How/Where's the best place to do this? My local bank didn't have a good answer for me. We're heading to the Icefields next week and will need some Canadian dollars. I know there are places near some border crossings, but I don't want to get there and find out that particular crossing doesn't have one or that there's a $50 service fee for every $100 you exchange.

If you have an AAA membership, you can get travelers checks in whatever currency you want for free and when I did it (Canadian dollars to Euros) the rate they gave me was either the same as the exchange rate or if not really close.

Just go to any bank once your in Canada. Banks in Canada are happy to handle currency exchanges, and have very reasonable rates, basically there are two rates for US dollars, a buy rate and a sell rate, if your selling US dollars you typically do a little better then if your buying US dollars.

Go ahead and use travelers checks if you want to be thought of as a pain in the arse by all of the places you visit.

Go to a bank if you want to be robbed.

The best thing to do is to find a bank that does not charge any fees for ATM use, then use an ATM when you get there. Also find a credit card company that charges 0-3% exchange fee.


Credit Unions in the U.S. do not usually charge for ATM usage or foreign exchange on their credit card. Some don't charge for exchange to currency.

Your local bank didn't have an answer for you??? Find a new bank!!

When I travel to other countries, I go to my local bank and ask them for a certain amount of money in the currency I need ... and they sell it to me right then and there. Once I'm in the country and I discover I need more money, I go to the local ATM and withdraw it with my debit card. Very simple and easy.

And as for travellers cheques ... you might be able to get them, but don't expect to be able to use them here in Canada. Even us Canadians can't use Canadian travellers cheques. They are so incredibly old-fashioned that anyone under the age of 30 won't recognize what they are and will refuse them. The last time I used travellers cheques was in the late 1980s, and even then I had them refused.

Cash, debit cards, and credit cards are the way to go.

Banks not being able to do currency exchanges is quite typical in the US, even some of the tourist areas may have only one or two banks in a city that can do exchanges. Here in Canada, you can exchange just about any currency for any other currency, and the bank will not ask questions, providing they have the currency your exchanging to, in the appropriate denominations. For the OP swapping (I assume) US dollars for Canadian, getting our bank to do it, is probably easiest.

Interesting ... I guess I've been taking Canadian banks for granted!

Yeah, I've had no trouble at all getting whatever currency I wanted. Only once has there been a bit of a delay ... whatever it was I was asking for was more than the bank had on hand of that particular currency. They ordered it and I had to return about 3 days later to pick it up.

The exchange rate is always the going rate at the moment (give or take 15 minutes or less ... my teller told me the other day that they update their rates every 15 minutes), and there's usually about a $6 fee for the exchange.

You're probably right that it would be easier for the OP to bring the money here. Even some shops near the border will accept US dollars.

I've gone overseas several times since I got an ATM card. Good at every ATM I found in Europe and Central America. Excellent rate. Just stop when you go across the Border and get what you need.

Don't forget to tell the bank / credit card company that you will be traveling or your account may be locked out.

+1!!

I've used mine all over Canada (of course), Australia, England, France, and the US. (Oddly, though, being able to pay by debit card in stores in the US isn't as common as it is in other countries ... not sure why.)

Just a couple additional comments to the OP (or others who are travelling to other countries) ...

I don't know how helpful your bank will be with regard to all this (ask them!!), but when you get your debit card, if you flip it over you'll see a variety of symbols. One will be three triangles and the word PLUS. Another will be Interac with a hand holding a card. If your card has either of those symbols (but especially the PLUS one), you will likely be able to use the card just about anywhere. ATMs will have either of those symbols (and possibly some others) on them. If the symbols on your card match the symbols on the ATM machine, you're in business!

Also, if you opt to use a credit card, go into your bank, sit down with someone there who handles the credit card info, and tell them, generally, about your travel plans. Let them know that it will be OK if there are purchases made in Canada (or whatever other countries you are going to) between this date and that date.

I have done that before all my trips. That way your credit card company (or your bank) won't get excited if there are suddenly several purchases made in a country you've never been to before, and won't cancel your card on you. That way too ... if (heaven forbid) it happens that your card gets stolen and the thief continues to make purchases on your card in the country you visited after you're back, your credit card company (or your bank) will get excited and will cancel the card.

It's good to get your bank on your side.

- Usual ATM card at ATM
- Credit card at ATM
- Cash Passport or other ATM-only or general-use debit card

Careful where you use your credit card - ATMs are fine, I imagine Canada is fine, but some countries are not safe to use credit cards in.

Don't buy travellers cheques, they are not as convenient as ATMs and are usually more expensive. (although I have some left over Euro ones that I carry for emergencies).