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Best place to exchange American & Canadian money? #4445027
06/29/17 02:15 PM
06/29/17 02:15 PM
Joined: Jun 2002
Posts: 12,882
The Motor City
Kestas Offline OP
Global Moderator
Kestas  Offline OP
Global Moderator

Joined: Jun 2002
Posts: 12,882
The Motor City
The published rate is $130 Canadian to $100 American. Anywhere I go I get $117 Canadian for my $100. I think that's a big hit. Where can I get the best rate?

Re: Best place to exchange American & Canadian money? [Re: Kestas] #4445031
06/29/17 02:19 PM
06/29/17 02:19 PM
Joined: Jul 2011
Posts: 1,224
Houston, TX
Coprolite Offline
Coprolite  Offline

Joined: Jul 2011
Posts: 1,224
Houston, TX
I am guessing that you are stuck with a lot of cash?

When I travel, I try to stick to credit cards. Otherwise, I use an ATM to withdraw local money and try to use it up. If I end up with too much, I deposit to my credit union. Are any of those options?

Re: Best place to exchange American & Canadian money? [Re: Kestas] #4445034
06/29/17 02:21 PM
06/29/17 02:21 PM
Joined: Feb 2007
Posts: 2,382
Chicago IL USA
scurvy Offline
scurvy  Offline

Joined: Feb 2007
Posts: 2,382
Chicago IL USA
I have had the best luck using local ATMs to get the best exchange rate.

If you're in Detroit, head to the Ambassador bridge, fill up with non-taxed fuel on your way over, have dinner at the casino and hit up a no-fee ATM before returning.


You are entitled to your own opinion but not your own facts.

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Re: Best place to exchange American & Canadian money? [Re: Kestas] #4445035
06/29/17 02:23 PM
06/29/17 02:23 PM
Joined: Sep 2008
Posts: 9,249
Ontario, Canada
IndyIan Offline
IndyIan  Offline

Joined: Sep 2008
Posts: 9,249
Ontario, Canada
Maybe check what your CC does for exchange? Pretty much every place a tourist would go accepts plastic with the exception of small road side food, fruit and veggie stands.


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Re: Best place to exchange American & Canadian money? [Re: Kestas] #4445042
06/29/17 02:33 PM
06/29/17 02:33 PM
Joined: Dec 2002
Posts: 42,625
New Jersey
JHZR2 Offline
Global Moderator
JHZR2  Offline
Global Moderator

Joined: Dec 2002
Posts: 42,625
New Jersey
I heard atms give the actual rate, while the bank's profit is instead built into the terminal fee.

I had good luck at a casino once.

Re: Best place to exchange American & Canadian money? [Re: Kestas] #4445074
06/29/17 03:05 PM
06/29/17 03:05 PM
Joined: Jun 2003
Posts: 10,692
Illinois
javacontour Offline
javacontour  Offline

Joined: Jun 2003
Posts: 10,692
Illinois
Some ATMs do. Also, some credit cards offer the official rate with no mark up. We had a Capital One card that did that for our trip to Italy 5 years ago. Each transaction was posted and converted at that day's rate with no mark up.

Don't know if that is still the case, but I'm sure there is a website on the order of "bob is the travel credit card guy" out there somewhere.


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Re: Best place to exchange American & Canadian money? [Re: Kestas] #4445092
06/29/17 03:24 PM
06/29/17 03:24 PM
Joined: Jul 2008
Posts: 1,218
British Columbia, Canada
ecotourist Online content
ecotourist  Online Content

Joined: Jul 2008
Posts: 1,218
British Columbia, Canada
The best plan is to avoid changing back and forth to the greatest extent possible. I generally keep any US$ left over after a trip for future trips. Likely $20 or so. I also pull any US coins out of change and keep them for future trips. It probably amounts to 1 or 2 dollars a year.

I have a US$ investment fund where US$ investments and US$ dividends stay in US$.

When we travel in the US we pay for whatever we can with a credit card and withdraw only small amounts of US$ cash from a banking machine.

It would probably be a good idea for a Canadian who does business in the US or who travels in the US a lot to have a US$ bank account and a US$ credit card. I've never looked into it.


2000 BMW 528i 5MT
2007 Honda Accord EX-L 4Door V6 6MT
Re: Best place to exchange American & Canadian money? [Re: scurvy] #4445103
06/29/17 03:39 PM
06/29/17 03:39 PM
Joined: Feb 2006
Posts: 2,695
Cincinnati
Chris Meutsch Offline
Chris Meutsch  Offline

Joined: Feb 2006
Posts: 2,695
Cincinnati
Originally Posted By: scurvy
I have had the best luck using local ATMs to get the best exchange rate.

If you're in Detroit, head to the Ambassador bridge, fill up with non-taxed fuel on your way over, have dinner at the casino and hit up a no-fee ATM before returning.


Exactly what I used to do. Always made it from Cincy to the gas pumps here on one tank and refilled cheaply.


2005 Honda CR-V EX, 270k
Re: Best place to exchange American & Canadian money? [Re: Kestas] #4445107
06/29/17 03:46 PM
06/29/17 03:46 PM
Joined: Nov 2008
Posts: 3,520
Oshawa, Ontario Canada
JC1 Offline
JC1  Offline

Joined: Nov 2008
Posts: 3,520
Oshawa, Ontario Canada
Are you coming to Canada? Try a bank on the Canadian side. You'll probably get the most for your us dollars. TD is open Saturdays and late Fridays. But they will be closed on Saturday july 1, that's a Canadian holiday.


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Re: Best place to exchange American & Canadian money? [Re: Kestas] #4445114
06/29/17 03:48 PM
06/29/17 03:48 PM
Joined: Mar 2006
Posts: 5,904
Buffalo, NY
Nickdfresh Offline
Nickdfresh  Offline

Joined: Mar 2006
Posts: 5,904
Buffalo, NY
If you want USD back, since you're on the border try a local casino or mall that caters to Canadian shoppers, they'll usually exchange at rate with little or no fees...

Yeah, checking Detroit, you should be able to get a free exchange at one of the casinos wherever the "cage" is for winner cashout...

Re: Best place to exchange American & Canadian money? [Re: Kestas] #4445205
06/29/17 05:29 PM
06/29/17 05:29 PM
Joined: Jun 2002
Posts: 12,882
The Motor City
Kestas Offline OP
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Kestas  Offline OP
Global Moderator

Joined: Jun 2002
Posts: 12,882
The Motor City
I'm basically looking for spending cash when I go to Canada. Plus, there were a few times I've gone to Canada to buy antiques where I can only use cash. A Canadian colleague of mine suggested using the Windsor train station, which gave the best rate according to him. I'll also have to give the ATMs a try.

Re: Best place to exchange American & Canadian money? [Re: Kestas] #4445406
06/29/17 09:25 PM
06/29/17 09:25 PM
Joined: Aug 2005
Posts: 7,264
Leamington, ON, Canada ..... r...
Papa Bear Offline
Papa Bear  Offline

Joined: Aug 2005
Posts: 7,264
Leamington, ON, Canada ..... r...
Do you come to Leamington, Kestas ??


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Re: Best place to exchange American & Canadian money? [Re: Kestas] #4446624
07/01/17 11:44 AM
07/01/17 11:44 AM
Joined: Jun 2002
Posts: 12,882
The Motor City
Kestas Offline OP
Global Moderator
Kestas  Offline OP
Global Moderator

Joined: Jun 2002
Posts: 12,882
The Motor City
I've been to Point Pelee a few times. I think I had dinner at Leamington once.

Re: Best place to exchange American & Canadian money? [Re: Kestas] #4446978
07/01/17 07:49 PM
07/01/17 07:49 PM
Joined: May 2006
Posts: 3,380
Windsor, Ontario, Canada
uc50ic4more Offline
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Joined: May 2006
Posts: 3,380
Windsor, Ontario, Canada
For what it's worth, all of us on the other side of the river use the VIA Rail train station for exchange.

Re: Best place to exchange American & Canadian money? [Re: Kestas] #4454950
07/10/17 06:33 AM
07/10/17 06:33 AM
Joined: Jun 2002
Posts: 12,882
The Motor City
Kestas Offline OP
Global Moderator
Kestas  Offline OP
Global Moderator

Joined: Jun 2002
Posts: 12,882
The Motor City
I found myself in Sarnia yesterday. Using the ATM, I got $127 CAN for $100 US. This is an excellent rate. This'll be the way to go. You can't beat the convenience.

I went to Via Rail, but everything seemed closed in the Sarnia station.

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