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Discussion Starter #1
O.K., I just realized that I am going to be in Canada in a few days and have no idea what to do for cash. In Ontario along the North shore of Lake Superior, the towns appear small and I am wondering what to expect for being able to use credit cards? That is the prefered way as the card company exchanges at the correct rate, or so I've heard. My daughter told me that a lot of places just took US currency as payment at a 1 to 1 rate. So, where does one go about exchanging? Banks in towns that are near the border? What happens if I use my credit card in an ATM in Canada? Do I get Canadian cash and my credit card is billed at the exchange rate?
Help..... soon!
 

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When I use my card in a German of French ATM I get billed at the exchange rate, well a slightly fluffed exchange rate so the banks can make some money on the transaction.
 

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Canada US Exchange

Most stores and gas stations will usually give you a fair exchange probably @ .75us to the canadian $1.00, if anyone trys to give you 1 to 1 just tell them your no fool, I've never heard of anyone trying to rip off Americans by not giving a fair exchange we love the US $ :lol: , If you use your ATM card or Credit card you will get canadian dollars and the appropriate exchange rate will apply plus the banks service charge. If you have cash and want to exchange to canadian any bank will give you the daily posted rate. I'd keep a couple of hundred canadian for restaurants etc. and then use credit cards for the rest. It's even easier to use credit cards here than in the states, the last time I was in the US everytime I used a credit card I was asked for photo ID as well, that never happens here. Enjoy your trip it's very safe and friendly in Canada no guns, super low crime rate, watch out for moose on the highways around Superior :D
 

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Discussion Starter #4
Thanks for the replies, guys. I live in a town in Wisconsin that is about 1200 population and I have gotten used to credit card for everything, grocery, liquor store, gas.... there is only one place in town that won't take a credit card. I just didn't know what to expect in other places. I was recently in a town in Wisconsin that is on the Mississippi river and well traveled by tourists. One gas station took credit cards, no one else, not even a supper club. So things vary alot!!
Looking forward to the trip around the lake, and I'll watch for the moose....
 

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The wife is from Canada so we travel to Sask every now and again.

Use the CC for everything possible, you will get the best rate possible & then some. We spent around $120 in a Greek resturant up in Canada & when the CC came due after exchange we only owed $65 USD for the meal 8)

Gas will be much cheaper if you use you're CC also. Get ready to buy gas by the quart as that's how it's sold & not by the gallon. Last time we were up there Diesel (we took the truck) was around .59 a quart :shock:

Get cash at a bank, they do charge you a small fee but you will get a better exchange rate than if you just use American $$ and have the shop exchange it for you.

Right now the exchange rate is:
1 US Dollar = 1.29900 Canadian Dollar
1 Canadian Dollar (CAD) = 0.76982 US Dollar (USD)

Median price = 1.29850 / 1.29900 (bid/ask)
Minimum price = 1.29520 / 1.29590
Maximum price = 1.30080 / 1.30140

In effect the Canadian dollar is only worth .76 cents American so you will loose .24 cents on every dollar if you exchange one for one.
 

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Discussion Starter #6
We exchanged $100 US at Ryden's border store on the way through on Sunday. That gave us about $120 Canadian. After 5days in Canada, we still had about 40 Canadian. I think all gas stations and all restaurants took the CC.
What beautiful country along the North shore!!! I didn't realize just how rugged and wild it is up there. And then there was the Rickard's Nut Brown Ale........ Didn't want to come home.....
:D
 
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