Currency in Canada - A Full Guide 2025
Planning a trip to Canada? Whether you’re heading there for work or pleasure, you’ll need to know how to pay your way as you travel.
This guide covers all you’ll need to know about the official currency in Canada, where to get it and how to keep your costs down during your trip.
What is the currency in Canada?
The official currency in Canada is the Canadian Dollar, which is issued and overseen by the Bank of Canada. If you’re buying your travel money online you may also see the official code being shown - CAD. In stores and restaurants, Canadian Dollar prices are likely to use the currency symbol C$.
Once you’re in Canada you’ll see costs of items shown in CAD and you’ll need to start paying for things in local coins and notes which are often found in the following denominations:
banknotes - 5, 10, 20, 50, 100 CAD and coins - 5, 10, 25, 50 cents; 1, 2 CAD.
How to pay in Canada
You’ll be able to choose between a mixture of modern and traditional payment methods in Canada. However, generally having a few different payment methods is a good plan. That means that if a merchant won't accept one, you’ve got a back up. It’s also reassuring to know you have a different way to pay if you were unlucky enough to have a card or some travel cash stolen. Here are your key payment options in Canada.
1. Debit or credit card
You’ll need to have CAD to spend in Canada - however, you don’t necessarily need to carry cash. Card payments can be more convenient and are accepted in many shops, restaurants and hotels.
If you’re using a card for payments in Canada do remember to check for any extra fees which may apply when you spend in foreign currencies. Foreign transaction and cash advance fees may push up your costs, and can often be avoided by choosing a prepaid travel card which supports multi-currency holding from a provider like Wise or Revolut.
2. CAD cash
Cards are widely accepted in Canada but it's still worth having some cash with you at all times. Some merchants will prefer cash, but having a card for higher value payments and in busier more tourist places is also convenient. Cash is often easier for tipping and making smaller purchases, plus you’ve got a nice backup if your card is ever out of action for some reason.
You may want to exchange money to CAD before you leave, but it’s also usually convenient to make ATM withdrawals locally once you arrive in Canada. Consider using a travel card from a provider like Wise or Revolut for spending, and to get cash at an ATM when you need it for flexibility.
3. Mobile Payments
Using a wallet like Apple Pay or Google Pay is super convenient and allows you to tap and pay in stores and anywhere contactless payments are accepted. You won’t even need to have your physical card with you - although it’s a good plan to have your card just in case you ever need to make a Chip and PIN transaction when you travel.
If you’re going to use a mobile wallet for payments in Canada make sure you’ve linked your preferred payment cards, and check for any fees which may apply. While it’s normally free to use the wallet itself, the underlying card may still impose costs such as foreign transaction fees when you spend in CAD.
4. Bank Transfers
Bank transfers are normally used for larger purchases, and to make ongoing payments like rent or utilities. This payment method may be relevant to you if you’re planning to stay in Canada for a longer time, for work or study for example. You may also want to use a bank transfer for a tourist trip if you will pay for your hotel in advance.
Bank transfers have the advantage of being secure and easy to set up through your mobile or online banking network. However, bear in mind that some banks and money transfer services will add fees when you send a payment, which can include a charge added to the exchange rate when you convert your money to CAD.
5. Use a prepaid travel card on your next trip to Canada
Using a travel debit card in Canada is usually cheap, safe and convenient. A few providers in Australia offer multi-currency cards which come with a linked payment account that lets you convert, hold and spend in CAD. That allows you to add a balance in AUD and switch over to CAD to lock in the exchange rate and set your travel budget.
Once you have CAD in your account there are no extra fees to make payments, and you’ll not have foreign transaction charges to worry about, either.
Here’s a quick overview of a couple of handy travel debit cards you may want to order and use in Canada.
Wise travel card
- Visa or Mastercard Debit Card
- No fees to spend currencies you hold
- Hold and exchange 40+ currencies with the mid-market rate
- Spend seamlessly in CAD when you travel
Wise
Open a Wise account online or in the Wise app, to order a Wise travel card you can use for convenient spending and withdrawals in Canada. Wise accounts can hold 40+ currencies, so you can top up in Australia easily from your bank or using your card.
Read a full Wise card review here.
Can you officially pay in AUD when you are in Canada?
You’re unlikely to be able to officially transact in AUD in Canada, which is why it’s time to start getting used to CAD and learning more about the currency exchange rates so you’ll know what you’re spending on your trip.
This guide will walk through all you need to know, including US dollar/Canadian Dollar rates and where best to get your travel money from.
| Canadian Dollar | |
|---|---|
| Currency name | Canadian Dollar |
| ISO code | CAD |
| Symbol | C$ |
| Subunit | Cent |
| Central Bank | Bank of Canada |
| Best travel cards to take to Canada | Wise |
Do I need cash in Canada?
Most travellers choose to have more than one payment method available for spending in CAD on a visit to Canada. Often that means carrying one or more cards, such as a credit card for emergencies and a prepaid travel card for daily spending - as well as cash. Keeping cash on hand may not be completely necessary, but it’s reassuring. You’ll be able to use cash for small purchases and souvenirs at markets, for tipping and taxis, and in other circumstances where a card payment is less practical.
Just use your prepaid travel card at an ATM whenever you need to restock your suppliers of local cash in Canada, to avoid the risk of carrying too much cash in your pocket at any given time.
CAD coins and banknotes
Here’s a full rundown of the CAD coins and banknotes you’ll need to be familiar with when you’re in Canada.
| CAD banknotes | CAD coins |
|---|---|
| banknotes - 5, 10, 20, 50, 100 CAD | coins - 5, 10, 25, 50 cents; 1, 2 CAD |
History of Canadian Dollar currency
The Canadian Dollar (CAD) was first issued in 1858, marking a departure from the use of the Canadian pound and aligning the country's monetary system with the United States. It was pegged to the US dollar for periods of its history but has been floating since 1970. The CAD is often referred to as the "loonie," a reference to the bird depicted on the one-dollar coin, and is managed by the Bank of Canada. Canada's commodity-based economy means the CAD is frequently influenced by the global prices of oil and other exports.
Is AUD accepted in Canada?
As we’ve seen, the official currency in Canada is CAD. If you carry AUD with you on your trip, you’ll probably need to exchange it before you can spend.
Sometimes when you’re away on a trip abroad you’ll find that merchants will take payments in a selection of major foreign currencies. However, the chances are that where this is offered, you won’t get a good exchange rate for your AUD. Planning smart and convenient ways to spend in CAD when you’re away is likely to mean you save on costs in the end.
Usually, having a few different ways to pay and get cash is the best option for travelers and tourists. That’s because you’ll have a back up plan in case one payment method isn’t accepted for any reason, and you can pick the method that’s best suited to the specific transaction. Having a multi-currency card from a provider like Wise, plus your normal bank debit card, and some local cash in CAD should mean you’ve always got options. You can use your cash for small purchases and tipping, and make low cost payments and cash withdrawals with your multi-currency card, while keeping your bank card in reserve for emergencies.
What money is used in Ottawa
The currency in Ottawa is CAD. You’ll need to have ways to spend in CAD during your visit, which can mean carrying some cash, getting a prepaid travel card before you leave home, or using your credit card. Whichever payment method you decide to use, make sure you weigh up the costs involved, which can include exchange rate markups if you’re converting cash, and foreign transaction fees if you use your debit or credit card while on your visit to Ottawa.
What is the currency exchange rate for A$ 1 AUD/CAD?
It’s helpful to get to know the live AUD/CAD rate so you can easily calculate how much things are costing you while you’re on your trip abroad. The rate you need to focus on is the mid market rate, which is the one banks and major currency services get when buying and selling currencies. This rate isn’t always passed on to customers. Instead you may find that the AUD/CAD rate you get when exchanging travel cash includes a markup - an extra fee.
Find the AUD/CAD mid-market rate from a currency conversion site or a website like this, so you can keep an eye on the market and compare the rates you’re offered as you travel against the mid-market rate easily. Right now, the mid-market rate for 1 Australian Dollar to CAD is 0.57807.
Should I exchange AUD to CAD before traveling to Canada?
Because Canada sees many tourists from Australia every year you might find you’re better off if you exchange your currency when you get to Canada rather than worrying about getting your cash sorted out before you leave.
Get familiar with the exchange rates offered locally to you, and online, so you can decide whether it’s worth switching some funds in advance of travel, using a card to pay while you’re away, or converting cash on arrival. Both in Australia and in Canada, steer clear of exchanging currency at the airport. A captive market means that AUD/CAD rates are often worse in the airport than in city centers.
Tips for exchanging money in Canada
There’s a good network of ATMs across Canada, and card payments are also widely accepted. Always pay in AUD to avoid sneaky extra dynamic currency conversion costs and to make sure your money goes further.
2)Avoid using exchange providers at airports or hotels in Canada as they usually offer pretty poor exchange rates because they have a captive market and little competition nearby
3)Today’s mid market exchange rate for AUD/CAD is 0.57807 - look for this or as close as possible to it when you exchange your travel money
4)Use a travel debit card like the Wise card while you’re in Canada for fast and cheap conversion between currencies and easy ways to manage your money from your phone
Is it better to exchange currency in Australia or Canada?
Whether it's better to exchange currency in Australia or Canada really depends on the exchange rates and fees you can find in local exchange stores, online or with your preferred payment cards. Converting cash before you leave is reassuring but does mean getting organised in advance, while waiting until you arrive in Canada means using up precious time on your trip finding an exchange office.
If you don’t want to worry about converting your cash, you can also use a prepaid travel card to spend and make cash withdrawals on arrival, which can be a cost effective and time saving solution.
Read also: Compare exchange rates to buy CAD
Best place to exchange currency in Canada
You can get your CAD in Canada in a couple of ways.
You’ll be able to use a travel debit card from a provider like Wise to make convenient payments and cash withdrawals and to convert funds online.
Or if you prefer an offline solution you can carry some cash in AUD to exchange when you arrive. Currency exchange providers are often in airports and hotels, although the exchange shops in a city center are likely to be cheaper overall.
Best way to get CAD
You can get CAD in cash before you leave, exchange on arrival, or take money from an ATM when you get to your destination. Each method has its own pros and cons. Generally, using local ATMs can offer a good exchange rate, and is convenient and secure. You won’t need to carry lots of cash at any one time, making this a safe option - just make sure you top up on cash before you head off to any rural or out of the way areas where ATM access may be more limited.
Best place to exchange CAD in Australia
If you want to exchange CAD in Australia you’ll need to shop around, looking at the currency exchange options available to you online and in your local area. The availability can vary quite a lot - and so can the costs. Bear in mind that as well as any quoted exchange cost, you may also find fees are added to the exchange rate offered. You’ll need to review the overall costs looking at both fees and rates before you choose the right place to exchange CAD in Australia, so you know you’re getting the best available deal.
Paying for the trip in AUD
If you’re paying for things in Canada with a AUD bank card you might find a foreign transaction fee is added. This pushes up your costs when you spend in a foreign currency, and can be tricky to calculate.
Travel debit cards don’t always work this way. When you make purchases in Canada using the Wise card you can either choose to convert your account balance to CAD in advance in the Wise app, or just leave your balance in AUD and let the card handle the transaction when you pay. You’ll always get the lowest available fee and there are no extra foreign transaction charges.
Conclusion - Currency in Canada
You won’t be able to pay in AUD when you visit Canada - so learning about the currency you need is essential. Whether you decide to use a travel debit card from a service like Wise , or stock up on CAD in cash in advance, knowing the mid-market exchange rate can help you get the best available deal. Use this guide to learn all you need to know about the options, rates and fees for exchanging AUD to CAD, and make your money go further while you’re away.
The official currency in Canada is CAD. You can’t usually pay in AUD in Canada, so you’ll need to plan in advance to get your travel money sorted. Consider ordering a travel debit card from a service like Wise, for low cost conversions to CAD and convenient spending and withdrawals - and remember that knowing the AUD to CAD mid-market exchange rate is essential to check you’re getting a fair deal on currency exchange.
FAQ - Currency in Canada
What is the currency in Canada called?
The official currency in Canada is the Canadian Dollar. You may also see the code CAD and the currency symbol C$.
What's the currency in Ottawa?
The official currency in Ottawa is the Canadian Dollar. You’ll only be able to spend in CAD while you’re there.
What is the old Canada currency?
Today the currency in Canada is the Canadian Dollar. If you’re worried about currencies changing, why not get a travel debit card from a service like Wise which will automatically pick the currency needed in your destination when making a payment - with no penalties or inflated fees.
What is the best currency to take to Canada?
You’ll only be able to spend in CAD while you’re in Canada. Carrying some money in cash and using a travel debit card from a service like Wise is usually the best way to spend while you’re away from home.