Canadian Currency – Canadian Money
The Canadian Currency is the Canadian Dollar / CAD If you would like to know how much your money is worth in Canadian money, you can use the Currency Converter.
In addition to information about Canadian money I also provide information on accessing your funds and opening a bank account in Canada.
About Canadian Currency
The Canadian currency is a decimal currency with 100 cents to one dollar.
Five, ten, twenty-five cent silver coins are available, as well as one and two dollar gold coins. Silver and gold is the colour of the coins, not the material. The coins are made from steel, copper and nickel in various percentage compositions.
Depicted on coins of Canadian currency you can find several popular Canadian animals: Beaver (5 cents), Caribou (5 cents), Loon (1 Dollar/Loonie), Polar Bear (2 Dollar/Toonie).
The one cent coin (Canadian penny) was discontinued on February 4, 2013, making it the official end to the little copper-coloured coins. The shop prices remain a typical “something and 99 cents”. When you pay for your items the sum of your purchases will be rounded to the nearest five cents. Unless of course you pay by card, in which case you will be billed the exact amount.
All of Canada’s coins have a picture of Queen Elizabeth on the back side and are inscribed with the Latin abbreviation “D.G. Regina or “Dei Gratia Regina,” meaning “Queen by God’s Grace.”
The newest Canadian bank note series are made of a synthetic polymer. Their leading-edge security features are easy to verify and hard to counterfeit and very durable and they don’t crease much.
The new bank notes have the bad habit of unfolding themselves and jump of your wallet or pocket. True!
The denominations of the Canadian currency bank notes are five (blue), 10 (purple) 20 (green), 50 (red), 100 (brawn) dollars. ATMs usually dispense 20 dollar notes. 100 dollar notes are not very common for some reason.
All current Canadian currency show the country’s spirit of innovation and its designs celebrate Canada’s achievements at home, around the world and in space.
Accessing your travel funds
Canadian Visitor Information Centres receive many enquiries from overseas that make you wonder. Here are the facts:
- Canada is a first world country, just like the US and Europe.
- Yes, we have ATMs everywhere. Yes, we have them even in backcountry towns.
- Canada accepts foreign credit cards. Make sure to tell your credit card company in your home country that you will be using the credit card overseas.
- Our banks have normal opening hours and will accept your currency, where ever you come from.
Here is another option for people who want to spend a longer period of time in Canada. This is especially interesting for people on a working holiday visa.
- It’s easy to open a bank account in Canada.
- Open the bank account during the first few weeks after your arrival.
- To open an account you must have a Canadian address and provide proper identification, such as passport.
The best and most widely represented bank for this is TD Canada Trust. Also check with your local bank at home if they have linked/partnered with any Canadian bank.
Converter for Canadian Currency
Since this is a first world country expect to pay first world prices! To help you get an idea what your accommodation/car rental/tour etc. will cost you, I have added a currency converter to this page. The currency converter uses live, up to date rates.
Just change the currency to Canadian dollar, add the price as you found it in Canadian currency, and find and select your own currency in the second box. Click the button “Click here to Perform Currency Conversion”.
Of course you can perform the conversion the other way. Select your currency in the first box, and the Canadian currency in the second.