Question for Ephraim

[Chetsky]

Ephraim - You seem to be the "be all - end all " for any questions about Montreal. You have helped answer some tourist type questions for me and if you wouldn't mind one more here goes . . .

 

Where is the best place to exchange UD$ for CAD$ Should I wait til we get to the airport in Montreal or take care of it in the States?

 

Thanx again

[TJM001]

Almost every store, restaurant, etc. in Canada will take American money but you will get a better rate if you exchange money at a bank and use Canadian dollars for smaller purchases. For larger amounts, I believe you will get the best rate by charging the amount to a credit card and letting the card company compute the exchange. At least that is how it works best for me when I travel in the USA.

[Ephraim]

Sorry I didn't answer earlier, but I was on a cruise and well.... at 50c a minute, I'm not reading message boards :)

 

If you need cash, your best bet is actually to use an ATM to withdraw cash in Canadian dollars in Canada. There are plenty of them at the airport and around the city. Most banks will charge you a C$1.00 to C$1.50 transaction fee, plus your bank will charge you a fee, so only pull from the ATM once. Your bank will translate that for you (though it appears that a number of banks are now offering to bill you in USD and give you their rate instead). The total charges should still be less than it will cost you to purchase CAD in a bank, unless you are in a border town where they deal with this all the time.

 

Any small mom and pop shop or airport foreign currency desk will abuse the privileges of the currency conversion. Most of the Canadian banks will be glad to exchange funds from USD to CAD at appropriate rates.

 

Stores will often offer varying rates from excellent to horrid. For example, you may find a store offers a rate of 10% (not bad) or at par (horrible). Sometimes they may have a promotion and offer rates that are higher, but that's not very usual. (Disney for example does this for Canadians in the off months to get Canadians to come down to Disney World.).

 

You should get a premium on USD of around 8% now. The real rate fluctuates daily, but the rate has changed of late because of the US economy. (Don't blame me! I live on the other side of the border.)

 

The airport in Montreal has ATMs from many of Canadian's banks. As you exit the restricted zone, go up the stairs (or elevator) to your left and ask them for an ATM. They all work in English, after you put your card in.