Purchasing Canadian Currency - Escape Trailer Owners Community

Go Back   Escape Trailer Owners Community > Escape Me | General Topics > Paper Escape
Click Here to Login
Reply
 
Thread Tools Display Modes
 
Old 07-31-2018, 01:15 AM   #1
Senior Member
 
Join Date: Sep 2017
Location: Arcata, California
Trailer: 2011 Escape 17B
Posts: 210
Purchasing Canadian Currency

I searched and haven't found an answer to this....I'm headed to Canada in a few weeks. Where do you go (which banks?) to buy CAD? I need a pocket of cash before I head north.

Thank you in advance for your help.
__________________

Sherm2954 is offline   Reply With Quote
Old 07-31-2018, 01:43 AM   #2
Senior Member
 
gbaglo's Avatar
 
Join Date: Oct 2008
Location: North Vancouver, British Columbia
Trailer: 2009 Escape 17B - "Toad". '08 Toyota RAV4 V6
Posts: 13,781
If you have a relationship with a bank, you will likely get the best rate from your own bank. Otherwise, you would compare rates at currency exchanges near you.
Some credit cards offer advantageous rates ( and hopefully someone with experience will post ).

In any event, you don't have to use CAD in Canada. Most retailers will accept USD although you probably won't get the best rate that way.

It will be to your advantage to have as little CAD in your pocket as possible when you return to the US.


If you are talking a significant amount of money, you must declare if you possess more than $10,000 CAD. There is no penalty, unless you don't declare what you are carrying. A movie producer crossed the border with $400,000 for payroll, but he declared it, as required, so no problem.


If you do encounter a problem, you can just give it to me.
__________________

__________________
2009 Escape 17B "Toad"
2008 Toyota RAV4 V6 Sport
North Vancouver, British Columbia

What happens to the hole when the cheese is gone?
- Bertolt Brecht
gbaglo is online now   Reply With Quote
Old 07-31-2018, 01:53 AM   #3
Senior Member
 
akmacs's Avatar
 
Join Date: Jul 2016
Location: Anchorage, Alaska
Trailer: 2018 5.0 T/A "Escaper"
Posts: 153
We called around our hometown and found a bank that had some bills (they didn't have coins) and we exchanged USD for all the CAD they had (less than $500). We didn't search for any more as we could use ATMs also and eat the ATM fee. You probably know that US debit cards cannot get cash back at supermarkets, home centers, etc.. as in the US but we didn't our first trip

Be careful if you do use your ATM card in Canada, we also found out the hard way that not only did we have to pay the fee to the ATM owner, Wells Fargo also charged us $5 per use for the privilege of accessing our money in their bank. That hit us for $60 and cost them a customer for life. Our credit union does not charge a flat fee like that but do charge a foreign transaction fee.
akmacs is offline   Reply With Quote
Old 07-31-2018, 02:04 AM   #4
Senior Member
 
Join Date: Jan 2014
Location: North Van., British Columbia
Trailer: 2014 Escape 19, sold; 2019 Escape 21, Sept. 2019
Posts: 4,896
You don't really have to have any Canadian currency when you cross into Canada. Just go to the first bank you see and get some. Canadian banks are all used to converting one currency to the other. It's not the same as in the US where some Southern banks might not have much in Canadian currency.

You can use greenbacks in Canada but it does have a somewhat negative connotation in addition to the always poorer exchange rate.

Ron
Ron in BC is offline   Reply With Quote
Old 07-31-2018, 08:42 AM   #5
Member
 
Join Date: Sep 2015
Location: Little Rock, Arkansas
Trailer: 2016 Escape 19
Posts: 72
We're visiting Canada now. The first bank I went into seemed shocked that I would even ask since I was not a customer. Can't remember the name of the bank. Turns out that Scotia Bank is partnered in some way with Bank of America. We went to one of their branches and was able to use ATM.
Kingfish is offline   Reply With Quote
Old 07-31-2018, 08:53 AM   #6
Senior Member
 
Join Date: Feb 2017
Location: Mtns of NC, North Carolina
Trailer: 2013 19' Escape 1977 Trillium 1300
Posts: 261
I typically hit an ATM (watch the fees, check with your bank first). I then use my credit card for everything.

Before I leave Canada, (if I am thinking at the time), I count all the remaining money I have and fill up the gas tank. Yes, gas is more expensive in Canada than USA but left over currency is a PITA and any coins, even more so. Invariably, I mess up and have left over currency for the next trip.... I've got a bag full for the trip coming next week.
NCBill is offline   Reply With Quote
Old 07-31-2018, 09:03 AM   #7
Senior Member
 
Iowa Dave's Avatar
 
Join Date: Aug 2015
Location: Benton County, Iowa
Trailer: 2013 Escape 21 Classic Number 6, pulled by 2018 Toyota Highlander
Posts: 4,335
Canadian currency

The first couple times before we went to Canada after we got the Escape I called around locally and found banks with Canadian currency. The exchange rate included a fee for the transaction which amounted to a few percent. I still have some Canadian money that I take along now but usually I just use the Visa card I have. Their fee is very minimal and they recognize the exchange rate at the time the transaction is made. My advice would be not to go too nuts on loading up on Canadian cash unless you know you’ll be making transactions where credit cards can’t be used. We buy our fresh groceries and whiskey in Canada.
( redundant)
Iowa Dave
Iowa Dave is offline   Reply With Quote
Old 07-31-2018, 09:39 AM   #8
Senior Member
 
Join Date: Mar 2013
Location: North of Hertel, Wisconsin
Trailer: TBD
Posts: 2,148
I live in a small town of less than 800 people and I have no problem getting Canadian money from our local bank . I don’t care what exchange rate my local bank uses cause it’s still better than the one to one exchange rate we get in Canada . Remember not every business accepts credit cards , where we go fishing in Canada they deal in CASH !!
steve dunham is offline   Reply With Quote
Old 07-31-2018, 10:23 AM   #9
Senior Member
 
KarenH's Avatar
 
Join Date: Oct 2012
Location: Bellingham and Glacier, Washington
Trailer: 2013 Escape 15A
Posts: 1,981
Send a message via Skype™ to KarenH
Quote:
Originally Posted by NCBill View Post
...left over currency is a PITA and any coins, even more so...
What to do with left-over foreign coins?

Some years ago I had quite a pile of foreign coins left over from trips my late husband, my son, and I had taken. I decided to do something with them so I hot-glued them to a log pole at my cabin. They are grouped by country. It is a wonderful reminder of the great times we had. It is also somewhat of a museum of no-longer-available coins such as East German marks and individual European currencies.

My original plan had been to use my Dremel to make the coins flush with the wood but that would have added another twenty years to the project on top of the twenty it took me to do it.

Edited: Many credit cards, including Capital One and the Costco Visa, do not charge foreign transaction fees.
Attached Images
File Type: jpg Coin Pole.jpg (227.3 KB, 16 views)
__________________
Karen Hulford
2013 Escape 15A, "Egbert"
Ford 150 XLT 5.8L
Bellingham, Washington
KarenH is offline   Reply With Quote
Old 07-31-2018, 10:24 AM   #10
Senior Member
 
bouterse's Avatar
 
Join Date: Jul 2013
Location: Sarnia, Ontario
Trailer: 2015 Escape 19
Posts: 118
We buy our fresh groceries and whiskey in Canada.

Iowa Dave[/QUOTE]

Hi Dave
Just some trivia here. In Canada whiskey is spelled whisky. (See you at Niagara)

Jack
bouterse is offline   Reply With Quote
Old 07-31-2018, 11:08 AM   #11
Senior Member
 
Join Date: Aug 2017
Location: Moyie Springs, Idaho
Trailer: 2018 Escape 19
Posts: 143
Many US banks in towns near the border have Canadian currency on hand for exchange. I reside close to the border and routinely obtain Canadian currency from our local bank. I prefer to use Canadian currency while in Canada for two reasons - (1) convenience and (2) when I visit another country I believe it is my responsibility to use their currency and not presume that they will accept my US currency.



Also, I often use a credit card for fuel purchases. My credit card vendor does not charge a fee for international charges but some do. Also, as a US customer I often have to go in to sign for a credit purchase for fuel, my card rarely works at the pump when I am in Canada.
__________________
Keith & Lauren
2018 Escape 19
2019 RAM 1500 5.7L V8
New Adventures is offline   Reply With Quote
Old 07-31-2018, 12:09 PM   #12
Senior Member
 
Hilola's Avatar
 
Join Date: Jun 2018
Location: Tehachapi, California
Trailer: none
Posts: 515
Quote:
Originally Posted by KarenH View Post
What to do with left-over foreign coins?

Some years ago I had quite a pile of foreign coins left over from trips my late husband, my son, and I had taken. I decided to do something with them so I hot-glued them to a log pole at my cabin. They are grouped by country. It is a wonderful reminder of the great times we had. It is also somewhat of a museum of no-longer-available coins such as East German marks and individual European currencies.

My original plan had been to use my Dremel to make the coins flush with the wood but that would have added another twenty years to the project on top of the twenty it took me to do it.

Edited: Many credit cards, including Capital One and the Costco Visa, do not charge foreign transaction fees.
That's a great idea with the coins, Karen! I have some left over coins from a couple of recent trips to the Philippines. Just need a log cabin now, lol!

Another card that does not charge foreign transaction fees is USAA Visa.
__________________
Greg
Formerly owned a 2007 24' HiLo/ 2003 Tahoe combo. Interested in the 5.0TA
Hilola is offline   Reply With Quote
Old 07-31-2018, 12:15 PM   #13
Senior Member
 
Iowa Dave's Avatar
 
Join Date: Aug 2015
Location: Benton County, Iowa
Trailer: 2013 Escape 21 Classic Number 6, pulled by 2018 Toyota Highlander
Posts: 4,335
Forty Creek

Thanks Jack,
I was not looking at the jug of Forty Creek whisky that I bought at Niagara last September when I wrote that. If youíll help me drink it, Iíll buy another one this year but I hate hauling a partial back home. It just adds to my habit. Makerís Mark is on sale here this week for $27 for 750ml. Probably ought to pick up a spare in case thereís a famine. Say hello to Nancy.
Iowa Dave and Rita
Iowa Dave is offline   Reply With Quote
Old 07-31-2018, 12:39 PM   #14
Senior Member
 
BCnomad's Avatar
 
Join Date: Jul 2012
Location: O town, British Columbia
Trailer: 2014 Escape 21 "Lightning"
Posts: 1,470
Quote:
Originally Posted by New Adventures View Post



Also, I often use a credit card for fuel purchases. My credit card vendor does not charge a fee for international charges but some do. Also, as a US customer I often have to go in to sign for a credit purchase for fuel, my card rarely works at the pump when I am in Canada.
My Canuck card can be hit or miss in the USA for chip/signing too.




OP, another option may be to see if the casinos near the border will exchange their stockpile of C$ for greenbacks. Worth a phone call anyway.
BCnomad is offline   Reply With Quote
Old 07-31-2018, 12:52 PM   #15
Senior Member
 
Join Date: Jan 2014
Location: North Van., British Columbia
Trailer: 2014 Escape 19, sold; 2019 Escape 21, Sept. 2019
Posts: 4,896
Quote:
Originally Posted by New Adventures View Post
I often have to go in to sign for a credit purchase for fuel, my card rarely works at the pump when I am in Canada.
It was the same for many years for Canadians travelling in the US . Hated having to go into some stations with fortified cages etc. It always was a guessing game as we went further South. When would the "enter zip code" stop us from making a quick gas and go stop. Happy now that we have a code to put in so that we can gas up anywhere in the US and Mexico without leaving the pump.

It's also nice now that there are cards without costs that offer good exchange rates. Sometimes it pays to look around a bit and not just keep on using the same old piece of plastic that you've been using for years.

As far as carrying Canadian cash, we are a country that operates on plastic. Hardly see anyone paying in cash. We carry US cash for emergency situations but often don't spend much of it and the same would apply to you in Canada.

Ron
Ron in BC is offline   Reply With Quote
Old 07-31-2018, 01:58 PM   #16
Senior Member
 
bdornbush's Avatar
 
Join Date: Oct 2014
Location: Santa Rosa, California
Trailer: 2015 19 foot
Posts: 416
When I got to Osoyoos, I stopped at the credit union and used their ATM to withdraw $100 CAD. They charged a reasonable exchange rate and no fee, and my credit union charged no fee. I ended up using a credit card (Costco so no fee) almost everywhere. We took a later trip to Banff and I ended up using most of my remaining cash at the airport for food so I wouldn' t have so much left. My advice is to just get a little cash and check that the places you use an ATM are fee-free, and use a credit card with no fee where possible.
__________________
Bill Dornbush
http://dornbush.net
bdornbush is offline   Reply With Quote
Old 07-31-2018, 02:18 PM   #17
Senior Member
 
Hilola's Avatar
 
Join Date: Jun 2018
Location: Tehachapi, California
Trailer: none
Posts: 515
BTW, what is Canadian Curreny?
__________________

__________________
Greg
Formerly owned a 2007 24' HiLo/ 2003 Tahoe combo. Interested in the 5.0TA
Hilola is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off






» Featured Campgrounds

Reviews provided by

Disclaimer:

This website is not affiliated with or endorsed by Escape Trailer Industries or any of its affiliates. This is an independent, unofficial site.


All times are GMT -5. The time now is 12:48 AM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Copyright 2012 Social Knowledge, LLC All Rights Reserved.
×