Forum Discussion
Crowe
Sep 11, 2016Explorer
When i go to or through Canada i go to my bank and order Canadian money to take with me. You can get it at an ATM in Canada but the fees are high.
You might want to check the exchange rate your bank is giving you vs. the OANDA currency exchange website (https://www.oanda.com/). You won't get what the "going rate" is but you should get within 3-4% of the open market rate. Banks may advertise they don't charge a fee-it's just hidden in the rate they give you. I can also order money through my bank but it's a royal hosing. My bank charges no ATM fees in Canada, nor does my credit card charge transaction fees. It's not a "one size fits all" situation and is bank-dependent. We just got back from Alberta and using our credit card gave us the best rate, followed by ATMs and banks. Many banks won't exchange money if you don't have an account there or will only do a minimal amount.
You might want to check the exchange rate your bank is giving you vs. the OANDA currency exchange website (https://www.oanda.com/). You won't get what the "going rate" is but you should get within 3-4% of the open market rate. Banks may advertise they don't charge a fee-it's just hidden in the rate they give you. I can also order money through my bank but it's a royal hosing. My bank charges no ATM fees in Canada, nor does my credit card charge transaction fees. It's not a "one size fits all" situation and is bank-dependent. We just got back from Alberta and using our credit card gave us the best rate, followed by ATMs and banks. Many banks won't exchange money if you don't have an account there or will only do a minimal amount.
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