Money in Canada

OK, I can accept that they don't want to stock US currency or coin. Then why don't they refuse to accept USD for payment? As I said, it wasn't a big deal, just a curiosity. Actually I think it is more about the exchange rate.

I use an unchip card all over canada. Now you gotta watch out with credit cards unless designated for foreign use there is a transaction fee involve along with the conversion rate with every purchase. I use the Chase Sapphire preferred card for all expenses out of the US. It does have an annual fee but Chase offers a promotion the card spend so much in a certain about of time and the card pays for itself for the first 5 years.

If you don't want to do that the best place to exchange US cash to Canadian is at a duty free shop before entering customs. Banks and retailers won't give as good of exchange rate.

Just a minute here folks. Canada is now set up to use chipped cards with a pin number. Do un-chipped USA cards work everywhere??? I don't know. I have heard of un chipped cards being refused in Europe. Canada ???

Perhaps anyone who has been to Canada with a USA issued card in the last 6 months or so can give us a "heads up" .....

Canada is a foreign country, BUT EXTREMELY FRIENDLY. If you were in business in Florida would you accept Canadian money for your goods and services? And if you did would you give the current exchange rate? You are talking about traveling all the way across Canada to Alaska.

To answer your question, In my opinion:

Since both credit/debit cards are accepted nearly everywhere, and Canadian currency is accepted everywhere, it really depends on how much you plan on spending and how much you want to save.

Nearly all cards have a 3% international fee applied to each transaction. You need to check with your bank to see if they charge the fee. If they don’t, then by all means use the card.

If they do charge the fee, then inquire if they have a reciprocal agreement with any Canadian bank to allow ATM withdrawals without having to pay an ATM fee.

We use BOA and they have an agreement with Scotia Bank that allows us to withdraw cash without the fee, and we get the current exchange rate. We have not used a card for purchases in Canada since 2005; the 2004 trip taught us a lesson, and we go every year. Now we just go to Scotia Bank and withdraw cash.

As you can see that is a savings of $30.00 per the thousand and I need it much more than the banks. Our trips to Canada over the past 10 years has averaged about $6,000 per year.

And depending on what you are driving you could spend a couple of thousand dollars just on fuel, camping, and food getting round trip through Canada. Example: a motorhome getting 8 mpg will cost at least $2,000 in fuel.

Go and enjoy. We have been 3 times.

You can see my trip logs at the website in my signature. They include the prices at the date incurred.

Gonzo42 wrote:
I went to Vancouver island to see Borchard Gardens (great) but when I spent USD there they always gave me change in Canadian coins. Refused to give me US coins, saying is was a rule or law, I forget which. Kind of a funny thing, not a big deal, but I wonder what little trick that is all for.

I'm not sure I follow. You thought a Canadian retailer would stock US change? Maybe I misunderstood.

Orion wrote:
Can you imagine what happens when I go to California and try to buy something with Canadian money? I have had even Canadian coins, which are the same size and denomination, literally thrown back at me!
I cannot imagine going to a different country and expect them to take foreign money, let alone expecting them to make change in your currency. That has to be the height of arrogance, sorry!

X2

Gonzo42 wrote:
I went to Vancouver island to see Borchard Gardens (great) but when I spent USD there they always gave me change in Canadian coins. Refused to give me US coins, saying is was a rule or law, I forget which. Kind of a funny thing, not a big deal, but I wonder what little trick that is all for.

It could be that there was not US change. It could be rules of the store, they mix all the change together in the till. It could be the time spent to pick out US change. Other places keep change separate because they have to separate it to go to the bank. They don't worry about trying to figure out the exchange rate on change.

When we go to the US we have never been allowed to use Canadian change. I keep two change purses for each currency. Think of it being a convenient thing that you can use US coin here.

Can you imagine what happens when I go to California and try to buy something with Canadian money? I have had even Canadian coins, which are the same size and denomination, literally thrown back at me!
I cannot imagine going to a different country and expect them to take foreign money, let alone expecting them to make change in your currency. That has to be the height of arrogance, sorry!

I went to Vancouver island to see Borchard Gardens (great) but when I spent USD there they always gave me change in Canadian coins. Refused to give me US coins, saying is was a rule or law, I forget which. Kind of a funny thing, not a big deal, but I wonder what little trick that is all for.

Beverley&Ken wrote:
"Just be aware that in Canada that $1 is a gold coin (Looney) and they also have a $2 coin that is silver and gold. They don't use $1 paper money"
Actually more changes, the one dollar coin has always been an alloy, not gold, we are not that rich. The one cent penny has been taken out of circulation and cash registered changed to account for 'penny rounding' IF paying in cash. Amounts ending in 8,9,0,1,2 round to 0. 3,4,5,6,7 round to 5.
Another change that you quickly notice is our paper money, always colourful, but now changed to a polymer (plastic). $5 and $10 are still in transition, but other have all been changed to plastic/polymer, watch them, they tend to stick together.

Beverley and Ken

The new 5's and 10's are already changed.