Mackinac Bridge to discontinue acceptance of Canadian cash for tolls Oct. 1 ST. IGNACE, Mich. - Due to relatively limited use by customers, combined with administrative costs associated with currency exchange, the Mackinac Bridge Authority (MBA) will no longer accept Canadian cash for tolls as of Oct. 1, 2023.
“As the 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.”
When the MBA receives Canadian currency for tolls, following MBA Board policy, it first seeks two exchange rates from two different banks. After selecting a bank based on those rates, the MBA then must pay for an armored vehicle to transport the cash and pay wire fees for the amount exchanged.
Because of those handling costs, and exchange fluctuations, the MBA currently charges $8 Canadian for the $4 U.S. currency toll. The MBA typically receives about $4,000 each month in Canadian cash.
“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.” |
Mackinac Bridge to discontinue acceptance of Canadian cash
