US Can Currency Question

[FergusFurmann]

Hello,

I will be traveling to Toronto next week and I'm wondering about how much Canadian currency I should get for a couple of days.

1. Can I pay most of my bills in US Dollars? Especially the ladies?

2. Are there exchange bureaus at the Niagara Falls/Buffalo crossings? What about in and about Toronto.

3. I will be using some plastic but I'll also be carrying some cash for personal expenses.

Thanks for any information or suggestions you can offer.

ff

 

[anon1]

There are very strict currency controls in Canada.
It's a criminal offense to have on your person anything but Canadian money.
100 US $ = 1 CDN $
Our dollar is marked Canadian Tire Money, with a picture of our leader John A. McDonald in a Scottish kilt and tam.
We here at TERB offer a special service to our American brothern. We will exchange your ILLEGAL money for LEGAL CANADIAN TENDER.
As the Official Terb Minister of Finance, I will personally meet you at the border or airport and conduct this transaction AT NO COST TO YOU.
The only stipulation is that you tell no one and exchange a minimum of $10,000 US.
Let me know!

 

[someone]

Hello,

I will be traveling to Toronto next week and I'm wondering about how much Canadian currency I should get for a couple of days.

1. Can I pay most of my bills in US Dollars? Especially the ladies?

Given that the U.S. dollar is worth more, I can't see many refusing it (except perhaps for small transactions). However, I would not expect a good conversion rate. Many years ago when I drove a taxi I would accept U.S. dollars on a one-for-one rate with Canadian dollars (and of course give change in Canadian dollars). The way I looked at it, I was not running an exchange business and it was a hassle for me to get it exchanged.

2. Are there exchange bureaus at the Niagara Falls/Buffalo crossings? What about in and about Toronto.

Yes, there are plenty in Toronto. Also, most banks will exchange U.S. for Canadian dollars.

 

[BiggieE]

There are exchange booths at the Rainbow Bridge and Queenston/Lewiston Bridge. I'm not sure about the Peace Bridge since I've never crossed there....

 

[tadhg]

1. Can I pay most of my bills in US Dollars? Especially the ladies?

Most companies, hotels, stores etc. will take US currency, however the rate of exchange will vary depending on the particular establishments policies. At the very worst they'll accept it on a one to one basis. As for the ladies, I many of the agencies (and some independents) websites list donations in both Canadian and US dollars.

2. Are there exchange bureaus at the Niagara Falls/Buffalo crossings? What about in and about Toronto.

There are exchange places at the border, as well as in Toronto. However, your best (imho) would be to try a bank if you're going to be using a lot of courency.

3. I will be using some plastic but I'll also be carrying some cash for personal expenses.
ff

Using your credit card/ATM card is probably the best idea. They'll likely offer you the best exchange rate, though your cards might have service fees to contend with.

The current exchange rate (from globeinvestor.com) is 1USD=1.22CAD, so it doesn't look like you're going to get a great rate (compared to a few years ago) on your money.

Anyway, I hope you enjoy you time in TO, it's a great city.

 

[fuji]

You can use your US bank card (ie: debit card) to pay most bills in Canada. Acceptance of debit cards is more common and widespread than it is in the US. You can also walk up to any ATM and withdraw Canadian cash. As others have said, credit cards will work too, but they often give you a lousy exchange rate. You can get a better rate than the ATM will give you, but unless you are spending several thousand dollars it's probably not worth the hassle.

 

[WhOiSyOdAdDy?]

I have found that credit cards and atms give the best exchange rate

 

[baltimoron]

Careful with Credit/Debit Cards!!!

Some banks charge an extra percentage for credit/debit card transactions in a foreign country.

This will show up as a separate transaction on your statement, equal to some percentage of the original transaction.

Cash is king, so the best bang for your buck, is to get cash from a Canadian ATM (for food, SPs, tips, etc.)

Even better, use a foreign ATM for which you know you will not have to pay an ATM fee. My bank has agreements in place with banks from Canada, Australia, and major European countries. As long as I use ATMs from those selected banks in those countries, there's no fee whatsoever.

Use your credit/debit card only when you have to (i.e. hotel).

 

[funguy07]

There are exchange booths at the Rainbow Bridge and Queenston/Lewiston Bridge. I'm not sure about the Peace Bridge since I've never crossed there....

YOu can exchange at a booth just past Peace Bridge customs as well, and it is jusst past the customs booth as you enter canada.

 

[goldfinger]

There are also stores that deal in cashing checks and exchanging currancy.

Moneymart , payday loans and there are others all over Toronto and the surounding citys. Use your own bank at home first and buy Canadian Currancy there as you will mostlikly get the best rate there.

 

[goodtime]

Time for a little T.O.

Non-chain stores not likely to accept USD as too many counterfeits.

Credit cards are giving slightly better rates than bank cards @ ATM. HSBC and B of A have no service fee withdraw @ ATM.

I get frequent U.S. visitors and I visit U.S. often, so we exchange privately and avoid the exchange hassle.

For GST refund, I could be wrong but think it may be $200 CDN/spending? You can pick up brochures @ Duty free stores whether driving or flying.

P.S.: CDN alcohol are higher %, if you are driving.

 

[baltimoron]

BoA

B of A have no service fee withdraw @ ATM.

That'd be nice, but unfortunately, if your account is with B of A and you're in Canada, you can only use Scotia Bank ATMs for free.

Use any other Canadian bank's ATM (e.g. CIBC), and you get slammed with a pesky $5 international ATM fee.

http://bankofamerica.via.infonow.net/locator/atmbranch/

 

[daszear]

calforex

i swear by it, i always get pretty close to the real exchange rate within 2 cents alot better than you will get at your hotel or the duty free

calforex

Suite 104, 170 Bloor Street West
(Corner of Avenue & Bloor)

 

[Gyaos]

USD to CAD Currency Exchange

To FergusFurmann:

Okay, I'll answer these questions.

>>>I will be traveling to Toronto next week and I'm wondering about
>>>how much Canadian currency I should get for a couple of days.

When I go to MPs, I usually try and have $600 CAD in my pocket for a 2 day affair for all in (food, gas, etc.). If I'm having a kinky SP session, I'll have much more.

>>>1. Can I pay most of my bills in US Dollars? Especially the ladies?

Usually they take them, more so when the USD is strong as they usually do a 1.40 CAD - $1.00 USD ratio, even when the USD was $1.60 CAD. Today, the USD is a disgusting $1.21 ratio, so I can understand not to take USD.

>>>2. Are there exchange bureaus at the Niagara Falls/Buffalo crossings?
>>>What about in and about Toronto.

What I do is Yahoo: "Currency Exchange (and the city)" and see what pops up for rates and locations. I don't go to Niagara Falls, but I can speak for Buffalo. Any currency exchange inside the USA is a guarenteed ripoff of $100 US per $1000 US. Never do currency exchange in the USA. There should be a US Federal investigation on US Banks and currency exchange transactions. It's gauging.

As for TORONTO, I recommend "The Coin & Currency Exchange" located at 1100 Burnhamthorpe Rd. W. Unit 14, Mississauga. They provide a difference of 1 Canadian Penny from the actual buy/sell ratio rate for any transaction. This is the same for British Pounds and Euros. And they take coins! If you have pounds in coins, they take them (well took mine). Always watchout for numerous transactions and try not to confuse the teller. Once I accidently got the US rate for British coins, but it was my fault for not noticing too soon.

I recommend this place for all currency transactions in Toronto. Plus good low cost Chinese resturants just down and across the street, one offers all you can eat for $4.00 CAD + tax buffet!

>>>3: I will be using some plastic but I'll also be carrying some cash for personal expenses.

You can, but expect a 2 - 3% US bank/credit card, illegal, foreign transaction fee on the market price of the exchange rate.

And a side note, best time to fill a car with gas in Toronto is before 10:30pm, isn't that right? The gas prices lower each hour of the day and at 10:30pm, they pop up to the highest level. Did I get that right? What's the secret?

 

[lh888]

Lexa girls and US$

A couple of years back, I tried to give US$ to pay for the services at Lexa. Both girls working there at the time didn't know what to do with it, and didn't want to take it, even at par.

...you never know...