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GordonThree's avatar
GordonThree
Explorer
Apr 30, 2014

Cheapest place to buy cash in Canada?

Crossing the border in a few weeks... where is the most economical place to buy some Canadian currency?

Last time I was there, I just stopped at a random bank that was easy to get into with my rig. I think it cost me $25 to buy $500 in cash. That's less expensive than buying Euros, but still seemed kind of high.

Are there credit unions or different brands of banks that charge lower fees? I found an ATM in Banff of all places that charged a flat $2 fee, and no fee from my bank... but I didn't want a billfold full of twenties, so I only withdrew a few hundred.

Is it cheaper to buy some distance from the border, rather than the first bank you see right at the crossing?

I asked about buying currency at my local bank, and they acted like I wanted a ticket to the moon or something.

26 Replies

  • Not exchange rate... fees and other charges, do they vary by bank like the US and Europe?
  • Check to see if the Bank you deal with in the U.S. has a reciprocal agreement with any Canadian Banks. We bank with Scotia Bank in Canada and they have an agreement with Bank of America that there are no ATM fees charged for withdrawals.
    Your Bank may have such with a Canadian Bank.
  • Just checked the "current" exchange rate.

    1 USD costs 1.10 CDN