Quote:
Originally Posted by CWatkinsNash
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.
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I am talking pennies and nickels here. in my experience an American restaurant or store will painstakingly sort those out and hand them back even though they are worth more in metal value alone. Especially noticeable close to the border, but also happens in rural areas and large cities such as New York. They notice an accent or some other indication you might be Canadian and start checking the small change. And seriously we don't do this in Canada. I always sort my Canadian coins before going to the US although much to my dismay an occasional one stays hidden in my pocket.
If I was a business owner in the US I might be inclined to say, just take the darn pennies, we'll absorb the possible 3 cent loss and spend the sorting time doing something more useful. But different cultures different values, nothing wrong with that.
Helen