Banks, ATMs and money exchange - moreMontreal eGuide

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Banks, ATMs and money exchange

The different Canadian bills and coins are as follows :

Coins come in 5 cent, 10 cent, 25 cent, 1 dollar and 2 dollar denominations. The one dollar coin is sometimes called the loony (or huard in French because of the bird on the coin) and the two dollar coin is most often called a toony.

Bills come in 5, 10, 20, 50 and 100 dollar denominations. The 50 and 100 dollar bills are not accepted in certain small stores but you won't have problems with 20 dollar bills.

There are a lot of money exchange offices (in French, they are called "Bureaux de change") downtown on Ste-Catherine Street West, not far from the Info-Tourism office near the corner of Peel Street. You can also change your money at banks and other financial institutions. They pretty much all have the same exchange rate and they all charge a certain fee for the transaction. To find daily exchange rates for almost any currency, you can check out Accu-Rate

For more information, check out the "Should I change my money before coming to Montreal?" subsection of this guide.

Every bank or caisses populaires (credit unions) has an automatic teller machine connected to the System Plus, Cirrus Network and/or mostly to the Interac network. Most ATMs in the eastern part of the city (east of Bleury/Parc ave.) have on-screen menus in French only (although some change language depending on what language you ask the bank to be serviced in but I don't know if that works for foreign cards). The only French you'll need is : "entrez votre NIP" which means "enter your PIN", "retrait" which means "withdrawal", then enter the amount and press the "OK" button (or the "annuler" button which means "cancel") and if it asks "Une autre opération", then answer "Non". The exchange rate will automatically be computed if you are withdrawing from a foreign account.

Most stores and restaurants accept Visa and Mastercard, but American Express and other cards are not always accepted. So call ahead just in case.

You can also get travelers cheques. You won't have any problems exchanging them at banks or "bureaux de change" but not all stores accept them as payment.

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Last update: 01/02/2024