Money Exchange

[DLaHaye]

I'm considering purchasing Canadian $$ before leaving. I live in New Orleans and I work @ the airport. The exchange will not cost a fee and they will buy back at the same rate. My questions to all of you financial gurus and other people in the know, what is the advantange other than the obvious which is paying for services without having to try and understand the exchange rate and avoiding possibly getting ripped off in the exchange?

[bruce-r]

It will depend on what exchange rate you can get at the airport compared to what you might get later in Canada. The exchange rate could change in your favor, or it could go the other way.

 

In the past I have just used my credit cards. The exchange rate thru them is as good as you can get at the time of transaction. Some cards do charge a fee so if you could exchange at the airport fee-free, you might come out ahead.

[Krazy Kruizers]

If you are going to spend a couple of days in Canada either before or after your Alaskan cruise, then you should change some money - for postcards - little items.

But if you are only going to be there for a day - just use a charge card.

[Mabers]

I'm considering purchasing Canadian $$ before leaving. I live in New Orleans and I work @ the airport. The exchange will not cost a fee and they will buy back at the same rate. My questions to all of you financial gurus and other people in the know, what is the advantange other than the obvious which is paying for services without having to try and understand the exchange rate and avoiding possibly getting ripped off in the exchange?

 

I change money a lot, but going in the opposite direction, and at least from this end, doing it at the bank (in your case in the U.S.) is the cheapest way. It has been my experience that credit card companies always charge more. I just checked Bloomberg and selling U.S. $$ for canadian is listed at 1.205 (market).....a bank will prob'ly only give you around around 1.18. But hey.....that's better than buying U.S. $$ with Canadian money. Today every $ would cost me app. 1.23! At least that's better than a couple of years ago when i was paying close to 1.60!!! Now THAT hurt!!!!!

 

Hope that helps.....

M.