Are you a student traveling this summer? Are you looking for the best currency exchange rates possible? Interchange Currency Exchange, one of Canada’s largest currency exchange companies, offers a wide…
One of the most common questions asked about the exchange rates and travel is whether credit cards should be used when travelling outside of Canada. And the answer is… mostly no and sometimes yes!
Credit cards used outside of Canada typically incur two charges; one of them is explicit and the other is hidden.
- First, banks charge a “foreign transaction” fee of up to 5% for most charges incurred outside of Canada. This is the explicit charge and varies depending on your credit card and bank.
- Second, credit cards covert your expenses into Canadian Dollars but …
Here we go! Our first blog post ever!
Yeah, we know–we’re not the first out of the gate with the whole blog thing–but we’d like to think that our fifteen-plus-years of obsessing over perfecting our customer service, and our never-ending desire to be price leaders in the foreign exchange retail market, means that we have a thing or two to say about our industry.
Hopefully this experience will allow our blog to find its own niche in the rapidly expanding blogosphere.
So stay tuned, and check in often for foreign exchange market information, useful currency exchange tips (aka money saving tips), and maybe even some laughs along the way.