Money Exchange

EdWin · 1 Money Exchange Mon Apr 20, 2009 8:59 pm

EdWin

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Hey Gang:

So I'm about to head down to Phoenix/Grand Canyon for a little R&R. I'm just wondering where is the best place to exchange my Canadian $$ for American $$. Banks? The Airport? Somewhere else?

Oh, and also do places accept change? I have a buttload that I need to get rid of.

Any input would be greatly appreciated. Thanks!

grumpy old man · 2 Re: Money Exchange Mon Apr 20, 2009 9:16 pm

grumpy old man

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I suppose a (Canadian) bank is as good a place as any. There are currency exchange kiosks in all airports but I don't know what fees they charge. Don't try to exchange it in Phoenix.

Try to convert only as much as you'll use. Don't want to get dinged too much on both sides of the transaction eh?

Change? In the US? Or here? Here there are some supermarkets that have change machines. They charge 10%. But they are very convenient when you have a bucket full of change to get rid of.

Enjoy your vacation.

Deank · 3 Re: Money Exchange Mon Apr 20, 2009 10:20 pm

Deank

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Unless you are talking a significant sum of money... its not really going to matter much where you exchange.. A currency house ( like in winnipeg I think its called custom currency house) is slightly better then a bank.. but at most 2 pennies on the dollar
so a thousand dollars being changed would make about $20 difference... so whats your time and travel expense to the currency exchange worth?

Also I would stay away from an airport one, captive audience and no competition makes for as much as a 5 to 8 cent differnce

as for change... rolling it youself is going to be the only option before you go to a bank.. its fairly easy... but I guess that depends what a butload is.. like 5 gallons? Then if an option exists like GOM says it might well be worth it.

Deank · 4 Re: Money Exchange Mon Apr 20, 2009 10:29 pm

Deank

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use the Yahoo currency converter to get a general idea of what you should expect currently..
http://finance.yahoo.com/currency-converter?u#from=CAD;to=USD;amt=1000

then just call around to the various banks to see which one is closest.

rosencrentz · 5 Re: Money Exchange Mon Apr 20, 2009 10:39 pm

rosencrentz

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The currrency exchange will get you a very small exchange difference than banks. Are you taking $1000 U.S? than it probably isn't worth going downtown. Get on the phone and ask the rate. Check with your cash card and your credit card company may be charging you 2% extra, ask them.

Deank · 6 Re: Money Exchange Mon Apr 20, 2009 11:19 pm

Deank

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credit card might be as much as 12% or more extra... definately be careful with that,.

maybe get some travellers cheques in $100 demoninations as emergency back up in case you is robbed.

Last edited by Deank on Mon Apr 20, 2009 11:36 pm; edited 1 time in total

rosencrentz · 7 Re: Money Exchange Mon Apr 20, 2009 11:27 pm

rosencrentz

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The credit card companies charge you the exchange rate, whatever it is, and then 2 %, extra because they can! you have to check with your plastic company.
If you think you might spend $1000 in restaurants, it is only $20 at 2%, and may be to your advantage in not having to carry a large amount of cash with you! there are also travellor cheques, but I am not familiar how easy they are to cash. Fraudulent Nigerian scammers, etc.

AGEsAces · 8 Re: Money Exchange Tue Apr 21, 2009 9:12 am

AGEsAces

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If you use a credit card from a bank that spans the border, they aren't supposed to charge you any fees.

I know my RBC Visa does not charge an exchange fee when I use it in the US.

Many US Banks (especially in the Phoenix area) have coin counting machines. But do you REALLY want to drag all that change along with you? You'd be better to wait until Grand Forks dries out, and then drag all the change there. There are two banks in Grand Forks that have the coin counting machines...and they are very nice about doing it for you...no charge (and don't roll the money).

The other option is to buy a credit card from a US Bank. It's like a cash card...but actually says MC or Visa on it...and then you'll have less fees as well.

rosencrentz · 9 Re: Money Exchange Tue Apr 21, 2009 11:04 am

rosencrentz

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If you phone your credit card company, ask them what fee they charge for international charges! I think you will be surprised at their answer. They do not show it as a seperate charge, becuse they do not want to remind you how they are screwing you for every extra "service"!

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Money Exchange

1 Money Exchange Mon Apr 20, 2009 8:59 pm

EdWin

2 Re: Money Exchange Mon Apr 20, 2009 9:16 pm

grumpy old man

3 Re: Money Exchange Mon Apr 20, 2009 10:20 pm

Deank

4 Re: Money Exchange Mon Apr 20, 2009 10:29 pm

Deank

5 Re: Money Exchange Mon Apr 20, 2009 10:39 pm

rosencrentz

6 Re: Money Exchange Mon Apr 20, 2009 11:19 pm

Deank

7 Re: Money Exchange Mon Apr 20, 2009 11:27 pm

rosencrentz

8 Re: Money Exchange Tue Apr 21, 2009 9:12 am

AGEsAces

9 Re: Money Exchange Tue Apr 21, 2009 11:04 am

rosencrentz

10 Re: Money Exchange

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