Navigating the exchange rate

[mamaofsix]

Does anyone have advice for how to use Gift cards to mitigate a falling dollar?

We paid off our hotel and bought tickets already. I am hearing there is a way to buy Disney gift cards in USD, hence locking in today's rate for a future trip. Would like to do this for our dining costs. But I had thought any gift cards bought in Canada would be charged at the future exchange rate at time of use?

Any wisdom / advice would be appreciated!

 

[deedubb]

Does anyone have advice for how to use Gift cards to mitigate a falling dollar?

We paid off our hotel and bought tickets already. I am hearing there is a way to buy Disney gift cards in USD, hence locking in today's rate for a future trip. Would like to do this for our dining costs. But I had thought any gift cards bought in Canada would be charged at the future exchange rate at time of use?

Any wisdom / advice would be appreciated!

You can only buy gift cards in USD from a US site (eg. Shopdisney, bestbuy.com, Target, costco.com). If you already have a giftcard in US funds, you can buy a digital card on those websites and transfer the funds over to your existing card. If you have a Disney gift card purchased in Canada with CAD funds on it, you cannot transfer the digital cards in US funds over to that card.

Many people people buy cards in Canada in CAD funds because there are no added fees when you go to use them. The exchange rate on the day you use them is the exact exchange rate you will get, so you avoid foreign exchange fees that credits cards add in. You cannot lock in the current exchange rate.

 

[mamaofsix]

You can only buy gift cards in USD from a US site (eg. Shopdisney, bestbuy.com, Target, costco.com). If you already have a giftcard in US funds, you can buy a digital card on those websites and transfer the funds over to your existing card. If you have a Disney gift card purchased in Canada with CAD funds on it, you cannot transfer the digital cards in US funds over to that card.

Many people people buy cards in Canada in CAD funds because there are no added fees when you go to use them. The exchange rate on the day you use them is the exact exchange rate you will get, so you avoid foreign exchange fees that credits cards add in. You cannot lock in the current exchange rate.

Okay, so if I'm understanding correctly: you can buy a Disney e-gift card in USD from a US site?

I'm a little confused by your next point: do I have to have an existing gift card with US funds on it to accomplish this?

 

[deedubb]

Okay, so if I'm understanding correctly: you can buy a Disney e-gift card in USD from a US site?

I'm a little confused by your next point: do I have to have an existing gift card with US funds on it to accomplish this?

Yes, if you buy a gift card in Canada, it will be in CAD and converted to USD on the day that you use it, at the exchange rate that day. Any gift card you buy physically in the US, or online at a US based store will be in USD.

You do not need an existing gift card in USD to purchase one, but unless the online store you purchase it from (eg. Target) will physically mail the card you purchase, you won't have a physical card. It will only be digital. If you already have a physical card in USD, you can transfer funds over to it.

Hope that helps.

 

[mamaofsix]

Yes, if you buy a gift card in Canada, it will be in CAD and converted to USD on the day that you use it, at the exchange rate that day. Any gift card you buy physically in the US, or online at a US based store will be in USD.

You do not need an existing gift card in USD to purchase one, but unless the online store you purchase it from (eg. Target) will physically mail the card you purchase, you won't have a physical card. It will only be digital. If you already have a physical card in USD, you can transfer funds over to it.

Hope that helps.

Ah, I see. Thank you. I think I can add a digital card to my apple wallet or to the Disney gift card website, correct? Trying to figure out if I actually need a physical card at all if buying from a US website.

 

[deedubb]

Ah, I see. Thank you. I think I can add a digital card to my apple wallet or to the Disney gift card website, correct? Trying to figure out if I actually need a physical card at all if buying from a US website.

Not sure, but you could definitely screen shot the digital card with the bar code or print it off and have a paper version. I have purchased many digital cards through Costco and Best Buy as they often have 10% off sales during Black Friday, but I have a physical US card that I always transfer the balances to.

 

[mort1331]

What I have done as pp have mentioned is purchase USD GC when there are sales. I then once in the states purchase a $25 gc from any of the stores in USD. I then can transfer the USD digital to the hard card on the DisenyGC website.

 

[kittyab]

I told hubby I would love to take the via rail to Niagra.

 

[Dawg74]

One thing we do is buy uber/Uber eats e-gift cards from Costco.com in the USA. $ 100 US gift card is 74.99 US currently and when not on sale is $ 79.99. We find using them for meals and transportation costs to/from the airport to be great. We look for Uber eats restaurants with deals. We still enjoy some Disney restaurants but mainly quick service. We also purchase other gift cards for Disney springs. Groupon recent had earl of sandwich 50 dollar gift cards for 34 dollars, and blaze pizza, 50 dollar card for 39.99. For anyone flying from Buffalo or another US airport we buy southwest gift cards at Costco.com . Recently they were $429.99 for a 500 US card. It’s not perfect but we find these measures mitigate the bad exchange rate a bit. Lots of other good suggestions from the group to. We enjoy going to Disney, but have also considered shortening our stays to save money also. One last small thing, we use a credit card with no foreign exchange rate, we have the Scotia bank infinite visa, the exchange rate is better than the bank by 2 or 3 % . When buying an e-gift card from Canada at Costco.com it asks for. US shipping address even though the gift cards are emailed. We signed up for a mailing address in Niagara Falls NY. Good luck all, let’s hope for a dollar at par or close to it in future!

 

[KCMA]

Not much you can really do… I usually pick up $200-$300 a month regardless of the exchange rate and just have a little stock pile for when US trips happen.. I’ve seen it go up and down so much in my life I don’t let it bother me and I don’t change my vacation habits because it may cost a few hundred more then normal

 

[Matrix21]

All i can say is thank God i already paid for my cruise in May
All i need to pay now if Mears Connect from Poly to MCO after the cruise and spending money. I'm still going to buy a gift card in CAD$

Next time, maybe a RCCL (which would be way cheaper) is on our radar or Disney Paris/Shanghai

 

[olliesmom]

We have a US banking bundle through RBC which includes a USD credit card and a USD chequing account. I have transferred our anticipated trip costs in USD into the USD chequing account, then can pay off balances (i.e., room, tickets) as I normally would. I can also link the USD credit card to our Magic Banks and MyDisneyExperience app so that we are paying directly in USD during the trip.

Having the money set aside does make it feel less painful to complete each transaction. I have mixed feelings about moving forward with our upcoming trip, but at the same time - our older kids are the perfect age for Disney (4 and 7) and I know that if we miss this window, there is no going back for a re-do.

 

[frjohnk]

You can only buy gift cards in USD from a US site (eg. Shopdisney, bestbuy.com, Target, costco.com). If you already have a giftcard in US funds, you can buy a digital card on those websites and transfer the funds over to your existing card. If you have a Disney gift card purchased in Canada with CAD funds on it, you cannot transfer the digital cards in US funds over to that card.

Many people people buy cards in Canada in CAD funds because there are no added fees when you go to use them. The exchange rate on the day you use them is the exact exchange rate you will get, so you avoid foreign exchange fees that credits cards add in. You cannot lock in the current exchange rate.

So if I go and buy $1000 dollars in Disney gift cards ( that Id use for mobile food ordering down in Disney) from a grocery store, I would get back the 4% I get from my credit card AND avoid the foreign exchange rate of 2.5% if were to just use my credit card for mobile food ordering while in the park?

Plus get Scene points if at Sobeys or Safeway?

 

[deedubb]

So if I go and buy $1000 dollars in Disney gift cards ( that Id use for mobile food ordering down in Disney) from a grocery store, I would get back the 4% I get from my credit card AND avoid the foreign exchange rate of 2.5% if were to just use my credit card for mobile food ordering while in the park?

Plus get Scene points if at Sobeys or Safeway?

Yes, but just so you know, it's a PITA using gift cards for mobile ordering. You cannot store the card in the MDE app like you can your credit card, so every time you mobile order, you need to enter the gift card number in when you reach the payment stage. You can store it somewhere on your phone and cut/paste, but still a nuisance IMO.

 

[meggiebeth]

We are actually going to London in May instead of a trip to WDW this year.

How exciting! As expensive as London is, funnily I find it’s still less expensive than the US in many ways - even with a good exchange rate. If you have time make sure you visit a place or two outside the capital!