Best Bitcoin Exchange for Cameroon

Cameroon – a country where tradition meets modernity, surrounded by breathtaking nature. Unfortunately, it is also a country that is particularly shaken by political unrest and rebellion in the border areas with the Central African Republic.

In the national parks elephants, lions, giraffes, but also rare birds of Africa can be observed in their natural surroundings. The Waze National Park, which consists of savannah and a few swamps, is especially recommendable. In the Da wildlife reserve, which lies on the river of the same name, you will find one of the best protected and largest rainforest areas with its wildlife.

Another natural beauty awaits the visitor of Cameroon at the Lobé waterfalls. The water masses of the Lobé River plunge here from 20 meters into the depth directly into the Gulf of Guinea. With Lake Nyos, Cameroon offers an additional natural spectacle of which only three are world-famous. Due to volcanic activity, carbon dioxide is stored in this crater lake at depth.

Mont Cameroun, which measures 4070 metres in altitude, is the highest mountain in West Africa in Cameroon. But from the much smaller Mont Fébé, which is located near the capital Yaoundé, one also has a good view over the landscape and the city.

The topic cash supply locally and the employment possibility of payment possibilities should be clarified before each journey. Interesting facts about means of payment in Cameroon, travel credit cards, exchange possibilities in local currency, card payment, unnecessary fees, and their saving, as well as some safety-relevant references are summarized in the following sections.

CFA Franc BEAC (XAF) – the local currency

Overview Banknotes CFA-Franc BEAC CameroonThe Franc de la Coopération Financière en Afrique Centrale, or CFA-Franc BEAC for short, is the national currency and therefore the official means of payment in Cameroon. The national currency is available in coins and banknotes as shown in the table below:

• Coins: 1, 2, 5, 10, 25, 50, 100, 500 CFA-Francs BEAC
• Notes: 500, 1000, 2000, 5000, 10,000 CFA francs BEAC

The national currency is limited to 20,000 CFA francs BEAC for tourism purposes and 450,000 CFA francs BEAC for import and export for business stays. Foreign currency, on the other hand, may be imported without restriction, but is subject to a declaration obligation. The export is limited to the amount declared upon import into Cameroon, minus the amounts exchanged.

Changing money in Cameroon

In larger cities of Cameroon, there are enough exchange offices and banks available to exchange money in the local currency, while outside the city it is often difficult to exchange money. Euro is exchanged without any problems, which is why there is no need to exchange it into the local currency at your local bank beforehand. It is advisable to take small denominations of euros with you to Cameroon and only exchange them as required, as a return exchange outside Cameroon is often only possible at a high exchange rate loss.

An exchange of other currencies, with the exception of the Euro, into the national currency is also subject to a high exchange rate loss. The redemption and exchange receipts should be kept in order to be able to present them on departure if required.

Banks in Cameroon are usually open from Mon – Fri between 07:30 and 12:30, sometimes until 15:00. Normally an exchange of money is carried out without charges. An exchange on the street is strongly discouraged. There often one cheats, by changing despite allegedly tempting offers to a substantially worse course.

Cashing traveller’s cheques in Cameroon

Traveler’s cheques are only advisable to take with you for security reasons, other means of payment such as a credit card is more effective for travel to Cameroon, it can be used more widely, and ideally, if you use a free traveler’s credit card, it is even free of charge. Because, depending on the bank, up to 5% fees are charged for cashing traveler’s cheques.

If you do not want to do without traveller’s cheques, we recommend American Express traveller’s cheques made out in euros. However, they should only be carried to Cameroon as an additional means of payment. A combination of cash, an EC card and at least one credit card makes sense in order to be flexible in all payment situations and Plan B-capable for emergencies.

Cashless payment in Cameroon

The option of cashless payment is basically possible in Cameroon, but mainly in hotels. Even in larger cities there is sometimes the opportunity to pay bills with your credit card. The Visa Card enjoys the highest acceptance. Nevertheless, one should not rely exclusively on the card payment in Cameroon and carry a corresponding amount of cash. EC cards with the Maestro or Cirrus symbol are only accepted to a limited extent for cashless payment. For each card payment, the credit card institute or house bank charges a foreign assignment fee. In order to find out the exact amount, you should contact the responsible institution before you start your journey.

The more cost-effective way to save the foreign assignment fee is to pay the bills directly in cash in local currency and first withdraw the required amount of cash at the ATM with a so-called travel credit card.

Withdraw money in Cameroon with an EC card

In all cities you can find suitable ATMs where you can also withdraw money with EC cards. It is important to know that the machines do not always function properly, are not sufficiently maintained or are not regularly refilled. Before travelling to more rural regions, it makes sense to withdraw sufficient cash in local currency in advance so that there is no financial bottleneck locally. When withdrawing money, it is important that the EC card bears the Maestro or Cirrus symbol.

V-Pay cards do not work in Cameroon for withdrawing money or for cashless payments. It is therefore advisable for V-Pay cardholders to carry at least one EC or credit card with them prior to travel.

When withdrawing money in Cameroon using the EC card, please note that the responsible house bank charges a foreign assignment fee. Depending on the bank, this varies between 5 and 10 euros and is charged per withdrawal. The more often an ATM is used, the faster the total fee increases. An economical alternative to circumventing these costs is here the travel credit card. Detailed information about it follows in the next section.

Withdraw money in Cameroon by credit card

With the help of a credit card, you can easily withdraw money in local currency in Cameroon after finding a functioning ATM. These can be found especially in the larger cities. One should always keep in mind in Cameroon that credit cards are accepted by the ATMs, but that many ATMs are out of order or can be empty. For this reason, it is advisable to always withdraw enough cash. When travelling to the more rural areas of Cameroon, it is also advisable to take sufficient cash with you.

With the common credit cards, the responsible credit card institute charges a foreign assignment fee for each withdrawal of money. This is usually between 1 and 4% of the total amount withdrawn. This fee can develop into an undesirable high cost factor in the course of the trip. However, in addition to conventional credit cards, there are so-called travel credit cards on the market which enable you to withdraw money free of charge in Cameroon and worldwide. The following link lists the banks that offer a free travel credit card.

Up to two weeks processing time should be expected, therefore it is advisable to apply for the card in good time before departure.

Cash withdrawal security in Cameroon

An official partial travel warning has been in force for Cameroon since 2015: the border areas to the Central African Republic in particular are considered unsafe due to rebel attacks. There are over 20 documented cases of kidnapping of foreigners. Depending on the destination and intention of the trip to Cameroon, you should definitely contact the Federal Foreign Office or the German Consulate on the spot. Unfortunately, Cameroon is also one of the countries with a high crime rate, regardless of the political explosiveness. Therefore, when travelling to Cameroon, special care should be taken when handling cash and valuables. Theft, especially in larger cities and tourist areas, is not uncommon.

It is advisable to carry a minimum amount of cash with you and distribute it among several bags. Even if finding a functioning ATM in Cameroon is a matter of luck, one should try to avoid dark alleys or inanimate places in order to safely withdraw money in local currency.

Otherwise, when withdrawing money in Cameroon, the usual rules apply as they do everywhere else: it is essential to ensure that the PIN is entered in a concealed manner and that the PIN and associated card are stored separately; the withdrawn money should be stowed away immediately and not carried around visibly for others. Unused cash, valuables or travel documents should be kept in the hotel safe. Regular checks of the credit card statement or bank statements can immediately reveal any misuse.

If the card is lost or stolen despite observing the security instructions, you should contact the blocking emergency service without delay and have the card blocked. The number of the blocking emergency call can be reached via the following link. This international blocking emergency call can be reached at any time of the day, any day of the week.