Best places to change USD into CAD?

On Apr 15, 3:43 am, g...@ (Graz) wrote:
> What sort of places are best for changing US dollars into Canadian
> dollars in the vicinity of border crossings?
> Any advice much appreciated.

banks, currency exchange booths......

"Graz" <graz@> wrote in message
news:48046a56.3487515@news.motzarella.org...
> What sort of places are best for changing US dollars into Canadian
> dollars in the vicinity of border crossings?
> Any advice much appreciated.
>

Stick with the Banks, if you can, Anyone else charges a fee.

"Graz" <graz@> wrote in message
news:48046a56.3487515@news.motzarella.org...
> What sort of places are best for changing US dollars into Canadian
> dollars in the vicinity of border crossings?
> Any advice much appreciated.
>

A Canadian ATM. Just make sure it does not charge you. What your bank
charges is a different matter. Most credit union ATM cards charge only the
standard 1%.

If you buy Canadian dollars in the US, you will pay a high exchange rate or
a fee or both.

Another thought: maybe buy a few dollars from a friend who has recently been
to Canada.

Marianne

On Apr 15, 7:30 am, "Jim Davis" <sky.danc...m> wrote:
> "Graz" <g...@> wrote in message
>
> news:48046a56.3487515@news.motzarella.org...
>
> > What sort of places are best for changing US dollars into Canadian
> > dollars in the vicinity of border crossings?
> > Any advice much appreciated.
>
> Stick with the Banks, if you can,  Anyone else charges a fee.

Banks don't charge a fee?

Graz wrote:

> What sort of places are best for changing US dollars into Canadian
> dollars in the vicinity of border crossings?
> Any advice much appreciated.

Your best bet is to use an ATM and take the money out in large
withdrawals. You are likely to get a service charge, but you will be
getting the best exchange rate and that will more than make up for the
fee.

SMS wrote:
> Hatunen wrote:
>
>> How does one make a foreign transaction in the US while in the
>> US?
>
> The link to the Washington Post article explains it. It's called
> "Dynamic Currency Conversion." The merchant's point of sale terminal
> does the conversion from local currency to dollars, and you're given
> a
> receipt that indicates the purchase total in $US. It's only when you
> compute the exchange rate (if you even remember the price in local
> currency) that you realize that you've been charged an exchange rate
> that's about 4% worse than the true exchange rate. In the case of
> DCC,
> Visa wasn't getting their 1% because there was no currency
> conversion
> being done by them, it was all done by an intermediary between the
> merchant and Visa. Needless to say Visa wasn't happy about losing
> their 1%, and they are now changing the terms to charge 1% based on
> the merchant's physical location, rather than charging 1% based on
> converting the purchase from foreign currency to $US. I suppose this
> also means that charges in countries that use the US dollar as their
> own currency will now have the 1% fee as well, even though no
> currency
> conversion is taking place.

That's all well and good, but where in the US is the "local currency"
something other than US dollars?

--
--
--John
to email, dial "usenet" and validate
(was jclarke at eye bee em dot net)

On Apr 17, 3:25 am, "J. Clarke" <jclarke.use...@cox.net> wrote:
> SMS wrote:
> > Hatunen wrote:
>
> >> How does one make a foreign transaction in the US while in the
> >> US?
>
> > The link to the Washington Post article explains it. It's called
> > "Dynamic Currency Conversion." The merchant's point of sale terminal
> > does the conversion from local currency to dollars, and you're given
> > a
> > receipt that indicates the purchase total in $US. It's only when you
> > compute the exchange rate (if you even remember the price in local
> > currency) that you realize that you've been charged an exchange rate
> > that's about 4% worse than the true exchange rate. In the case of
> > DCC,
> > Visa wasn't getting their 1% because there was no currency
> > conversion
> > being done by them, it was all done by an intermediary between the
> > merchant and Visa. Needless to say Visa wasn't happy about losing
> > their 1%, and they are now changing the terms to charge 1% based on
> > the merchant's physical location, rather than charging 1% based on
> > converting the purchase from foreign currency to $US. I suppose this
> > also means that charges in countries that use the US dollar as their
> > own currency will now have the 1% fee as well, even though no
> > currency
> > conversion is taking place.
>
> That's all well and good, but where in the US is the "local currency"
> something other than US dollars?
>

On border towns the "local" currency is often something in addition to
the local dollar (Peso or CAD). In many cities where large groups of
European tourists congregate (i.e. NYC) many merchants will use the
Euro as the "local" currency.



> --
> --
> --John
> to email, dial "usenet" and validate
> (was jclarke at eye bee em dot net)- Hide quoted text -
>
> - Show quoted text -

In article <48046a56.3487515@news.motzarella.org>,
graz@ (Graz) wrote:

> What sort of places are best for changing US dollars into Canadian
> dollars in the vicinity of border crossings?
> Any advice much appreciated.

As has been said banks and currency exchanges.
All international airports have currency exchanges.
ATMs often have a foreign exchange service charge, so I only use the ATM
in emergency for a larger amount.

I carry minimum cash when I travel, because it has to be converted back
when returning and change is trashed.
I use a credit card for all significant purchases.

Many Canadian stores and services will take USA $s at a reasonable
exchange rate.

Exchange fees are about 2%, either up front or built into the rate.
After all they all have to make money on the transaction and holding USA
$s has been a bit dangerous lately.

Josh -Canada

"Alan S" <nothere@there.com> schrieb

> All around the world, despite those charges, I have found
> using my bank debit (via visa) card at ATM's to be the most
> inexpensive means by far.

And the easiest too.
That way you don't have to worry about carrying a larger
sum in your own currency with you when travelling abroad.

> I usually make a withdrawal equivalent to $200 on first
> entering a country, enough for initial needs, and add more
> later as necessary.

Right. and for me this amount usually enough since I pay for
almost everything by card. Who needs cash?

Jochen from Germany