A Currency Exchange Question For My Canadian Friends

[Bill From PA]

This is sort of WDW related because the trip we're taking to Niagara Falls ON is a result of Starwood Points earned by stays at Swan and Dolphin. Anyway... a tourist site for NF claims I should just put everything on my credit card during our trip and that the CC company will give us the fairest rate. A co-worker says I should stop on the American side and swap $$ at a bank. Can anyone enlighten me as to the best course of action?

Thanks,
Bill From PA

 

[almacdonald]

Don't use your credit card until you find out the terms! I know that with my canadian cc, buying stuff from the US, I get a terrible exchange rate, something to do with a service charge or something. We always get american money at our bank before we travel, that way there's no surprise charges!

 

[nflder]

Glad to see you venture over to our side!! When we go to WDW we exchange money here before we go and use our credit card. Using you credit card gives you the exchange rate that was available on the close of business the day before. We have never been charged any additional service charges for using our credit card.

HTH

 

[mickeywho?]

Amex, Mastercard and Visa in Canada charge 1.5 - 2% on top of every purchase. This is included in their exchange rate so is in fact a hidden fee.
Watch the exchange rates (I think our dollar is a bit down today) and bring some cash or travellers cheques. We usually give our credit card for any room charges (while at Disney anyways) and pay cash or tc at the desk before the charges go through.
Restaurants and attractions are always happy to accept cash or tcs - they'll give you an exchange rate for US$ but don't expect a fair value.
Have fun in Niagara - and don't miss the Butterfly Conservatory - it's a lovely drive along the river and a pretty cool hands on exhibit!

 

[coastgirl]

I have checked my card rate and the bank's rate a number of times and my card is usually better. It's nice to have some cash, but we always just go to a bank machine when we're...where-ever. In our experience, the fees are pretty much the same. Very occasionally we have bought "odd" currencies (Irish and English come to mind, though Irish is no more) at a big currency exchange at home, but back and forth to the US we always just use our cards as if we were home. Give your bank and your CC company a call on the same day and ask what their rates are...it'll give you a point of comparison.