snomopc Posted February 10, 2016 Share Posted February 10, 2016 What's my best places to do my exchange? Should I do it near the border or wait till I get to smaller towns? I heard some of the places near the border will soak you for doing the exchange. Link to comment Share on other sites More sharing options...
Nith Valley Sledder Posted February 10, 2016 Share Posted February 10, 2016 If you want the best exchange rate you should go to a bank. Small businesses aren't going to give you the best rate as they then have to take the US currency to a bank for the exchange. Link to comment Share on other sites More sharing options...
revrnd Posted February 10, 2016 Share Posted February 10, 2016 Go to a bank, any bank. CIBC, Toronto Dominion, Bank of Montreal, Royal or Scotia. Our banking system is different that the US. These companies have branches across Canada. The rate of exchange is the same whether you do it in Niagara Falls or Hearst for example. I have no experience w/ any currency exchange outfits or Western Union. Maybe Skidooboy or Akron Orange can chime in (or any of the Canadian members that have bought & sold US currency for trips south). What ever you do, don't do it @ stores or you'll get taken big time. Link to comment Share on other sites More sharing options...
NiagaraKev Posted February 10, 2016 Share Posted February 10, 2016 if you are coming over in Niagara ...stop at the Ontario Tourism on the QEW just outside of St.Catharines ...currency exchange there ...OR any Canadian Bank Where are you headed ? Link to comment Share on other sites More sharing options...
GrizzlyGriff Posted February 10, 2016 Share Posted February 10, 2016 use a bank card at a cash machine (atm). your bank will process the exchange rate. Link to comment Share on other sites More sharing options...
ontariof7 Posted February 10, 2016 Share Posted February 10, 2016 Use any of the mentioned banks in any town or city. This will be your best rate and honest rate. Link to comment Share on other sites More sharing options...
snomopc Posted February 10, 2016 Author Share Posted February 10, 2016 if you are coming over in Niagara ...stop at the Ontario Tourism on the QEW just outside of St.Catharines ...currency exchange there ...OR any Canadian Bank Where are you headed ? Ramore Link to comment Share on other sites More sharing options...
skidooboy Posted February 10, 2016 Share Posted February 10, 2016 casinos give good rates, walk in, exchange money, they think you will stay and gamble, go on your trip. your debit card will give the prevailing daily rate BUT, they may charge you an "exchange fee". your credit card will give the best rate, as long as it doesn't ding you for a "foreign transaction conversion fee" some do some don't. capital one and am express does not charge those fees. your results may vary. best thing I can tell you is, only get enough cash for food, tips. put all fuel, hotels, ect... on the card with no fees. Ski Link to comment Share on other sites More sharing options...
snomopc Posted February 10, 2016 Author Share Posted February 10, 2016 Thanks for all the good tips. Link to comment Share on other sites More sharing options...
Black Dog Posted February 11, 2016 Share Posted February 11, 2016 And don't accept any of these! Link to comment Share on other sites More sharing options...
Dan-Senior Posted February 11, 2016 Share Posted February 11, 2016 As mentioned above, local banks are your best bet for fairness, although they do take approximate 3.5% commission on any buy and 3.5% commission on any sell, therefore, there's an approximate 7% gap between what you will buy for and what you will sell for, should you decide to cash back in on your way home. We have also had good luck at the Canadian Border Exchange Outlet. Example: The Canadian dollar (Feb 11th) today is worth 71.67 US. 1 / 71.67 = $1.395 $1.395 - (1.395 *.035 bank commission) = $1.3467 You will get $1.3467 CDN for $1 US dollar Should you decide to cash out when leaving Canada, your $1.3467 drops in worth to $US.94 cents, due to commission fees. You may want to buy just what you need and use Credit Card for main purchases. My wife and I travel into the US often and we let the credit card company do the conversion or use our US bank account. Hope this helps. Link to comment Share on other sites More sharing options...
ArcticCrusher Posted February 11, 2016 Share Posted February 11, 2016 I use my credit card wherever I go. Rarely do I have cash. Link to comment Share on other sites More sharing options...
jedanr Posted February 11, 2016 Share Posted February 11, 2016 Always good to have enough cash on hand for at least one load of fuel. Traveled up to the pumps before and signage posted saying credit and debit down; cash only. Not an uncommon occurrence in the north, Link to comment Share on other sites More sharing options...
ArcticCrusher Posted February 11, 2016 Share Posted February 11, 2016 Always good to have enough cash on hand for at least one load of fuel. Traveled up to the pumps before and signage posted saying credit and debit down; cash only. Not an uncommon occurrence in the north, My comment was more in general. Worse case, everyone will take USD, even at par. Link to comment Share on other sites More sharing options...
02Sled Posted February 11, 2016 Share Posted February 11, 2016 I use my credit card wherever I go. Rarely do I have cash. Likewise. I have typically never carried more than about $40 U.S. cash as a safety should I find myself somewhere that doesn't take credit or the purchase is too small to justify. Link to comment Share on other sites More sharing options...
Old Sledder Posted February 11, 2016 Share Posted February 11, 2016 casinos give good rates, walk in, exchange money, they think you will stay and gamble, go on your trip. Can confirm Link to comment Share on other sites More sharing options...
toddszr600 Posted February 14, 2016 Share Posted February 14, 2016 If there is a currency exchange place at your border crossing that will be your best rate, I live near the border and the exchange place(run by the bridge corp. or in Ontario tourism shop) is always better then my bank. Link to comment Share on other sites More sharing options...
FreezerBurnt Posted February 14, 2016 Share Posted February 14, 2016 shop around banks I know going the other way in the States depending on bank, we found a 5-6cent on the dollar difference at different banks the same day when exchanging currency Link to comment Share on other sites More sharing options...
SlowTouringGuy Posted February 14, 2016 Share Posted February 14, 2016 Ramore Sweet. A meal at Rolly's is a memorable sled stop ! Link to comment Share on other sites More sharing options...
AkronOrange Posted February 15, 2016 Share Posted February 15, 2016 We always exchange at Duty Free. It's not the best rate but it's convenient. We're typically there anyway. The best rate is achieved using your card whenever you can; your bank should apply the exchange at the current rate. Link to comment Share on other sites More sharing options...
lannoc24 Posted February 16, 2016 Share Posted February 16, 2016 Are airport exchange booths more expensive than the bank? Link to comment Share on other sites More sharing options...
Old Sledder Posted February 16, 2016 Share Posted February 16, 2016 Are airport exchange booths more expensive than the bank? Generally speaking, yes they are and the rates can be downright criminal Link to comment Share on other sites More sharing options...
Bucking Pig Posted February 16, 2016 Share Posted February 16, 2016 We always exchange at Duty Free. It's not the best rate but it's convenient. We're typically there anyway. The best rate is achieved using your card whenever you can; your bank should apply the exchange at the current rate.This is true, until they add in their fees, which usually makes up for any savings, in my experience. Link to comment Share on other sites More sharing options...
AC+YA Posted February 16, 2016 Share Posted February 16, 2016 Casino in SSM is open 24/7 - 365 days/year. There is about 3.5% as they seen to round it up or down depending on average resent exchange rates and if they are on the way up or down. No matter what time we come across the border they are open and ready to help. Link to comment Share on other sites More sharing options...
zrtkat Posted February 16, 2016 Share Posted February 16, 2016 Casino in SSM is open 24/7 - 365 days/year. There is about 3.5% as they seen to round it up or down depending on average resent exchange rates and if they are on the way up or down. No matter what time we come across the border they are open and ready to help. Scott thats where we exchanged our money at the casino Monday as everything else was closed ,they do not charge a fee,but there was a difference we checked online for $1300.00 =$1798.00 Casino $1300=$1742.00 still a good deal Greg Link to comment Share on other sites More sharing options...
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