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US Currency k to Use?

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California
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US Currency k to Use?

Is US currency ok to use or do i need to exchange it to Canadian? We go to Mexico 3-4 times a year and they widely accept US currency. If we do need to exchange, where is the best place to do that?

Thanks

Vancouver, B.C.
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1. Re: US Currency k to Use?

Yes most places will accept US currency though the rate they give probably won't be very good. A good place to change it is at VBCE or any bank.

http://www.vbce.ca/

West Grey, Ontario
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for Toronto
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2. Re: US Currency k to Use?

Hi Cabo_nut;

To be respectful to your host country, when in Rome...

Many businesses will accept American currency as a courtesy to American tourists. Businesses that choose to accept US dollars set their own exchange rate, so you may find the rate different from store to store, and the rate will NOT be in your favour. You will receive your change in Canadian funds. Coins, as a general rule, are accepted at face value…at par.

Automated equipment, i.e. vending machines, public transit machines, parking meters, etc - basically anything where you insert coins / bills... will only accept Canadian currency.

Most places will take credit cards, however there may be fees over and above the exchange rate charged by the credit card issuer. Some credit cards have a Foreign Usage Fee tacked on for usage outside of the issuing country. Check with your card issuer for exact details.

You could always use your bank card to withdraw money from an ATM. Check with your bank to find which Canadian banks they have an agreement with and then utilize that Canadian bank’s ATM for the fewest / cheapest fees & surcharges.

For some money saving tips, have a look at the traveller article “Canada – Banks & Money” here on TA.

tripadvisor.ca/Travel-g153339-s601/Canada:Ba…

Best Regards

California
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3. Re: US Currency k to Use?

Thanks for the information

Nanaimo, Canada
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for Nanaimo, Vancouver Island
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4. Re: US Currency k to Use?

Hi Cabo_nut,

This can be an emotionally charged issue on this forum and many other Canadian forums. It mainly revolves around sovereignty. My best advice to you is to exchange your money upon arrival, as Techboy recommends, at a bank or Vancouver Bullion. $USD is accepted in many shops but as RescueTeam notes, the rates are generally not in your favour. Save yourself grief and exchange your money or use a credit card.

Enjoy your visit to Vancouver and British Columbia!

Toronto, Canada
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5. Re: US Currency k to Use?

Thanks for asking about this. Many Canadian merchants will take US dollars -- the rate is set by the individual merchant and will vary from very good (for a merchant who's essentially giving US visitors an extra discount) to very poor (for a merchant who's happy to take advantage of people unfamiliar with exchanging money). In all cases you'd get any change in Canadian currency.

But aside from the deal you get, spending US cash at stores and restaurants in Canada may be perceived as disrespectful by some people you encounter. Unlike some developing countries where US dollars can be preferred to local currency, here there's no advantage to receiving US cash and you're adding an extra hassle for the merchant who has to track US currency separately, and ultimately pay to exchange it. That's why most on this forum will encourage you to get and use Canadian cash as a gesture of respect when visiting a foreign country with its own currency.

Nanaimo, Canada
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6. Re: US Currency k to Use?

Very well said mattinTO!

California
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7. Re: US Currency k to Use?

Thanks Dave, we are looking forward to our trip. We are looking forward to our trip. Does anyone know if there is a Scotia bank close to the Sutton place downtown? They are partners with our bank, Bank of America and charge no fees.

Thanks

Vancouver, Canada
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8. Re: US Currency k to Use?

970 Burrard Str at Nelson Str.

510 Burrard Str

1205 Robson at Bute Str. which is open Saturdays.

Plus a few others in Chinatown, Coal Harbour etc.

Scotia Bank machines are also scattered around town.

Nanaimo, Canada
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for Nanaimo, Vancouver Island
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9. Re: US Currency k to Use?

Good to know about the BOA and Scotia Bank relationship for future posters. Thanks Cabo_nut for that!

California
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10. Re: US Currency k to Use?

Thanks for all the help and insight guys!