Best Exchange Rate Toronto

Toronto has a lot of places that can exchange currency for you. This includes the Canadian banks, including BMO, RBC, CIBC, HSBC, National Bank, TD Bank, etc. There are also credit unions that can exchange currency for you.

However, often, the bank and credit union exchange rates are not the best available in the market. This is because the banks may have high fixed costs such as bank branches and have many structures in place that make it expensive to exchange and transfer money. Moreover, the banks also have a large share of the market as most customers will simply use their bank to exchange currency in Toronto. For this reason, they do not need to provide the best exchange rates in Toronto, there is no need to as they will win the business already.

To actually get the best exchange rate in Toronto, you will most likely need to use a non-bank currency exchange place, such as Knightsbridge Foreign Exchange. The reason for this is as follows: Currency exchange places focus exclusively on currency exchange, therefore, they need to provide better rates than the banks to win the business. They also transact in higher volumes and have access to institutions that provide good exchange rates. Simply, they provide a better exchange rate in Toronto than the banks.

Knightsbridge Foreign Exchange offers the best exchange rates in Toronto and you can get a no obligation quote at 1-877-355-5239. Simply call and get their rate and compare it to the banks in Toronto.

If you are based in Canada and need to send a wire transfer to the USA or Canada or Europe, Knightsbridge Foreign Exchange is a Canadian company based in Toronto and can help you do so for free. They exchange currency at better rates than the bank and can give you a free wire transfer if you exchange currency with them. Call 1-877-355-5239 for more information.

US Dollar and Canadian Dollar Exchange Rates