Global Major Cities Guide

A basic understanding of Canada's official currency, including coins, bills, and their denominations.

Sections

1. Overview of the Canadian Dollar (CAD)

Currency Code: CAD
Symbol: $ (or C$ to distinguish it from other dollar currencies)
Denominations:
- Coins: 5 cents (nickel), 10 cents (dime), 25 cents (quarter), $1 (loonie), $2 (toonie)
- Banknotes: $5, $10, $20, $50, $100
Exchange Rate: The exchange rate fluctuates daily. Check online or with your bank for the most up-to-date rates before exchanging money.

2. Currency Exchange Options in Calgary

If you’re visiting or moving to Calgary, you’ll need to exchange your home currency for CAD. Here are the best options:

a. Banks

Major Banks in Calgary: RBC (Royal Bank of Canada), TD Canada Trust, Scotiabank, CIBC, and BMO (Bank of Montreal).
Advantages: Banks typically offer competitive exchange rates and are reliable.
Disadvantages: Banks may charge a small fee for currency exchange, and you may need to have an account with them.
Tip: Visit during business hours (usually 9:30 AM to 5:00 PM, Monday to Friday).

b. Currency Exchange Services

Specialized Providers: Calgary has currency exchange offices like Calforex Currency Exchange (located in downtown Calgary and at Calgary International Airport).
Advantages: These services often have better rates than banks and no account is required.
Disadvantages: Rates may vary, so compare before exchanging.

c. ATMs

Using ATMs: Many ATMs in Calgary allow you to withdraw CAD directly using your foreign debit or credit card.
Advantages: Convenient and widely available.
Disadvantages: Your home bank may charge foreign transaction fees, and the ATM operator may charge a withdrawal fee.

d. Calgary International Airport (YYC)

Currency exchange kiosks are available at the airport, but they often have less favorable rates compared to banks or city-based exchange offices. Use them only if necessary.

e. Credit Cards

Many credit cards offer competitive exchange rates for foreign transactions. However, check if your card charges foreign transaction fees.

3. Cost of Living in Calgary

Calgary is one of Canada’s more affordable major cities, especially compared to Toronto or Vancouver. Here’s a breakdown of typical costs:

a. Housing

Rent:
- 1-bedroom apartment in the city center: CAD 1,500–2,000/month
- 1-bedroom apartment outside the city center: CAD 1,200–1,600/month
Utilities: CAD 150–250/month (electricity, heating, water, garbage)

b. Food

Groceries: CAD 300–500/month for a single person.
Dining Out:
- Fast food meal: CAD 10–15
- Mid-range restaurant meal: CAD 20–40 per person

c. Transportation

Public Transit: Calgary Transit offers buses and the CTrain (light rail). A monthly pass costs CAD 112 for adults.
Gasoline: CAD 1.50–1.80 per liter (prices fluctuate).

d. Miscellaneous

Coffee: CAD 3–5
Movie Ticket: CAD 15–20
Gym Membership: CAD 50–80/month

4. Tipping Customs in Calgary

Tipping is customary in Canada, and Calgary is no exception. Here’s what you need to know:

a. Restaurants

Standard Tip: 15–20% of the pre-tax bill.
Buffets: 10% is acceptable.

b. Bars

Tip CAD 1–2 per drink or 15–20% of the total bill.

c. Taxis and Rideshares

Tip 10–15% of the fare.

d. Hotels

Housekeeping: CAD 2–5 per night.
Bellhop: CAD 2–5 per bag.
Concierge: CAD 5–20, depending on the service provided.

e. Other Services

Hairdressers, spa services, and similar: 10–20%.

5. Cash vs. Card Usage in Calgary

a. Credit and Debit Cards

Widely Accepted: Credit and debit cards are the most common payment methods in Calgary. Visa, Mastercard, and American Express are widely accepted.
Tap-to-Pay: Contactless payment (tap) is very popular and available almost everywhere.
Foreign Cards: Ensure your card is enabled for international transactions.

b. Cash

Less Common: While cash is still accepted, most people in Calgary prefer card payments.
When to Use Cash: Small businesses, farmers’ markets, or street vendors may prefer cash. Always carry a small amount of cash for emergencies.

c. Mobile Payments

Apple Pay, Google Pay, and other mobile payment systems are widely accepted.

6. Local Considerations and Tips

a. Taxes

Sales Tax: Alberta does not have a provincial sales tax (PST), so you’ll only pay the federal Goods and Services Tax (GST) of 5% on most purchases. This makes Calgary more affordable compared to other provinces with higher taxes.

b. Avoiding High Exchange Fees

Use a credit card with no foreign transaction fees for the best exchange rate.
If you need cash, withdraw larger amounts at once to minimize ATM fees.

c. Budgeting for Winter

Calgary experiences cold winters, so budget for warm clothing if you’re visiting or moving during this season. Winter gear can cost CAD 200–500.

d. Emergency Funds

Always have access to emergency funds, either in cash or through a credit card, as unexpected expenses (e.g., medical, transportation) can arise.

e. Banking in Calgary

If you’re staying long-term, consider opening a Canadian bank account. This will save you money on foreign transaction fees and make it easier to pay bills or receive payments.

7. Summary of Key Tips

Use credit or debit cards for most transactions, but carry a small amount of cash for emergencies or small vendors.
Compare exchange rates at banks and currency exchange offices to get the best deal.
Be prepared to tip service workers, as tipping is an important part of Canadian culture.
Take advantage of Alberta’s low tax rate (5% GST only) when shopping.
Plan your budget carefully, especially for housing and transportation, as these are the largest expenses in Calgary.

By following these tips and understanding the local customs, you’ll be well-prepared to manage your finances effectively in Calgary. Let me know if you need further assistance!