ST. IGNACE, Mich. (Michigan News Source) – The Mackinac Bridge will no longer accept Canadian currency for tolls, beginning October 1.
“As Mackinac Bridge is not an international bridge, and we cannot offer an attractive exchange rate to customers, the Authority has decided to stop accepting Canadian currency,” said Mackinac Bridge Director Kim Nowack. “We’re certainly not looking to inconvenience our customers, but we’re one of very few businesses or agencies in Michigan that accepts Canadian cash.”
MORE NEWS: Train Crash Kills One in Kalamazoo
MBA policy states that after accepting Canadian currency, exchange rates must be sought from two different banks. Once a rate has been accepted, wire transfer fees must be paid and an armored vehicle used to transport the cash. These high costs have resulted in an exchange rate of $8 CAD for the $4 USD currency toll, although this USD amount should be equivalent to about $5 CAD.
The MBA cites these high administrative costs alongside limited customer use of Canadian currency as primary reasons for its decision.
“We do have a lot of Canadian customers who currently use credit or debit cards to pay the toll,” Nowack said. “Those customers get a better exchange rate through their credit card company than we can offer them. In fact, when they learn that the toll will be double when paying with cash, many of them choose to pay by card instead.”
As of 2:25 PM UTC on July 27, the exchange rate from Canadian to U.S. dollars is $1 USD = $1.32 CAD.
Leave a Comment
COMMENTS POLICY: We have no tolerance for messages of violence, racism, vulgarity, obscenity or other such discourteous behavior. Thank you for contributing to a respectful and useful online dialogue.