Halifax

1. Local Currency

• Currency Name: The official currency in Halifax (and all of Canada) is the Canadian Dollar (CAD).
• Denominations:
  • Coins: 5 cents (nickel), 10 cents (dime), 25 cents (quarter), $1 (loonie), $2 (toonie).
  • Banknotes: $5, $10, $20, $50, and $100. The $20 bill is the most commonly used.
• Exchange Rates: Exchange rates fluctuate, so check the current rate before converting your money. As of late 2023, 1 USD is approximately 1.35 CAD, but this can vary.
• Where to Exchange Currency:
  • Banks (e.g., RBC, Scotiabank, TD Bank, CIBC, BMO).
  • Currency exchange offices (e.g., at Halifax Stanfield International Airport or in downtown Halifax).
  • ATMs (offer competitive rates but may include fees).

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2. Common Forms of Payment

Halifax is a modern city, and most businesses accept a variety of payment methods. Here are the most common ones:

a. Credit Cards

• Widely accepted at restaurants, shops, hotels, and even taxis.
• Major credit cards like Visa, Mastercard, and American Express are commonly used.
• Some smaller businesses may not accept American Express due to higher transaction fees.
• Tap-to-pay/contactless payments are very popular, with most businesses supporting this feature.

b. Debit Cards

• Debit cards are also widely used, especially for everyday purchases.
• Canadian debit cards operate on the Interac network, which is the most common system in Canada.
• International debit cards (e.g., those on the Visa or Mastercard networks) are often accepted, but check with your bank for compatibility.

c. Cash

• Cash is still accepted everywhere, but its use is declining due to the convenience of electronic payments.
• It’s a good idea to carry a small amount of cash for emergencies or small purchases (e.g., at local markets or food trucks).

d. Mobile Payments

• Mobile payment systems like Apple Pay, Google Pay, and Samsung Pay are widely accepted in Halifax.
• Some businesses also accept payments through apps like PayPal or Venmo, but this is less common.

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3. Costs and Fees

a. Currency Exchange Fees

• Banks and ATMs typically offer better exchange rates than airport kiosks or currency exchange offices, but they may charge a small fee (around 2-3%).
• Credit card companies may charge a foreign transaction fee (usually 2.5-3%) for purchases made in CAD if your card is issued outside Canada.

b. ATM Fees

• Using an ATM not affiliated with your bank may incur fees (around $3-5 CAD per transaction).
• Look for Global ATM Alliance partners if your bank is part of this network to avoid extra fees.

c. Credit Card Fees

• Some credit cards charge foreign transaction fees, so consider using a card with no foreign transaction fees if you’re visiting from abroad.

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4. Banking Procedures

If you’re staying in Halifax for an extended period, opening a Canadian bank account can save you money on fees and make payments easier. Here’s how:

a. Major Banks in Halifax

• Royal Bank of Canada (RBC)
• Scotiabank
• Toronto-Dominion Bank (TD)
• Bank of Montreal (BMO)
• Canadian Imperial Bank of Commerce (CIBC)

b. How to Open a Bank Account

• Required Documents: Passport, visa or immigration documents, proof of address, and possibly a Social Insurance Number (SIN) if you’re working in Canada.
• Many banks offer special accounts for newcomers with perks like no monthly fees for the first year.

c. ATMs

• ATMs are widely available throughout Halifax, including at banks, shopping malls, and convenience stores.
• Use ATMs affiliated with major banks to avoid high withdrawal fees.

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5. Cultural Considerations Regarding Tipping

Tipping is an important part of Canadian culture, and Halifax is no exception. Here’s what you need to know:

• Restaurants: Tipping is expected, with the standard being 15-20% of the pre-tax bill.
• Bars: Tip $1-2 per drink or 15-20% of the total bill.
• Taxis: Tip around 10-15% of the fare.
• Hotels: Tip $2-5 per night for housekeeping and $1-2 per bag for bellhops.
• Other Services: For services like haircuts or spa treatments, tipping 10-20% is customary.

Tipping is usually done in cash, but if you’re paying by card, you can add the tip to your total when prompted.

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6. Credit Card Usage

• Chip-and-PIN: Most credit cards in Canada use chip-and-PIN technology. If your card only has a magnetic stripe, it may not be accepted everywhere.
• Contactless Payments: Tap-to-pay is extremely common, with a limit of around $250 CAD per transaction (varies by card issuer).
• Dynamic Currency Conversion (DCC): Some merchants may offer to charge your card in your home currency instead of CAD. This is usually more expensive due to poor exchange rates, so it’s better to pay in CAD.

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7. Potential Issues and Tips for Visitors

a. Card Declines

• Inform your bank or credit card company of your travel plans to avoid having your card declined for suspicious activity.
• Carry a backup payment method in case your primary card doesn’t work.

b. Limited Acceptance of Foreign Cards

• Some smaller businesses may not accept international cards, especially those without chip-and-PIN functionality.
• Prepaid travel cards in CAD can be a good alternative.

c. Sales Tax

• Nova Scotia has a 15% Harmonized Sales Tax (HST), which is added to most goods and services. Be aware that the price you see on the tag is usually before tax.

d. Cashless Businesses

• Some businesses in Halifax are moving toward cashless operations, so having a credit or debit card is essential.

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8. Final Tips

• Keep Small Bills and Coins: Having small denominations is useful for tipping, public transit, or small purchases.
• Use Public Transit Apps: Halifax Transit accepts cash for bus fares, but you can also use apps like HotSpot to pay for parking or transit.
• Check for Discounts: Some attractions and services offer discounts for paying with cash or debit instead of credit.

By understanding these payment methods and cultural norms, you’ll be well-prepared to navigate Halifax with ease. Enjoy your time in this beautiful city!