Banking and Currency

Banks

Banking hours are generally from 10:00 a.m. to 4:00 p.m., Monday to Friday; some banks are now open on Saturday and Sunday's.  ATMs (automated teller machines) are found at banks and in retail areas.

Canadian Currency Exchange

The monetary system in Canada is based on dollars and cents. To avoid exchange problems, visitors are urged to exchange their funds to Canadian dollars at a bank or a foreign currency exchange outlet where they will receive the current rate of exchange. Click here for an on-line currency converter.

Credit and Debit Cards

Interact, Visa, MasterCard and American Express are widely accepted in Canada.You can use any major bank debit card for the Interac system with just about every automatic banking machine in Canada.The majority of businesses accept debit card payments as well as credit cards.         

Chip and Pin Technology

The Chip and pin system is a more secure technology, already used by many other countries, but it won't be fully implimented in Canada until December 31, 2012.  At this date all banks will no longer accept the old magnetic strip interact cards.  Retailers and accommodations will still be able to use the old magnetic strip until December 31, 2015.