BOBLER Posted October 11, 2007 Report Share Posted October 11, 2007 What is going to be the policy if the excahnge rate stays the same as far as except american currency 1 to 1 for cash? or are US guys going to have to exchange? And what is the present rate that the HI is giving right now if you know BILL? Quote Link to comment Share on other sites More sharing options...
GTSE800 Posted October 12, 2007 Report Share Posted October 12, 2007 That's a good question, I would think rual area's would want the canadian dollar? Quote Link to comment Share on other sites More sharing options...
rob Posted October 12, 2007 Report Share Posted October 12, 2007 That's a great question and I've wondered that myself.. I don't know if Bill or anyone has the answer to that right now. What I'm really afraid of is the rate slipping more by winter. It's going to really hurt if we can only get .90 on a dollar. Man...... Quote Link to comment Share on other sites More sharing options...
smclelan Posted October 12, 2007 Report Share Posted October 12, 2007 Any of the financial guru's I have heard expect the exchange to go to $1.05 no higher. Maybe I should be sledding in Vermont this winter?? Quote Link to comment Share on other sites More sharing options...
plain-rev Posted October 12, 2007 Report Share Posted October 12, 2007 Bobler asked if US guys are going to have to exchange. I would think exchanging at a bank in canada is still the best way. some hotels offer an exchange rate (not the best) but many do not. not everyone is on top of current rates. I know the kid at my local foodmart would have no clue what to do if i gave him money with the queen on it. hahaha Quote Link to comment Share on other sites More sharing options...
Saguenay Bill Posted October 12, 2007 Report Share Posted October 12, 2007 What is going to be the policy if the excahnge rate stays the same as far as except american currency 1 to 1 for cash? or are US guys going to have to exchange? And what is the present rate that the HI is giving right now if you know BILL? I don't have a clue. But the HI is not the place to exchange. When it was $1.10 CA for $1 US the HI was a best $1.05. If you have an ATM card there is an ATM machine in the bar area of the HI and a bank in the shopping complex that is open to the ATM machines at 8AM. It is also open in the evening but I don't know until what time. Me, I use the bank as it is cheaper than the one in the bar. Quote Link to comment Share on other sites More sharing options...
rob Posted October 12, 2007 Report Share Posted October 12, 2007 I think Bobler was asking if Canadian businesses are accepting US funds at par, without an exchange. Some places used to take Canadian at par (even though they were losing on it) as a way of increasing business. It would be nice to think it may work in reverse now, (but somehow I doubt it will). Quote Link to comment Share on other sites More sharing options...
BOBLER Posted October 12, 2007 Author Report Share Posted October 12, 2007 I don't have a clue. But the HI is not the place to exchange. When it was $1.10 CA for $1 US the HI was a best $1.05. If you have an ATM card there is an ATM machine in the bar area of the HI and a bank in the shopping complex that is open to the ATM machines at 8AM. It is also open in the evening but I don't know until what time. Me, I use the bank as it is cheaper than the one in the bar. Here is my thinking, I budget 10,000 for sled trips thru out the season, if i use my atm card there is no atm charge but there is a 1% foreign currency charge so my net return would be 9,900 plusw the little bit of hasle to find the atm's which really is not that big of a deal. Now if plain exchange cash, which at times is all some of the remote areas take, there is about 2 1/2 to 3 % charge so my 10,000 is now 9750. Of course this is figured at 1 to 1 rates. I just want to be prepared alittle, if the businesses are excepting am at 1 to 1 right now that would be the way to go for me Quote Link to comment Share on other sites More sharing options...
Andyman Posted October 12, 2007 Report Share Posted October 12, 2007 Not that I go there very much but the local liquor store was only giving 98¢ per American $ a couple of days ago. I have spent the majority of my life living very close to the border and very frequently I have seen the businesses near the border have promotions to attract customers by giving a very attractive exchange rate on both sides. I have to go to New Hampshire next week for work and my intention is to exchange a small amount of cash to American money and use my credit card as the exchange is approx 2% better than if I go to the local bank here and buy American cash. I personally think the best approach for you guys coming north is to take Bill's advice and go to an ATM and get CDN cash and use your cc when able. Like Bill says go to a bank ATM not one you find at JR's or a bar or hotel because they cost extra for the convenience. As well I think like the others have said you will not get a fair exchange if you use your American cash. Just my 2 cents worth! Canadian or American!!! Andy Quote Link to comment Share on other sites More sharing options...
rob Posted October 12, 2007 Report Share Posted October 12, 2007 our banks now charge a 'foreign transaction fee' on CC purchases, so I find it better to use ATM and pay cash. Quote Link to comment Share on other sites More sharing options...
BOBLER Posted October 12, 2007 Author Report Share Posted October 12, 2007 I am headed to a sled show tomm in at the big e in mass, a few of the motel owners and tourism boards have reps there, I will ask and see what they say Quote Link to comment Share on other sites More sharing options...
BERNARD Posted October 12, 2007 Report Share Posted October 12, 2007 our banks now charge a 'foreign transaction fee' on CC purchases, so I find it better to use ATM and pay cash. Thats right rob A.T.M. However when us canadians had to go to the states for a Snow Show at an exchange rate of 10 20 30 40 48%. The organizers would not go at Par for the show. and some sledders are having a hard time with 5%. Myself at the safari Motel will give 10% off all rooms with two people,if they are reserved before Dec 9. I do not think the exchange rate will go that hight. I would use the ATM to the Maximum. I just hope you sledders never half to put up with 48%. Quote Link to comment Share on other sites More sharing options...
BERNARD Posted October 12, 2007 Report Share Posted October 12, 2007 Any of the financial guru's I have heard expect the exchange to go to $1.05 no higher. Maybe I should be sledding in Vermont this winter?? Thats a good Idea. Quote Link to comment Share on other sites More sharing options...
GTSE800 Posted October 12, 2007 Report Share Posted October 12, 2007 Thats right rob A.T.M. However when us canadians had to go to the states for a Snow Show at an exchange rate of 10 20 30 40 48%. The organizers would not go at Par for the show. and some sledders are having a hard time with 5%. Myself at the safari Motel will give 10% off all rooms with two people,if they are reserved before Dec 9. I do not think the exchange rate will go that hight. I would use the ATM to the Maximum. I just hope you sledders never half to put up with 48%. 48% Ouch! :sad: A lot less people would be crossing the border, and the trails back in the states would be pretty crowded :sad: that's if there is snow. :sad: Quote Link to comment Share on other sites More sharing options...
Andyman Posted October 12, 2007 Report Share Posted October 12, 2007 our banks now charge a 'foreign transaction fee' on CC purchases, so I find it better to use ATM and pay cash. My bank charges a 2.5% foreign transaction fee as well but it is still cheaper for me than buying American cash here at my bank. We just took a trip to Nashville and I had read some articles that were talking about this transaction fee so I thought I would be smart and take lots of cash with me to save a few bucks. Well after I got my credit card bill I compared the exchange and the charges that I made in Nashville were approx 2% better exchange than what I had paid here for cash. The credit card companies use the daily bank buying rate and add their 2.5 % but the local bank doesn't use the same rate as they have what appears to be a built in commission for them. As if they needed more money! The time interval between when I bought my cash and used my card was only a couple of days apart and the dollar was very close to the same value. Andy Quote Link to comment Share on other sites More sharing options...
BOBLER Posted October 12, 2007 Author Report Share Posted October 12, 2007 My bank charges a 2.5% foreign transaction fee as well but it is still cheaper for me than buying American cash here at my bank. We just took a trip to Nashville and I had read some articles that were talking about this transaction fee so I thought I would be smart and take lots of cash with me to save a few bucks. Well after I got my credit card bill I compared the exchange and the charges that I made in Nashville were approx 2% better exchange than what I had paid here for cash. The credit card companies use the daily bank buying rate and add their 2.5 % but the local bank doesn't use the same rate as they have what appears to be a built in commission for them. As if they needed more money! The time interval between when I bought my cash and used my card was only a couple of days apart and the dollar was very close to the same value.Andy Thats exactly what I am tryingto get at, if the businesses will are planning on taking us currency on par (why not they took it on par when the rate was in their favor) I will use american cash Quote Link to comment Share on other sites More sharing options...
BERNARD Posted October 13, 2007 Report Share Posted October 13, 2007 Thats exactly what I am tryingto get at, if the businesses will are planning on taking us currency on par (why not they took it on par when the rate was in their favor) I will use american cash BOBLER; Years ago i was with my truck in Newark, N.Y and i went to a Restaurant to eat. I was only in the States 8 hrs, So i had no American Money. I tried to pay my food with Canadian money, and they called the COPS. So i would say, while in the U.S. spend American dollars,and in Canada spend Canadian dollars. It makes everything much easier i would say.Also I get mostley Master cards from U.S. sledders,and they can realy rip you off. VISA is your best bet. As a motel Owner i have had it with Master card. You see Nashville is not out of your country. Why the extra 2% charge or 2.5 % ??????? Quote Link to comment Share on other sites More sharing options...
NHTOM Posted October 13, 2007 Report Share Posted October 13, 2007 Well its definitly gonna hurt to pay a little more this year, but lets be serious.... After all the money we have spent on trucks, sleds ,and gear, are you really going to ride them in New England? I mean come on, it wasnt that good in N. New England even when it used to snow. The last time riding down here was good was before I made my first trip to Quebec. Its kinda like comparing the Carribean with Hampton Beach. So, Im still going to ride the Q. I may have to bring along canned beer and some food to save a few bucks, but I'll be there. Quote Link to comment Share on other sites More sharing options...
GTSE800 Posted October 13, 2007 Report Share Posted October 13, 2007 Well its definitly gonna hurt to pay a little more this year, but lets be serious.... After all the money we have spent on trucks, sleds ,and gear, are you really going to ride them in New England? I mean come on, it wasnt that good in N. New England even when it used to snow. The last time riding down here was good was before I made my first trip to Quebec. Its kinda like comparing the Carribean with Hampton Beach. So, Im still going to ride the Q. I may have to bring along canned beer and some food to save a few bucks, but I'll be there. I agree, it's gonna hurt a little more, and Quebec is a great place to ride. As for New England, when there is snow Its a great place to ride also, just a different kind of riding. When money becomes an issue you have to doo what you have to doo. If money was no issue, Trust me, I would doo what Saguenay Bill does! I would be there the WHOLE winter. :D Everytime I buy a powerball ticket (A cheap fantasy for a dollar) I think if I win, I pack up and head to Quebec and ride. :D Quote Link to comment Share on other sites More sharing options...
nowa Posted October 13, 2007 Report Share Posted October 13, 2007 NHTOM, Bringing food is acceptable but not enjoying the beer up there???? J/K. They definately have some of my favorite beers up there!! Quote Link to comment Share on other sites More sharing options...
GTSE800 Posted October 13, 2007 Report Share Posted October 13, 2007 NHTOM, Bringing food is acceptable but not enjoying the beer up there???? J/K. They definately have some of my favorite beers up there!! All beer taste great when you are paying top dollar for them. For some reason, when I am home sitting on the couch, they just don't seem to go down as good. Quote Link to comment Share on other sites More sharing options...
800steve Posted October 15, 2007 Report Share Posted October 15, 2007 Hey Bernard, are you sure it was not Monopoly money you were trying to pay with? Maybe thats why I see your picture at the border saying do not let this guy into Vermont. See you soon, Steve Quote Link to comment Share on other sites More sharing options...
BERNARD Posted October 15, 2007 Report Share Posted October 15, 2007 Hey Bernard, are you sure it was not Monopoly money you were trying to pay with? Maybe thats why I see your picture at the border saying do not let this guy into Vermont. See you soon, Steve What a great Idea Steve. Thanks for the help, see you soon if the WIFE lets you out.??????? Quote Link to comment Share on other sites More sharing options...
800steve Posted October 18, 2007 Report Share Posted October 18, 2007 As long I come to Canada to see Bernard, She is ok with it. Quote Link to comment Share on other sites More sharing options...
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