OT: Exchanging US $$ for Canadian $$

[Snowysmom]

I am a complete neophyte when it comes to currency exchange. I can plan a Disney trip with complete itinerary and money needed very quickly. However, we are going to Canada (Niagara Falls for one night and then Toronto) this summer and I need to exchange dollars. What I plan to do is exchange some here at my bank and then use an ATM in Toronto when we need more cash. I plan to use my credit card for attraction tickets. Is this a good plan or is there a better way to exchange the dollars. I just don't want to get caught short and would like to get a fairly good exchange rate. My brain just doesn't want to get the hang of currency exchange!

 

[pixiemomma]

Sounds like a good plan! (Although I never use ATMS so I have no idea what sort of charges you may incur.) Try to avoid using US cash for purchases. Although accepted almost everywhere you will get a crummy exchange rate. Enjoy Toronto, it is my favorite city to visit.

 

[katied]

Normally your best bet is to just use ATMs. Changing actual US$ for CDN$ normally gives you a much worse rate than from the ATM's. You can carry some US$ on you in case you have trouble with the ATMs, but you should be fine if your ATM card is part of one of the main systems (Plus, Star, etc.)

For credit cards - some credit cards charge an exchange fee for charges not made in US$ - normally 1 - 2%. However, this fee still results in an overall better rate than actually paying to change US$ to CDN$.

As an FYI - I've been out the country enough to have run out of pages in my passport. I travel quite a bit internationally for work, as well as for fun, and just use ATMs and credit cards.

 

[Cruisin]

When I travel outside of Canada TO the United States, I take a few hundred dollars cash in US money, which I get from my local bank.

I use my credit card for major purchases, gas, meals etc.

If I need more cash for some reason I find an ATM.

The exchange rate right now is approximately........ one US dollar is equal to $1.11 Canadian.

 

[HayGan]

My company is based out of Mississauga, Ontario so I travel from the US to Canada quite frequently. I only use the ATMs and credit cards for cash/purchases. Do not use currency exchanges as they charge high fees and typically give crappy exchange rates!