Credit Cards, Atms, Cheques and Banks
One of the quickest and easiest ways of obtaining money in Canada is through an ATM , particularly if your home bank ATM card is on the Cirrus or Delta networks. It's also virtually essential to have at least one credit card to reserve and prepay for hotels or car rental, where otherwise you're likely to be asked for a big cash deposit: Visa, MasterCard, American Express and Diners are widely accepted. Credit cards can also be used to obtain cash advances over the counter in most banks but there will invariably be a minimum amount you can draw and you'll pay credit-card rates of interest on the cash from the date of withdrawal. If you have a PIN you can also obtain cash from ATMs with your credit card. With other credit cards, state bank cards and ATM cards, you should check with your bank before leaving home. While it's a good idea to have some Canadian cash from the outset, a good way to carry the bulk of funds is in travellers' cheques , available from banks and building societies, usually with a one percent commission on the amount ordered. (Exchange costs are usually waived if you have a bank-issued travel insurance policy.) Buy cheques in Canadian dollars and try to take American Express or Visa cheques, which are accepted as cash in virtually every shop, garage, restaurant and bar throughout Canada. Using travellers' cheques in this way is a better option than trying to cash them in a bank - a surprising number of major banks in Canada will not change travellers' cheques, and when they do you'll usually have to pay a commission. If you run out of money abroad, or there is some kind of emergency, the quickest way to get money sent out is to contact your bank at home and have them wire the cash to the nearest bank. You can do the same thing through Thomas Cook or American Express (free to card holders) if there is a branch nearby, and can also have cash sent out through Western Union (tel 1-800/235-0000 in Canada; tel 0800/833833 in UK; tel 1-800/325-6000 in US) to a bank, post office or local agent - a process that takes just minutes but will be expensive. Banking hours are Monday to Thursday 10am to 3pm, and until 6pm on Fridays; the trend is increasingly to longer hours and Saturday morning opening. But don't rely on finding a bank open outside these core weekday hours. The main nationwide banks include the Toronto Dominion, the Royal Bank of Canada, the National Bank of Canada, the Bank of Montreal and the Canadian Western Bank.
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