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Yes, it should work.
so if u bought a card that is 20$ (americcan) and u use it on a account that is set to Canadian, then it wouls be converted through the current exchange rate.
From what I know, Game Stop (EB Games In Canada) has been charging 10% for the US Steam Wallet Cards. So you'll pay 22 Canadian for the 20 USD card. 55 for the 50.
This caused a bit of a stir and outrage a while back.
It might have changed, cause the last time I bothered reading about it was at least a few months ago.
@JayZ what ever the card is will be converted to yr steam account currency
Well, not in the US. Gift cards are tax free, because you pay any applicable taxes upon use of the gift card. If you paid taxes when purchasing the card, you would effectively be double taxed, paying the same tax twice, for the same purchase, which is usually frowned upon.
And from what I had read in the complaints, it was the same in Canada, and the 10% charge was a relatively recent thing... At the time it first started appearing in the complaints, it was roughly when the US economy first started recovering, and the 1 USD = 1.10 Canadian after being nearly identical for a period of time, and the additional 10% being charged for the gift cards at EB Games seemed a bit too coincidental.
I read the same thing in the few topics that kept popping up. That the 10% was something new and unwanted by the customers. Causing outrage from them.