Best way to pay in Canada

[FrankLeigh]

I am Canadian and have had my US dollar Visa card cancelled because I used it in Buffalo and Las Vegas on the same day. I guess that they are trying to protect us from identity fraud but I am not really willing to give my travel plans to Visa.I guess that cash is still king.

[yarcraft91]

Originally Posted by chevtow

When you leave the country you should call the credit card companies you intend to use and make them aware of your plans. I've always done this and never have problems in any country. Many of them have the little notes on your statements stating this very fact. I usually pay with dollars in Canada, seeing as pretty much everyone takes them. Credit cards are reserved for major repairs and unforeseen expenses.

Yep- let the CC company know about your travel plans. That's what I do and never a problem with the cards anywhere in the world. Do I care if Visa knows I'm traveling? No. Whenever I charge something they know exactly where I am and when I was there, anyway.

If, as said by another poster, Canadians no longer want US cash, that's new. I've never had trouble with US cash in Canada, in fact, that's how our guide wants to be paid. Grocery stores take US currency and the exchange rate is programmed right into their cash registers. But, I only know about the Prairie Provinces, not the eastern ones.

[lcwhit]

the issue is more one of protecting the banks than the customer. they dont want the liability associated with stolen cards. they have some pretty sophisticated software to spot oddities in purchase histories-amounts and locations etc. they will cancel and ask questions later. the burden is on you to call them to reactivate the cards.

[gapwedge]

When I went to Canada in July the exchange rate was 3-4%. The dollar has since gotten stronger and is now only discounted about 1%.

While the unfavorable exchange rate of US dollars is a factor, it is minor compared to the excessive profits the banks seek to make in exchanging US dollars into canadian dollars. My bank sought to charge me about 9% to make the exchange when the exchange rate was only 3-4%.

It is my understanding that the Canadian banks are similarly greedy in as much as when your lodge owner or store merchant takes the US dollars you hand him to his Canadian bank for conversion and deposit, they hammer him with a fee in addition to the exchange rate then in effect.

I'm curious about the fee charged at the border to make these exchanges. Thanks for the reply.

[walley250]

We always stop at Pembina and get our US money switched to Canadian and then back to dollars again on our way home. We get this done at a gas station up there. Never paid much attention to if we were getting ripped or not. Maybe it would be something to pay attention to.

[Jig A Lowe]

Originally Posted by Obabikon

The US dollar has been devalued drastically. Hopefully it turns back the other way, because it's been devastating for most resorts.

Well, the resorts always have the option to lower their prices to offset the weak dollar. I would think that would be a good business decision. If US customers cancel their Canadian vacation because of the unfavorable exchange rate and then vacation state-side, it may be hard to get these people back.

I have been going the the same lodge for over 20 yrs. The prices increase by appx. 5% every yr. irrespective of the exchange rate at the time. The cost of our lodging is now appx. 2 1/2 times what it was 20+ yrs ago. And, the cost to me is even greater with the unfavorable exchange rate. And, yes, the vacancy rate has been steadily climbing.

I understand why resort owners would be reluctant to lower prices to offset the exchange rate but it may be the lesser of evils. Canadian resort owners have taken many blows the past few yrs. -- the passport requirement, the high cost of gas, changing fishing regulations, the weak US economy and, of course, the exchange rate. All of these factors have discouraged US visits to Canada. The one factorthat the resort owners could impact would be the exchange rate by adjusting prices downward somewhat. I think many US visitors would consider that to be very nice gesture.

[v-bay gord]

Originally Posted by Jig A Lowe

Well, the resorts always have the option to lower their prices to offset the weak dollar. I would think that would be a good business decision. If US customers cancel their Canadian vacation because of the unfavorable exchange rate and then vacation state-side, it may be hard to get these people back.

I have been going the the same lodge for over 20 yrs. The prices increase by appx. 5% every yr. irrespective of the exchange rate at the time. The cost of our lodging is now appx. 2 1/2 times what it was 20+ yrs ago. And, the cost to me is even greater with the unfavorable exchange rate. And, yes, the vacancy rate has been steadily climbing.

I understand why resort owners would be reluctant to lower prices to offset the exchange rate but it may be the lesser of evils. Canadian resort owners have taken many blows the past few yrs. -- the passport requirement, the high cost of gas, changing fishing regulations, the weak US economy and, of course, the exchange rate. All of these factors have discouraged US visits to Canada. The one factorthat the resort owners could impact would be the exchange rate by adjusting prices downward somewhat. I think many US visitors would consider that to be very nice gesture.

Yes, that would be a very nice gesture....similar to the band playing as the Titanic went down!

By the way, 20 years ago the price for gas was about $1.12 per gallon.

[tv4fish]

I understand why resort owners would be reluctant to lower prices to offset the exchange rate but it may be the lesser of evils. Canadian resort owners have taken many blows the past few yrs. -- the passport requirement, the high cost of gas, changing fishing regulations, the weak US economy and, of course, the exchange rate. All of these factors have discouraged US visits to Canada. The one factorthat the resort owners could impact would be the exchange rate by adjusting prices downward somewhat. I think many US visitors would consider that to be very nice gesture.

Gord: You can't argue with facts. JMO - But do you want an empty resort due to these circumstances OR do you want people continuing to come there and you're just NOT making quite as much $$$'s. The man has a valid point.

[LOW1]

We opened an account at a Canadian credit union and receive a fair exchange rate. By depositing American dollars into the account and then paying in Canadian dollars we frequently save about 4 or 5% over paying directly in American dollars. No account fees if a modest amount (more than $1000) is kept in the account.

[v-bay gord]

Originally Posted by tv4fish

Gord: You can't argue with facts. JMO - But do you want an empty resort due to these circumstances OR do you want people continuing to come there and you're just NOT making quite as much $$$'s. The man has a valid point.

Of course the point is valid. My observation from this geographical area is that most have kept their rates the same for the past few years.......so in fact they are already not making as much $$$. The other bothersome fact is that people need to make a profit to continue doing maintenence and upgrades....never mind having something left to live on.

I guess my reaction is that the point was much more valid 4 or 5 years ago when things were much better all around. Today cutting rates further comes at the expense of something else (maintenence, equipment, sanity)......and that is unsustainable.