If you are staying in Toronto for several months, you should consider opening a bank account. By opening a chequing account, you can write cheques to make your monthly homestay payments as well as other expenses. When you open an account, you will be given a bank card (also called a "debit" card) to make transactions. You can also perform telephone banking and on-line banking. Banking hours depend on each individual bank branch or office. Most banks are open Monday to Friday from 9:00 am to 5:00 pm, and only some banks are open on Saturdays. However, all automated teller machines (ATM's) are open 24 hours a day, 7 days a week. To open a bank account, you are required to present two forms of photo identification, for example, your passport and driver's license. Some well-known banks in Toronto include CIBC, TD, Bank of Montreal, Royal Bank, and Scotia Bank. You can usually find a bank on many major street corners or in any shopping mall. To exchange currency, you can go to the airport, foreign exchange centres or hotels. To see currency exchange rates, please visit Yahoo or XE.

Canadian Coins:

1 cent = "penny"  5 cents = "nickel"   10 cents = "dime"  

25 cents = "quarter"  1 dollar = "loonie"   2 dollars = "toonie"