Canada uses the Canadian dollar, abbreviated CAD or C$, which divides into 100 cents. The Bank of Canada, established in 1934, issues all banknotes. Current polymer notes entered circulation between 2011 and 2013, replacing the older paper series. These polymer bills feature portraits of Canadian prime ministers and monarchs on the obverse, with Canadian achievements and landscapes on the reverse. The five-dollar note depicts Wilfrid Laurier and the Canadarm2 space technology. The ten-dollar note shows John A. Macdonald and the Canadian railway. The twenty-dollar note features the Queen and the Canadian National Vimy Memorial. The fifty-dollar note depicts William Lyon Mackenzie King and the icebreaker CCGS Amundsen in Arctic waters. The one-hundred-dollar note shows Robert Borden and medical innovation imagery. The Royal Canadian Mint, founded in 1908, produces all Canadian circulation coins at facilities in Ottawa and Winnipeg.
Canadian coins include the one-cent piece, discontinued from circulation in 2013 but still legal tender. The five-cent coin, called a nickel, is composed of nickel-plated steel. The ten-cent coin, known as a dime, is also nickel-plated steel. The twenty-five-cent coin, called a quarter, features a caribou on the reverse. The one-dollar coin, nicknamed the loonie after the common loon bird depicted on its reverse, entered circulation in 1987 and replaced the one-dollar bill. The two-dollar coin, called the toonie, entered circulation in 1996 and consists of an outer ring of nickel and an inner core of aluminum bronze. Canadian cash transactions round to the nearest five cents since the penny's withdrawal from circulation.
ATMs operate widely throughout Canada in bank branches, shopping centers, airports, train stations, and convenience stores. Most machines dispense twenty-dollar and fifty-dollar notes, with some offering tens and hundreds. Bank-owned ATMs typically charge no fees for that institution's customers. Non-customer withdrawals incur fees ranging from CAD 2.50 to CAD 5.00 per transaction, depending on the bank and location. Third-party ATMs in convenience stores, bars, and entertainment venues charge higher fees, often CAD 3.00 to CAD 6.00 per withdrawal. Daily withdrawal limits vary by bank and account type, typically ranging from CAD 500 to CAD 1,000. Foreign cards function at ATMs displaying corresponding network logos such as Plus, Cirrus, Maestro, or Interac. Currency conversion occurs at the wholesale exchange rate plus the foreign card issuer's markup, typically 1 to 3 percent.
Credit cards see widespread acceptance across Canada, with Visa and Mastercard functioning nearly universally. American Express acceptance is common but not universal, particularly at smaller businesses and restaurants. Discover card acceptance is limited. Contactless payment limits stand at CAD 250 as of 2021, increased from CAD 100 during the COVID-19 pandemic. Most terminals accept chip-and-PIN transactions, with chip-and-signature as a fallback. Magnetic stripe-only cards still function but increasingly draw scrutiny. Gas stations commonly place pre-authorization holds of CAD 100 to CAD 150 on credit cards at self-serve pumps, releasing the actual purchase amount within 24 to 72 hours. Hotels typically place holds for the room rate plus 15 to 25 percent for incidentals, maintaining these holds for 3 to 10 business days after checkout.
Debit cards operate through the Interac network, which processes over 18 million transactions daily across Canada. Retailers widely accept Interac Direct Payment, often with minimum purchase requirements of CAD 3.00 to CAD 5.00. International debit cards bearing Visa Debit or Mastercard Debit logos function like credit cards at point-of-sale terminals. Pure Interac cards issued by Canadian banks do not function outside Canada. Interac e-Transfer allows person-to-person electronic money transfers between Canadian bank accounts, with most banks offering this service. Transfer limits vary by institution, typically ranging from CAD 3,000 to CAD 10,000 per transaction and CAD 10,000 to CAD 30,000 per day.
Major Canadian banks include Royal Bank of Canada (RBC), founded in 1869; Toronto-Dominion Bank (TD), formed through a 1955 merger; Bank of Nova Scotia (Scotiabank), established in 1832; Bank of Montreal (BMO), founded in 1817 as Canada's oldest bank; and Canadian Imperial Bank of Commerce (CIBC), created through a 1961 merger. National Bank of Canada serves primarily Quebec and Atlantic provinces. These institutions maintain thousands of branches across the country, with concentration in urban areas. Banking hours typically run Monday through Friday from 9:00 or 9:30 AM to 4:00 or 5:00 PM, with some branches offering Thursday or Friday extended hours until 6:00 or 8:00 PM. Saturday hours, where available, generally run from 9:00 or 10:00 AM to 2:00 or 4:00 PM. Most branches close on Sundays.
Opening a Canadian bank account as a non-resident presents challenges. Most banks require proof of Canadian address, making account opening difficult for tourists. Some institutions offer accounts to temporary residents, students, or work permit holders, requiring passport, visa documentation, and proof of address such as a lease agreement or utility bill. TD Bank maintains cross-border banking relationships with TD Bank, N.A. in the United States, allowing some Americans to open accounts before arrival. BMO offers similar cross-border services. Account opening typically requires in-person appearance at a branch. Minimum deposit requirements vary from zero to CAD 100 for basic accounts. Monthly fees range from CAD 4.00 to CAD 30.00, with many banks waiving fees for maintaining minimum balances or setting up direct deposits.
Currency exchange services operate through banks, currency exchange specialists, and hotel concierges. Banks generally offer better rates than airport kiosks or hotel desks but require account holders at many locations. Currency exchange specialists like Calforex, ICE Currency Exchange, and Continental Currency Exchange maintain locations in major cities and tourist areas. These businesses post buying and selling rates with spreads typically ranging from 2 to 5 percent of the mid-market rate. Airport currency exchange kiosks charge the highest premiums, with spreads reaching 7 to 15 percent. The Bank of Canada publishes daily exchange rates representing market rates at noon Eastern time, available on its website for reference. These rates do not include transaction fees or spreads.
Tipping practices in Canada generally follow North American conventions. Restaurant servers expect 15 to 20 percent of the pre-tax bill, with 18 percent considered standard for adequate service. Some restaurants apply automatic gratuities of 15 to 20 percent for groups of six or more. Bartenders receive CAD 1.00 to CAD 2.00 per drink or 15 to 20 percent of the bar tab. Hotel bellhops typically receive CAD 2.00 to CAD 5.00 per bag. Hotel housekeepers receive CAD 2.00 to CAD 5.00 per night, left daily rather than as a lump sum at checkout. Taxi drivers receive 10 to 15 percent of the fare. Ride-sharing services like Uber and Lyft include tipping options in their apps, with 10 to 20 percent considered appropriate. Hair stylists and barbers receive 15 to 20 percent of the service cost. Food delivery drivers typically receive CAD 3.00 to CAD 5.00 or 10 to 15 percent of the order value, whichever is greater.
Sales taxes in Canada consist of federal and provincial components. The federal Goods and Services Tax (GST) stands at 5 percent, applied on most goods and services across Canada. Provincial Sales Tax (PST) varies by province. British Columbia charges 7 percent PST. Saskatchewan charges 6 percent PST. Manitoba charges 7 percent PST, labeled Retail Sales Tax (RST). Quebec charges 9.975 percent Quebec Sales Tax (QST), calculated on the price including GST. Five provinces use Harmonized Sales Tax (HST), combining federal and provincial portions into a single rate: Ontario at 13 percent, New Brunswick at 15 percent, Newfoundland and Labrador at 15 percent, Nova Scotia at 15 percent, and Prince Edward Island at 15 percent. Alberta, Yukon, Northwest Territories, and Nunavut charge only the 5 percent GST with no additional provincial or territorial sales tax. Prices displayed on shelves or menus typically exclude these taxes, which are added at the point of sale. Certain items like basic groceries, prescription medications, and medical devices are zero-rated or exempt from sales taxes.
Accommodation costs vary significantly by region and season. Downtown Toronto hotel rooms average CAD 150 to CAD 250 per night for mid-range properties, with luxury hotels reaching CAD 400 to CAD 800. Vancouver prices follow similar patterns, with mid-range options around CAD 140 to CAD 230 and luxury properties at CAD 350 to CAD 700. Montreal offers comparatively lower rates, with mid-range hotels averaging CAD 100 to CAD 180 and upscale properties at CAD 250 to CAD 450. Calgary and Edmonton mid-range hotels typically range from CAD 120 to CAD 200. Resort destinations like Banff see significant seasonal variation, with summer peak rates for mid-range hotels reaching CAD 250 to CAD 400, while winter shoulder season rates drop to CAD 120 to CAD 180. Quebec City prices spike during Winter Carnival in February and during summer months. Halifax mid-range accommodations average CAD 130 to CAD 200. Budget chain hotels in smaller cities typically range from CAD 90 to CAD 140. Hostels in major cities charge CAD 30 to CAD 60 for dormitory beds and CAD 80 to CAD 120 for private rooms.
Restaurant meal costs vary by establishment type and location. Fast food combo meals average CAD 10.00 to CAD 14.00. Casual dining restaurants charge CAD 15.00 to CAD 25.00 for main courses. Mid-range restaurants price entrees at CAD 20.00 to CAD 35.00. Upscale dining establishments charge CAD 40.00 to CAD 80.00 per entree, with tasting menus reaching CAD 100.00 to CAD 250.00 per person. Coffee at chain shops like Tim Hortons or Starbucks costs CAD 2.00 to CAD 5.00. Beer at bars and restaurants ranges from CAD 6.00 to CAD 10.00 for domestic brands and CAD 7.00 to CAD 12.00 for imports or craft selections. Wine by the glass ranges from CAD 8.00 to CAD 18.00 in mid-range establishments. Cocktails cost CAD 12.00 to CAD 18.00 in standard bars and CAD 15.00 to CAD 22.00 in upscale venues. Grocery prices vary by location, with northern communities experiencing significantly higher costs due to transportation expenses.
Transportation costs depend on mode and distance. Public transit in Toronto charges CAD 3.25 per single trip, with day passes at CAD 13.50. Montreal charges CAD 3.50 per trip or CAD 10.00 for a day pass. Vancouver's TransLink charges CAD 3.05 for a single zone trip, with three-zone trips at CAD 6.20 and day passes at CAD 11.25. Calgary and Edmonton charge CAD 3.50 per trip with day passes at CAD 11.00. Taxis in major cities charge initial fees of CAD 3.50 to CAD 5.00 plus CAD 1.75 to CAD 2.25 per kilometer. Uber and Lyft prices fluctuate with demand, typically 10 to 30 percent lower than taxis during normal periods but higher during surge pricing. Car rentals from major companies like Enterprise, Hertz, Budget, and Avis charge CAD 40.00 to CAD 80.00 per day for economy cars, CAD 60.00 to CAD 100.00 for mid-size sedans, and CAD 80.00 to CAD 150.00 for SUVs, excluding insurance and taxes. Via Rail, the national passenger rail service, prices vary dramatically by route and booking time. Toronto to Montreal coach seats booked in advance range from CAD 55.00 to CAD 90.00, with last-minute fares reaching CAD 120.00 to CAD 160.00.
Gasoline prices in Canada are quoted in cents per liter. As of 2024, prices fluctuate based on crude oil costs, refining capacity, taxes, and regional factors. Vancouver typically records the highest prices in the country, often reaching 180 to 210 cents per liter, equivalent to approximately CAD 6.80 to CAD 7.95 per US gallon. Toronto area prices typically range from 150 to 170 cents per liter. Montreal prices fall between 160 and 180 cents per liter. Calgary and Edmonton, closer to oil production, see lower prices around 130 to 150 cents per liter. Atlantic provinces generally experience prices in the 160 to 180 cents per liter range. Federal excise tax adds 10 cents per liter. Provincial fuel taxes vary: British Columbia charges 15 cents per liter plus carbon tax of approximately 12 cents per liter; Ontario charges 14.7 cents per liter; Quebec charges 19.2 cents per liter; Alberta charges 13 cents per liter. Additional transit levies apply in some metropolitan areas, adding 6 to 18 cents per liter.
Alcohol sales in Canada are primarily controlled through provincial liquor authorities. Liquor Control Board of Ontario (LCBO) operates over 660 stores across Ontario, with minimum pricing policies setting a 750ml bottle of wine at CAD 8.05 and standard spirits starting around CAD 26.00. Beer Store, a private consortium, operates separately in Ontario. SAQ operates liquor sales in Quebec through over 400 outlets. BC Liquor Stores operate throughout British Columbia alongside private retailers licensed since 2003. Alberta fully privatized liquor sales in 1993, now operating through over 1,600 private stores. Minimum drinking age is 19 in most provinces and territories: British Columbia, Saskatchewan, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Northwest Territories, Yukon, and Nunavut. Alberta, Manitoba, and Quebec set the minimum at 18 years. Beer prices at government stores range from CAD 2.25 to CAD 4.00 per 355ml can for domestic brands and CAD 3.00 to CAD 6.00 for imports or craft selections. Wine bottles range from CAD 10.00 to CAD 25.00 for basic table wines, with selection extending to CAD 100.00 and above. A 750ml bottle of standard spirits costs CAD 25.00 to CAD 45.00.
Cannabis became legal for recreational use in Canada on October 17, 2018, under the Cannabis Act. Adults aged 19 in most provinces (18 in Alberta and Quebec) can purchase cannabis from licensed retailers. Provincial governments control retail models, with some operating government stores and others licensing private retailers. Ontario operates through private retailers authorized by the Alcohol and Gaming Commission of Ontario, now numbering over 1,500 stores. British Columbia uses a mixed model with government-operated BC Cannabis Stores and licensed private retailers. Alberta licenses private retailers exclusively. Quebec operates through government-owned Société québécoise du cannabis (SQDC) stores. Possession limits allow adults to carry up to 30 grams of dried cannabis or equivalent in public. Prices vary by product and province, with dried flower typically ranging from CAD 5.00 to CAD 15.00 per gram, pre-rolled joints from CAD 5.00 to CAD 12.00, and cannabis oils from CAD 30.00 to CAD 80.00 per bottle. Federal excise duty applies at CAD 1.00 per gram or 10 percent of producer price, whichever is higher, with provincial markup adding 20 to 100 percent.