Hi,
You can use credit / debit cards almost everywhere. Restaurant waiters
also usually have wireless credit / debit terminals that they will bring to
your table for you to settle your bill.
How much your bank charges depends on your Canadian bank and the
banking plan you are on. For instance, on my plan through the Bank Of
Montreal, I get (I think) 20 free transactions a month and then after that
I'm charged $0.50CDN/piece. However, if I go to a Bank Of Montreal ATM and
withdraw cash, there is no service fee for that.
There is no service fee for using *credit* cards, only *debit* cards
tend to have the fee.
I live in a really rural area so I can't always get to a Bank Of
Montreal machine for cash. So what I usually end up doing, is either pay by
credit and then pay of the balance right away so I don't have to pay
interest, or when I do use my bank card to pay for something, I ask if I
can get cash back as well.
Yes, Canada converted to plastic notes a few years ago. We've also
eliminated the penny. For cashless transactions, you pay the exact amount
billed. If you're paying somebody in cash, it is rounded up or down to the
nearest 5 cents. And for $1 or $2, instead of notes, we've moved over to
coins.
I personally like the plastic notes. They're smoother and feel more
durable than the paper notes. I've had one go through a laundry load by
accident and it came out the other side fine.
- Tyler
On 19 December 2016 at 14:54, shirish शिरीष <[email protected]> wrote:
> Hi all,
>
> These are the questions I had asked of Canadians as debconf will be
> happening there (in the context of demonitization which took place in
> India)
>
> https://flossexperiences.wordpress.com/2016/12/18/
> demonetisation-indian-state-and-world/
>
> The queries/questions are as under -
>
> 1. How much of Canada’s economy is cashless i.e used to Electronic
> Money Transfer and other means (but not cash) and how much is cash,
> more in day-to-day usage and transactions. I am trying to get people’s
> perspective rather than some website which may serve only raw numbers,
> although even that would be appreciable.
>
>
> 2. Also what, if any charges/commission are paid to a Canadian bank
> for paying via card/electronic money transfer. I ask as India has
> reduced charges overall to 1% from 2% for making transactions upto INR
> 2000 in a day.
>
> I am sure there are and would be forex conversion charges as well as
> charges from home bank (whose card you bought) but from my limited
> experience in South Africa, there were also differences in
> charges/commission used by other bank ATMs in the same precises. Any
> idea or possibility of knowing which is good.
>
> 3. There has also been recent talk of plastic notes instead of paper
> currency. Plastic notes are supposed to be more copy-proof and also
> will work for much longer time. They will not soil as paper notes do.
>
> How have countries been looking at Plastic currencies. I do suspect
> there would be issues while destroying plastic money vis-a-vis paper
> currencies.
>
> Look forward to reading if somebody has some observations to make.
>
> --
> Regards,
> Shirish Agarwal शिरीष अग्रवाल
> My quotes in this email licensed under CC 3.0
> http://creativecommons.org/licenses/by-nc/3.0/
> http://flossexperiences.wordpress.com
> EB80 462B 08E1 A0DE A73A 2C2F 9F3D C7A4 E1C4 D2D8
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