Calgary
Cashless Payments
Information on the widespread use of debit cards, credit cards, and mobile payment systems in Calgary.
Sections
1. Payment Methods in Calgary
Calgary is highly cashless-friendly, and most businesses, from large retailers to small cafes, accept digital payments. Here are the most common methods:
a. Credit and Debit Cards
- Accepted Networks: Visa, Mastercard, and American Express are widely accepted. Interac (a Canadian debit card network) is also very common for local transactions.
- Tap-to-Pay: Contactless payments (tap-to-pay) are standard for transactions under CAD 250. This is supported by most cards and devices.
- Chip-and-PIN: For larger transactions, you may need to insert your card and enter a PIN.
b. Mobile Payment Apps
- Apple Pay, Google Pay, and Samsung Pay: These are widely accepted at most businesses equipped with contactless payment terminals.
- Bank-Specific Apps: Canadian banks like RBC, TD, and Scotiabank offer their own mobile payment apps, which are popular among locals.
c. Digital Wallets and Online Payment Platforms
- PayPal: Commonly used for online purchases and some in-person transactions.
- Venmo and Zelle: These are not widely used in Canada. Stick to Canadian or global platforms like PayPal or Interac e-Transfer.
d. Interac e-Transfer
- A popular method for peer-to-peer (P2P) payments in Canada. It allows you to send money directly from one bank account to another using email or phone numbers. This is especially useful for splitting bills or paying rent.
e. Prepaid Cards
- Prepaid Visa or Mastercard cards are available at convenience stores and can be used for cashless payments. These are a good option for visitors who donโt want to use their primary credit or debit cards.
2. Common Costs and Fees
While cashless payments are convenient, there are some costs to be aware of:
a. Currency Conversion Fees
- If youโre using a foreign credit or debit card, your bank may charge a currency conversion fee (typically 2-3% of the transaction amount) when converting to Canadian Dollars (CAD).
b. ATM Withdrawal Fees
- If you need cash, ATMs may charge a withdrawal fee (CAD 2-5 per transaction), and your home bank may also impose additional fees.
c. Interac e-Transfer Fees
- For locals, Interac e-Transfers are often free or cost around CAD 1 per transaction, depending on the bank.
d. Credit Card Surcharges
- Some small businesses may add a surcharge (usually 1-3%) for credit card payments to offset processing fees. This is not common in larger establishments.
3. Setting Up Digital Payment Options
As a visitor or immigrant, youโll need to set up your payment methods to ensure smooth transactions. Hereโs how:
a. Visitors
- Credit/Debit Cards: Ensure your cards are enabled for international use and support contactless payments.
- Prepaid Cards: Purchase a prepaid Visa or Mastercard in Calgary for local use.
- Mobile Wallets: Add your credit or debit card to Apple Pay, Google Pay, or Samsung Pay before arriving in Calgary.
- Currency Exchange: If you prefer to use cash occasionally, exchange your home currency for CAD at a bank or currency exchange service.
b. Immigrants
- Open a Canadian Bank Account: Major banks in Calgary include RBC, TD, Scotiabank, BMO, and CIBC. Opening an account will give you access to a Canadian debit card and Interac e-Transfer.
- Documents Needed: Passport, proof of address, and immigration documents (e.g., work permit, study permit, or PR card).
- Apply for a Credit Card: Once you have a bank account, apply for a Canadian credit card to build your credit history.
- Set Up Mobile Payments: Link your Canadian debit or credit card to mobile payment apps like Apple Pay or Google Pay.
- Download Banking Apps: Most Canadian banks have user-friendly apps for managing accounts and making payments.
4. Currency Considerations
The official currency in Calgary (and all of Canada) is the Canadian Dollar (CAD). Hereโs what you need to know:
a. Exchange Rates
- Exchange rates fluctuate daily. Use a reliable currency converter app (e.g., XE Currency) to check rates.
- Avoid exchanging money at airports, as they often have higher fees. Use banks or reputable currency exchange services in Calgary.
b. Card Transactions
- Transactions made with foreign cards will be converted to CAD. Check with your bank for the exact exchange rate and fees.
c. Tipping
- Tipping is customary in Calgary, especially in restaurants, taxis, and for services like haircuts. Tips are typically added to the bill via card payment (15-20% is standard).
5. Local Practices and Cultural Norms
Understanding local practices will help you adapt to Calgaryโs cashless culture:
a. Preference for Cashless Payments
- Most Calgarians prefer cashless payments for convenience and speed. Even small businesses and food trucks often accept cards or mobile payments.
b. Contactless Payments
- Tap-to-pay is extremely popular. Locals expect quick transactions, so ensure your card or device is ready to tap.
c. Receipts
- Receipts are usually provided electronically or printed upon request. Keep them for expense tracking or returns.
d. Public Transit
- Calgary Transit accepts cashless payments for purchasing tickets or passes. Use the MyFare app to buy and store transit tickets on your smartphone.
e. Emergencies
- While cashless payments dominate, itโs wise to carry a small amount of cash (e.g., CAD 20-50) for emergencies or in case a business doesnโt accept cards.
6. Tips for a Smooth Cashless Experience
- Notify Your Bank: Inform your bank of your travel plans to avoid card blocks.
- Check Card Compatibility: Ensure your card supports chip-and-PIN and contactless payments.
- Use Local Apps: Download apps like Interac e-Transfer or MyFare for seamless local transactions.
- Monitor Transactions: Use banking apps to track spending and avoid overdraft fees.
By following this guide, youโll be well-prepared to navigate Calgaryโs cashless payment system with ease. Whether youโre a visitor or a new resident, the cityโs modern infrastructure and widespread acceptance of digital payments will make your experience convenient and efficient.