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Canadians getting US cash from ATM's

Winnipeg, Canada
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50 posts
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Canadians getting US cash from ATM's

Is this possible I wonder? RBC has US $ ATM's in Canada. Wondering if they partner with Nicaragua banks? If I withdraw Canadian cash do I pass hefty fees? How do most Canadians exchange money these days in Nicaragua? Traveler's Cheques at banks?

Grecia, Costa Rica
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916 posts
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1. Re: Canadians getting US cash from ATM's

First, skip the travelers cheques, not usually accepted anywhere, so bring a little US with you to tip at the airport, pay taxi, get snacks upon arrival. As to ATMs, I live in Costa Rica and frequently travel to Nicaragua, I have a CIBC debit card and most Nicaraguan banks (I like BAC) will accept my card and spit out US. I can then use the local exchange services to break the $$$s into cordobas, or I ask for cordobas in my change and only use the bank ATMs, the small store/pulperias that have machines are subject to fraud.

As to fees, well CIBC sucks as I pay $5.00 each time my card is used, I just accept the fact the Canadian banks are vampires. I couldn't exist any other way. RBC, TD, etc...they will all be the same, but ask someone at your branch what the charge would be and make sure they know you will be in Nicaragua or wherever for whatever period as they could block your card thinking some international thief is using it....high drama.

Have a great holiday,

Winnipeg, Canada
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50 posts
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2. Re: Canadians getting US cash from ATM's

How come you don't open up a bank account locally? Do you have to have residency for that? If its possible you could wire the money to yourself for about $20 and you could wire thousands at a time I think.

I wonder if Paypal could help this situation. You can open a Nicaraguan Paypal account but you'd still need a bank to send the money to.

Grecia, Costa Rica
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916 posts
15 reviews
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3. Re: Canadians getting US cash from ATM's

Yes, you need residency, as all banks are paranoid about money laundering. There is always an exception to the rule though, a friend who knows someone at the bank, but that can lead to more problems. Even with residency there are several hurdles to jump, it's just not worth the hassle, hence the reason I use my card and chalk the fees up to necessity.

PayPal?....some hotels will take it, it's becoming popular.

Winnipeg, Canada
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50 posts
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4. Re: Canadians getting US cash from ATM's

I meant Paypal to receive and send money to yourself. I have 2 Paypal accounts which I use to move money around between these 2 accounts which have different functions. But I wonder if I could open up a Paypal account in another country and send money there? But I'd still have to have a bank locally to send the money to. This would be a great business to get into perhaps if there is nobody doing something similar presently.

I wonder if anybody buys up US $ bills in bad condition (at a discount) upon leaving the country only to get full redemption for them upon arrival in the US?

5. Re: Canadians getting US cash from ATM's

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Removed on: 21 August 2013, 23:17