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snomopc

US to Canadian Dollars

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snomopc    0

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.

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revrnd    807

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.

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NiagaraKev    23

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 ?

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GrizzlyGriff    89

use a bank card at a cash machine (atm).  your bank will process the exchange rate.

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ontariof7    162

Use any of the mentioned banks in any town or city. This will be your best rate and honest rate.

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snomopc    0

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

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skidooboy    494

casinos give good rates, walk in, exchange money, they think you will stay and gamble, go on your trip. :D

 

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

Edited by skidooboy

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Black Dog    55

And don't accept any of these!

 

post-22651-0-82356400-1455208754.jpg

 

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Dan-Senior    204

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.

Edited by Dan-Senior

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ArcticCrusher    122

I use my credit card wherever I go.  Rarely do I have cash.

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jedanr    2

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,

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ArcticCrusher    122

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.

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02Sled    1,610

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.

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Old Sledder    179

casinos give good rates, walk in, exchange money, they think you will stay and gamble, go on your trip. :D

 

 

Can confirm

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toddszr600    8

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. 

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FreezerBurnt    217

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

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AkronOrange    133

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. 

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Old Sledder    179

Are airport exchange booths more expensive than the bank?

Generally speaking, yes they are and the rates can be downright criminal

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Bucking Pig    127

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.

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AC+YA    92

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.

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zrtkat    166

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

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