Create a real-time currency exchange rate alert.

CAD to USD Conversion in Canada

Most Canadians convert Canadian dollars (CAD) to United States dollars (USD) at their own bank and never realize what that convenience costs. KnightsbridgeFX is a Canadian foreign exchange company that beats bank exchange rates on CAD to USD conversions, with no commissions and no hidden fees.

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We work for our customers

Your bank sets its exchange rate to protect its own margin on every conversion. We set rates to protect customers like you, with our Best Rate Guarantee.

KnightsbridgeFX was founded in Toronto in 2009 and 150,000+ customers have exchanged over $30 billion with us since. We’re a Canadian company working with Canadian banks on behalf of Canadian residents, and residency in Canada is required to open an account.

Get the best foreign exchange rates without commissions

Bank exchange rates carry a margin over the mid-market rate, often over 2.5%. On a $10,000 CAD conversion, that’s about $250 CAD lost to the bank’s margin. And you often don’t see those losses until after your transfer is finalized.

At KnightsbridgeFX, we charge no hidden commissions to send your funds. The rate we quote you is the rate you get, and we tell you the amount you’ll receive in advance.

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How to convert CAD to USD

We run bank to bank, with no cash or cheques. Most conversions settle on the same day or next business day, which is in line with typical wire transfer timeframes in Canada.

Simply open a free account and verify your identity, request a quote, then lock the rate and send CAD by EFT, bill payment, Interac e-Transfer, or wire. We’ll then send USD to the account of your choice. If you want U.S. dollars in hand, you’ll need to use a cash provider instead.

How do we get the bank's exchange rates down?

We buy large amounts of currency every month, convert money for thousands of Canadians every month, and pass on those volume savings to our customers. Our how it works page explains the mechanics in more detail.

The Big Five banks price the same conversion differently, and the spread between them is wider than most people realize. We compare them on which Canadian bank has the best exchange rate.

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Exchange rates change all the time

The CAD to USD exchange rate moves every business day, so a quote from last week tells you very little about how much you’d get today.

We don’t forecast the market and we won’t tell you when to buy. But we can alert you when a rate you named has arrived. Set a free currency exchange rate alert at the level you want and we email you when the market reaches it.

How to compare CAD to USD conversion costs

Fees, commissions, and margin present differently from provider to provider, and the total received is the only figure that collapses them into one. Banks often quote separate cash and non-cash rates, and the non-cash rate applies to a bank-to-bank transfer.

Comparing CAD to USD conversion costs with KnightsbridgeFX is fast and transparent. We check bank rates daily and beat the rate your financial institution quotes you. And opening an account is no-commitment and costs you nothing, so you can request a quote purely to compare.

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Save money

Our customers convert Canadian dollars for many reasons, whether that’s real estate south of the border, a move, family in the United States, or tuition. Those are large, often repeated amounts where a fraction of a percent compounds.

A 2.65% advantage on a 300,000 CAD property payment is almost 8,000 CAD. And even if you’re making smaller, more frequent transactions, those margins add up. A smarter exchange rate can save you hundreds, or up to thousands, depending on how much you transfer.

Start your CAD to USD conversion now

Speak to a real person in minutes.

A specialist will quote you a live rate on the call and walk you through your first conversion.

Call 1-877-355-5239

See what your conversion costs before you commit.

Open your free KnightsbridgeFX account and instantly compare our CAD to USD quote against your bank’s, with no obligation to book.

Frequently asked questions

The rate depends on the amount you’re converting. Larger amounts get better pricing, so a single posted number wouldn’t fit every customer’s situation. Our quote is also inclusive of fees, unlike an advertised rate with costs added later. Request one and you get the exact figure for your transaction.

Your money is very safe with KnightsbridgeFX. Client funds are held in a segregated account at a major Canadian financial institution, separate from operating accounts, and are completely secure.

We’re registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) money services business registry. We hold an A+ rating with the Better Business Bureau, and every transaction comes with a written trade confirmation.

The cost sits in the exchange rate rather than in separate hidden charges. Opening an account is free, and any quote you’re given is inclusive of fees, so the figure you compare against your bank’s is the figure you get.

Our typical transaction starts at $2,000, with some flexibility.

Transfers usually land the same day or the next business day once your Canadian dollars reach us. International money transfers to a U.S. account can add a day depending on the receiving bank.

We’re a bank-to-bank foreign currency exchange service, so we don’t buy or sell foreign cash, cheques, or bank drafts.

Only Canadian residents with a Canadian bank account can transfer money with us. We offer personal and corporate accounts, and both need verification before the first transaction.

Yes. The service runs in both directions on CAD/USD, and the same pricing and timelines apply.