Canadian Currency

Currency Information

It's a good idea to have some Canadian currency with you upon your arrival, as there is a chance your debit/credit cards may be incompatible with the local system. The abbreviation for the Canadian dollar is CAD.

Important Note: Canada does not use pennies anymore. All cash transactions are rounded to the nearest 5 cents.

Canadian Bills

Canadian bills are colorful and made of polymer for durability:

$5 Bill Blue
$10 Bill Purple
$20 Bill Green

$50 Bill Red
$100 Bill Brown

Canadian Coins

Current Coins in Circulation:

5¢ (Nickel) - Silver colored
10¢ (Dime) - Small, silver colored
25¢ (Quarter) - Silver colored, largest coin
$1 (Loonie) - Gold colored, has a loon on it
$2 (Toonie) - Two-toned (gold center, silver rim)

No More Pennies

Canada eliminated the penny in 2013. Cash purchases are rounded to the nearest 5 cents, but electronic payments remain exact.

Payment Methods

Widely Accepted:

Credit Cards (Visa, Mastercard, American Express)
Debit Cards (Interac)
Cash
Contactless payments (Tap)
Mobile payments (Apple Pay, Google Pay)

Tips for New Arrivals:

Most transactions can be done electronically
Always carry some cash for small purchases
Contactless payment limit is typically $250
PIN is required for larger transactions

Exchange and Banking

You can exchange currency at:

Banks: Best rates, but may have fees
Airport exchange counters: Convenient but higher fees
Currency exchange services: Competitive rates
ATMs: Usually best rates if using international cards

Money-Saving Tip: Consider opening a Canadian bank account soon after arrival to avoid international transaction fees on daily purchases.

Quick Currency Facts

Currency Code: CAD
Symbol: $ or C$
Smallest Coin: 5¢ (Nickel)
Largest Bill: $100
Material: Polymer bills, metal coins

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DLI Information

Guildford College is a Designated Learning Institution (DLI) and we are approved to host international students. To apply for a study permit, international students need an acceptance letter from a DLI. For more information about DLIs, visit the Government of Canada's website. DLI Number: O179335207982

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