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Money & Credit​



It is advised to have local currency on hand prior to arriving. Some hotels, merchants,

restaurants and suppliers accept U.S. or other foreign currency at a pre-determined rate,

which may differ from the daily rate posted by financial institutions.


  • ​Canadian one dollar coin ("loonie") ($) = 100 cents
  • Canadian two dollar coin ("toonie") = 200 cents
  • Notes are in denominations of $1000, $100, $50, $20, $10, $5
  • Coins are in denominations of $2, $1, $0.50, $0.25, $0.10, $0.05, $0.01


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Opening a Bank Account
Banks in Canada pride themselves on helping newcomers get started on the right financial path by providing affordable, accessible services and sound financial advice. Whether you want to open an account, purchase a home, start a business or save for the future, Canada’s banks are here to help.
Our Consumer Information section provides information on the following topics:

Understan​​ding Credit

Many consumers use credit to help manage their personal finances. Credit can be a mortgage to buy a house, a loan to buy a car, a line of credit for larger purchases or a credit card to make everyday purchases more convenient. It's important to understand how different types of credit work, and how to use credit to build a strong personal credit history. This section provides information on new credit card regulations, how a credit card transaction works, credit card products, budgeting, and avoiding money mishaps. Understanding credit is the key to using it wisely and making it work for you.