Buying Canadian dollars in Canada

cityflyer

I've been looking around for the best rate to buy 600 CAD$. Thomas Exchange Global offer the best rate at 1.95 (down from 1.97 2 days ago).

But am I likely to get a better rate than 1.95 if I convert my pound notes into CAD$ when I arrive in Canada?

Advice would be gratefully appreciated.

withabix

Hang on while I get my crystal ball out....

It all depends when you are going.
Exchange rates vary every day.
It also depends where you are getting your currency, who you bank with, whether you're getting your currency out of a cash machine or at a currency exchange.
It depends who's cash machine it is and if they have an alliance with your bank.

etc

If you were using a Barclays Connect debit card today in a Scotiabank cash machine (for example), you would actually get 2.00 Canadian Dollars to the GBP.

BenL

Have you got a Nationwide debit card and bank account? This is the best way to get currency and the VISA rate today for exchange is $2 CAD to the £1.

How much is needed as actual cash?

Hotels, meals, shops etc can be put on a credit card with 0% loading.

Abbey Zero
Nationwide CC
Post Office

These cards will also get the VISA rate or similar Mastercard rate (not found this published yet though)

Using these methods reduce the amount of cash you need to change minimizing the exchange rate loss.

withabix

Daily rates for using Visa branded cards can be found here:

http://www.corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp

Enter your bank's fee percentage in the box. Normally 2.75% or 2.99% or 0% for some (Nationwide etc).

For Barclays customers in Canada, it's only 0% if using a Barclays Connect card in a Scotiabank cash machine.