Monday, July 19, 2010

When paying for a fishing trip in Canada, is it better to pay in U.S. cash or Canadian cash?

Last year, our resort wrote up our bill, calculated the conversion rate and then charged our credit card. I thought by using a credit card we got the best exchange rate but it seems like they might be pulling a bit of a fast one. Thought if I brought cash instead, I could avoid their games.|||I;m sure Canadian money would definately be better for it is Canada. Like how us Americans may get annoyed with Canadian cash, we want the REAL stuff. Really if American money is worth more then I;d bring a fotune with me buy the country.|||Pull out cash, don;t ask for a receipt and you;ll get a deal.|||Odd - the resort is within it;s rights to charge a fair bit extra to make the exchange. Normally, they would just bill the credit card company, and then the bank would make the exchange - usually at a fairly decent rate. It might not have been a fast one, but it certainly was not the best way for you!As for paying in US cash - if they took it, and that is a big if, they may not, they would certainly charge a much higher percentage than a bank. Banks deal in large volumes, so can give better rates (although still not as good as an electronic transfer). However, a business bringing in a relatively small amount gets charged a high rate, so they will pass that on to the customer, with likely a surcharge to handle all the fuss. Best would be to just hand over the card, have it charged in Canadian dollars, and let the bank figure out the actual charge in US funds (with their smaller fees).|||It would be best to pay in Canadian dollars. Most border towns will offer a decent exchange rate, but in all honesty if you try and pay in US dollars in a smaller town they may not accept it. Generally if they do accept it, you;ll get the crap end of the deal. My husband is a Canadian but is a truck driver and often has US money. A few times we;ve been out of cash and he;s only had his work money on him. A few times when the dollar has been about par with Canada weve taken a LOSS using american money despite what the bank rates are. Just change it to Canadian.

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