Exchanging with KnightsbridgeFX vs. your bank could save you CAD$ 0
“I saved a huge amount…about $3,000 over the bank quoted for U.S. dollars…everything went as smooth as a dream”
Florida Property Buyer interviewed by the Toronto Star
“You can save hundreds, if not thousands of dollars”
Calgary-based financial planner who specializes in cross-border financial issues.
“KnightsbridgeFX is an online currency exchange company that seeks to undercut foreign exchange rates offered by larger financial institutions”
columnist, for the Globe and Mail
“KnightsbridgeFX is “the costco’s of foreign exchange”
Financial Advisor quoted in the Globe and Mail
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Think of Knightsbridge Foreign Exchange when looking to buy or sell large amounts of US dollars in Oshawa. Unlike the banks, KBFX offers customers with highly competitive exchange rates with no hidden fees. Taking your foreign currency service needs to the banks could be costing you much more than you think. With incredibly high overhead costs, banks inflate their rates in order to be profit generating. Due to a large number of loyal customers, the banks do not need to compete and therefore their rates remain unfavorable.
At Knightsbridge Foreign Exchange we do things differently. It is our mission to ensure our customers are saving as much money as possible on their currency exchange transactions. We value each and every one of our customers and continue to fight for their business by offering the most competitive US dollar exchange rates in Oshawa.
Oshawa, Ontario has a number of different options for international foreign currency exchanges ranging from a number of banks to credit unions, hotels, and cash exchange retail services. Let’s take a look at some these different options.
If you’re looking for foreign money exchange in Oshawa, the Oshawa Centre is a primary option. The Oshawa Centre which is the largest commercial retail hub in the Durham region and is located at 419 King Street West provides a competitive money exchange service for Oshawa residents. Located inside is a continental currency exchange branch that offers competitive rates on a number of different currencies. With most retail cash operations, their rates may not be as competitive as more specialized currency exchange brokers. This is a good option though if you’re looking for cash denominations in smaller volumes, but on larger transactions, there are other options that can provide better rates.
The Oshawa Centre also houses a number of different big five bank branches including the Bank of Montreal. Banks are largely popular options for currency exchange but generally their rates are not as competitive unless you are subscribed to their premium services which would allow you to get preferential rates.
Currency exchange service is becoming more and more of an expected service for most hotels that are generally 3 stars and up. Within the Durham region, Oshawa has a number of hotels to choose from that provide an in-house foreign currency exchange service. Amongst the list of hotels are the popular Quality Inn Hotel and Conference Centre, the Travelodge Oshawa Hotel, the Best Western Plus Durham Hotel 7 Conference Centre, the La Quinta Inn & Suites Oshawa, the Comfort Inn, and the Holiday Inn Express & Suites Oshawa. Hotels similar to airports generally have amongst the worst money exchange rates amongst currency exchange providers. While they are convenient if you’re staying at a hotel, avoid exchanging at your hotel unless it is your only option or if the exchange rate is irrelevant to you.
The downtown commercial and retail core of Oshawa comprises of King Street and Simcoe Street as well as nearby adjacent areas. There are a number of financial institution, banks, and cash service operations that provide cash money exchange services in this area. The Big Five Banks of Canada have several branches right at the King and Simcoe intersection including the Royal Bank of Canada, TD Canada Trust, and the Canadian Imperial Bank of Commerce. Scotia Bank also has a branch located a block west at King and Queen Street. If you’re a Bank of Montreal customer, you won’t be left out since there’s a branch located inside the Oshawa Centre which is a couple of blocks down King Street West.
If you conduct most of your banking and financial services with credit unions, there’s also a few located along King Street as well. There’s a Meridian Credit Union that is located further east along King Street just at the at the King-Townline Road intersection. The Oshawa Community Credit Union is located at King Street East and Ray Street and is a popular banking choice for many Oshawa residents. There’s also a Auto Workers Community Credit Union that is close by which may provide preferential rates to the large number of auto workers in the Durham region. If you’re looking for other choices along King Street, there’s a Ukrainian Credit Union Limited branch and a Credit Union Central of Ontario located in the King Street West and Park Road area. Generally, Credit Unions tend to have the worse rates for foreign currency exchange amongst financial institutions, their rates are not competitive at all and should be at the bottom of your list of places to go for exchanging money.
There are a number of banks with branches located in Oshawa including the Big Five Banks of Canada which have a number of branches located throughout the city. The Big Five include TD Canada Trust, RBC, CIBC, Scotia Bank, and BMO. Other banks in the city include National Bank, HSBC, and Desjardins. While the rates at the banks aren’t the best, they are typically better than the rates at credit unions, and other retail cash services. Generally, some banks offer their premium customers preferential exchange rates when they subscribed to certain monthly services, so call your bank to see what they can offer you especially if you regularly exchange foreign currency.
The best brokers for currency exchange may not have physical locations in Oshawa. The best currency exchange brokers tend to operate their service remotely and or online, everything is done electronically and converted funds are sent straight to your bank accounts. The lack of physical location means that they have less overhead costs and can therefore pass on their savings to their customers, which in this case means the best exchange rates. These services are becoming more and more common as more services are moving their operations online. So if you’re looking to use one of these, do your research, ensure that they are a legitimate and reputable company that is regulated by the Canadian Federal Government and FINTRAC. They could save you anywhere from 2-3% on your exchange rates, on large amounts, this could save you hundreds and thousands of dollars.
Getting the best exchange rates in Oshawa encompasses shopping around and comparing rates. Convenience will always be a factor, so depending on where you’re located in Oshawa, your nearby bank, credit union, and cash exchange retail store are adequate options if you’re exchanging a small and are looking for physical cash. The rates at these locations aren’t the best but on small amounts you might be losing out on a couple of dollars and anywhere from $20-$30 on exchanges at $1000. On higher volume transaction, your bank may give you better rates than other options but the cheapest way to buy or sell US dollars is to consult a specialized Canadian currency exchange provider that may be based online. Their rates will tend to be much better than your local options.
Wondering how we are so certain about having the most competitive rates in Oshawa? Well it’s simple. We contact the leading banks and financial institutions on a daily basis to find out their rates. We then price our rates accordingly. At Knightsbridge Foreign Exchange we guarantee our customers a better than bank rate. On average our rates are 1-2% better than the banks and leading competitors. That means huge savings for you, especially on larger transactions.
Our services are regulated by FINTRAC, a government body in charge of financial regulation in Canada. We have also been featured on various media networks such as: The Globe and Mail, Toronto Star, Wall Street Journal and Reuters News just to name a few. With various testimonials and happy customers you can rest assured that our services are trustworthy, honest and efficient.
Call us and get started right away. We offer free exchange rate quotes with no obligation to transact.
Located on the Lake Ontario shoreline, Oshawa is found in Southern Ontario roughly 60 kilometres east of downtown Toronto. Self-proclaimed as the “Automotive Capital of Canada”, Oshawa is home to the Canadian division of General Motors Company Headquarters and its associated major assembly plants. However, this was not always the case as Oshawa began as a transfer point for the fur trade before becoming a village and eventual home to General Motors, formerly, McLaughlin Carriage Company. Evidently, Robert Samuel Mclaughlin was a major driving force in the development of Oshawa and with his accumulated wealth built a world admired estate named the Parkwood Estate featured in many films including Chicago and X-Men.
Beyond its strong heritage in auto motives, Oshawa has a strong sports community. It is home to the Oshawa Generals of the Ontario Hockey League which has produced NHL stars such as Bobby Orr and John Tavares. The city is also home to the Oshawa Power of the National Basketball League of Canada and other professional teams in Lacrosse and Rugby.
Oshawa is located on Lake Ontario’s shores, about 60 km east of Toronto. It’s the largest municipality in the Durham Region.
Around 1760, the French built a commercial post close to where now is the Oshawa harbor. Even though it was abandoned after a few years, it was used as shelter by the first inhabitants of what Oshawa is today. In the 18th century, a local started a small salmon marine export business. Its success has attracted additional migratory flows in the region. The first ones to arrive were the British, then the Irish and finally the French Canadians. After that, the industrialization has begun and the area experienced a flourishing growth. In 1924, Oshawa has finally received the status of a city.
Oshawa lies on Lake Ontario’s beautiful shoreline. Its climate is humid continental, similar to all of the province’s southern areas. While the seasonal temperature differences are pretty vast, they’re never extreme.
The automotive industry and particularly the Canadian division of General Motors, has always been at the forefront of the city’s economy. Other key sectors are manufacturing of rubber products, railway maintenance equipment, steel fabrication, and mining equipment.
The city has a complex and well-established car and rail network linking Oshawa to other large cities in Canada. Moreover, the Oshawa Harbor is an important connection between the city and the rest of the world, both from a tourist and economic perspective, through maritime import and export.
The city has a plethora of green spaces crossed by stretches of paved paths. This way, you have the chance to be active, environmentally-friendly, and explore world-famous parks and natural treasures.
Oshawa’s dining scene is very diverse and appealing. You can choose from countless restaurants, diners, and fast food joints that serve Canadian, American, Mexican, Thai, Japanese, Italian, Greek, and many other cuisines.
With a variety of indoor and outdoor facilities including arenas, leisure venues, playing fields, beaches, trails, playgrounds and swimming pools, Oshawa offers entertainment for all ages. For those of you who love culture, musical performances, theater shows, art exhibitions, museums, and other related events, Oshawa is the ideal place as there is always something exciting taking place.
To find other cities serviced by Knightsbridge please visit the Currency Exchange in Canada page.