Planning to visit the U.S.? Whether you’re going for a long weekend or an extended stay, there are a few simple tips that can help you save money—on things such as foreign exchange costs, transaction fees and ATM charges—so your dollar can go further while you’re south of the border.

Here are 5 ways you can travel in the U.S. for less.

1. Use a U.S.-based credit card4

Every time you use a Canadian credit card while in the U.S., you’re charged a foreign transaction fee, which is typically 2.5% of your purchase. That’s an additional $25 on every $1,000 you spend! And if you’re thinking that you’ve never seen this charge on your credit card statement, you’re right. This extra 2.5% is rolled into one currency cost, so all you see is the original U.S. price and the cost to you in Canadian dollars when you review your transactions.

This charge even applies if you buy something in the U.S. and return it. You pay the 2.5% fee on your purchase, but it doesn’t get reimbursed upon your return. The same goes if you use your Canadian credit card to pay for a hotel room in U.S. dollars and there is an error on the bill. You’ll be charged the 2.5% on the original amount, then pay it again once they issue the new bill. While your original bill will be refunded by the hotel, the 2.5% fee doesn’t come back to you – in effect, you would be paying 2.5% twice. Depending on your hotel bill, this could be a significant amount!

Instead of using your Canadian credit card, use a U.S.-based card. Available for no annual fee20, the RBC Bank Visa Signature Black card can help you save in more ways than one.

2. Open a U.S.-based bank account

A U.S.- based bank account gives you easy access to U.S. cash at over 50,000 no-fee2 ATMs, making it easy to get the cash you need throughout your vacation. What’s more, with a U.S.-based account, you won’t get hit with foreign exchange costs every time you withdraw, and you’ll avoid the 2.5% foreign transaction fee that may be applied to purchases made with your Canadian debit card.

You’ll also bypass the cost of purchasing bank drafts in order to pay U.S. bills – such as department store credit cards. Keep in mind, U.S. bills can only be paid in U.S. dollars, so a U.S.-based account can provide both convenience and savings.

3. Move money in one lump sum

Consider moving more money up front, to cover your entire trip. This step lets you take advantage of the more favorable foreign exchange rates that are available for higher amounts.

4. Prepare for the unexpected

Make sure you take advantage of the travel insurance benefits9 provided with U.S. Visa credit cards. Our Visa Signature Black and Visa Signature Black Plus cards offer built-in coverage – such as trip cancellation, lost luggage, auto collision damage waiver and more.  

5. Consider a cross-border banking package

If you’re going to the U.S. to work, live, study or travel, you can make your money go further with an RBC Bank U.S. bank account and a Visa Signature Black Credit card.

With this cross-border banking package you will:

  • Receive one of the best exchange rates RBC offers when you exchange currency between your RBC Royal Bank (Canadian) and your RBC Bank (U.S.) accounts
  • Save on wire fees with instant and free1 online cross-border money transfers 
  • Pay your U.S. bills in U.S. dollars
  • Pay no annual fee20 with your Visa Signature Black. Plus, you’ll earn valuable RBC Rewards points redeemable for travel, merchandise, gift cards or cash
  • Get cash at over 50,000 no-fee2 ATMs across the U.S.
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