The best advice for people traveling in Canada is to trade in U.S. dollars for some of the local currency. You can do this at exchange booths, border crossings, and large shopping malls, but for a better exchange rate, go to a Canadian bank.

What is a good exchange rate for US to Canadian?

Best U.S. Dollar to Canadian Dollar Exchange Rate Today: 1.2492.

Should you exchange money before going to Canada?

When you travel, you should exchange some of your currency beforehand in case you have trouble finding a hospitable currency exchange rate when you arrive. Contact your banks and credit card companies to find out the fees for withdrawing money in a foreign currency.

Is US dollars accepted in Canada?

Short Answer: No. According to the Canadian Currency Act, the Canadian dollar is the official currency of the multi-cultural country. The law also states that all accounts maintained or founded in the country must be in Canadian funds. This technically means that American money is not accepted in Canada.

Can you use US debit card in Canada?

For example, a United States-issued Bank of America debit card will work at Canadian retailers, but the user does incur a three-percent foreign transaction fee for each purchase. Even if your debit card does not work for point-of-sale purchases, it can be used to withdraw Canadian currency from ATMs in Canada.

Which Canadian bank has the best US exchange rate?

CIBC has branches all over Canada, and they provide an exchange service in every branch.