AMSC 2018
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Foreign Exchange
ForeignExchangeFee
What is the Foreign Exchange Fee (FXF)?
Why is it being introduced?
How much is the FXF?
When is the FXF being introduced?
Who has to pay the FXF?
Is anyone exempt from the FXF?
Does the FXF apply to all foreign currency transactions?
Will I have to pay the FXF if I buy foreign cash at the bank?
Will I have to pay the FXF if I pay for a wire transfer or a bank draft?
What about credit card purchases? Do I have to pay the FXF on them?
If I make a foreign currency purchase and it is cancelled, will I get a refund on the FXF I paid?
How about if someone sends me money from overseas. Will I have to pay the FXF then?
Will I have to pay the FXF if I convert foreign currency to Barbados dollars?
Will I have to pay the FXF if I use foreign currency to pay for something at the cash register?
I have a foreign currency account. Will I have to pay the FXF?
Does the introduction of the FXF reduce my annual foreign currency allowance?
Guidance Note – Implementation of the Foreign Exchange Fee
Exempt Transactions
FXF Booklet
List of Statutory Bodies