Quote:
Originally Posted by speakingtohe
As to the foreign country aspect try spending a Canadian penny in the US. Most Canadian businesses take US money just as if it is Canadian and give appropriate exchange. Most US stores and restaurants etc. refuse Canadian currency and are just as horrified at a penny as a $100 bill. Didn't used to be that way.
Helen
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Some banks won't exchange coins. They will only deal in paper currency for cash exchange.
Others charge outrageous fees, or make it difficult by not offering conversion at all branches. That means if you have a regular deposit drop, you have to do a special bank run, likely to a completely different branch, just to exchange the foreign currency. Those using a pickup service also have to make a special bank run, because foreign currency generally can't be sent with a regular deposit.
There may be some areas right on the Canadian border for whom it's worth it (and could possibly get lower exchange fees due to volume, and their banks might be more accommodating because of the location) but I imagine for most businesses, it simply isn't worth the trouble.