Travel money
Answers to the money questions that come up before a trip, from the Government of Canada's pages and other official sources.
Pay in CAD or local currency abroad?
Card machines and ATMs abroad sometimes offer to charge you in Canadian dollars. The Government of Canada's travel site says to pick the local currency, because that conversion comes with high rates and fees.2 min read · with videoWhat is a foreign transaction fee on a credit card in Canada?
When you pay by card in another currency, your card issuer applies an exchange rate and then a foreign currency conversion charge on top. The charge is in your card agreement.2 min read · with videoWhere is it cheapest to change money before a trip?
The Government of Canada's travel site calls airport and hotel exchange desks the most expensive place to change money. Banks are slightly better, and bank-affiliated ATMs with fewer, larger withdrawals keep fees down.2 min read · with videoDoes your provincial health plan cover you outside Canada?
The Government of Canada's travel site says your provincial or territorial health plan may cover none, or only a small part, of medical costs abroad, and never pays up front. It recommends trip interruption and travel health insurance before any trip outside Canada.2 min read · with videoHow do you compare vacation packages before you pay?
Two packages for the same resort are only comparable if the trip, the room and the total price match. Where you book can also decide whether a provincial fund can help if the travel company closes.3 min read · with videoHow much do you need to save for a trip?
Add up the whole trip, including the extras people forget, then divide by the months until you pay. Where you keep the money matters too, and a TFSA has one rule that catches trip savers out.3 min read
General information, not financial or legal advice. Check the official pages listed, and your own card, insurance or booking terms.