Canadian $ or US $

Discussion in 'General Discussion | Travel' started by sfo1, May 4, 2014.  |  Print Topic

  1. sfo1
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    sfo1 Silver Member

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    Am going to Morocco and wondering how easy it is to exchange CAD $ to MAD or it better to take US $?
     
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  2. Newscience

    Newscience Gold Member

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    Had no problem at all with exchanging USD there last year. I don't know about CAD. But, if you are making other stops along the way, and planning to exchange CAD, why not just buy euros?
     
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  3. sfo1
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    Because then I loose twice in the exchange, once into euros and then again into MAD. I do have some euros for my Madrid stop, and I have plenty of USD and CAD, I have a feeling that USD is more readily exchanged, and right now the CAD is in the toilet where it usually is.
     
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  4. Wandering Aramean
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    Wandering Aramean Gold Member

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    Use an ATM card upon arrival rather than bringing cash. Better rates generally and no worries about what is accepted where.
     
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  5. dayone
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    dayone Silver Member

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    USD is the most easily exchanged foreign currency.
     
  6. euromannn
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    euromannn Gold Member

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    ATM fees GOUGE you.

    IF you use an ATM check for transaction fees which can be 1-4%.
    example: $4.00 for transaction a withdrawal of $100...would make that a 4% fee.
    $4.00 fee and a withdrawal of only $50.00 would be an 8% fee.

    Best to get a VISA/MAstercard/AMEX card that has foreign transaction fees free.

    That's how I travel abroad now due to the ATM fee ripoffs.
     
  7. Wandering Aramean
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    Unless you get an ATM card from a bank which doesn't charge f/x fees and which rebates the fees other ATMs charge you. I've got one and have not paid a fee to withdraw cash in years. I also have f/x-free CCs but I generally prefer having cash on hand in most countries for small transactions, purchases on the street and other things.
     
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  8. newbluesea
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    newbluesea Gold Member

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    You need to find another bank if you are paying 4% to withdraw cash from an ATM:)

    One of the best bank ATM cards to have is a BOA ATM card.
    There are absolutely no charges when you withdraw cash from your accounts from ATMs owned/operated by their International partners like Barclays, Deutsche Bank, BNL and BNP Paribas to name a few. The atms need not be located in the respective home countries of the parent bank
    For example I used Barclays atms in some very small villages in Spain (the Hilton Toledo has one in their lobby)

    Many of the partner banks (again Barclays does) have websites which lists their atm locations and/or show them on a map and you all you have to do is punch in your location and it will indicate the nearest ones and will even give the distances to them.

    I haven't paid a dime for International cash withdrawals in years.
     
    Last edited: May 5, 2014
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  9. Wandering Aramean
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    Schwab. No fees anywhere, ever.
     
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  10. euromannn
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    euromannn Gold Member

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    Agree, it's NOT my bank with the ATM but the foreign bank one might attempt to do a transaction at.

    I once saw a $5.38 ATM transaction fee charged by the local bank at a bank in Copenhagen...I back out!
     
  11. Wandering Aramean
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    Which is why you need a card which rebates those fees. There are a few available.
     
  12. Jenny & Curt
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    If you are eligible, USAA has such fee-rebate agreements, up to $15 per month.
     
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  13. Blue Skye
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    for atm usage abroad, i love using my Bluebird card. so far, no fees charged at the foreign ATMs. i don't mind the Bluebird $2.00 fee (since i don't have direct deposit set up). the exchange rate is exactly what xe.com shows me. i've had great results in NZ, UK, Germany, and Japan.
     
  14. Muerl
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    Bangor Savings bangor.com Rebates ATM Fees everywhere in the world. And if you use an overseas atm and they don't see a fee they assume you got charged and give you $3.

    Have to have a Maine Address though.
     
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  15. euromannn
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    WHY ATM?

    VISA is accepted well throughout ASIA/EUROPE.
    I prefer the charge card where I can contest the price!
     
  16. euromannn
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    Muerl...if we have you on MP..we all now have a Maine address, right?:mad:
     
  17. Wandering Aramean
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    So I can have cash to spend. I made those reasons quite clear in my initial reply.

    There are a number of purchases I've made, even on recent trips, where CCs were not an option. I'm quite happy I had cash on hand - fee-free - in those instances.

    I use a CC, too, but this thread was about how to acquire cash for spending, not what CC to use on a trip.
     
  18. gregm

    gregm Gold Member

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    I do both. I bring a very comfortable amount of cash (USD) to exchange and 2 ATM cards, just in case. No fees are ideal, but when you need cash, you need cash, and there are ATMs almost everywhere.
     
  19. Wandering Aramean
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    I always have USD with me (though not more than a couple hundred dollars) and have yet to need to convert it versus accessing an ATM without paying fees. It is a solid emergency/backup plan, but (knock on wood) I've been OK so far.
     
  20. Muerl
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    I had to use my in-law's address who have since moved so that might be a complication ;)
     
  21. euromannn
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    Muerl,
    In-laws can be replaced but valuable address stay in the family forever!:mad:
     

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