Canadian money

It just occured to me that we will be coming into Vancouver and will need Canadian money to pay for cabs, tips etc. for the 24 hours that we will be there. How do we get this cash ahead of time or is the dollar readily accepted?

For one day you can probably get by using a credit card and U.S. currency. We paid for our taxi from the airport to our hotel with a credit card. The next morning the taxi driver accepted a U.S. $10 bill for the $6 ride from the hotel to the port. If you want a small amount of Canadian money, I would wait until you arrive in Vancouver and go to an ATM machine.

How do we get this cash ahead of time or is the dollar readily accepted?

The dollar is accepted somewhat. If you want Loonies (Canadian currency), walk up to a friendly ATM at the airport or in Vancouver with your ATM card, insert it, enter your pin or pwd, enter the amount you want to withdraw, push the enter button and voila! Out will pop Canadian money according to the latest conversion rate.

Very handy.

I notified my bank in advance that I would be using my ATM card in Canada. I did so and within a few minutes got a 'fraud alert' email from my bank about my card being used out of the country.

I always save left over Canadian cash for my next trip. I made a reasonable haul of Canadian money by buying leftover cash from people at the airport when we departed who didn't know what to do with it!

One woman in our meeting refused to get any Canadian money and was refused service in a restaurant as they would take neither her debit card nor her American Visa credit card.

That doesn't happen often, but it does happen.

I was on an 11 day HAL cruisetour into the Yukon and interior Alaska. I never even thought about money. We transferred straight from the airport to the ship and sailed from Vancouver. When we departed the ship in Skagway, we took the White Pass Yukon RR up into the Yukon. At the summit we got on a coach and proceeded to Carcross, Whitehorse (overnight) then on to Dawson City (2 nights), so that would be 3 nights/4 days in the Yukon and everyplace we went accepted U.S. coin, paper, or credit card. I never had a problem spending money and we were in some pretty remote small towns. Probably didn't get a good exchange rate, but I didn't even think about it. They would accept the U.S. currency then give Canadian back in change. If you want to get some Canadian ahead of time by all means do so, but it isn't absolutely necessary.

Out will pop Canadian money according to the latest conversion rate.

Universal Currency Converter

from

http://www.xe.com/ucc/

Works anywhere in the universe. Even on Alpha Centauri

Universal Currency Converter

from

http://www.xe.com/ucc/

 

Works anywhere in the universe. Even on Alpha Centauri

Faster... just type 1 CAD in USD in Google or 1 USD in CAD in Google.

All US coins are accepted at par. When using US bills remember to overtip slightly. In spite of the currencies being at par, the banks take about 5% per transaction to convert it to CAD.

Expect businesses to discount USD as well. I have seen from 5% to 10% lately.

We will be in Vancouver for a few days and are planning on arriving with some Canadian Money. Many credit cards now charge a 3% foreign currency exchange "tax". Also, remember, that no matter what the exchange rate is, a business can charge whatever exchange rate they want, and you better believe they will!!! We have noticed in our travels in Ontario that businesses were charging way over the current exchange rate.

While many Canadian businesses may accept US$ in payment, they are under no obligation to do so. So a business may refuse to accept payment in US$ or charge whatever exchange rate they choose. As noted above, they will be charged a fee by their bank to deposit foreign currency (and US$ are foreign currency). And remember, even if they do accept US$ in payment, you will receive your change in Canadian $.

The best approach would be to obtain some Canadian $ for the period you will be in Canada.

While many Canadian businesses may accept US$ in payment, they are under no obligation to do so. So a business may refuse to accept payment in US$ or charge whatever exchange rate they choose. As noted above, they will be charged a fee by their bank to deposit foreign currency (and US$ are foreign currency). And remember, even if they do accept US$ in payment, you will receive your change in Canadian $.

 

The best approach would be to obtain some Canadian $ for the period you will be in Canada.

Yes, this is true!

In Halifax many business would not accept US coins. I did get one US quarter back in a handfull of Canadian change.

Many of the ATM machines I saw in stores had hand written signs that said 'Canadian debit cards only'.

Yes, this is true!

 

In Halifax many business would not accept US coins. I did get one US quarter back in a handfull of Canadian change.

 

Many of the ATM machines I saw in stores had hand written signs that said 'Canadian debit cards only'.

Not accepting foreign coins is not surprising. But an ATM card should work most anywhere in the world. If a debit card has a Visa logo - it should also be accepted anywhere Visa is accepted. If not - I wouldn't patronize that business.

I don't intend to get any Canadian currency for our 1 night in Vancouver pre-cruise in July. It just isn't needed for taxis and a restaurant meal. However, we're going on a cruise to Canada in October, and we will visit 4 Canadian ports. THEN I will be sure to have Canadian currency.

Many credit cards now charge a 3% foreign currency exchange "tax".

There are two fees, one from the bank issuing the CC, the other from Visa, Mastercard, etc. Capital One does not charge a fee, and rebates Visa's fee so the bottom line is zero. There's a website (bankrate.com IIRC) where you can find cards with 0-1% foreign transaction fees.

I was most concerned about the taxi from the port. I think I may contact my local bank and find out if they can procure some canadian money for me in advance of the trip.

I was most concerned about the taxi from the port. I think I may contact my local bank and find out if they can procure some canadian money for me in advance of the trip.

Taxis take credit cards. You'll pay more getting foreign currency from your bank ahead of time than you will in ATM transaction fees or credit card conversion fees - especially for the small amount you would be getting for 1 day pre-cruise (or post-cruise).

Not accepting foreign coins is not surprising. But an ATM card should work most anywhere in the world. If a debit card has a Visa logo - it should also be accepted anywhere Visa is accepted. If not - I wouldn't patronize that business.

 

I don't intend to get any Canadian currency for our 1 night in Vancouver pre-cruise in July. It just isn't needed for taxis and a restaurant meal. However, we're going on a cruise to Canada in October, and we will visit 4 Canadian ports. THEN I will be sure to have Canadian currency.

Not all restauants accept credit cards. The woman I posted about who attended the same meeting was refused service in a restaurant because she had no Canadian money at all.

You don't have to patronize a business that has an ATM machine that will only take Canadian cards. That's your business.

I'm home from Canada now less than a week. The all mightly American dollar is not as welcome as some people assume it is.

There are two fees, one from the bank issuing the CC, the other from Visa, Mastercard, etc. Capital One does not charge a fee, and rebates Visa's fee so the bottom line is zero. There's a website (bankrate.com IIRC) where you can find cards with 0-1% foreign transaction fees.

Thanks for the website. It was very helpful. Here is the direct link to the comparison page.

http://www.bankrate.com/brm/news/cc/20050624b1.asp

Not all restauants accept credit cards. The woman I posted about who attended the same meeting was refused service in a restaurant because she had no Canadian money at all.[/quote

 

I wasn't talking about businesses that don't take any credit cards. That should've been obvious to the woman when she entered the restaurant by the lack of credit card stickers on the door. But do Canadian businesses distinguish between a US Visa card and one issued by another country? If so, THAT is what I take issue with.

It would seem to me that if an ATM machine has the visa/mastercard logo on it you should be able to withdraw money no matter what the location.

It would seem to me that if an ATM machine has the visa/mastercard logo on it you should be able to withdraw money no matter what the location.

Yes, that's right. Anyway, you won't have any trouble at an ATM in Vancouver.

My ATM card works ONLY as an ATM card, and not also as a debit card. It should work in any ATM machine in the Cirrus or NYCE network.

I never use my ATM card as a debit card but it has a Visa symbol on it and is a debit card. Will that be a problem as long as I use it as an ATM card only? In past trips to Canada we didn't bother with getting Canadian money and had no problems using our credit card or US $. Our bank was going to charge us a ridiculous amount to get CDN money for us. We came out ahead just using our US $ with little or no adjustment by the retailer. Everyone accepted our cash, no problems.

I never use my ATM card as a debit card but it has a Visa symbol on it and is a debit card. Will that be a problem as long as I use it as an ATM card only? In past trips to Canada we didn't bother with getting Canadian money and had no problems using our credit card or US $. Our bank was going to charge us a ridiculous amount to get CDN money for us. We came out ahead just using our US $ with little or no adjustment by the retailer. Everyone accepted our cash, no problems.

I suspect it depends on how long ago it was, really. When we went to Toronto in 2003 & 2004, our US money was pretty well welcomed... but $1CDN = $.85USD. When we went in September, it was $1CDN = $1.03USD. We didn't try - we just got cash from an ATM once we crossed over the border (and, we decided at the time to get EXTRA since we know we'll be there only briefly this June, because we were afraid the USD would continue to sink).

My bank flat out told me the first time that we should just go to Canada and use our ATM card there to get cash. We get charged a 1% transaction fee and the actual conversion rate (so, for our $100CDN, it was $101 USD + $1 for the transaction fee).

Sarbar77, thanks for the information. We'll just wait until we get to Vancouver to get some Canadian $.

As of Friday the CDN and US dollar were within 1/2 cent of each other. On Thursday I was Victoria on the Golden Princess and let me assure you that the US dollar was quite acceptable as a form of payment. I have lived in Vancouver all my life and Vancouver's services and retailers have 99.7% of the time accepted the US dollar. However just don't expect any exchange and some may want to charge you 3 to 5 cents extra because that is what they pay at the bank to exhange it. That said most will accept it at par and eat any bank exchange fees. Any ATM card with Interac or Plus will be accepted by Canadian ATM machines for the purpose of obtaining CDN money, you will of course pay the normal service fees and exchange fees.

As of Friday the CDN and US dollar were within 1/2 cent of each other. On Thursday I was Victoria on the Golden Princess and let me assure you that the US dollar was quite acceptable as a form of payment. I have lived in Vancouver all my life and Vancouver's services and retailers have 99.7% of the time accepted the US dollar. However just don't expect any exchange and some may want to charge you 3 to 5 cents extra because that is what they pay at the bank to exhange it. That said most will accept it at par and eat any bank exchange fees. Any ATM card with Interac or Plus will be accepted by Canadian ATM machines for the purpose of obtaining CDN money, you will of course pay the normal service fees and exchange fees.

That was our exact experience last year in all the Canadian places we visited. It just wasn't a problem. EVERY place we went accepted our US dollars.