Canadian Tire Bank Exchange Rates – Foreign Exchange Rates

Call us at 1-877-355-5239 and we’ll offer you better exchange rates than any Canadian bank. You’ll hear live rates for buying and selling foreign currencies, including USD. Every morning, we call banks in Canada to make sure that our conversion rates are better.

Canadian Tire Bank Exchange Rates

Bank Exchange Rates Markup % Source Potential Savings when buying $10,000
RBC – Royal Bank of Canada 2.60% RBC Exchange Rates $230
TD – Toronto Dominion Bank 2.64% TD Bank Exchange Rates $234
BMO – Bank of Montreal 2.65% BMO Exchange Rates $235
Canadian Tire – Canadian Tire Bank      
Tangerine – Tangerine Bank 3.80% Tangerine Bank Exchange Rates $340
Scotia – Scotia Bank 2.88% Scotia Bank Foreign Exchange Rates $258
Alterna – Alterna Bank 4.90% Alterna Bank Foreign Exchange $445
KnightsbridgeFX 0.80% Knightsbridge Foreign Exchange  

Date updated: January 31, 2020

Every time you exchange money or make a purchase that isn’t in Canadian dollars (CAD), banks like Canadian Tire Bank charge you a fee to convert your money. All banks in Canada offer a currency exchange service that lets you convert currencies.

How much is a typical foreign exchange fee?

Well, it’s usually 2.5% plus a small spread that banks have to pay on rent, customer service experts, marketing, and so on. This markup (which is almost always hidden within the conversion rate) is passed on to you, the customer. So the total cost should come in close to 3%. 

Well, it’s usually 2.5% plus a small spread that banks have to pay on rent, customer service experts, marketing, and so on. This markup (which is almost always hidden within the conversion rate) is passed on to you, the customer. So the total cost should come in close to 3%. 

Given that most banks charge this fee, it may surprise you that online foreign exchange providers like KnightsbridgeFX take a lesser margin, which means that they offer a better exchange rate than banks.

Canadian Tire Bank doesn’t publish its conversion rates on their website. You can call us at 1-877-355-5239 to find out and compare rates.

Compare Canadian Tire Bank Exchange Rates with Other Banks

When you’re on the market for a foreign exchange provider, you should keep in mind that you have many options besides Canadian Tire Bank. The wise thing to do is to compare Canadian Tire Bank’s exchange rate with the rates offered by other banks in Canada. On top of that, you should compare Canadian Tire Bank’s foreign conversion rates with Knightsbridge Foreign Exchange ones by giving us a call at 1-877-355-5239 and listening to the live exchange rates.

Shopping around and making sure that you get the best rate is a smart decision, especially if you’re about to make a currency transaction for a large amount of money. You should consider that banks like Canadian Tire Bank offer worse conversion rates on larger amounts. Knightsbridge Foreign Exchange undercuts bank exchange rates – we do that by managing transactions for significantly lower margins. We’re beating bank rates by 1-2%, helping Canadians do online currency exchange for a fraction of the cost compared to the banks. Call us at 1-877-355-5239 for a comparison quote!

If you want to find out the margin, carefully analyze the rates below, the Canadian Tire Bank rates as well as the conversion rates offered by other banks.

Canadian Tire Bank Services

In addition to the foreign currency conversion, Canadian Tire Bank offers many other financial services such as high-interest savings accounts and Guaranteed Investment Certificates. If you want to learn more about the products provided by Canadian Tire Bank, you can visit their website.

Exchange Rates from Other Financial Institutions

RBC Exchange Rates Overview

TD Exchange Rates Overview

BMO Exchange Rates Overview

Alterna Bank Exchange Rates Overview

Scotiabank Exchange Rates Overview

Tangerine Bank Exchange Rates Overview

National Bank Exchange Rates Overview