Where Do I Exchange Canadian Money for United States Dollars?
Many businesses in Canada accept United States currency, but it's rare to find a business that will accept Canadian currency in the United States. Exchange Canadian currency before traveling to the United States. Locate the best exchange rate to get the highest price for your money; rates vary from place to place. Exchange fees apply when you change Canadian currency for United States currency. Plan for the cost of changing the money when you plan your trip.
Other People Are Reading
-
Banks
-
Speak to a representative at the bank you use. Many will exchange currency with a favorable, fair rate. If your bank is small and local, it might not offer currency exchange. Go into another, larger bank that has branches nationally or internationally to exchange your currency. Use your own bank for an advantageous currency exchange rate. Many banks offer customers a better deal when the customer has a checking or savings account with a high balance.
Travel
-
If you're in a hurry, ask to exchange funds at your hotel or the airport. International airports have currency exchange booths where you can hand over your Canadian currency and get United States currency. Speak with a front desk representative at the hotel to exchange your currency. Watch out for high exchange rates at the hotel and airport though. It's not the best option unless you're in a hurry and don't have other options.
-
Currency Exchange Services
-
Some stores offer currency exchange, but the rates are high and it's no easier than walking into a bank. Other businesses offer to send you local currency, but the cost is also high. In general, currency exchange services are not a good idea unless you have no other way to exchange your Canadian currency for American dollars.
Other Options
-
Use your ATM card or credit card to convert your Canadian currency to American dollars while you travel. Instead of withdrawing money, exchanging it and traveling, you can simply travel. Make sure your card is accepted in the place where you're traveling. Many banks let you withdraw money from Canadian accounts at American ATMs, for example. There is an exchange rate applied to the transaction, but it's the bank's rate, so it's lower than what you'd find at an airport or a hotel. Speak to a bank representative before you travel to find out where you can get money from your card in the area where you're traveling. Ask what the currency exchange fees will be so you understand exactly how much money you will have to spend.
-
References
Resources
- Photo Credit Hemera Technologies/AbleStock.com/Getty Images
