VelvetFoot
Top Post Dawg
What's the best place to exchange currency in Canada?
Thanks.
Thanks.
Currency Exchange
- Thread starter VelvetFoot
- Start date
Dave_D
Veteran Member
- Joined
- Jun 9, 2003
- Location
- Gaithersburg, MD, USA
- TDI
- 2015 Passat Titanium Beige six speed manual & Jetta, 1999.5, Tornado Red
At a bank.
GoFaster
Moderator at Large
If the situation down there is anything like the situation here, the best exchange rate is to use your credit card for as much as possible.
Doesn't work for cash requirements, though. For that, it's probably best to go to the bank where you do all your regular banking and get it that way, since you have an account there. For Canadians getting US currency, this is usually the best choice, and I would imagine that the reverse is also true.
Failing that, your US ATM card will work in Canadian ATM's, direct-payment and debit-card stations, and the like, provided that both the card and the machine are compatible with "Interac" (which most are). You'll get dinged with a couple of bucks for the service charge on each transaction, but it works.
There is a last-chance currency exchange at the border crossing points but I don't know how their exchange rate compares. Probably not that great.
If all else fails, most Canadian businesses will accept US currency but don't expect a good exchange rate.
Doesn't work for cash requirements, though. For that, it's probably best to go to the bank where you do all your regular banking and get it that way, since you have an account there. For Canadians getting US currency, this is usually the best choice, and I would imagine that the reverse is also true.
Failing that, your US ATM card will work in Canadian ATM's, direct-payment and debit-card stations, and the like, provided that both the card and the machine are compatible with "Interac" (which most are). You'll get dinged with a couple of bucks for the service charge on each transaction, but it works.
There is a last-chance currency exchange at the border crossing points but I don't know how their exchange rate compares. Probably not that great.
If all else fails, most Canadian businesses will accept US currency but don't expect a good exchange rate.
VelvetFoot
Top Post Dawg
Thanks guys. I'll give my local bank a whirl next week.
suds
Veteran Member
What GoFaster said.
fincoop
Veteran Member
- Joined
- Mar 19, 2001
- Location
- Burlington, Ontario, Canada
Almost.
Interac is actually Canadian. The international system is Plus or Cirrus. Since the Americans have a plethora of banks to choose from, not all bank cards share the same standards like ours do. Plus is your best bet for withdrawing cash from an ATM, unless you want to cash advance your credit card
. CIBC bank does do Cirrus IIRC, the rest are Plus.
Interac is actually Canadian. The international system is Plus or Cirrus. Since the Americans have a plethora of banks to choose from, not all bank cards share the same standards like ours do. Plus is your best bet for withdrawing cash from an ATM, unless you want to cash advance your credit card