1. 1.

    Compare from as many travel money companies as you can to find the highest exchange rate.

  2. 2.

    Save money on delivery charges by choosing to have your currency sent to a nearby store for collection, if possible.

  3. 3.

    Check for companies that offer higher rates on larger orders; some even scrap their delivery charge if you order over a certain amount.

The best rates are usually found online rather than on the high street or at the airport

What to look out for when buying Canadian dollars

  • Exchange rate: This is the amount you get in return for your money; for example, if the rate is 1.95, you will get 1 dollar and 95 cents for every pound you exchange.

  • Delivery charge: To have your currency delivered you will often need to pay a fee, such as 5, but many offer this service for free.

What is the Canadian dollar?

It is the official currency of Canada and is made up of 100 cents.

The Canadian dollar uses the currency symbol $ but can also be seen as $CAD when compared next to other dollar currencies; like the US dollar.

What coins and notes can you get?

  • Cent coins: 5, 10, 25 and 50

  • Dollar coins: 1 and 2

  • Dollar notes: 5, 10, 20, 50 and 100

The 100 dollar note and the 50 cent coin are rarely seen in circulation.

You will only have notes delivered if you order your Canadian dollars online, not coins.

Canadian dollar FAQs

Q

Will I get the same Canadian dollar rate on the high street?

A

No, the rates online are often better than the high street because online companies need to be more competitively priced to attract you.

Q

Can I use US dollars in Canada?

A

Not usually, but you can exchange US dollars into Canadian dollars in Canada. To get the best deal first time, buy your Canadian dollars before you travel.

Q

Is it safe to order Canadian dollars online?

A

Yes, but make sure you buy from a company that is authorised by the FCA. Visit the FCA website to check if a company is registered or not.

Q

Can I use my credit card to buy Canadian dollars?

A

Yes, but you will be charged by both your credit card company and the travel money company for purchasing travel money with your credit card.

Q

Are paper Canadian dollars still valid?

A

Yes, but they are being phased out and replaced by polymer ones.

Q

Is my travel money protected abroad?

A

No, unless you take out a travel insurance policy that covers your cash when you are abroad. You can compare travel insurance here.