Do the Toronto area Girls accept American Currency

[bluequad]

I'm considering another trip to Toronto toward the end of the month for a few days but the last few times I've made the trip North it has become harder to exchange more than a few hundred dollars from American to Canadian without the banks giving me a difficult time since I'm not a member of the bank and they raise all sorts of red flags when you want to exchange more than $1,000. The last time I did this, the bank manager actually called my bank here in New York to verify I was a customer of theirs and not a criminal doing something shady! Then when I'm returning to the States it's even harder because the banks don't keep much American money on hand. I used to just go to those little Green roof currency exchange buildings near the border but I guess they don't exist anymore. My other option is the casino in Niagara Falls but that's a pain in the neck too. You have to find a place to park, walk quite a ways, get a decent exchange rate to Canadian money but not so good exchanging it back to American etc. So my question is, do the girls accept American money and if they do, would it be at par or at whatever the current exchange rate would be? it would be so much easier if they do. I could use my credit card for Hotel and food and just avoid all the hassles of exchanging money. Thanks in advance for your replies!

[b2bw]

I'd imagine most would take it at par at least, considering it is stronger.
Why not just take money out from an atm rather than converting?
You'll have to pay the atm fee, but its only a few dollars.

Normally what I do when travelling...

[toban]

Agree!

I'd imagine most would take it at par at least, considering it is stronger.
Why not just take money out from an atm rather than converting?
You'll have to pay the atm fee, but its only a few dollars.

Normally what I do when travelling...

I have to agree with b2bw’s suggestion here but with this caveat - if you are going to visit several ladies in one day you may need to arrange with your bank to increase your daily cash withdrawal limits but in the end using CC card for cash should work well for you. I notice too, that quite a number of girls are accepting Ccards these days so that could help too! I’d also suggest using machines tied officially to one of the Canadian banks because there are many private machines, especially those located in hotels, which may add a hefty fee for their use.

As a frequent traveller to the US myself, I never exchange actual cash for the very reasons blue quad has mentioned, plus trying to sell back any excess US currency usually incurs a very expensive charge in addition to the official exchange rate.

A real advantage that I have found is that the exchange rate used by the Credit Card company is very close to the official exchange rate and changes frequently, as the rate officially changes minute to minute, so that items purchased minutes apart often come through with slightly different rates e.g. 1.289513513 / 1.302104548 / 1.289855072 on three purchases all charged within about one hour’s time a couple of weeks ago.

In any case the CC rates are always much better than those charged by stand-alone currency exchanges.

[Ray]

Hey Rob, glad to see your thinking of returning to Canada for some fun time. I have personally never had a problem with any of the girls I have seen taking American money and at this time I would think it would be even less a problem. If you pay them at par, they can probably make some extra money when exchanging it at their bank. One thing about the girls who accept credit cards. I know Lucy charges quite a hefty fee for using your credit card and I would imagine others do as well. Plus, many credit card companies charge a fee for international purchases.

[toban]

Hey Rob, glad to see your thinking of returning to Canada for some fun time. I have personally never had a problem with any of the girls I have seen taking American money and at this time I would think it would be even less a problem. If you pay them at par, they can probably make some extra money when exchanging it at their bank. One thing about the girls who accept credit cards. I know Lucy charges quite a hefty fee for using your credit card and I would imagine others do as well. Plus, many credit card companies charge a fee for international purchases.

I have never experienced a charge for ?international purchases? as far as I can recall.

I have used both MasterCard and Visa bank issued cards at different times in the US and also for on-line US purchases as well with never a special charge being applied so I wonder if this is a charge normally made only by American banks or Ccards ?

[bluequad]

If the girls do accept American money, even at par then that's probably the way to go. If the girls that accept credit cards charge a fee and the banks charge a fee, then that eats up the exchange rate difference or pretty darn close. I haven't decided for sure whether I'm heading up to Toronto yet. I have to iron out a few things with work first but I sure would like to. I have that all too familiar yearning! LOL

[Ray]

I have a Visa card through Chase bank and I am always charged an international service fee. Now there are programs where this is waived but I like the program I am in with United Airlines and in as much as I don't use my card a lot in Canada or Europe, I'll pay the occasional fee.

[toban]

I have a Visa card through Chase bank and I am always charged an international service fee. Now there are programs where this is waived but I like the program I am in with United Airlines and in as much as I don't use my card a lot in Canada or Europe, I'll pay the occasional fee.

Is that ?international transaction fee? a percentage of the total charged or is it a simple flat fee?

Currently the rate at noon Friday was 1.2465 so given a $300 USD donation e.g., would net her nearly $375 CDN - a very nice tip!

[Ray]

It appears to be a 3% fee for international transactions Mr. Toban.

[toban]

Uh, Ooooh

It appears to be a 3% fee for international transactions Mr. Toban.

Thanks Ray.

I am going to have to think more carefully about whether I may have been dinged for such a charge. While I have never been charged specifically for ?international? use I have to wonder if the CDN C-card issuers haven?t simply included such a charge in the rates without mentioning it by name.

As I previously mentioned I have always only paid a single rate for US purchases but now since it appears that US banks/cards add such a service fee I am now unsure if the greedy Canadian bank/C-card hasn't quietly added such a service fee to the official exchange rate without mention of it.

Next purchases will be more carefully scrutinized!

[bluequad]

Toban, I would also like to mention that you get close to the bank rate of exchange (minus about 3% as Ray pointed out) by using a credit card for purchases, but not nearly that good of a rate when exchanging money. It's my understanding that those rates are for exchanges from bank to bank but there are no laws that require a bank or any other place to use that rate with a person exchanging money. Banks, Credit Unions, Casino's etc. can use any rate they choose and it's not the same both ways. American to Canadian might give me one rate and Canadian to American I might get a different rate. That's why we have to shop around for rates. It's nuts!

[toban]

Re: International Service Fees

I have spent some time this morning tracking the official exchange rates for the specific dates when I have made US purchases on my CCard over the last four months.

I have found that the exchange rate charged for those eight purchases was, on average, 0.0428% above the official exchange rate. So what this means then is that, in my case, Mastercard, has added a bit more than 4% to my American purchases without specifically stating that fact up front.

It seems then that CDN Master & Visa Cards have surreptitiously imposed extra charges on foreign purchases without so identifying that charge as their American cards have apparently done. Not nice!

[candyhilton]

any Canadian girl that dosent take US currency would have to be an idiot.
it will always be higher than Canadian $$$

[Rockheart]

Just leave your money in the bank and take out Canadian with your ATM card.
It is as simple as that!

Sure you may get a slightly higher exchange rate or a small fee.
However, just think of how much time and work this will save you.
All the time you waste bringing the money and going to banks etc. is all worth time and money.

The other thing is exchanging it at your home bank and just bringing Canuck money.
I can almost guarantee that the exhange rate and fees at a Canadian ATM will be better.

I travel all over the world and NO Canadian bank EVER charges me extra for taking out money in another country.
The exchange rate may be different but they do not charge me extra fees.
The ATM machine may or may not charge and additional fee but just take out more at once.

Take the easy route and save youself time and hassle.
THE AMOUNT YOU SAVE IN EXCHANGE AND/OR SERVICE FEE WILL NEVER EQUAL THE COST OF YOUR TIME UNLESS YOU ARE EXCHANGING MASSIVE AMOUNTS.
My time is worth at least $100 per hour, spending several hours trying to save a few bucks on exchange and fees makes zero sense.
(Your time is not free, even though it seems it is)

thanks

[Rockheart]

I have spent some time this morning tracking the official exchange rates for the specific dates when I have made US purchases on my CCard over the last four months.

I have found that the exchange rate charged for those eight purchases was, on average, 0.0428% above the official exchange rate. So what this means then is that, in my case, Mastercard, has added a bit more than 4% to my American purchases without specifically stating that fact up front.

It seems then that CDN Master & Visa Cards have surreptitiously imposed extra charges on foreign purchases without so identifying that charge as their American cards have apparently done. Not nice!

I have never seen an extra charge for an international purchase ever on my Credit card.
Sure the exchange rates are higher than official exchange rates, however ALL banks and CC companies charge a higher rate than the posted rates, ALWAYS. This is how they make money.

If you want to avoid these purchase fees take your money out of your bank account with an ATM and pay cash.
The ATM rate is exactly the same as the post rate for that bank, and the same as going to a teller.
Often the ATM rate will be better than exchanging at your home bank.