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Currency Exchange?


sheriefx
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^+1 to the above if you're looking to withdraw say $100+ CAD (or, if you have a FOREIGN-fee-free debit card, any amount). ATM exchange rates are always the best as they're the closest a consumer can get to interbank rates - but if you only need a few bucks for small purchases, an ATM fee seriously jacks up the total cost.

 

If you plan to pay for e.g. tours in cash, definitely hit an ATM - but if it's going to be credit cards all the way except for 'buck a bag' type tips, snacks, pop etc. then breaking a US$20 at the first store you see that accepts USD can end up having the lowest total cost of acquiring currency.

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My local bank delivered $ 1000 CAD to me for a cost of $ 875 USD. Felt like a bargain.

Through an ATM, that would have cost you a little under US$810 right now - plus possible ATM fees. About an 8% markup by your bank, which is frankly outrageous (a good local exchange bureau pads about 2.5%, similar to most credit cards, and even a bad one like those at airports tend to be closer to 5% than 10%).

 

 

Maybe there was an extra courier fee in there since you said 'delivered' but if that's in any way indicative of the competitiveness of your bank on other fees, mortgage rates etc. I'd be looking for a new one!

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Any tips on what to do with left over CAD ?

 

I was going to take out like $200 CAD for incidentals but I plan on using my CC for most of the purchases.

 

Use it up at the end - once you've established that you only needed X, simply spend it in preference to credit cards on your last Canadian stop. Changing back will incur fees - so if you have more than 'souvenir money' leftover it's more efficient to buy stuff with it than to swap it back even at a good exchange rate. Worst case, compare rates in your local area for banks.

 

We exchanged right on the ship. They were happy to do it and didn't charge a fee.

No fee - but a relatively poor, padded rate of exchange. For small amounts totally worthwhile since spending more than a few minutes of your time will outweigh the padding, but in my experience the rates offered at the front desk are at least as bad as the rates in stores that accept multiple currencies, and beaten by any currency exchange office.

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We exchanged right on the ship. They were happy to do it and didn't charge a fee.

This is the easiest way to get it...the night before getting into a foreign port where local currency will be needed....we usually only need a bit of walking around money...such a small conversion rate makes it well worth it...I prefer to not have to look for an ATM and hope nothing goes wrong when using it in a foreign location...JMHO

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The advice in this thread is all good, but my advice is don't worry about it too much. :) As a Canadian who's lived in the US for the last 25 years I visit Canada fairly regularly and never exchange money anywhere. On weekend trips it's credit cards almost everywhere and $20 sometimes for small purchases, use the change for parking or the next small purchase. Ask politely if US money is OK just for the courtesy of it. I don't recall ever being told no. Usually I withdraw some CDN from an ATM after a few days but I've gone a whole week without getting around to it. Never a problem.

The less than perfect exchange change rate on the USD isn't worth worrying about for tiny cash purchases. Credit card and ATM rates can't be beat.

 

 

It's easier to let Canadians assume I'm a native born American than explain where I grew up. Hopefully I leave them with a positive experience of a US tourist :)

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We are renting a car for both Halifax and St. Martins...are there any highway tolls that would need Canadian coins?

Very sensible question - we've been caught out on a couple of US 'change only' highway exits in the past! Fortunately, toll roads in Canada are almost nonexistent. Part of the 104 has electronic tolling by license plate (although in a rental car that could incur SERIOUS admin fees on top of the toll) as well as toll booths that take cash - but unless you were driving rather than cruising between Halifax and St Martins I doubt you'll be impacted as it's well north of Truro.

 

Most likely it would be the Halifax harbour bridges that are of relevance. IIRC there's a $1 cash toll on both MacDonald and MacKay bridges - but it's been a few years since I was driving this neck of the woods, so hopefully Maryann or another local will confirm for you ASAP.

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Any tips on what to do with left over CAD ?

 

I was going to take out like $200 CAD for incidentals but I plan on using my CC for most of the purchases.

 

If you tip above the auto gratuities you could use CAD here too. I'm sure ship staff receive tips in several different currencies.

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This is the easiest way to get it...the night before getting into a foreign port where local currency will be needed....we usually only need a bit of walking around money...such a small conversion rate makes it well worth it...I prefer to not have to look for an ATM and hope nothing goes wrong when using it in a foreign location...JMHO

 

Do all cruise lines do this? We will be cruising with Princess. This does seem the easiest way to get $100 or so exchanged.

 

Pooh

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Any tips on what to do with left over CAD ?

 

I was going to take out like $200 CAD for incidentals but I plan on using my CC for most of the purchases.

 

We will exchange money next week on our cruise and then use any leftover on our trip to Vancouver in November. Anything after that we will give to our daughter who lives there. She always makes out when we visit.

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Do all cruise lines do this? We will be cruising with Princess. This does seem the easiest way to get $100 or so exchanged.

 

Pooh

Ask this on the PCL boards....I cruise RCI. But hopefully PCL does..It is actually the easiest way...at least it always has been for us especially when cruising Northern Europe and the Baltics where several currencies were needed.

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