Money in Canada
The currency is the Canadian dollar (CAD), often written C$. Visa and Mastercard are accepted almost everywhere, including for small amounts, and contactless payment is normal. Carry a little cash for markets, tips and remote areas. When an ATM or card terminal offers to charge you in your home currency, choose Canadian dollars instead.
Prices on menus and shelf tags usually don’t include sales tax, which is added at checkout. The federal GST is 5 percent everywhere. Ontario charges a combined HST of 13 percent, Nova Scotia 14 percent, and New Brunswick, Newfoundland and Labrador and Prince Edward Island 15 percent. British Columbia adds a provincial tax of 7 percent and Québec 9.975 percent, while Alberta and the three territories charge only the GST.
Tipping is expected. In restaurants, 15 to 20 percent of the bill is usual, and many people work it out on the amount before tax. Card machines suggest percentages, and you can enter your own. Bartenders, taxi drivers, hairdressers and tour guides expect a tip too.
Banks, ATMs and Cards
The five large banks are RBC Royal Bank, TD, Scotiabank, BMO and CIBC, and in Québec you’ll also see Desjardins, a cooperative. Their ATMs, often called ABMs in Canada, are in every town and take foreign Visa, Mastercard, Plus and Cirrus cards. Machines inside bank branches usually cost less than the private ATMs in bars, shops and gas stations, which add their own fee. The screen shows the fee before you confirm. Debit cards issued in Canada run on the Interac network, so a foreign debit card sometimes fails in small shops that only take Interac. Pay by credit card there or carry some cash.
Banknotes are made of polymer, and the coins include the $1 loonie and the $2 toonie. Canada stopped handing out the penny in 2013, so cash totals are rounded to the nearest five cents, while card payments are charged to the cent. Some border towns and souvenir shops accept US dollars, but at a poor rate.