Where is it cheapest to change money before a trip?

Not at the airport. The Government of Canada's travel site calls airport and hotel exchange desks the most expensive places to change money, says bank rates are slightly better, and suggests bank-affiliated ATMs with fewer, larger withdrawals.

Why are airport exchange desks so expensive?

The Government of Canada's travel site says fees at these desks tend to be very high. Even desks advertising "no commission" may have hidden fees, which the site says makes them the most expensive places to change money.

Can you buy currency from your bank before you go?

The same site says exchange rates at banks are slightly better than elsewhere, and you can buy foreign currency from your financial institution over the phone or online before you leave.

How do you keep ATM fees down abroad?

The travel site's tips for using a debit card abroad:

• Use bank-affiliated ATMs.
• Check whether your bank has branches or partner banks at your destination where your debit card works without a fee.
• Withdraw larger amounts less often, so you pay fewer fees.

Can you use a credit card at an ATM abroad?

The travel site says not to use a credit card to take money from an ATM, because the fees and interest are usually very high. The FCAC explains why: a cash advance has no interest-free grace period, so interest starts the day you take the cash.

What to sort out before you leave

• Let your bank know where and when you're travelling, so your account isn't flagged for unusual activity.
• Carry a backup way to pay, in case a card stops working.
• Keep ATM and card receipts, and check your statements for several months after you get home.

Is there a limit on cash you can carry?

There's no limit on how much money you can bring into or take out of Canada. But the Canada Border Services Agency requires you to declare CAN$10,000 or more, in Canadian or foreign currency or both, when you cross the border.