Why Visitors To Canada Don’t Bring Much Cash

With today being the last day of July, we’re practically halfway through the summertime already. While this may seem like a downer, we’re here to remind you that there’s still an entire month of summer left! Technically, the summer season ends on Monday, September 23rd this year. But, we all know that once school is in, during the first week of September, summer vacation is done.

Speaking of school being out, at the present time, this is the time of year when most people take vacations. And while, as a busy business owner, you might not be vacationing yourself, it’s important to remember than many people from all over the world often choose Canada as their summer vacation destination.

Is your place of business welcoming to visitors of Canada?

There are various ways to ensure that your store is tourist-friendly. And, we’d argue that the most significant one is the Visa and MasterCard logos you place at your storefront. The fact of the matter is that most travellers don’t carry a lot of cash on them. Yes, our Canadian dollars are exquisitely designed and colourful. However, it’s much safer to travel with credit cards than it is to carry cash.

The first and most obvious reason is that if cash is lost, it’s generally lost for good. There’s no guaranteed method of ever seeing your lost money again. Credit cards, on the other hand, can easily be replaced. Any fraudulent charges placed on a lost or stolen credit card can be reversed. This is one of the top draws of any credit card company.

Credit cards are widely accepted all over Canada.

To a person travelling to Canada, having a credit card is a definite plus. These days, it’s difficult to locate a store that is “cash only”. Business owners everywhere are well aware of just how popular credit card use is. It’s a good thing Canada is so plastic-friendly!

“Credit cards and debit cards are widely accepted across Canada and ATMs are easy to find in urban areas so it’s not necessary to bring loads of cash,” Jane McLean advises visitors on TripSavvy.com, “Having some cash on hand when you arrive is a good idea though for tipping or odd small purchases.”

Bringing cash to Canada can present some issues.

As explained by Lisa Maloney on USAToday.com, there is no official limit to how much money you can bring to Canada. However, if the total amount is worth more than $10,000 in Canadian currency, it must be declared on a form.

“If you don’t declare the entire value of the currency you’re carrying, the Canada Border Services Agency has the authority to seize all of it,” she informs, “They may return it after you pay a penalty, which can range anywhere from CAN $250 to $5,000.”

Is your place of business an attractive place to shop for tourists? Do you accept credit cards at your store? At Canadian POS, we believe there’s no better way to do so than with the revolutionary Poynt Smart Terminal. Call us at 1-877-748-2884 or email us at info@cdnpos.com to learn more!