Dumb Question About Canadian Currency

[cmyers]

We are arriving and departing from Vancover B.C. Question is -Do they except american currency ? Do they give you change back in Canadian currency ? - or do we need to exchange our american dollars ahead of time??????

[Yukon]

You should have some Canuck Bucks with you, but you can get it at an ATM when you arrive. Most places accept US cash but may not give a decent exchange rate, and will almost always give Canadian money in change. You're better off to pay for most things with a credit card to get good exchange rates.

 

Murray

[jrask]

We found most places all too happy to accept US currency on a 1-to-1 ratio. A few places actually converted it according to the actual exchange rate, but gave change in Canadian.

 

We decided to use credit cards for cabs and restaurants. To avoid the hassle of exchange, we had small denominations of US currency for tips (hotel and cruise luggage) and otherwise only used US where the item's cost was deminis (ie. postcards)

[TJ O'Pootertoot]

Um, jrask, you were surprised they took your $US at 1-1? That means they were making about 30% on everything you bought!

 

Yukon said it right - you'll get taken on the exchange rate if you have nothing but $US. Get some $CDN at your bank or other decent place. Anything "big" you should put on a credit card.

 

I gather it's getting more prevalent in the USA nowadays but wasn't last time I there - in Canada most stores have "Interac" which allows you to use your ATM cards for purchases. You just swipe it and put in your PIN and the money comes out of your account - this is also a better exchange.

 

Using $US should be a last resort - unless you just want to be generous. No one will refuse your American cash!

 

TJ

[baseballmom]

Hi Cmeyers -- That was NOT a dumb question. I was wondering the same thing! :o

However, THIS might be a dumber question: Is there a place at the Vancouver airport to exchange any Canadian money we don't spend? We'll only be in beautiful Vancouver for a day prior to our cruise. Based on the comments above (Thanks, Yukon and TJ) I'll plan on getting a small amount of $$ prior to our trip ($50 or so should be enough) and then use my credit or debit cards for purchases.

 

Thanks everyone.

 

Laurie

[Cruise Junky]

There's a currency exchange place at the airport. There's also a couple downtown. And I'd be happy to take them off your hands :)

[grouchy]

over 1 million people! Tons of banks and places to exchange money.

[jrask]

TJ,

 

No I wasn't surprised. Just meant that this was standard operating procedure and that those profitting from it were pleased with the situation.

[baseballmom]

Grouchy, I know, I know...I'm already stressing over the dumbest things! I'm still trying to figure out how we can spend at least one full day in Vancouver! My brother lived there many moons (and one marriage) ago and I can't wait to see this fabulous city even if it is just for an afternoon and evening!

 

Laurie

[grouchy]

as you want! We will try and help.

[Urban trekker]

Grouchy - the population of the Greater Vancouver area is now over2 million strong and growing - we do want to keep our visitors up to date with the correct information

 

Have a good evening everyone

 

Dennis

[cmyers]

So to understand this correctly - cab drivers will take a credit card?? We are arriving at Vancover airport but will be taking a cab to Canada Place where the ship docks.

[Krazy Kruizers]

Yes the cab drivers will take credit cards - but you must make certain that you get a cab that is equiped to do that. You don't want to get into a cab and then suddenly find that he can't accept credit cards.

[gunner22a]

My first choice would be an ATM. You will get the current bank exchange rate charged by your bank plus a charge of about $1.50 Cdn for using a machine not from your bank. If you pay in US dollars don't expect the rate to be as good and you will get Cdn money back. If you are there during banking hours any Cdn bank will exchange your money. Of note is the fact that banks have two exchange rates. One for cash and one for things like travellers cheques. The difference isn't huge but you get a better exchange rate on travellers cheques because the bank doesn't have the hassle of dealing with the currency. The travellers cheques are just electronically entered into the North American wide cheque clearing system and it's done. US currency must be forwarded to the Central Bank of Canada who in turn give the local bank a credit in Cdn. Don't go to any of the instant cash places or the currency exchange kiosks that you find at airports and alike. Along with a much poorer rate you will also be charged a service charge that may or may not increase in size with the amount converted. The banks are regulated in what they can charge and the exchange rates are set by the Bank of Canada daily, not the local guy behind the glass.

[jrask]

All of the cabs we took accepted credit cards. They had signs asking you to mention that you would be using a credit card before the driver got underway. This allowed the driver to start filling out his paperwork while stopped at red lights.

[travelingman]

If you feel you need some Canadian currency after you arrive at the airport then you should use the ATM machine.

If you can wait until you get to a bank you will get a better rate than at the exchange windows at the airport.

 

For Canadian currency left over I always apply it toward my hotel bill minus whatever I think I might need to get to the airport and buy a snack/water at the airport.

This will keep you from having to pay an exchange rate both ways. Any balance left over after the cash application can then be charged to the credit card.

 

This is the best method to use whatever country you might be in.

 

Stan

[grouchy]

a currency exchange-tons around the downtown area.You will be charged a fee if you use your credit card.