Hi all, I am presuming it is possible to us ATM's on a regular basis in Canada with a UK issued card but what sort of rate of exchange do they give you? Is it better to exchange money before we go on holiday this coming Monday?

Thanks.

You should be able to use some but not all bank ATMs. My Barclays Connect card works in Scotiabank bank machines (no fee because the two banks are part of an alliance). It also works in RBC machines but not Bank of Montreal. It does not work in the little ATMs you find in gas stations etc. If your bank card has a VISA logo you can use it as such.

Credit Cards typically add 2 or 2.5% to the commercial rate. In general they are very competitive with exchanging money at the bank, and way better than getting money at the booth at the airport.

The downside is you will pay interest on cash advanced from the instant you withdraw it, so it might pay to top up your CC account in advance if you can.

I use AMEX when traveling, they give me the same if not better than the bank cash rate (even with the 2.5% premium).

As do I. That's one of the joys of a corporate card. You don't care what it costs.

The bank cash rate IS pretty much the commercial rate plus 2+%, so any credit card is pretty much the same deal I think.

I used to like my Amex card....as long as I didnt have to pay for it.

The exception being a few cards such as Nationwide which will give you the inter-bank exchange rate. The downside being that Nationwide is staffed by feckless cretins so if you need to resort to their "customer support" be prepared for misery.

"feckless cretins". Love it.

feck·less (fĕk'lĭs)
adj.

1. Lacking purpose or vitality; feeble or ineffective.
2. Careless and irresponsible.

cre·tin (krēt'n)
n.

1. A person afflicted with cretinism.
2. Slang. An idiot.

It's almost like they're talking about them.

Not all C/C are created equally, Royal Bank Visa Avion is 2.5% above their cash rate (although I have more air miles than time to go places), Amex gives me the same as the RBC cash rate. In addition I get 1% cash rebate on the Amex.