On Fri, 10 Sep 2004, Anthony Verno wrote:
> Can any of you good folks up in the great north country tell me where to
> get the best currency exchange?
Most of the major American ATM networks are linked to the Canadian ATM
network, and you can generally withdraw money in Canadian dollars from
these ATM's and have it withdrawn from your American account in American
dollars at whatever the inter-bank exchange rate is on that particular
day. I don't know about "best" rate (depending on the ATM there may be a
fee, sometimes significant), but it certainly is the most convenient way.
To quote Frommers:
ATMS
The easiest and best way to get cash away from home is from an ATM
(automated teller machine) -- often called an ABM in Canada. The Cirrus
(tel. 800/424-7787;
www.mastercard.com) and PLUS (tel. 800/843-7587;
www.visa.com) networks span the globe; look at the back of your bank card
to find out which network you're on, then call or check online for ATM
locations at your destination. Be sure you know your personal
identification number (PIN) before you leave home and be sure to find out
your daily withdrawal limit before you depart. Also keep in mind that many
banks impose a fee every time a card is used at a different bank's ATM,
and that fee can be higher for international transactions (up to $5 or
more) than for domestic ones (where they're rarely more than $1.50). On
top of this, the bank from which you withdraw cash may charge its own fee.
To compare banks' ATM fees within the U.S., use
www.bankrate.com. For
international withdrawal fees, ask your bank.
You can also get cash advances on your credit card at an ATM. Keep in mind
that credit card companies try to protect themselves from theft by
limiting the funds someone can withdraw outside their home country, so
call your credit card company before you leave home.
If your ATM is associated with a small community bank or credit union, it
may not work at all ATMs in Canada, particularly the non-bank ATMs found
in convenience stores and public facilities. In such cases, simply find a
bank ATM that will honor the card as long as it belongs to a major ATM
network.