Canadian money question
 

We are going to Niagara Falls next week. Should we bother changing our money from American to Canadian? Do the restaurants and attractions list both prices to make it easy so I don't feel like I am possibly getting ripped off by not knowing the exact transfer amounts?

It's up to you whether to change it or not.
Some do; Some don't. All will have a rate posted that will indicate what exchange rate they are giving you for U.S. dollars. E.G. "We accept U.S. dollars at $1.20 Canadian"
This rate will not be as good as the bank rate.
Right now the dollars are so close in value that at worst you will be ripped off for a couple of cents.
You can also try to charge as much as possible to your credit card. The exchange rate your credit card company gives you may be better than what you would get for cash.

If I were you, I would simply go to the cash machine in Canada (ideally the one most closely associated with YOUR bank at home - scour your bank's website for details) and withdraw funds in Canadian money. Charge the big stuff and use what you get from the machine for the small stuff.

Why would a Canadian restaurant list prices in U.S. Dollars?

Amazing.

Businesses in border towns will usually accept either currency, so if you'll only be a few hours on the other side, use US dollars for your small expenses. If you will be spending more than a nominal amount of cash over several days, then use credit cards where possible and withdraw Canadian currency from ATMs.
Don't waste time and money exchanging one currency for another.

You'll get robbed if you pay with American money in Canada, paying far more than the official exhange. If you aren't spending much, it won't be a big deal. The best bet is to use your credit card at every opportunity.

Don't forget that credit cards add a percentage to the exchange rate - depending on the card up to 3%. The ATM is the best bet - you get the money at the current rate and just take it out as you need it.

"Why would a Canadian restaurant list prices in U.S. Dollars?

Amazing."

Ashley24's question was perfectly legitimate. It is NOT unusual to find restaurants in Niagara Falls (and other border towns) that do this. The above comment was rude, uncalled for and unhelpful.

LOL.......not in the least.......

How many US restaurants quote prices in Canadian dollars -or will even accept Canadian dollars for that matter?

Jerry

"LOL.......not in the least.......

How many US restaurants quote prices in Canadian dollars -or will even accept Canadian dollars for that matter?

Jerry"

That is not relevant. The OP asked a question - you did not provide any useful information and made a value judgement. Personally as a Canadian, I think it would be lovely if border towns in the U.S. accepted Canadian money and posted their prices in Canadian dollars.
Canadian businesses (just like businesses in Mexico and the Caribbean) accept U.S. dollars because it is to their economic advantage to do so. There is no value judgement to accepting or not accepting U.S. dollars.

Thanks to those people who replied kindly to my question! I appreciate it!

FYI Many restaurants and shops in Bellingham and Blaine list prices in both currencies. Also I was in a store a couple of weeks ago in Bellingham that took Canadian $$ at par.

"Why would a Canadian restaurant list prices in U.S. Dollars?"

For the same reason the American restaurants will list prices in Canadian dollars. To make it easy for their customers.

Some businesses (particularly those with high margins) will even give better than the prevailing rate. For example some US Golf Courses have a day of the week where they accept Canadian dollars at par. (Opps, that pun was unintended)

Keith

If someone goes to a foreign country, they should have the cultural sensitivity to study at least just a bit on local customs and things like, for example,the approximate exchange rate. If the Cdn dollar is at 87 cents US for example it takes about 10 seconds with a pocket calculator to compute the exchange $$$.

Anyway, this is not a big deal.....much more important things in this world to consider.

cheers

Jerry

gannetmusic,

Have you ever been to or even anywhere near Canada??

Some border town restaurants list one price on the menu and then let you choose whether to pay in U.S. dollars or Cdn dollars!

And on your last ditty:

Dollars have exactly nothing to do with "cultural sensitivity". And the points being illustrated for you, which are clear to everyone else reading, do not require that anyone be going to a "foreign country".

Please try in the future to stay remotely focused on the reality around you without adding totally unrelated nonsense.

Thanks in advance!

Northwest male-

I was born and raised in Canada and have lived here most of my life. Have traveled in every province - from Cape Spear to Vancouver Island and Pelee to the sub-arctic. Have crossed the US border hundreds of times and lived / worked both on the US /Canada border and US /Mexico border.

You have every right to your opinions...right or wrong.

cheers

Jerry

"You have every right to your opinions...right or wrong."

As do you. Good luck!

Keith

Ashley:

In Niagara Falls most establishments accept U.S dollars. However, you must be aware of some fundamental regulations with doing this. Many U.S tourists get very upset, annoyed, ticked off etc when they do not get their change back in U.S. The local establishments take U.S cash as a courtesy and are not obliged to. Returning change in U.S dollars is not allowed so this is one thing you must know and accept.
Whether you should "bother " or not is up to you. It's not really that much of a pain to bring your debit card and process a withdrawal through an ATM machine. I always think it's polite to have the local currency in a place and also it is usually in my best interests and that of my pocletbook as the exchange rates are then set rates.
If you don't want to risk being "ripped off" use your debit cards at any ATM to get some Canadian dollars. Also why not check out the exact exchange rate before leaving home then you will know the "exact transfer amounts" and you will be forarmed with knowledge and then you don't have to pay in U.S at any place who you think is giving a poor rate.
regards

Ashley: Here is a website where you can print yourself a "cheat sheet" with $US to $Canadian and $Canadian to $US. I staple the sides together and put it in my wallet when we travel. That way with a quick glance I can figure out what I'm spending, etc.

http://www.oanda.com/cgi/convert/cheatsheet

Agree that ATMs are the answer, using a debit card preferably. That way the funds are withdrawn from your account and not added to a credit card, sadly these days with heavy percentages charged by most banks. Capital One is one of the few who have not as yet raised their rates. Using credit cards for larger purchases is fine.

Thanks for the cheat sheet Giovanna. We leave Dallas in the morning for 3 nights in Niagara Falls. Can't wait to see those falls!