$ Question for Canadians!
Hi,
I have a question for Canadians about currency exchange. I stopped by my bank - TD Canada Trust - to ask about exchanging Canadian dollars to Qatari riyals. They don't have any! The only riyals on the list is for Saudi Arabia, and they do exchange UAE currency.
I'm curious to know if you exchanged your money at the airport, or where else? I'm thinking if TD Canada Trust doesn't exchange the currencies, I'm not going to be able to use my ATM card to withdraw cash...I think???
Speaking of cash, how much cash would you recommend I exchange to have with me when I get to Doha?
Thanks!
THANK YOU so much, everyone, for your helpful responses! I will contact TD to inquire about the fees charged per interaction if I need to use my ATM card in Doha.
From what's been suggested it seems like the best thing to do is to bring some of my $US cash (maybe around $200 US?), just enough to tide me over for a bit until I set myself up with a bank - and not the Islamic one mentioned.
Would it make sense to maybe bring a bank money order of a couple thousdand in $US and then set up an account to have it converted over to riyals?
Thank you, again...
:-)
Hi
You might have got your answer from these posts. you should not have problem here. Qatar has good banking system. You better use your Credit Cards for your temporary use. if you got any problem write to me. i work in bank i will be happy if i can help any fellow canadian.
You can use your TD ATM card to withdraw cash from most bank machines here (QNB, Commercial Bank, HSBC, Ahli Bank, etc.). The only ones that don't seem to work (at least for me) are the Islamic Banks.
You'll probably only need about 300 - 500 Riyals at most as you step off the plane. I'm assuming you'll be picked up and transported either to your hotel or accomodation - get them to stop at an ATM or there may be one in your hotel.
Tips - check with TD about how much they charge per foreign ATM withdrawal - the amount my bank charges makes it worth my while to withdraw the max each time (equivalent of $1000CAD per day to a max of $3000/week)
Also, as a warning, if you lose your ATM card you will have to wait for a new one from Canada. Might be worth your while to make an arrangement with the bank before you leave to send a new one via courier (2 -3 days turnaround)
Canadian ATM cards work in Qatar.
Qatar Riyal is a currency not commonly available in the West, but don't worry you can use your Canadian ATM card here in Qatar.
If you want to have an idea of the exchange rate:
1.00 USD = 3.64061 QAR (QAR is pegged with the USD, and as such the rate is fixed)
1.00 CAD = 2.96121 QAR (today's exchange rate, for reference)
Oops! Forgot to mention I have a CIBC bank account, and those two banks I listed previously work fine!
Beela, you are better off using your credit card here if until you are established and paying it off before the interest starts via internet. The ATM fees from TD for using a foreign machine are quite high, you can check the rates with your bank. Also your credit card will be billed at the exchange rate and you loose nothing in conversion.
If you need some cash on hand, and the exchange rates for CDN/USD are what they were in the summertime I would suggest bringing USD. The rate of the USD is fixed to the QR at a rate of 3.65 but in exchange you will get around 3.64. You can exchange here in Qatar no problem and the rate in Qatar is only slightly better than the airport.
I'm almost positive that you can say to your bank, "I want x QAR" and they will get it for you - though they have to order it in (which takes a week or two).
Personally, I just take money straight out of the ATM when I get to any new country :) In Qatar, as long as it's not the Islamic Commercial Bank, your ATM card will work fine (QNB and AHLI BANK work 100%).
Well keep QR500/- when you get to Qatar and after that change Dollars to Riyals from Al-Fardan Exchange as its the Qatar's Leading Exchange House...Thanks :)
Cheers
its difficult to exchange for qatari riyals from oversea as Qatar is on still on the way in becoming develop country for tourist and business. But you will be able to withdraw cash using ATM cards with the common international service like Maestro and so on.
As for how much money u have to bring that very much depend on your purpose of visit. And of course mojority will accept in US currency.
u better bring USD,how much cash depends on how long you are going to stay in Qatar, average monthly expences including the accomodation for one bedroom around 5000 USD
yes you will be able to use them if your ATM has a Visa Electron Sign on it as i have done this a couple of times before
but your better off exchanging the money here in doha as you would get a better exchange rate
regards
If you can, try to get around QR500. You'll get a better exchange rate here as the margins are so small!