consists of different means of payment in order to be prepared for every situation.
Cashless payment in Benin
A credit card may be used to make limited payments in Benin. If you find one of the acceptance points, you should know that a foreign assignment fee will be charged for the assignment. This foreign assignment fee is added to the invoice amount as a percentage and is usually between 1 and 4%. What doesn’t sound like much at first can add up quickly the more frequently the credit card is used as a means of payment. The fee for the assignment abroad can only be avoided if you pay your bills in cash. But the credit card can also be helpful here, because with the right one you can withdraw money free of charge in Benin.
Withdraw money in Benin by EC card
On a trip to Benin, the EC card can easily get stuck in the travel cash register. It is currently not possible to withdraw money in Benin even with Maestro cards. A credit card is therefore recommended to take with you. In addition to withdrawing money, it can also be used for cashless payments. All information about withdrawing money in Benin by credit card can be found in the next section.
Withdrawing money in Benin by credit card
Possibilities to withdraw money in Benin exist in Cotonou, Porto-Novo and Bohicon. Credit cards are accepted, but ATMs often do not work. Therefore, you should make sure that you have enough cash in your travel kitty and that you remember to replenish it in good time. In Contonou there is also the alternative of withdrawing money in the banks. Due to the high rate of misuse of credit cards, it is advisable to check the accounts regularly. However, a surcharge on the withdrawal amount of between 1 and 4% is normal. This is the fee for the assignment abroad, which is charged extra by the credit card institute.
If you want to save the foreign assignment fee, you should take a closer look at the offers of the banks via the following link. These few banks offer a free travel credit card with which you can withdraw money free of charge. These credit cards are not only suitable for a trip to Benin to save money, but with them money can be withdrawn worldwide free of charge.
The application should only be made in good time before the start of the journey, as the processing time can take up to two weeks. The application itself only takes a few minutes. In a separate, neutral envelope, you will receive the secret code. Once both have been received, the new credit card can be used immediately to withdraw money.
Security when withdrawing money in Benin
You should be careful when withdrawing money in Benin, because the abuse rate at ATMs is particularly high. For cashless payments, it is also advisable to check your accounts regularly in order to detect any misuse quickly. If there are irregularities on the statement, if the card is stolen or lost, you must act immediately to prevent greater financial damage.
To do this, please contact the blocking emergency call number directly via the following link. The hotline can be reached on any day of the week and at any time. This ensures that you can have your card blocked at any time, even from countries with time changes. Further helpful and useful links for the journey are provided below.