Has anyone exchanged currency yet this year ? If so,where at and what % did you get ?
Does Canadian Tire Money confuse the Americans?
I remember years ago a guy working for us was all confused at CT Money.
here is a rough idea
http://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=CAD
Yoday my bank 1.263100 Go Pens Go
Did some a couple days ago. I got around 1.26 cash rate at Scotiabank.
Our trip is getting closer and we are trying to make decisions on where to exchange currency. We are coming into Canada via the 1000 island bridge. Looked at AAA but looks like they give a rather poor rate. Was wondering if anyone could provide us some advice on this matter? Are we better doing it at duty free shop ? or ? Thanks for any advice you could provide on this . Ziggy
If your bank has a branch in Ontario/Quebec, you can likely arrange to have your exchanged cash ready to pick up at a local branch.
Otherwise, just go to one of the major banks on your route if you can. You will probably get charged a fee. It might be a flat rate, so exchange what you all need in a single transaction.
The major banks are:
Toronto Dominion (TD Canada Trust)
Scotiabank (Bank of Nova Scotia)
Bank of Montreal (BMO)
Royal Bank of Canada (RBC)
Canadian Imperial Bank of Commerce (CIBC)
HSBC Canada
The cheapest place to exchange money is at the bank in Temiscaming. Last year we changed money and they only charged $3 total for 2 of at the same time.
Unluckily for us, they're already closed by the time our group gets there. But it is good info if we could get there during their business hours.
I'm sure others will appreciate the information.
A friend just told me they exchanged their money at Envoy International in Fort Erie, if you cross the Peace Bridge it's only 5 minutes way at 427 Garrison Rd. I called them (1-800-755-5614) this am and the rate is currently 26% and they accept personal checks up to $10,000. Hours of operation are M-F 8-7 and Sat/Sun 9-4.
I have just exchanged money at the Duty Free the last several years, it's simple, they give the current rates and I don't have to worry about it ahead of time. I guess the little amount I change doesn't make that much of a difference either way, if I changed 10K a few cents here or there would make more of a difference. They are open all hours I have ever been in there, and I have never had to wait long, plus if you want you can get some good sales on beer or liquor... just my 2 cents
Brad
We do the duty free every year.
Primarily for the same reasons 600 miles does.
Don't waste your money at the Duty Free, exchange it at the bank in Temisqaming it only cost $3 for the whole group it's fast and painless.
I went across the 1000 islands July 8th this year and stopped at Duty Free. Quoted exchange rate on the currency converter you see on WEB was running at "$129.00 + to $130.00 Canadian per $100.00 US"... The Duty Free was giving a bit over $118.00......it is not the place to get the best bang for the buck....but it's convenient,...if you have time to get to a Canadian bank, it would be worth it.
I want to try to make this a bit clearer as far as exchange rate...you never get the QUOTED rate that you see published each day. I think that is between bank to bank transactions etc...Basically, if you were to go to a Canadian bank, you would get about 4% less than QUOTE.....the Duty Free is taking about 8%..
Todays rate is running about $132.00......bank will give you $126.00ish......Duty Free will give you $121.00ish
You can also use an ATM at a trusted establishment (grocery store). The ATM fee is probably cheaper than the currency exchange fee and if your bank waives ATM fee (like PNC on some accounts), it's even cheaper. Also depends how much you are exchanging. I think $200 is the max. I also try to use my credit card as much as possible without foreign transaction fees.
BH is right about the credit card, you always get the current exchange rate and is not a bad way to go as long as where you are going takes credit cards. Last I checked the store in Laniel still doesn't take credit cards. But most gas stations along the way will.
Brad
The store in Laniel will take Visa, but not Amex.
Bob
Thanks Bob, that is good to know... they have not always taken credit cards...
Brad