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Also what I was surprised in Canada is that they usually don't charge extra for using USA dollar. One item costed me $15 and I gave the cashier US $20 then was returned C$5.
It depends on the exchange rate. Currently 1 US dollar is worth ~1.03 Canadian. It's close enough that it's exchanged at par but technically the store owes you 45 cents on $15.
It depends on the exchange rate. Currently 1 US dollar is worth ~1.03 Canadian. It's close enough that it's exchanged at par but technically the store owes you 45 cents on $15.
That's the market rate, though. It's what the banks buy and sell at, at the market.
Of course, having bought at that rate, the banks will sell to you (the consumer) at a slightly higher rate. They have to make money, after all. They'll buy from you too; again, at a slightly higher rate.
Now, consider the Canadian retailer. It has to deal with the fact that it is paying over the bank rate when it trades in US dollars with its bank. And, it also has additional paperwork with the bank. So, it is common, when the bank rate is (say) 3%, for the Canadian retailer to charge 10%. Call it a "convenience fee" for using US dollars.
Americans, any Canadian bank will accept your greenbacks, and trade them for Canadian dollars at very close to the daily banker's rate. This is the best deal you will get. If you insist on using US dollars at Canadian retailers, prepare to lose a lot on the retailer's exchange rate.
What I get extremely annoyed about is Canada treats American money like our own most of the time and American's treat Canadian money like monopoly money, totally useless. It's very ignorant in my opinion, especially since the two currencies are so close to par. Even the northern states don't accept Canadian money, anywhere. And I'm not just talking about bills, I mean nickels and pennies! I know every retailer I've been to in Canada doesn't see the difference between Canadian and U.S. coins and takes it with no problem. Why can't the U.S. do the same and why is it such a big problem?
Usually when i go to the USA i just go to a Canadian bank a few days beforehand and get the amount of American money i think i'll need, if i need more while on the trip i'll just go to an ATM machine at any American bank or use a credit card..
On the return any American money i have left goes in a jar for the next trip to the USA.
Actually trying to change another countries currency through a private person or enterprise is an extremely rare occurrence in my case ..
What I get extremely annoyed about is Canada treats American money like our own most of the time and American's treat Canadian money like monopoly money, totally useless. It's very ignorant in my opinion, especially since the two currencies are so close to par. Even the northern states don't accept Canadian money, anywhere. And I'm not just talking about bills, I mean nickels and pennies! I know every retailer I've been to in Canada doesn't see the difference between Canadian and U.S. coins and takes it with no problem. Why can't the U.S. do the same and why is it such a big problem?
the difference is simple, USD is one of the world's primary reserve currency while CAD is NOT. In Americans' eye, CAD is like the Australian dollar, or Swiss franc. It is foreign money and they don't like to accept it.
US and Canada were never in an equal relationship, did you just realize that? For example, American PR can enter Canada without visa, but Canadian PR need to apply a visa to visit the US.
US and Canada were never in an equal relationship, did you just realize that? For example, American PR can enter Canada without visa, but Canadian PR need to apply a visa to visit the US.
By PR are you referring to Permanent Resident? if so arent all Canadians permanent residents of Canada?,i've never been asked for a visa to visit the USA, just a passport.
By PR are you referring to Permanent Resident? if so arent all Canadians permanent residents of Canada?,i've never been asked for a visa to visit the USA, just a passport.
Yes, I mean permanent resident of Canada, but not Canadian citizen. You are Canadian citizen.
An Canadian PR from India or China prior to having his Canadian passport will need to apply for visa to go to the US; on the other hand, a US greencard holder (although not US citizen and still hold Chinese or Indian passports only) is exempt from Candian visa.
Because Canadian banks are in the business of serving customers, and will cheerfully exchange them at a fair rate of excchange. So it is no problen for a Canadian business to accept US dollars. If you are stuck with Canadian money in the USA, just throw it a way, no bank will even sniff at it. That's not what banks in the USA do. Falls in the non-existent and unprofitable category of "customer service".
One town near the Mexican border actually tried to pass a law prohibiting McDonalds and Pizza Hut from accepting Mexican pesos, but failed to get it past the pesky pro-terrorist Constitution..
What I get extremely annoyed about is Canada treats American money like our own most of the time and American's treat Canadian money like monopoly money, totally useless. It's very ignorant in my opinion, especially since the two currencies are so close to par. Even the northern states don't accept Canadian money, anywhere. And I'm not just talking about bills, I mean nickels and pennies! I know every retailer I've been to in Canada doesn't see the difference between Canadian and U.S. coins and takes it with no problem. Why can't the U.S. do the same and why is it such a big problem?
It's much more difficult to exchange money in the US. Friends of mine in the US had to wait up to a week just to get some Euro's. I'm sure it's not the same all over the US but it's definitely not the same as here in Canada.
As for coins, pennies as you know will one day not be accepted and a lot of the newer vending machines don't accept US coins anymore.
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