I'm taking a honeymoon through Toronto, Montreal & Quebec city and I've heard that US money is taken in Canada. Is it wise to have Canadian money or will US dollars be just fine?

Are you kidding? Would you bring US dollars to France or Britain? It's another country. A few (and I mean a few) touristy establishments may accept your money but you'll be ripped off royally. Bring Canadian dollars.

You can use US$ in retail transactions if:<BR>1. You don’t mind getting lousy exchange rates<BR>2. You don’t mind perpetuating the stereotype that Americans are arrogant and unwilling to adapt to normal practices in foreign countries.

Those were both kind of brusque comments. Jennifer, it's a good idea to use Canadian currency when you visit Canada. <BR><BR>If you're anything like me, you probably won't be carrying all that much cash on you. You'll find ATM machines everywhere, and I tend to rely on them when I'm travelling. WheninRome says that a few places will take USD - personally I think it's more than a few where I live (Toronto), but you won't get a very good exchange rate. <BR><BR>I always find it easier to use the country's currency when I'm travelling. I'm not paranoid about being ripped off, but it's easier to know if I'm getting the right change or tipping the right amount.

Please ignore the previous answers. Lately I find that people get a little nasty about this topic. <BR><BR>American $'s are widely accepted in Canada but the retail exchange rates are quite a bit below the bank rates.<BR><BR>My suggestion is that you use your ATM card and VISA or Mastercard. When retailers take US$, they factor in the cost of having to convert, the extra charges the bank levy on them, a little bit for themselves, etc. So, if the exchange rate is say $1.52 at the bank, you may only get $1.40 at a retailer. Hardly a good exchange.<BR><BR>ATM's are everywhere in Canada. If you have Plus or Cirrus on your ATM card, you will have no problem. From the US, I would wager that you would probably pay only about $1.50 a transaction. Plus you will receive the exact exchange rate rather than one that is modified to benefit whoever is taking your US$.<BR><BR>But, I see many American tourists using their US$ here and never have seen or heard a complaint. It's a win/win really for both sides no matter what way you look at it.<BR><BR><BR>Good luck and have a wonderful honeymoon. Congratulations.<BR>

Contact your bank ahead of time to find out:<BR><BR>1. How much of a service charge you'll get dinged for using the ATM. If it's a big service charge, you'll want to take out lots at each go, but bear in mind that you'll lose a bit on the exchange when you sell it back again.<BR><BR>2. Who sets the exchange rate when you use your ATM card for direct debit at retailers. If the retailer sets the rate, you'll lose (see previous comments). But if your bank sets the exchange rate, this might be your best bet for a lot of purchases.<BR><BR>Another thing to bear in mind: while I'd be willing to bet that virtually everywhere will take US$, it's not actually legal for them to give you your change in US$. So if you use a $US100 bill for a $10 purchase, you'll get all your change in CAD$ and lose even more in the exchange.

How do you think traveler checks stack up? AAA offers them for no fee to its members.

Traveller's cheques are treated exactly the same as cash in terms of exchange rate.

Your cash will go much farther if you convert it at a bank (not in the states, but after you cross into Canada), withdraw it at an ATM, or bring AAA travelers - in Canadian Dollars, not American dollars. Canadian Dollar travelers checks can usually be cashed at the front desk of your hotel (call ahead and check to be sure) for the face value, no fees or charges. This is useful for those who may not have a credit, debit, or ATM card for whatever reason. Many retailers and restaurants will have signs posted with "their" exchange rate, which will be significantly lower than the rate you will receive at an ATM or by paying with a credit or debit card. Check the current exchange rates before leaving home so you'll know what a good rate is. If you have any Canadian cash or travelers checks left over, use them toward your last hotel bill when you check out (assuming you're headed straight for the border and not stopping for lunch in Canada), so you won't have to change anything back. And, go to the Canadian for visitor's website and learn how to get a refund for some of the taxes on your hotel bill and purchase of goods.

I'm travelling to Canada this summer myself and had the same question. I figured on exchanging some money before hand and using plastic/ATMs when I'm up there. I've traveled to quite a few foreign countries and the foreign currencies are half the fun of the trip!I agree that some of the responses were a little harsh but I also agree with the "when in Rome" concept. I chalk up the experience with foreign currency as just another way to see how the "locals" do it. Enjoy your trip.

Go ahead and bring American. You'll get a poor exchange rate. And don't fall into the ignorant American Stereotype and expect American currency in exchange. You will just appear ignorant and ego-centric. Grow up, you are in a diifferent country.<BR>

Here's the LONG answer:<BR><BR>If you're coming to Canada from the U.S., your transition to Canadian money will be a simple one that does not require much advance planning. Unless you have a bank that really specializes in making Canadian currency exchanges, you are better off not bothering to exchange any money prior to your arrival in Canada. The reason is that many banks attach flat fees for currency exchanges and also have a spread between what they sell the currency for and what they will pay to buy it back. Spreads and fees almost invariably add up to far more than ATM fees would for similarly valued transactions and there is simply no reason to pay them if you can avoid it.<BR><BR>ATMs are found virtually everywhere in Canada and that is your first choice for obtaining Canadian currency. (If you use a debit card, be sure to check with your financial institution or have a backup plan). Most businesses in Canada accept credit cards and you will receive your most favorable exchange rate by going that route, rather than drawing cash for expenses. The reason is that while purchases involve a "grace period" on your bill, cash advances do not. Many card issuers are now adding a percent or two for foreign currency transactions. It's not a good thing, but nothing to get overly concerned about either. The exchange rate you see in the newspaper each day involves large, interbank transactions. Your bill will be converted at close to that rate. All things considered, the extra add-ons will still leave you far ahead of the typical retail-level currency booth transaction.<BR><BR>While many businesses in Canada will also accept U.S. money, it's generally not a good idea for you because the exchange rate is often not the best. Travelers checks? While you can certainly use them if that is your practice, they can present a hassle to convert to cash and they may also involve a flat fee to transact. On the occasions I've used them, I've purchased them in the currency of the country where I'm planning to spend them. This enables the checks to be transacted directly for purchases (where they are accepted), rather than requiring a stop at a bank.<BR><BR>Finally, the lowest denomination of paper money in Canada is $5, since coins are minted for $1 (the Loonie) and $2 (the Toonie) amounts. In any foreign country, you should endeavor to use up your coins before leaving; often only paper currency can be converted back into U.S. dollars.<BR><BR>Save your receipts for lodging and any retail purchases that total more than $50. You can get a refund on some or all the General Sales Tax (GST), Provincial Sales Tax (PST) or Harmonized Sales Tax (HST). The amount of the tax and the portion to be refunded varies by province (and rules tend to change, too). You can claim the refund by filling out a form that you can find online at: <BR><BR>http://www.ccra-adrc.gc.ca/visitors/<BR><BR>Fill out the form and mail it in with ORIGINAL receipts and your boarding pass showing your flight leaving Canada (proof of export is required to claim the refund). If you are leaving by car, you can take care of your refund at the duty-free store at the border. Do NOT use commercial services, which often display brochures or run ads in visitor guides. The fees are outrageous and the claim form is very easy to complete and submit. Again, BE SURE TO HAVE YOUR RECEIPTS VALIDATED BEFORE LEAVING CANADA.<BR><BR>

Thanks much, Jim, for your in-depth and extremely helpful advise, which I certainly will head on our upcoming trip to Canada.

Jennifer, please ignore Ron & JChusing who are stereotypical dumbass, 3-toothed, drunken, bitter neanderthals who resent Americans. Your money is certainly welcomed. But, I would recommend using your cards instead.

SULLY maybe you should go back and read the requirements for using this site, NO profane language PLEASE. I think you described yourself for us instead of others you don't know,does the truth hurt? I TRIED to use USA$ in Canada and got Canadian $ for change, what a tidy little profit they made because of my<BR>inexperience, fool me once shame on you fool me twice shame on me. Get a Grip OK?

Jayne, while I agree with your comments about profanity and such, I had to reply about your receiving Cdn $'s in change. Of course you would. No retailer is going to keep other currencies on hand to provide change. Why would they do something so time costly and well as unprofitable for them? This is a different country after all. Retailers have to pay the current exchange rate at the bank. <BR><BR>However, the change that you received factored in the exchange rate. You didn't just receive Cdn $'s at par. Albeit a lower rate than the bank rate. <BR><BR>Really??? What exactly did you expect?

I have marvelled for years at the fact that Americans seem to think that US dollars are God's gift to the world.<BR>I even had to argue with an officer at my local bank that Canadian dollars were not the same as American dollars. <BR>Other nations have their own national identity, too, you know.<BR><BR>I sm not under the impression that traveler's checks acquired in a foreign currency through AAA are totally free.<BR>The last time I acquired some checks denominated in Canadian dollars, the exchange rate was adjusted to reflect about a 2% markup relative to the bank wholesale rate. There was no added cost tacked on that read FEE, but alterning the exchange rate in favor of the seller is equal to a fee any way you figure it. <BR><BR>Depending on what your bank charges you for off-net ATM uses, the best exchange rate is obtained at ATM machines in Canada. Second best, and dependent on your issuer, are credit cards, but only if you get the wholesale bank rate plus 1% when you use it. Visa and Master Card for years have added a 1% service fee for converting foreign currency transactions. Unfortunately some banks now charge an extra 2% for a "currency conversion fee".<BR>I recently got a credit card from MBNA for use out of the country because it does not tack on that pure profit conversion fee.<BR>In the past I have found that cashing traveler's checks, regardless of denomination, was not a good idea in Canada because many banks levy a flat fee on the transaction. Also, I have not found that every merchant or motel keeper is willing to accept the shrinkage that comes with Canadian dollar denominated traveler's checks because the bank charges a fee to handle them. <BR><BR>The easiest way to get the Canadian currency I need is to use the ATM's. But don't do like my friend did in Europe. He kept sticking his credit card in the slot to withdraw local currency. That of course is a cash advance and results in a hefty interest charge.<BR>(Seems like he did not know the difference between a debit card and a credit card. Professor Bank charged him a fee for the course in the use credit and cash instruments.)

Thanks Traveller, for your comments, that was my first experience in Canada and I now spend every June there. I change my currency in Windsor and go on. I too have realized how arrogant we Americans are. A waiter in the Niagara Falls Hard Rock Cafe put me in my place on my first visit. I was stunned that he did notknow where Louisiana was, he calmly asked me if I knew where Mannitoba was? (I did not, but I do now!)

Please excuse my naivete, but I have never used either an ATM or debit card. <BR>It is my understanding that ATM cards bear the logo of credit cards - true? Yet it has been advised that is best to avoid credit cards at ATM machines as this would be considered a cash advance. I'm confused!

It's my understanding that they show every logo of every debit/credit card company to let the customer know that they're accepted in those machines.<BR><BR>For example, I can pay off my Visa bill using the local bank machines (ie: pop in my Visa card, enter my PIN, slip in the cheque and presto, it's all done)... but I wouldn't use my Visa card in a bank machine to withdraw money. That's what a debit card is for.<BR><BR>Debit cards are great because they're issued to you from your personal bank... and when you withdraw money, it takes money directly out of your bank account hassle free. And at least in this part of Canada, if you use the proper bank machine, there usually aren't any extra charges for using a bank card.<BR><BR>In Canada it's rare to find people who don't use debit... I believe it's the most common form of paying for small purchases. At least it seems that way on the west coast! I work part time retail, and more customers seem to be using debit than cash or credit.