How to go shopping in the United States after immigrating to Canada

We are in Canada, have Canadian passports or American visas, and often go to the United States to play and do some shopping. Then there is a slight headache. What are the good ways to bring money and spend it in America? Which is more economical? It is always necessary to prepare a little dollar bill.

First of all, it is essential to prepare some dollars. You may need some cash, because you have to go through customs, high-speed toll stations, take buses, pay meters, tip, and even deal with being robbed in the United States. How to exchange dollars for cash?

If the quantity is small, go to the top five banks in Canada, and the exchange rate loss can be ignored. Generally, banks in Canada will charge you a 4% handling fee, that is, if you change 100 dollars, you may get 96 dollars. (HSBC may be cheaper in the bank). If you want to change a large amount, say, 1,000 yuan or 800 yuan, you can find a private exchange, and you can save a little according to the compromise between the bank's buying price and selling price. If you can't find a private exchange, you can try Western Union and other exchanges. Since you want to rob the bank's business, it is generally cheaper than the bank 1-2%.

In the internet age, there is an e-commerce version of remittance, that is, online remittance, which can be cheaper than physical stores, but it may take several working days. If you want to save more money, you can make preparations in advance. They do it online, and the dollars in their accounts are a little cheaper than cash.

Finally, there are exchange offices such as airports and railway stations. Just as a bottle of coke will sell you more money at the airport, airports and railway stations are definitely the most expensive. You usually change it here.

Here is a brief list of ways to exchange dollars:

private exchange

Online remittance website

Western Union and other exchanges

Major banks

Airport and station exchange bureau

How to compare exchange rates?

If the exchange rate sounds confusing to you, why not simply ask: 1000 Canadian dollars?

Take a pen and paper, record what you hear, arrange them in order, and find out which one can get the most dollars. Please note that some exchanges may charge service fees or commissions. Ask clearly, do you want these miscellaneous expenses?

As a backup, a credit card is necessary.

Besides cash, we also need to prepare credit cards. Credit cards are convenient and safe after all, as long as there is money in them, ok? Endless? .

Canadian dollar credit cards of Canadian banks can be used in the United States, but generally speaking, in addition to the above bank exchange rate, credit card companies have to charge 2.5% international service fees. Just like foreigners buying a house in Vancouver, they have to pay 15% tax. If we go to America once in a while, we won't spend too much money. When cash is not enough, it is not a problem to use a Canadian credit card temporarily. In particular, Ontario's consumption tax is 13%, and the consumption tax in the United States is much lower, so even if the exchange rate of Canadian dollars to US dollars is lost, plus the 2.5% international service fee, it may be similar to what you spend in Canada, or even a little cheaper. Think like this, psychological balance?

However, the exchange rate of the credit card was not set at that time, but was set according to the exchange rate when it was actually recorded, so the real exchange rate will not be seen until you receive the bill.

In particular, Visa debit cards from Canadian banks are also available in the United States.

If you often go to America, you'd better open a dollar account and get a dollar credit card. The top five banks in Canada can do it at any time, up to half an hour. In this way, you can choose to buy dollars at the most favorable exchange rate and deposit them in the dollar account. If you use a US dollar credit card in the United States, there will be no additional 2.5% international service charge.

However, dollar accounts often have monthly fees; Dollar credit cards usually have an annual fee. Some cards can be refunded if they spend more than 1000 yuan. Some credit cards can be refunded. So choose according to your own needs. Another advantage of some American credit cards is that they contain American travel insurance.

In addition, you can also choose to open an account in a bank of America and apply for a Visa debit card when you arrive in the United States. Some American banks, such as Bank of America, welcome Canadians to open accounts in the United States. You don't need an American address, just open an account with a passport and a Canadian address. The bill can be sent to Canada.

Here are some simple ways to bring money to America:

Dollar cash

Bank of Canada Canadian Visa debit card

Canadian Bank Canadian Dollar Credit Card

Open a US dollar account in a Canadian bank and apply for a US dollar credit card.

After entering the United States, open an account in an American bank and apply for a Visa debit card.

In practice, if you just go to the United States for a few days, play several times a year, exchange dollars and use a Canadian credit card as a backup, there is no big problem. If you often go to the United States, in addition to changing some cash reserves, you can also open US dollar accounts and US dollar credit cards in five major banks in Canada. If you are equivalent to half an American resident, you can open an account and apply for a card in an American bank, just like living in the United States.