Currency & Banking

Currency

We recommend that you use Canadian currency when travelling in Canada. Visitors can exchange currency at Canadian chartered banks, trust companies, credit unions, or at offices of foreign exchange brokers, but it is advised to have local currency on hand prior to arriving. Some hotels, merchants, restaurants and suppliers accept U.S. or other foreign currency at a pre-determined rate, which may differ from the daily rate posted by financial institutions.

  • Canadian one dollar coin (“loonie”) ($) = 100 cents
  • Canadian two dollar coin (“toonie”) ($) = 200 cents
  • Notes are in denominations of $1000, $100, $50, $20, $10, $5
  • Coins are in denominations of $2, $1, $0.50, $0.25, $0.10, $0.05

Foreign Currency Exchange

Travellers Cheques

Travellers cheques in Canadian dollars are a safe way to carry money. They are widely accepted and can be cashed at banks or foreign exchange brokers. Identification may be required when cashing travellers cheques.

Banking

Regular banking hours in Canada are 9:30 a.m. to 4:30 p.m., Monday to Friday, with extended hours including weekends at some locations. Visitors who wish to cash cheques or require other banking services are advised to check times of operation with the institutions. Most banks have automatic teller machines, which can be accessed 24 hours a day, using bank or credit cards on major international banking networks such as Cirrus, Plus and Interac.

Credit Cards

Most major credit cards are accepted, but visitors are always advised to check with the vendor before a purchase is made. Cash machines with 24 hour access are available in many convenient locations throughout Burlington.

Harmonized Sales Tax

Effective July 1, 2010, Ontario has a 13% HST (Harmonized Sales Tax) and is applicable to most goods, purchased gifts, food/beverages, and services. 8% of the HST is the provincial portion and 5% is the federal portion.

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