How can I be sure to get the most for my money when converting US dollars to Canadian? Should I do the exchange at a bank or do I get a better deal at one of the provincial tourist offices located at border locations (not the duty free shops, but the government run facilities)?

Sorry I can't answer your question but, I wanted to let you know that whenever you can use a credit card to make a purchase or pay for a service it works out cheaper than if you pay in Canadian $$$.

I also find that using a credit card gives you a great exchange rate. ATM's in the country you are visiting give great rates also. I actually learned this from an article in Travel and Leisure and found it to be true.
I will also be visiting Canada this year. Before I leave I will call my bank and the local American Express office to see who has the best exchange rate and exchange some money before I leave. The "official" exchange rate should be listed in the business section of your local newspaper.

Definitely get cash with your ATM card and pay for all purchases possible with a credit card. Not only will you receive the best rates, you won't have to bother with any exchanging. If you have any Canadian dollars left over, use them toward your hotel bill to avoid having to change them back.

Hi I have been to Canada 7 or 8 times now and I have
pondered the same question you are asking. Here is what I have found out:
(1) There is always a flat bank fee to cash a
travellers check at a bank, regardless of the amount of the check or the currency unit, whether it be Canadian dollars or American dollars or gold bullion certificates.
My last trip, I paid $3.50 C up front to cash the check, then I had to absorb the "shrinkage" of the exchange rate.

(2) The ATM rate is the bank wholesale rate and the charge for using your ATM is probably going to be less than or equal to the flat check cashing fee.

(3) Credit card purchases are converted at the exchange rate, using wholesale rates, that is in effect when the invoice hits the bank. You are not going to do much better than that unless a currency is in rapid deterioration against you and you should have stocked up ahead of time.

Yahoo has a foreign currency quote service that you can find under stock quotes, currency exchange rates. I check this page before I buy and before I go so I will know about what I should be paying.

Most motels and restaurants of any size will accept a Canadian denominated American Express check.
I can get them at a reasonable rate of exchange from a AAA office because I am a member, but still it costs me about 1 cent on the us dollar.

But with the prevalence of atm machines at banks in Canada, I suggest you use your atm card and draw out what you think you will need. that is what I plan to do next trip. And don't forget about the VAT refund that you can get on lodging.

Because Canada, particularly Western Canada, is such a civilized place, you need not be as concerned about crime as you would be in the good old USA, where people get knocked in the head for $5.00.

However, have a few US $ around too. I have found in Banff that stores will post a very favorable exchange rate to get your business. I was told that some of the business associations have agreed to start clearance sales on X date, but some merchants try to steal a march on the others and post a sign offering a beneficial exchange rate. I guess de jure it is not a sale, but de facto it sure sounds like one to me because the net effect is to discount the price. This little scheme is not true everywhere, but we have taken advantage of it.
But be careful, if you don't know, you can pay more than you should.

ATM's and credit cards such as VISA are certainly a good way to go. If you want cash then exchange your money at the bank in Canada. I received an exchange rate very close to the official rate from the Bank in Canada. Exchanging at a bank in the US will cost you as much as 2-3%.

Like one of the previous persons said, Canada is pretty safe though they were stretching things a little. Canada has a relatively low crime rate but like everywhere else, you should exercise some caution. I have never had any problems in the US either but I am not in the habit of frequenting high crime areas. Crime in many areas of Canada is approaching or even exceeding some areas of the US. The main difference is in the cities. Canada doesn't have antything that begins to compare with areas like East St. Louis, Washington DC, Detroit etc. Crime in the smaller cities and rural areas is about the same as the US. In any event, Canada is a beautiful Country and a joy to visit. You don't need to worry too much about crime but be aware that bad stuff can happen anywhere.

To get the best exchange rate in Canada, you will get a better rate buying Canadian dollars with U.S. dollars in Canada than you will in the U.S. Right now a $1 U.S. is worth $1.47 Cdn. The prices will seem higher than in the U.S., but when the exchange rate is taken into account you will find most prices of things less expensive in Canada than U.S. Another way to get a great exchange rate is ask a Canadian person if they would like to exchange some U.S. for Canadian money, that way both you and the Candaian person benefit (ie. no 1% commission from the bank). More Candaians to the U.S. than the reverse. Finally, prepay your credit card and take a cash advance from your credit card from a Canadian Bank and you'll get the wholesale exchange rate. Visa and Mastercard are the most widely accepted cards in Canada. Cashing travellers cheques usually involves higher commissions. Welcome to Canada.

Living in Canada I can tell you that it is better to get money from the ATM machines. Working in retail, I know that the rates of exchange are not as good compared to going to the bank or machine. We love ATM machines and have them at all major sites or stores. It is not like in the States-these machines are everywhere!!!! I would go with the machine (or cash) and avoid the traveller's cheques.

I don't underatand the previous post. I live in San Diego Californaia and we have ATM's everywhere including the supermarkets, shopping centers, amusement parks, hostpitals, etc., etc., as well as all financial institutions. We belong to the San Diego Credit Union so we can use any coop ATM in the world with no fees of any kind.

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