Credit card/cash questions for travel in Canada

A week after introducing the new plastic bills the banks called business owners in to explain how to detect counterfeit bills.

I went to Northern Credit Union yesterday in Petawawa, Ontario and got $300.00 in $20s The cost to my US account was $229.46. That was a good exchange I think. I would have preferred a couple of $50s but $20s spend as well.

As here in Interior Alaska, only one of the three American bank accounts I have just issued a new chip card last month (I still had not activated it as I use the current issue swipe card -visa debit-) - as the swipe strip card is still the norm around here in Alaska....I have yet to see any chip card reader device in Interior Alaska as I only use my debit card for local and Tok gas purchases and internet purchases as I keep a minimum balance in it enough to cover costs and not keeping more than $200 in it at anytime.

The bankcard I have for my Canadian account has the (swipe) (chip) (tap) sensor features as that has been implemented since 2011, a year after I opened up the account....the only time I use it is at the bank for money withdrawals as they use the chip reader and having to punch in the code - I do not use it for debit purchases as I generally pay cash for everything while in Canada.

As mentioned before on previous discussions in this topic, today's electronic infrastructure is modern thru Canada unlike in the past 30 years ago while the farther up north you traveled in Canada, the majority favored cash as some places would not accept a gas or credit card from Americans because of potential stolen or cancelled cards the merchant got stiffed on.

Major credit cards and debit cards like Visa and Master Card are widely accepted throughout Canada even in the majority of remote business places as they are on the interlink system....From what I had noticed seeing Canadians using their cards over the past 5 years or so, they all had been using the chip reader device and punched in their code for rendering payment, the strip reading cards I don't recall seeing anyone in Canada use anymore but I am short of saying others don't other than Sue mentioning about using the strip card feature.

Pertaining to card users, it is still best to carry a few hundred bucks of Canadian cash the farther up north you go (like central and northern Canada) because of the few times the electronic infrastructure will glitch and not accept payment (doesn't happen too often but does happen more often than it should) - that's where cash is still king as in a situation where no credit or debit card payments can be made when you need fuel or other important stuff, save the extra time from unspecified waiting and pay with cash and be on your way.

As mentioned, the other reason of needing some Canadian cash onhand is for paying campsite fees as it is strictly a cash basis form of payment, and for feeding the laundry machines in order for them to work on laundry day, and not to mention some automated showers that have cash or token dispensers for those like me that do not use their shower in their RV.

For those that are fee cautious like me that does not want to pay for somebody else's retirement, for those visiting Canada it is best to exchange money while in Canada (with or without a card or no fee, etc.) as most Canadian banks have a more favorable exchange than exchanging money at American banks.

Since 2009, Canadian banks in Whitehorse got tighter and either would no longer exchange money with non account holders and referred someone to a currency exchange center and pay a 5% exchange rate or more with no limit, as the one bank I dealt with had just implemented a $1000 a day exchange limit with a $3 fee and a 2% exchange rate at the time...

That's when I was real serious on obtaining a Canadian bank account with no limit on exchanging money with a slightly better rate and no fee, but I was still subject to the bank rate of exchange which was still a lot cheaper versus some exchange center or anywhere else....While I was in Edmonton the following year passing thru, the bank there was happy to open an account for me and it is soooooo versatile and by far my favorite account while getting a slightly higher exchange rate for non cash transactions, and even a higher than that exchange rate if over $1000 !....I can exchange money in either direction online 24 hours a day as well.

A few times I had exchanged money with individuals while keeping the middle man out of it (the bank) as I am always in the market of buying Canadian cash for selling American cash at the TRUE exchange rate as me and the other parties save roughly 3% in Canada and more than that for what a terrible rate a US bank in Alaska charges.

A friend came to my workplace last week and scored on some Canadian money knowing exactly where to exchange it as I bought $350 CAD for $270 US, as I gained an additional $5 USD or $6 CAD that a Canadian bank didn't receive from me, or in her case the American bank offered her close to $24 less for exchanging it than what I paid her - we were both happy.

As also mentioned, if near a Walmart in Canada and during a weekend or closed bank hours and needing a little extra Canadian cash for a day or so to tie over before the banks reopen...I bought a $4 item and got back $102 CAD change while spending a US $100 bill at a Walmart once.

I also went to the Chances casino cage in Ft. St. John one time and exchanged $300 US as I was low on Canadian cash knowing I would not have enough to make it to Whitehorse unless I exchanged some money (before I had a Canadian bank account), the casino actually had a better exchange rate than what the bank there offered as the bank was closed for the weekend but seen their exchange rate billboard, surprised me.

For someone like me that had taken their vacations in Canada for the past 9 out of 10 consecutive years (and other times before), this method works for me while staying away from lots of fees fees fees and keeping exchange costs to a minimum.

Hope a few things I mentioned in between helps another perspective view for the upcoming travellers, as many card users here will let you know the best travel cards to use also.

Interestingly enough, just a few days ago, I saw a sign in one of local stores that I had never seen before. It said NO US cash accepted. I asked if this meant just the bigger bills, 50s & 100s as you do often see signs for that, but no, this was for all US bills, as they said they had had so many forgeries, even the smaller bills.
The Canadian bills, being so coloured and plastic are probably too difficult to forge, so maybe all the bad guys, including the Can. ones are turning to US bills?

sue.t: "I have a swipe credit card with a pin and have no issues using it anywhere. Even at gas pumps."

Maybe because you are a Canadien?? Last Sept in BC & Alberta, anytime we used a card without the chip at a gas pump, we were prompted to go inside to swipe. Anytime we used the only card with a chip, the pumps accepted it. Since then, all of our cards have been changed to chip cards. I ASSume that most everybody has gone through the same, so a non-chip card may not even be an issue anymore for us down below!!!

As soon as we crossed we got $300 in Canadian cash from a bank. We enjoy public parks for our stays and many only have the 'iron ranger' to put money in an envelope and drop it in. This money was also used in laundries and for incidentals. It was more than enough for the whole trip there and back. The small amt. of leftover was deposited in Glacier Nat'l Park's donation jar at the end of the trip.

You'll find that Discover is not taken at many places. Get yourself a Visa card and many give cash back like Discover. We use Visa Freedom.

I recently obtained a prepaid VISA GO card from my credit union. I can use it in situations such as restaurants where my card disappears from my sight. I control how much money is on the card and actually load it with one of my other credit cards. Only issue is that it does not earn points but if compromised, very little money will be involved. I only load it with about $100 at a time.

I have a swipe credit card with a pin and have no issues using it anywhere. Even at gas pumps.

Some of the young cashiers think I'm a senile old lady, and try to grab it out of my hand to put it in the chipped card slot. The older cashiers tell me to keep it as long as I can, because the "old" swipe cards are more reliable than the new chip cards. It's only about 20 years old...

I was thinking some of the same questions...
My Credit Union does not deal with any foreign exchange issues at all, so I visited one of the local banks. I found that TD Bank has the best capabilities. For a basic checking account with a $100 balance I can buy/sell Canadian currency with no exchange fees. They also provide a VISA/Debit card that is good not only in the US but also in many ATM's in Canada. In addition, there are no fees or exchange fees while doing this since TD US is part of TD Canada. It apparently is treated as one big system. The helpful bank person even told me that if I close the account within 30 days there won't even be an account maintenance fee of $5.99.
I think I'm going to open the account, throw some travel money in there, get some Canadian Cash, travel and not worry as much as I was.

jnharley wrote:
I love the Canadian method for credit card payment for restaurants. They bring a machine to your table and you take care of the entire transaction including tip and the card never leaves your sight. I would ask your bank to replace your non chipped cards with chipped cards. We did this recently since we may travel up into Canada this summer. If you have a swipe card, you will have to go into fuel stations to start the pump as we found you could not swipe at the pump at any of the stations we stopped at. Chipped should be ok though. We added PINs to our chipped cards. We are not sure they would work the same as a Canadian card (chip and PIN) since the US is chip and sign technology. The powers that be thought the American people were not smart enough to remember a PIN associated with their credit card. Really?!

I really like the part about the credit card never leaving your sight and now that I am used to it I get an uneasy feeling when using a credit card in the US because of that. I also love the chip and pin and one step further tap payment method.

I love the Canadian method for credit card payment for restaurants. They bring a machine to your table and you take care of the entire transaction including tip and the card never leaves your sight. I would ask your bank to replace your non chipped cards with chipped cards. We did this recently since we may travel up into Canada this summer. If you have a swipe card, you will have to go into fuel stations to start the pump as we found you could not swipe at the pump at any of the stations we stopped at. Chipped should be ok though. We added PINs to our chipped cards. We are not sure they would work the same as a Canadian card (chip and PIN) since the US is chip and sign technology. The powers that be thought the American people were not smart enough to remember a PIN associated with their credit card. Really?!