Should I Pay with USD or Local Currency in Canada?

Should I Pay with USD or Local Currency in Canada?

When you travel to Canada, it is best to pay in local currency (CAD) instead of USD. We show you the top three benefits of paying with CAD. Find out how you can save money on your overseas trip and avoid unnecessary currency exchange fees.

USD not universally accepted

If you are planning to rely on USD in Canada, you may like to reconsider. Although large retailers, tourist attractions, hotels and border crossings accept US currency, smaller and rural destinations may not. Travellers don’t always consider the situations when the local currency is the only option. Parking meters, public transport and laundromats are just a few examples of when you will need to pay with CAD.

Don’t get stuck with the wrong currency. Enjoy a stress-free experience by organising your Canadian dollars before you leave for your overseas trip.

Get a better exchange rate

One of the best ways to save money on your trip is to avoid paying currency exchange fees. These fees can eat into your holiday savings.

Businesses who accept USD will set their own exchange rate and this usually won’t be in your favour. The rate will vary from very good to poor, depending on the generosity of the business. Accepting USD is a courtesy to tourists. This service is a burden for them because of the extra time it takes to exchange money at their bank. They also have to count and sort through CAD and USD.

As the merchant has to pay to exchange USD then usually these costs will be added to your bill. Unless you’re handy with a calculator and up-to-date with the currency rates, there’s no way for you to know how much extra you are paying. Working out these fees would be the last thing you want to do when you have a tight travel itinerary.

When you take the right cash currency on your trip, you know what currency exchange rate you’re paying and have a set budget for your holiday. Cash is cheaper than paying credit card charges, international ATM fees or using a travel card.

Canada has its own currency

Canada is a distinct country with its own currency.  Although Canada and the United States are neighbours and share many ties, most Canadians would agree that they prefer to be paid in local currency. When Canadians travel to the United States, they usually find that they can’t pay with CAD. Using local currency is appreciated by the locals. When in Rome, do as the Romans do!

At Crown Currency Exchange, we never charge fees or commission to buy and sell currency. We help you save money só you get the best value for your overseas trip. Get your quote today and lock in a great rate for your Canadian currency.

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