Canadian to American Exchange

[Starfishy]

Does anyone have good insight into the best method for exchanging CAD to USD. Should I get it before I go? While I am down there? At a bank? Exchange at the airport? I'm sure some of you that go frequently know the best places for getting the best exchange possible.

[scotty2hotty]

Unless you're talking thousands of $ ... just use your ATM and credit cards. Take out a few hundred bucks at a time as needed. Yeah, you'll pay an extra 1-2 $ at the ATM, but a lot better than carrying thousands and a lot easier than traveler's cheques.

The exchange rate changes multiple times throughout the day. You'll drive yourself crazy trying to nickel and dime it. (Again, unless we're talking big bucks here)

[drewboy12]

Ya its pretty much even now a days. Major bank atms usually don't have a huge fee. If its not a huge amount and you just need cash, do it at your bank, and avoid the fee charged by exchange booths or companies.

[squiggs96]

If you pay by VISA, you are going to pay 2.5 points above the rate. If you charge $1,000 USD at 1.02, you will be charged $1,045 CAD. In Vancouver use the Bullion Exchange. vbce.ca is their website. It's by far the best rate. I use NBC for my banking and the Bullion Exchange was about 4 points lower. What I've done is get a USD credit card at TD CanadaTrust and I buy USD when the rates are low, like now and keep it in my USD account. That way I always know my exchange rate/external value and I can buy large amounts during these times. When I go to the States, about once a month, I pay for everything with my VISA and bring only about $200 cash.

[drewboy12]

I kinda have the same as above. I opened up a US dollars account with BMO. Its free, so when the exchange rate is low I just transfer funds into the USD account. Only bad thing is, you cant use the us account on your debt card at a machine, you have to withdraw it from a bank, which can be a hassle.