When you are visiting Canada, it is best to use Canadian currency so
you do not lose any value on having your money converted at the point of
purchase. It may be possible but there is often a premium and it does
not favour you. Make sure you have Canadian $$ on hand when you arrive
for a stress free visit.
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The
best place to exchange money is at a Canadian Chartered Bank, Trust
Co., Credit Unions or at offices of a Foreign Exchange Broker. The
first three should give you the best exchange rate.
Some hotels, merchants, restaurants and other venders may accept US$$ at a pre-determined ratio. The rate of exchange can vary from place to place and is completely up to the person offering to make the exchange. This can lead to unnecessary expense for something that is so easy to avoid.
However, you get a better exchange rate at the bank or when you use
your credit card. Your credit card purchase is converted to your local
currency at the bank exchange rate.
Travellers
Cheques in Canadian currency are the safest and best way to carry
money. They are widely accepted and can be cashed at banks, foreign
exchange brokers and lots of merchants. You may required to show
identification when cashing the cheques. -
$1 coin 'loonie' = 100 cents
$2 coin 'toonie' = 200 cents
Notes - $5, $10, $20, $50, $100, $1,000
Coins - $.01(penny), $.05(nickle),$.10(dime), $.25(quarter), $1.00(loonie), $2.00(toonie)
Banking hours are from 10am to 4pm on weekdays. Some branches are also open evenings and Saturdays.
Automated Bank Machines(ATM) allow you to have 24 hour access. There are also in-store debit card services available in Niagara but you will usually have to pay a service fee for the convenience.
They are found in stores, small and large size, malls, banks , turst companies.You should ask your bank before you leave, what services you can use with your card when you are travelling.
Cards generally accepted are Visa, Mastercard, American Express, Carte Blanche, Diner's Club, En Route
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