Quote:
Originally Posted by Enoch Root
With multiple transactions, you're almost certainly going to pay the full spread. If you reduce it to one transaction, conversion can be more easily managed and a good rate achieved.
If you use a Canadian dollar credit card, each transaction will be converted from USD to CAD on your card at 2.5% per.
With a USD card, you only need to convert once, and you can shop for a currency exchange that is more favourable.
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2.5% on multiple small transactions is the same as 2.5% on one large transaction. There isn't much reason to use cash unless cc isn't accepted. And the 2.5% is a lot more than the minor variations in the CAD-USD over the course of a week or two. Again, if your're using a points card, then you can likely balance out those transaction fees entirely, than if all you did was take a lump sum out of an ATM or forex type place.