Can I use USD in Canada?
I will go to Canada for the first time from the United States. I will use credit card as much as possible but I guess I need cash for small shops and cafes anyway. To avoid exchange money back and forth and ATM fees, I plan to cash some money in USD and carry it with me. As of today, 1 CAD = 1.0086 USD so it should be easy to convert currency. Do small retail stores in Toronto accept USD in cash? If so, how are their exchange rates?
Best Answer
No. I've lived in Montreal and Toronto and the occasional place will take US dollars, but most places will just laugh at you, perhaps in French. If they do take it, they might give you 80 cents on the dollar or so.
Just use credit for everything. There's really no reason not to.
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Is it better to use US dollars or Canadian dollars in Canada?
Canada is not a \u201cthird world developing country\u201d, where US dollars are preferred. When a Canadian business accepts US cash it is actually a hassle for them, as they will have to pay to exchange it at their bank.Is USD accepted in Toronto?
Most big stores will accept US$s but at a very unfavorable exchange rate. You should get your US$s exchanged to Canadian dollars at a bank or at a money exchange place. Just note that if you make any purchases using US currency, any change given to you will be in Canadian currency, not US..Is USD legal tender in Canada?
The $1, $2, $25, $500 and $1,000 bills still retain their face value even though they are no longer legal tender. You can take them to your financial institution or send them to the Bank of Canada to redeem them. Or, you can decide to keep them.Can I use US dollars in Canada?
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Answer 2
Usually, yes. But now that the US dollar isn't more valuable (and is fluctuating wildly from week to week) I've noticed more places not taking it or taking it at a steep discount. You won't get the value you used to out of it.
It's always a good idea to have some local currency on hand no matter where you're going. A credit card will also work, though there can be fees and poor exchange rates on that too depending on the card. Also if you intend to use it, call up the credit card company and tell them where you're going so you don't trigger an anti-fraud security check.
Answer 3
Anecdotal answer: I've been in Vancouver a week now, and noticed I keep being given American coins as change. Certainly the pennies, nickels, dimes and quarters seem interchangeable; the locals never even blink at accepting them.
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