Ordering Currency by Mail

A friend has asked me to think about a trip to Canada this summer and I started thinking about the need for some Canadian currency.

I noticed that my bank’s online banking app requires me to order the currency in advance for pickup at the local branch or by mail.

It’s simple enough for me to go to the branch but I’m thinking about trying the home delivery option using the USPS.

In my situation there is no fee for this service, due to my relationship with the bank, but the exchange rate is not as generous as it could be.

My little experiment is to see how I might acquire some US currency in the event that I ever become home bound.

I’m wondering if any of you have used this type of banking service and what your experience has been.

On a road trip through Canada (from US), I went into a WalMart and used the ATM to get Canadian cash with my debit card. Easy. Don't know what the exchange rate was. Did the same in Guatemala.

In Italy, I used my credit card to make purchases. The bank charged an exchange rate fee that, to me, seemed high.

GoodEnuff said:

On a road trip through Canada (from US), I went into a WalMart and used the ATM to get Canadian cash with my debit card. Easy. Don't know what the exchange rate was. Did the same in Guatemala.

In Italy, I used my credit card to make purchases. The bank charged an exchange rate fee that, to me, seemed high.

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That reminds me of an old trick I used to do for gold diggers at clubs in my younger days. When I got my Saturday night money from the ATM, I would get the receipt in pesos. When a girl asked for my phone number I wrote it on the back of the ATM receipt. It worked perfectly as long as they didn't know Spanish.

Aunt Bea said:

A friend has asked me to think about a trip to Canada this summer and I started thinking about the need for some Canadian currency.

I noticed that my bank’s online banking app requires me to order the currency in advance for pickup at the local branch or by mail.

It’s simple enough for me to go to the branch but I’m thinking about trying the home delivery option using the USPS.

In my situation there is no fee for this service, due to my relationship with the bank, but the exchange rate is not as generous as it could be.

My little experiment is to see how I might acquire some US currency in the event that I ever become home bound.

I’m wondering if any of you have used this type of banking service and what your experience has been.

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Ive ordered on line before, both from the Post Office and a major bank. I was tempted to get the money delivered, but thought it might be too risky.

I'm curious about the exchange rate they are giving you. For example, in the UK £104.12 ($140.92 US) will buy me $180 Canadian. It seems that often it is better to take a relatively small amount of foreign cash, and pay mostly by debit card once you get there. Or at least it does with UK bank debit cards I use.

Aunt Bea said:

A friend has asked me to think about a trip to Canada this summer and I started thinking about the need for some Canadian currency.

I noticed that my bank’s online banking app requires me to order the currency in advance for pickup at the local branch or by mail.

It’s simple enough for me to go to the branch but I’m thinking about trying the home delivery option using the USPS.

In my situation there is no fee for this service, due to my relationship with the bank, but the exchange rate is not as generous as it could be.

My little experiment is to see how I might acquire some US currency in the event that I ever become home bound.

I’m wondering if any of you have used this type of banking service and what your experience has been.

Click to expand...

Wait until you are IN Canada, go to ANY ATM, and use your Visa or Mastercard to make a cash withdrawal in Canadian currency. Your credit/debit card company will automatically do the currency conversion calculation instantly. American Express is NOT nearly as accepted in Canada, as Visa or Mastercard is. SOME Canadian retail stores MAY accept US currency, BUT they are under no legal obligation to do so.

Why? Try buying anything IN the USA, using Canadian currency. JIMB>

I used to order currency, years ago, and it was all fine. But as stated, use a debit card when you get there. Better, put everything you can on credit card and get that good exchange rate. Like all foreign travel, if you are asked if you want to pay with a cc in local currency or U.S., always pick the local. We go to Canada regularly and the only cash we have ever used is for laundry.

retiredtraveler said:

I used to order currency, years ago, and it was all fine. But as stated, use a debit card when you get there. Better, put everything you can on credit card and get that good exchange rate. Like all foreign travel, if you are asked if you want to pay with a cc in local currency or U.S., always pick the local. We go to Canada regularly and the only cash we have ever used is for laundry.

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Some Canadian coin laundries, especially the ones near a University campus, have payment by credit card now, no coins required. This means no money in the machines, and no reason for somebody to try to break into them, either. Each washer and dryer has a credit card slot on the front of the machine. You tap your card on the card reader, to pay for the use of that individual machine.

Canada is increasingly becoming a cashless economy. The Toronto Transit buses, street cars, and subway stations no longer accept cash payments, just debit or credit cards. JIMB>

OneEyedDiva said:

No way in h*ll I'd trust the USPS with money.

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That was my first thought but then I decided if the bank offers it as a routine service the risk must be quite low or they would discontinue it.

I also thought about how many relatively expensive purchases we make that are routinely handled by home delivery companies with a fairly insignificant number of problems and a process to resolve the issues that do occur.

I’m thinking that in reality it’s just another attitude adjustment or shift in my thinking about everyday life.

For me the Canadian currency isn’t the real issue, it’s the experiment of having access to small amounts of cash if I become house bound and don’t have a trusted or convenient contact to do my banking.

I may forget the Canadian currency idea and order a couple hundred dollars in US currency just to see how it works.

I should probably do a bit of research on and become familiar with the various apps like Venmo that allow the transfer of small amounts of money between people.

When I crossed the border to CA and was planning to spend a few days there, I'd just go to the local bank and exchange my American money for Canadian. Otherwise I just used my American money if it was a day trip.

I don't think I'd like using an ordering currency by mail under any circumstances. Cannot your bank make the exchange for you?

Lewkat said:

I don't think I'd like using an ordering currency by mail under any circumstances. Cannot your bank make the exchange for you?

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Yes, I can order it and pick it up at the local branch or they can mail it to me.

OneEyedDiva said:

No way in h*ll I'd trust the USPS with money. Your experience may be different than mine, but I wish I had a dollar for every time someone else has received my mail and I received someone else's. Good thing my neighbors are honest and either bring the mail to me or sit it on top of the box. Once it was obviously a check for a man who lived in a different town and whose address didn't vaguely resemble mine! I took the mail to the post office and spoke with the delivery supervisor.

Years ago, my step daughter mailed my husband's phone back to him...express mail. He didn't get it for months. I found out from a clerk who remembered me when I inquired about the package a fourth time, that she had found it although someone had put in the wrong place. It is also known that postal employees have stolen money from what were obviously greeting cards. If it's easy for you to pick the money up from the bank...that's what I think you should do. IMO it's a safer option.

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I've had similar problems with USPS, once they sent me my neighbors new credit card and pin number on the same day. I also have 'Informed Delivery' and see I am not getting all of my mail or it's always late. Often the mail carrier leaves the row of boxes open and just leaves. They have sent me notices saying my mail box was blocked and they couldn't deliver a package, when they actually just drove right past my building. I have seen them delivering mail at 8 pm because they visit someone for quite awhile down the street. One carrier was shot in the leg for being nasty with a resident. The USPS is absolutely terrible in my area.

OneEyedDiva said:

No way in h*ll I'd trust the USPS with money. Your experience may be different than mine, but I wish I had a dollar for every time someone else has received my mail and I received someone else's. Good thing my neighbors are honest and either bring the mail to me or sit it on top of the box. Once it was obviously a check for a man who lived in a different town and whose address didn't vaguely resemble mine! I took the mail to the post office and spoke with the delivery supervisor.

Years ago, my step daughter mailed my husband's phone back to him...express mail. He didn't get it for months. I found out from a clerk who remembered me when I inquired about the package a fourth time, that she had found it although someone had put in the wrong place. It is also known that postal employees have stolen money from what were obviously greeting cards. If it's easy for you to pick the money up from the bank...that's what I think you should do. IMO it's a safer option.

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I have important medication I need to be concerned about.

Aunt Bea said:

That was my first thought but then I decided if the bank offers it as a routine service the risk must be quite low or they would discontinue it.

I also thought about how many relatively expensive purchases we make that are routinely handled by home delivery companies with a fairly insignificant number of problems and a process to resolve the issues that do occur.

I’m thinking that in reality it’s just another attitude adjustment or shift in my thinking about everyday life.

For me the Canadian currency isn’t the real issue, it’s the experiment of having access to small amounts of cash if I become house bound and don’t have a trusted or convenient contact to do my banking.

I may forget the Canadian currency idea and order a couple hundred dollars in US currency just to see how it works.

I should probably do a bit of research on and become familiar with the various apps like Venmo that allow the transfer of small amounts of money between people.

Click to expand...

I've never used Venmo, but the first article that made me aware of it was about a woman who's account was hacked when she used it. That's probably because she didn't set up safeguards though. My husband started me using Cash App (CA) about a decade ago and we've never had a problem with it, so I highly recommend it. My close family members also use it and we transfer money back and forth frequently. I've even used it to make a donation to a friend's cause and to one of my favorite local charities.

Before opening an account, I instituted these safeguards:
~Connected CA to my account in which I keep the lowest balances (between $250 and $500).
~Use a pin that no one can associate with me (eg: my [or my son's] DOB, partial zip, etc.)
~Double check to make sure my recipients still have the same Cash App ID before I send money (all ID's start with $)
~Double check my transactions. You can do this within the app history and via the monthly statements.
~Use an email set up for business and financial purposes only. And most recently, an email that is touted as being much more private than Gmail.....Proton.me.

You can send money by transferring funds from your bank into CA account first, or by connecting your bank's debit card and checking that as an option. When withdrawing money from Cash App, the money will hit your bank in two days unless you pay extra for an immediate transfer. The transactions will show up on your bank page as well. Cash App also offers various deals when using their CA card, which you will get after opening an account. You can only spend what's in your CA account.

Another option to send money is Zelle. But Zelle can be used with only one financial institution. I found this out when after attempting a Zelle transaction at Chase, they notified me that I couldn't use Zelle with them because I was already using it at another bank.

Oldeagle66 said:

I've had similar problems with USPS, once they sent me my neighbors new credit card and pin number on the same day. I also have 'Informed Delivery' and see I am not getting all of my mail or it's always late. Often the mail carrier leaves the row of boxes open and just leaves. They have sent me notices saying my mail box was blocked and they couldn't deliver a package, when they actually just drove right past my building. I have seen them delivering mail at 8 pm because they visit someone for quite awhile down the street. One carrier was shot in the leg for being nasty with a resident. The USPS is absolutely terrible in my area.

I have important medication I need to be concerned about.

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That's terrible OE66!! USPS does deliver my medications and so far I have only had one issue. Last week my meds were put in the box of the neighbor who lives one door away from me. She saw me coming in from the laundry room when she was going to work and handed me the envelope which she had sat on top of our mailboxes. I used to have the meds sent to my post office box, but they went up so high on their boxes a couple of years ago, that I didn't renew. Luckily around the same time, we got new mailboxes that are twice the size of our old ones. so the medications fit with no problems now.