Hoffman Estates, Illinois
Taking just a day trip into Vancouver, B.C. Where is the best place to exchange currency. Or, is it better to use credit card?
I believe Vancouver Bullion & Currency Exchange in downtown Vancouver provides one of the best exchange rates in town. A few years ago I used their service to sell USD for some CAD, and their rates were the best at the time.
Check out their reviews here: http://www.yelp.com/biz/vancouver-bullion-and-currency-exchange-vancouver
I was just up in Vancouver over Memorial Day weekend. If you have a credit card that doesn't charge foreign transaction fees, like the Chase Sapphire or any of the airline/hotel cards, I recommend going with that. It's much more convenient and most places take credit cards, even the non- chip-and-PIN American ones. Plus, you'll earn miles, points, or cash back if you card gives you those.
That said, it probably won't hurt to have $50 to $100 in Canadian dollars as backup. Local banks here in the US will have that on hand. If not, they will be able to order it for you. Just note that there might be a fee associated with purchasing foreign exchange, though Wells Fargo, for instance, doesn't seem to charge a fee.
Easiest way to get currency at a good rate is just use your ATM card at a Vancouver bank machine. Most credit cards charge a foreign transaction fee of 1-3%, so don't use credit cards unless they say they don't charge this fee.
I spent 36 hours in Vancouver last November and just got money out of the ATM while in Canada (as I always do when traveling internationally). You get the best exchange rates--just watch for ATM fees. Almost all the places we visited and ate at took credit cards though and I used my no foreign transaction fee card to make purchases. My suggestion--take out the cash once in Vancouver. Its a fantastic city! Enjoy!
I use https://www.mycurrencybuddy.com ... they show all of the banks and currency exchange rates. It has saved me a lot of time and money. I definitely won't be exchanging at the banks anymore.
Bank is probably your best bet, but sometimes they require you to have an account there, so next place would be a currency exchange booth. You will almost certainly get charged with foreign transaction fees if you use your credit card, unless you have a card that explicitly says "no foreign transaction fee." If you're going to be traveling, I would suggest you get yourself a bank card from the likes of Charles Schwab, First Republic or Fidelity. They have zero foreign transaction fees, zero ATM fees and the best foreign transaction rates. I'm with Schwab, and I simply pump cash out of the nearest ATM. Have fun!
Not sure where to exchange currency but I'm sure there are places and banks that can exchange to US. personally I would just use credit for the day. That's what we do when we go across to the states.
I really got an excellent exchange rate at KnightsbridgeFX. The rates are awesome and the customer service is great!
1285 W Broadway #600
Vancouver, BC, V3S 0C8,
Telephone: (604) 229-1065
You'll usually get a better rate exchanging money at a currency exchange than using credit card. A good place to exchange money would be Vancouver Bullion & Currency Exchange Ltd
I suspect the savings will be nominal (depending on how much you plan to spend).
For a day trip, just use your credit card - much easier but you will pay about a 2.5% exchange fee on you card. Most stores or restaurants will accept US currency.