Barrie Currency Exchange.

Always be asking yourself, what is my main priority on Barrie currency exchange? If you plan on booking large transactions and want to be able to save hundreds of dollars, make sure you get your exchange done before you go to the airport.

Toronto Pearson International Airport, the nearest airport to Barrie, has extremely high rent fees like all other major airports and that means that airport exchange brokers have significantly increased expenses to make up for. In order to cover their costs whilst profiting, they markup their rates even more than online-only exchange providers do, meaning that you’re unlikely to find the best USD exchange rates in Barrie an airport booth or kiosk. Even though airports are notorious for poor rate offerings, many individuals still use them because they appear as the “last minute” option to convert. Their consumer base is made up mostly of last-minute shoppers, or those who just want the convenience of doing their exchange at the airport.

When travelling around the city, you might occasionally run into an alternate method of currency exchange in Barrie in the form of a public exchange kiosk. Typically, these are found in tourist areas in downtown Barrie, or even near the lakeshore. Alternatively, you could find these booths in a shopping mall, high-traffic tourist area, hotel or another area you’ll find lots of people. These kiosks don’t usually have quite the overhead that a full retail store has, but they do still have tons of costs that come with being a brick-and-mortar establishment.

Thus, they probably still have to markup their rates a fair bit above the average and are unlikely to have the best USD exchange rates in Barrie or even be competitive at all. If you’re unsure of which independent brokerage firm to go with in Barrie, do some research on the company first. If they claim to offer the best currency exchange rates in Barrie, make sure you look into them further to make sure it’s a legitimate operation. For example, make sure they require personal identification and that your information is safe and secure. It also pays off to check a firm’s Google reviews to see what others are saying about it. Another great way to tell if a company is reputable or not is by determining its regulatory status. KnightsbridgeFx is registered with FINTRAC, under the MSB registration number M09819788.

Banks are the most frequently used provider of currency exchange in Barrie, although truthfully it has a lot to do with public misinformation. The reality is, many individuals simply do not realize there are better deals out there. Just because you see a ton of bank branches in downtown Barrie does not mean that banks are the most ideal way to exchange your dollars.

What some people may not realize is you don’t get anywhere near a currency’s base rate at a major Barrie bank, you’re much better off choosing a digital-only FX service provider. Some Canadian banks are even known to charge a rate that has about a 3% markup on popular currencies, which is a very high cost when you’re transacting thousands of dollars. So, while the bank may be nice and convenient to most people, if you want the best USD exchange rates in Barrie or the best foreign money exchange rates in Barrie, you’ll want to look elsewhere.

Online-based currency conversion brokers are always looking to get more of the foreign exchange consumer base in Barrie. Some of those include offering lower exchange rates if you plan to exchange more (variable scaling) and allowing delayed or installed payment plans. At Knightsbridge Foreign Exchange, we’ve put our primary focus on offering our customers the best USD exchange rates and the best foreign money rates in Barrie.

We’re able to do this because we’ve created the business with the plan of having a low overhead cost. KnightsbridgeFX effectively has no physical retail stores or brick and mortar establishments for customers; the KBFX platform exclusively deals in electronic money. This allows us to pass the great savings down to you by providing the best currency exchange rates in Barrie, simply from having less operational costs to make up for. The best part is that KnightsbridgeFX works with your bank, not against it – you can have money sent to one of your registered bank accounts with ease.