Hey folks...I'll be coming to Toronto on business and wanted to know how most handle the US vs Canada exchange rates?
Advise appreciated
Advise appreciated
Currency exchange...
- Thread starter hangingchad
- Start date
You can get a good exchange rate through an ATM which is usually 1-2.5% off of the current forex rate.
This is comparable to the spread many banks will charge to convert money.
Bank of America customers can access Scotia Bank ATM with no service fee because they are part of the ATM Global Alliance.
Scotiabank
For foreign currency withdrawals performed at ABMs outside Canada, VISA International on our behalf determines the foreign currency exchange rate on the date of conversion. Included in the exchange rate is a conversion fee of 2.5% of the converted amount.
BoA
Withdrawals, deposits, transfers, payments and balance inquiries made at ATMs in foreign countries outside of the ATM Global Alliance will be charged a $5.00 fee.
In addition, an International Transaction Fee will be charged for ATM Card and Check Card transactions made for foreign purchases or ATM cash withdrawals in currency other than U.S. Dollars, regardless of whether or not the transaction occurred at an ATM in a country covered in the ATM Global Alliance. The International Transaction Fee will be 3% of the U.S. Dollar amount for each converted purchase or 1% of the U.S. Dollar amount for each converted ATM cash withdrawal. This International Transaction Fee will appear as a separate item on your banking statement for each international transaction.
1% and no service fee is excellent.
This is comparable to the spread many banks will charge to convert money.
Bank of America customers can access Scotia Bank ATM with no service fee because they are part of the ATM Global Alliance.
Scotiabank
For foreign currency withdrawals performed at ABMs outside Canada, VISA International on our behalf determines the foreign currency exchange rate on the date of conversion. Included in the exchange rate is a conversion fee of 2.5% of the converted amount.
BoA
Withdrawals, deposits, transfers, payments and balance inquiries made at ATMs in foreign countries outside of the ATM Global Alliance will be charged a $5.00 fee.
In addition, an International Transaction Fee will be charged for ATM Card and Check Card transactions made for foreign purchases or ATM cash withdrawals in currency other than U.S. Dollars, regardless of whether or not the transaction occurred at an ATM in a country covered in the ATM Global Alliance. The International Transaction Fee will be 3% of the U.S. Dollar amount for each converted purchase or 1% of the U.S. Dollar amount for each converted ATM cash withdrawal. This International Transaction Fee will appear as a separate item on your banking statement for each international transaction.
1% and no service fee is excellent.
US banks usually charge more than Canadian banks!
I've been changing money for years in Canada for this reason.
Casinos in Canada, if your are near one, give the best rates of all usually 1 or 2 points.
Coin & Currency Exchange on Burnhamthorpe in Mississauga, also deal antique coins too. Their fee for currency exchange? .01 CAD per $1.00 exchange rate recorded. Can't beat it. *AND* they take foreign coins, like Pounds.
Are they still around, haven't been able to get there?
Gyaos Baltar.
