US to Canadian $ Exchange - Fiberglass RV



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Old 10-28-2018, 10:27 PM   #1
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Name: Rod
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US to Canadian $ Exchange

Just got back from a six-week trip into New Brunswick, PEI, and Nova Scotia and apologize if somebody else has already discussed the new exchange policy in Canada. We just didn't have much luck with the internet or most any media while we were gone, so I missed a lot of information!


So when we entered Canada we stopped at the first Visitor Center in New Brunswick and they directed us to a nearby bank to exchange some US dollars. Yes, we did use a credit card most of the time, but it's nice to have a few dollars in your pocket "just in case". At any rate, the banker told us that they no longer do money exchange at banks unless you have an account there. I of course mouthed off and said that if I had an account I probably wouldn't be doing an exchange. That pretty much ended that conversation, but at the next bank they told me to find a Money Mart and that is what we did. Charged a small fee, but it did work.


In Prince Edward Island though they didn't have Money Marts, but we accidentally found that WalMart, being a US company, will take your US currency and give you change back in Canadian, so that was our method there. We did the same in Nova Scotia as well.


I am assuming that this policy is true everywhere in Canada. I am concerned that folks who should know (the Visitor Center people, for instance) don't seem to know about the changes and this discussion is to help inform those of us traveling to Canada that things have changed.
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Old 10-28-2018, 10:40 PM   #2
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Nothing new that I can see.

When I need to exchange currency, I go to my bank or to a currency exchange. I'm charged a fee.
Nothing new there.


If you are going to another country and want some walking around money, it's best to go to your bank where you live to do currency exchange.
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Old 10-28-2018, 11:27 PM   #3
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Helpful information Rod for people travelling to Canada.

I believe it is similar at some banks in the States, no account no exchange.It is also useful to check as at many bank machines you are able to use your bank card in other countries (if they are on the same network) which can be useful
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Old 10-29-2018, 06:49 AM   #4
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I always just use my ATM card and get $200 walking around money in Canadian funds. Then I charge everything I can to my Costco credit card. If you go the credit card route, be sure to check the fees on your card. Some cards charge an extra fee, others don't.

Tip, if you have left over currency, particularly coins, I just count it up and stop at a gas station near the border and buy that amount of gas. Yes, gas in Canada is more expensive, but converting $24.85 Canadian (example) into US is more trouble than it is worth.

I have found I need very little cash in Canada for traveling. But a little is useful!



https://www.creditcards.com/credit-c...action-fee.php
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Old 10-29-2018, 08:29 AM   #5
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Cash back at Walmart is a no fee ATM found all over. Buy some snacks or some small item you can use and use the get cash back option, generally up to $100. Saved me some money in Wyoming where campground only took cash and local ATM's the fee was pretty high. With a low limit which would have meant paying the fee at least 2x.


The whole exchange rate and conversion of funds for credit cards or cash is just one of the joys of international travel. The kids used to love the way their funds converted to more money and since Canada and the US are both "dollars" it seemed like free money to them.


I do recall a tourist destination on lake Huron where some of the businesses had double drawer cash registers. US funds went in one but the change came out of the drawer with Canadian funds. Zero exchange rate factored in. You paid US $20 for an $8 item then you got $12 Canadian back. At the time it was about a 20% exchange rate "hit" that worked to the sellers advantage. Reminded us to always stop and change some currency at the border.
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Old 10-29-2018, 09:02 AM   #6
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Sounds pretty simple in Canada.

It's more fun to exchange in China. The official exchange rate is shown on electronic boards in the airport, so you know about how many Yuan you'll be getting. There is a severe language barrier everywhere you go. At the bank, modern and similar to here, the banker will whip out an abacus and figure the exchange, then show you the abacus so you agree, and do the exchange. All above board, professional and courteous. Then you can start negotiating the price on any goods you want to buy. Of course, none of this has anything to do with camping.
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Old 10-29-2018, 09:24 AM   #7
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Yes we use atm card at most banks when we go to the US as well.
Sometimes I have to go to a teller with ID to get cash.
Never thought of the Walmart cask back,, good plan.
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Old 10-29-2018, 09:27 AM   #8
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Originally Posted by Rod D View Post
Just got back from a six-week trip into New Brunswick, PEI, and Nova Scotia and apologize if somebody else has already discussed the new exchange policy in Canada. We just didn't have much luck with the internet or most any media while we were gone, so I missed a lot of information!


So when we entered Canada we stopped at the first Visitor Center in New Brunswick and they directed us to a nearby bank to exchange some US dollars. Yes, we did use a credit card most of the time, but it's nice to have a few dollars in your pocket "just in case". At any rate, the banker told us that they no longer do money exchange at banks unless you have an account there. I of course mouthed off and said that if I had an account I probably wouldn't be doing an exchange. That pretty much ended that conversation, but at the next bank they told me to find a Money Mart and that is what we did. Charged a small fee, but it did work.


In Prince Edward Island though they didn't have Money Marts, but we accidentally found that WalMart, being a US company, will take your US currency and give you change back in Canadian, so that was our method there. We did the same in Nova Scotia as well.


I am assuming that this policy is true everywhere in Canada. I am concerned that folks who should know (the Visitor Center people, for instance) don't seem to know about the changes and this discussion is to help inform those of us traveling to Canada that things have changed.

We aren't your twin brother up here, we do things differently. Do your homework before you head North. Try getting Mexican cash when in the South west before crossing into Mexico...no account/no transaction !
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Old 10-29-2018, 09:59 AM   #9
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I tend to use currency exchanges before leaving home when traveling to another country after that I use ATM machines that are part of the same network this has always worked in the UK & Mexico.


If its any comfort to you living in Canada try going to a bank that you don't have an account with for anything they won't give the time of day.
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Old 10-29-2018, 11:13 AM   #10
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Foriegn Money Exchange

Most of us now have a credit card and an ATM card. Use them both when you travel almost anywhere. You'll get convenience and the best exchange rate, even when fees are added. $132 CDN credit charge just appeared as $102 USD on my VISA account, which included the fee, plus I'll get 1% back. ATMs work just as well, even with the fee, and they're never rude.
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Old 10-29-2018, 11:18 AM   #11
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A duty free store at the border (before you cross) is one way to change your money.
Otherwise the ATM does just fine, just remember to keep track of your balance.
Credit Card purchases may charge a 1% fee per transaction.
Discover Card does not work in Canada.
But, which ever way you go, spend lots. My countrymen will appreciate it!

It's a good idea too, to let your bank and Credit card company know where you are travelingÖ. so they don't think your card was stollen.
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Old 10-29-2018, 12:42 PM   #12
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Originally Posted by Rod D View Post
Just got back from a six-week trip into New Brunswick, PEI, and Nova Scotia and apologize if somebody else has already discussed the new exchange policy in Canada. We just didn't have much luck with the internet or most any media while we were gone, so I missed a lot of information!


So when we entered Canada we stopped at the first Visitor Center in New Brunswick and they directed us to a nearby bank to exchange some US dollars. Yes, we did use a credit card most of the time, but it's nice to have a few dollars in your pocket "just in case". At any rate, the banker told us that they no longer do money exchange at banks unless you have an account there. I of course mouthed off and said that if I had an account I probably wouldn't be doing an exchange. That pretty much ended that conversation, but at the next bank they told me to find a Money Mart and that is what we did. Charged a small fee, but it did work.


In Prince Edward Island though they didn't have Money Marts, but we accidentally found that WalMart, being a US company, will take your US currency and give you change back in Canadian, so that was our method there. We did the same in Nova Scotia as well.


I am assuming that this policy is true everywhere in Canada. I am concerned that folks who should know (the Visitor Center people, for instance) don't seem to know about the changes and this discussion is to help inform those of us traveling to Canada that things have changed.
We had he same problem in British Columbia this summer. In 2015 we could go anywhere and get money exchanged but not this year. Guess it'll be the credit card now or Walmart. Didn't know Walmart did the exchange rate. Thanks for the idea. We did use our credit card once and it worked well.
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Old 10-29-2018, 02:10 PM   #13
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Some credit cards don't have any foreign currency conversion fees, Capitol One being one example.
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Old 10-29-2018, 02:46 PM   #14
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Name: Ed
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With the very favorable exchange rate, I can buy a 19' Escape for about $8,000 more than I would pay for a 17' Casita.

Talking to Escape sales people shortly.
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