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Taxis are not all yellow, so look for the lit-up taxi light on top of any ordinary looking car. And of course you'll be driven by Montreal drivers, so hold on! Taxis can normally hold 4 passengers - 3 in the back, 1 in the front. Taxis can be hailed in the street or found at a taxi stand throughout downtown -- you take the first car at the stand, and you're not allowed to hail a cab within 60 meters (around half a block) of a stand.
Taxis all use meters, you don't negotiate, and there is no surcharge for evening service. As of January 28, 2012, fees are $3.45 to start, $1.7 per kilometre, and $0.63 for each minute stuck in traffic. There is a fixed price to travel from/to the airport and the downtown core of $40, and a minimum of $17 when leaving the airport for other destinations. It is standard practice to tip a taxi driver anywhere from 10%-20%
You can phone for a cab, too, but you'll have to give an address and name — if you are outside, simply look for the number of a building and stand in the doorway; if you manage to hail a taxi before yours comes, it would be polite to phone back and cancel. Try: Taxi Diamond (514-273-6331), Taxi Co-op (514-725-9885), Taxi Hochelaga (514-256-9033), Taxi Champlain (514-273-2435), and Taxi Turcot (514-825-8743). A complete list can be found on http://www.canada411.ca/.
You can also reserve a taxi in advance.
In addition to cabs, limousines are available for travelling in style (at the airport or by phoning in advance), normally for around $50 one way to/from the airport. Fares for limo transportation from the airport to other destinations in the province are available here .
Montréal has around 450 special taxis for handicapped persons -- 2 automatic wheelchairs can fit into 1 mini van taxi. Rates are the same as for regular taxis, and this service is available 24/7, 365 days a year. For a list of companies that offer this service visit the portal of taxi drivers in Québec : Montreal Taxi adapté list. This site gives you the companies which offer the most reliable service for handicap transport.
A safety note for taking cabs/taxis ANYWHERE not just Montreal: for travelers and people in their home cities. Be observant; make note of the taxi company, the number of the cab and/or number and/or name of the driver (especially at night). Usually this is to recover lost items or report bad service. There was an incident where a driver refused credit card payment; and subsequently stole from a passenger. While this is extremely rare; because the passenger had no information to give police or the taxi association no followup could be done.