What does Canada's money look like

Currency & Finance

You can easily withdraw cash from ATMs, and credit cards are more common in Canada than in Germany.

Canada's currency

In Canada you pay with Canadian dollars (English: Canadian Dollar, French: Dollar Canadien), in short CAD. In colloquial language you will also often hear that “bucks” is spoken of.

Like the euro, the Canadian dollar is divided into 100 cents (¢). The coins are divided into 1 (penny), 5 (nickel), 10 (dime) and 25 cent coins, the so-called "quarters". In addition, 1 dollar, also called “loonie”, and 2 dollar pieces, also called “toonie”, are minted.

As in Germany, bills are also available as $ 5 (blue), $ 10 dollars (purple), $ 20 (green), $ 50 (red), $ 100 (brown). Smell it once - you might be lucky enough to catch a newer banknote and it still smells of the typical Canadian maple.

The price is subject to the usual fluctuations, on average one can say that 1 CAD is about 0.70 €.

Currency Exchange

You can exchange money at any recognized financial institution, bank, trust company or exchange office. Also, many of the major shops, hotels, or restaurants in Canada offer currency exchange facilities. Usually, however, the rate offered by the financial institutions is cheaper, so you should exchange some of your money to be on the safe side before you arrive.

Taxes

Please note that there is a sales tax on most goods and services across Canada. This Goods and Services Tax (GST) is 5% and is sometimes included in the price, but sometimes it is calculated separately. In the provinces (not in the territories) there is sometimes an additional 5-10% Provincial Service Tax (PST).

Pay

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Major credit cards such as VISA, Mastercard and American Express are accepted almost everywhere in Canada. The currency will then be automatically converted on your next statement. You should inform your bank that you will be using the card abroad so that it can be activated for it if necessary and you can also withdraw money on site!

ATMs are called ATM or ABM in Canada. With many cards like Maestro, Cirrus or Interac you can easily withdraw money, but not with V-Pay! However, fees may apply. Please inform yourself beforehand at your financial institution, e.g. about possible withdrawal limits, and activate the card for Canada if necessary. Vending machines can often be found not only at banks, but also in shops, petrol stations, train stations, airports and many other places.