If you're travelling to Canada, it's helpful to know a little about the money that you'll be using when you're there.
Money
Sales Tax
More Canada Travel Quick Tips
Money
- All of Canada uses the Canadian Dollar.
- Most places, especially those near the Canada / U.S. border, will also accept U.S. dollars, but exchange rates may vary or be unfavourable.
- Bills are commonly available in $5, $10, $20, $50 and $100 dollar. The $1 and $2 bills have been replaced with coins (the loonie and the twoonie).
- Canadian bills are brightly coloured, making them easy to distinguish from one another. All American bills, on the other hand, are green. (Along with better beer, the fact that we have introduced colour to our money is a point of cultural pride for Canadians.) Check the current Canadian rate of exchange.
- Should you need to visit a bank to exchange money, note that banks are generally open Monday - Friday 9 to 5 pm (sometimes later on Thursdays and Fridays), sometimes Saturday mornings, but never on Sundays.
- Popular Canadian banks include: CIBC (Canadian Imperial Bank of Commerce), the Royal Bank, th TD (Toronto Dominion)Bank, Bank of Montreal and Scotia Bank.
- Interac / Debit / Bank card purchases are available at most restaurants, hotels and retail outlets (although not at our beloved Tim Horton coffee shops), and at any bank or ATM machine, you can withdraw Canadian funds from a foreign currency account.
- Major credit cards, including Visa, Mastercard, and American Express, are widely accepted.
Sales Tax
- Visitors to Canada may give their restaurant or shopping receipts a double take if unfamiliar with the Canadian tax rate for goods and services. For example, in Toronto a $100Cdn shopping spree becomes $115Cdn after tax.
- The good news is that visitors may apply to get a refund on the taxes they have paid while in Canada. Learn how to get your visitor tax refund.
- The tax that consumers pay for goods and services (except those considered exempt) varies across Canada. The minimum amount that visitors will pay is 7% and the most is 15%. Find out sales tax rates by province.
- Tipping works much as it does in the U.S.
- A 15% - 20% gratuity is standard at most restaurants.
- Taxi drivers, baggage porters, valet drivers, and salon employees, such as hair stylists, also appreciate tips.
- Cup of Coffee (Tim Hortons): $1 - $2
- Cup of Coffee (Starbucks): $2 - $5+
- Parking downtown in major city: about $2 per hour or $15 per day.
- Case of 24 beer: $25 - $40
- Glass of wine at bar / restaurant: $5 - $8
