Ok I think I'm an idiot... How do you get foreign currency?!

[SDSorority]

Hi all. DH and I are going to Canada in September, and I'd like to put some Canadian money in our stockings. We're going to need to get some eventually anyway, so I figure, why not?

HOW do I go about getting Canadian money?? Do i have to go through my bank? AAA? Some government agency? I don't want to be hit with a ton of fees.

Forgive me, I have never been out of the country before I just got my passport last week- first ever!

THANKS!!!!!!!!!!!!!!!!!!!!!!

 

[starry_solo]

1. Bank;
2. AAA
3. Last resort = airport.

If you belong to a major bank - Bank of America, Wells Fargo, Citibank - you can order the currency online or via telephone for pick up.

Some malls (large enough, if they are a destination for foreign visitors like the Ontario Mills mall in California) also have a currency exchange.

If you have a Capital One card, you can use it to charge purchases and not be hit with a foreign currency exchange fee. Otherwise, you can use your credit card and pay a 3% foreign currency exchange fee (which is about the fee you would pay in the US to exchange funds).

 

[eliza61]

If you go to a credit union or a smaller bank, they usually have a flat fee instead of a %. TDbank here in Souther NJ charged a flat 8 buck fee for up to 5000 dollars of foreign currency.

 

[HM]

I can order it through my Credit Union. You can probably get currency from your bank as well.

 

[SDSorority]

Ok awesome, thanks everybody! I think I'll stop by the bank on the way home and see if I can get it there!

 

[cornflake]

If you live near a city, they have stand-alone currency exchanges usually. Like a Forex or whatever, but they charge hefty fees, here or in Canada.

Bank is probably your best bet (this is true in Canada as well, if you find yourself needing cash, just stop in a bank there) - unless you know someone goes to Canada regularly, that'd be your real best bet. Currency is still about at par, they'll probably happily exchange with you.

You also probably won't need much, don't go crazy exchanging currency, you can use a cc and stuff just the same and probably end up better off, fee-wise than if you were to pay to exchange.

If you're going someplace close to the border, most places will also take U.S. dollars at a decent rate - most that do have signs or just ask. If you're going like, to the Yukon, or Jasper or what have you don't bother but if you're going to TO., they take U.S. a lot of places.

 

[elcodfish]

I was also going to say bank, if they don't have it, they will get it for you.

 

[SDSorority]

If you live near a city, they have stand-alone currency exchanges usually. Like a Forex or whatever, but they charge hefty fees, here or in Canada.

Bank is probably your best bet (this is true in Canada as well, if you find yourself needing cash, just stop in a bank there) - unless you know someone goes to Canada regularly, that'd be your real best bet. Currency is still about at par, they'll probably happily exchange with you.

You also probably won't need much, don't go crazy exchanging currency, you can use a cc and stuff just the same and probably end up better off, fee-wise than if you were to pay to exchange.

If you're going someplace close to the border, most places will also take U.S. dollars at a decent rate - most that do have signs or just ask. If you're going like, to the Yukon, or Jasper or what have you don't bother but if you're going to TO., they take U.S. a lot of places.

That's good to know. We're flying to Calgary, doing a few days there, driving up to Banff, doing a few days there, and then flying back out of Calgary.

 

[pigletto]

Here my bank has American currency on hand at all times. When I went to Scotland and needed a larger amount of Great British Pounds they needed me to give them 3 days notice to get it. I was a little suprised. It was about 800 dollars worth. I would have thought they'd have at least 1000 on hand. Apparently not.

ETA) I'm going to have to disagree a little bit with cornflakes post. I live very close to a major border and any place that takes American money or exchanges it looks to make a profit and the exchange isn't very good at all. The casino is one exception. Just something to keep in mind. Check the exchange rates with your bank and credit card companies and try to use plastic instead of cash if you go that route.

 

[Arabelle]

We stop after we arrive in the country. It has always been a better "deal" than getting before our trip.

 

[cornflake]

That's good to know. We're flying to Calgary, doing a few days there, driving up to Banff, doing a few days there, and then flying back out of Calgary.

Banfffffff!! Take me with youuuuuuuu! *climbing in suitcase and sitting happily*

You're going to Banff but not Jasper?! You plan to drive the ice highway and go up the Athabasca glacier though right? Right? Cause otherwise I'm climbing right out of this suitcase! Also, really good Chinese food in Jasper.

There are plenty of places to get cash in Banff - you can also usually just use your debit in an ATM like here.

Pigletto - Maybe it was places I was, or fees at banks I stopped in or my cc's or bank's fee on the ATM or laziness, heh, I just always figured it out as not bad when I've happened to do it. They are looking to make a profit, didn't mean to suggest they weren't, but when I've paid with U.S. it always seemed pretty worth it, given fees vs. the rate at the coffee shop or diner or whatever.

 

[CJMickeyMouse]

We got it at a large bank.... we had an account there so the fee was waived.

Good Luck!!

 

[Mkebound]

Please remember that plastic is the new global curreny. There is very little need to get foreign currency, and it will cost you less in the long run to just bring a creidt card with you that DOESN'T charege foreign transaction fees.

I understand you want some currency now for the novelty, but don't go over board when you can avoid all the fees you are going to have to pay now.

If you want, both chase.com and xe.com offer foreign currency fedex'ed to your house, usually a much better rates than a local bank.

 

[Gigi22]

Here my bank has American currency on hand at all times. When I went to Scotland and needed a larger amount of Great British Pounds they needed me to give them 3 days notice to get it. I was a little suprised. It was about 800 dollars worth. I would have thought they'd have at least 1000 on hand. Apparently not.

ETA) I'm going to have to disagree a little bit with cornflakes post. I live very close to a major border and any place that takes American money or exchanges it looks to make a profit and the exchange isn't very good at all. The casino is one exception. Just something to keep in mind. Check the exchange rates with your bank and credit card companies and try to use plastic instead of cash if you go that route.

Agreed. We are about 2.5 hours from the border, in a medium-sized city. With the exception of a few downtown retailers (many of which are tourist traps) and larger hotels, I can't think of any place that takes U.S. money.

 

[lost*in*cyberspace]

Just get it at an ATM in Canada.

I would not buy foreign currency so far in advance of a trip (almost a year). Wait and see if the exchange rates get better.

I travel internationally a lot, and pay for almost everything with a Capitol One credit card (no currency transactions fees). You really only need a very small amount of local currency for most countries.

 

[prncess674]

Just get it at an ATM in Canada.

Exactly this. The main thing you will need cash for is small purchases and short taxi rides. My first stop in any foreign country is the huge wall of ATMs after immigration. Get out enough cash as you think you will need for your small purchases and then go to the closest vendor and buy a foreign candy bar so you can get some small bills and coins.

 

[pigletto]

Banfffffff!! Take me with youuuuuuuu! *climbing in suitcase and sitting happily*

You're going to Banff but not Jasper?! You plan to drive the ice highway and go up the Athabasca glacier though right? Right? Cause otherwise I'm climbing right out of this suitcase! Also, really good Chinese food in Jasper.

There are plenty of places to get cash in Banff - you can also usually just use your debit in an ATM like here.

Pigletto - Maybe it was places I was, or fees at banks I stopped in or my cc's or bank's fee on the ATM or laziness, heh, I just always figured it out as not bad when I've happened to do it. They are looking to make a profit, didn't mean to suggest they weren't, but when I've paid with U.S. it always seemed pretty worth it, given fees vs. the rate at the coffee shop or diner or whatever.

Well after I posted I got wondering if what I said is true everywhere here or not. I grew up in Niagara Falls and worked in many tourist attractions/hotels/restaurants. Some were better than others but you were always better off going to a bank or currency exchange. Banff should be pretty bad too being a tourist town. I just remember Americans always being outraged when I told them the exchange rate. I can't blame them.

 

[bumbershoot]

DH gets currency from ATMs. Makes it easier. But he rarely uses cash at all, as most places now take CCs just about everywhere, including in many many taxis, and we've never noticed much of a difference in exchange rate between getting cash out and using the CC.


Just don't use those exchange places at the airport. DH got suckered into that once on one of his first work trips. They sold him a "bundle", but didn't tell him that when he sold the leftover money back that they'd be charging a fee AGAIN! We (I believe I'd pointed out the sign, but i didn't think to ask further questions of the exchange guy, when we took DH nice and early to the airport) felt like suckers.

 

[eliza61]

Please remember that plastic is the new global curreny. There is very little need to get foreign currency, and it will cost you less in the long run to just bring a creidt card with you that DOESN'T charege foreign transaction fees.

I understand you want some currency now for the novelty, but don't go over board when you can avoid all the fees you are going to have to pay now.

If you want, both chase.com and xe.com offer foreign currency fedex'ed to your house, usually a much better rates than a local bank.

I would get a few hundred. I know if Paris many taxis did not take cc's and many of hte stands along the Seine were cash only

 

[SDSorority]

I would get a few hundred. I know if Paris many taxis did not take cc's and many of hte stands along the Seine were cash only

Yeah that's what I just did. Bank charged $8 for the transaction fee (they needed to order it).

My roommate was almost stuck on a subway in Hungary because she didn't have any local money to pay to get off the train car. Luckily her (now) husband was able to pay for her to get off but if she wouldn't have been able to pay she would have gone to the police!! That always weighs on my brain!!

Thanks everyone for the tips!!