Exchanging USD for CAD for procedure in Canada

[SugarHighs]

A question in particular for the Americans who went to Canada for a hair restoration procedure:

 

Where and when did you convert your US money into Canadian money? In the US? At the Canadian airport currency exchange, or at a Canadian bank, or elsewhere?

 

I was thinking of doing it at the Ottawa airport, however I will have to convert a few hundred dollars and I would rather not get shafted by a bad exchange rate.

 

Any American who went to Dr. Rahal, I would be especially interested in hearing from you.

 

Thanks,

Sugar

[Jotronic]

You'll probably get the best exchange rate from a bank ATM.

[Capelli11]

Hey...I wasn't planning on taking out any money and converting it but when I got to Foxbar the owner said he didn't except credit cards...so I had no choice but to go to the ATM. I must say...I took out 300 CAD...and it went smoothly...didn't get screwed with a band exchange rate at all. So the easiest bet is to go to the ATM (which was inside of a Bank) which is located like half a mile from Foxbar. The owner of the Foxbar usually offers to take people to the food store and anywhere else...so he can take you if you don't have a car. Hope this helps! Let me know if you have any other questions/concerns...check out my write up on Foxbar to get some inside information as to what to expect if you are staying there.

[SugarHighs]

Thanks Jo and Cap, but I might need to convert more money than my daily ATM limit of $300, and I don't want to be going to the bank everyday, especially not after my appointment.

 

Would it make sense to fly into Canada with US money and then convert it at the bank? I heard the worst place to do it is in the US before you leave...

[Jotronic]

One of the worst places to do this is actually at the bank with a teller. The best exchange rate is by simply using your Visa where they are accepted. I don't know about Ottawa but in Vancouver even the cabs take Visa so there is almost no place where one would need cash. Once you get there I think you should change out some cash at the airport and call it a day.

[SugarHighs]

OK, cool thanks Jo. I have a Mastercard, but I am pretty sure it will work. I used it all over Europe without a major problem. In fact one place in France I was able to buy drinks that never ended up getting charged to the card lol.

[NEWHAIRPLEASE]

One of the worst places to do this is actually at the bank with a teller. The best exchange rate is by simply using your Visa where they are accepted. I don't know about Ottawa but in Vancouver even the cabs take Visa so there is almost no place where one would need cash. Once you get there I think you should change out some cash at the airport and call it a day.

 

This is correct!!1 Ive paid for my procedure on my card and then got the difference back on my card!! Went very well!! Cap, did the Foxbar take US dollars?

[Levrais]

If you use a credit card or even your bank card, make sure you know if there is an international transaction fee. Most cards have one but there are a couple that don't. Capital One cards for example have no such fee. There is another one but I cant think of the name. I got the capital one card just for my trip. I think with most cards its like 2-3% of each transaction. On a normal trip that's not much but if you're paying 20K or so for your ht then obviously that fee is too much. Aside from that issue, you will get the best rate by using a card.

[Khali]

To be honest in Canada, US dollars are accepted in most places. At this time the US dollar is stronger so people will accept your US Dollars.

 

In the end you will only loose about $5-$10 from $500

 

The rate right now is $1 US = $1.027

 

Then when you exchange you may only get $1US-= $1.015CAN at max.

 

Refer to XE - The World's Favorite Currency and Foreign Exchange Site

I haven't found one currency vendor which traded at the exact market price. All of them at least commission by a cent.

 

I remember 10 years ago $1 US dollar was $1.45. Most stores still accepted US dollars and gave it a value of $1.40.

That's when it was worth it to convert. However, now its not worth it. Just give ask the stores will you accept US dollar. Most of them will say yes and take it.

Edited December 22, 2011 by Khali

[Capelli11]

Sugar High...u staying at Foxbar? If so, the owner takes USD...so if I were you I would pay in USD and if you want to exchange some money go to the ATM...not sure what you have planned but i highly doubt you will spend over $300 if you are just recovering at Foxbar...you literally can't leave the house the first few days. They have food at the house too that you can eat...the wise move would be to stock up on some food before your surgery which you can do the day before you have ur procedure which is what I did as I also brought food too.

 

Capital One doesn't charge you any transaction fees as I used this card for a portion of my bill. Also check OANDA - Forex Trading and Exchange Rates Services to check the spot rate for USD to CAD...there has been favorable rates there and you should decide when to pay your bill when the rates get better which is what I did.

[SugarHighs]

Hey Cap, yes I am staying at Foxbar. In that case, I guess I will just pay for the room with US dollars when I arrive.

 

Also, I heard they have breakfast food in the refrigerator, but you are on your own for lunch and dinner, is that true? I will probably go to a grocery store and buy some lunch and dinner foods then (in the freezing cold) lol.

[NEWHAIRPLEASE]

Sugarhigh

I'll be with you in the freezing cold! Ha. I'm just planning on grocery shopping the day before. What about you?

[Capelli11]

Sugar Highs: Yeah they literally have every breakfast food you can think of or want (i.e. eggs, bacon, bananas, cereal, milk, orange and apple juice). What I recommend is that you go to the supermarket which is very close to the house and stock up on frozen food or whatever you like but after the HT you don't feel like slaving over a stove to cook anything so we all pretty much ate frozen pizza and frozen chicken cutlets that we heated up. I know it is not ideal for a great diet but it is what it is for that week. The house has everything you would need to cook it and has plates/cups too. I also recommend bringing some granola bars or something of that nature to snack on which I did and it def saved the day! You can't really leave the house for a few days afterwards so stock up on everything the night before. Let me know if you have any more questions! When are you going to get your HT?

[SugarHighs]

Hey NewHair and Cap,

 

Yes, I think I will bring some power bars or something like that. I eat like a horse, so I will want to buy my own food or the other guys at the house will think I am eating all the food lol.

 

New hair, I think I'll shop the day before also. I hear there is a supermarket like cap mentioned, so hopefully someone can drive us.

 

Cap, next week! I appreciate your help in posting such a good review, and I will try to also pay it forward to others.