“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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BRADFORD: Currency Exchange (1-877-355-5239)
Have you considered taking an extensive trip overseas to get away from Canada for a bit? Is it time for you to take that long-awaited vacation in Europe, Asia, South America, Africa, or Australia? In any case, whenever you’re trading your dollars for foreign cash, don’t assume that the bank is the only provider of currency exchange in Bradford. There are other options out there, and a small number of them may actually get you the best foreign money exchange rates in Bradford. Typically, when an FX provider claims to offer you great foreign exchange rates, check to see how close their quotes are to the mid market rate. The mid market rate is what you would find if you looked up a currency’s value online – it acts as sort of the starting point for trades, although most individuals at the retail level won’t receive the mid market rate without encountering a few service costs.
In simple terms, whichever foreign exchange provider in Bradford offers deals closest to the mid market rate is the optimal choice. Major financial institutions like banks actually charge expensive rates (contrary to popular belief) and are usually 2% to 3% above the mid market rate. On the other hand, you could easily find independent third party exchanges in the Gwillimbury region that grants FX customers the ability to save money on large transactions. One of those options is Knightsbridge Foreign Exchange, where you’ll get an easy and customer friendly process along with the most competitive currency exchange rates in Bradford.
Luckily for you, there are a bunch of different places where you could find providers of currency exchange in Bradford. Independent brokers, banks and exchange franchises are the main categories in which all of these options belong to, and each one presents its own inherent positive and negative qualities. These pros and cons are especially important for customers to consider when deciding on a place to exchange, because different services cater to different needs.
When you look at currency exchange in Bradford from a convenience point of view, bank FX doesn’t sound like a bad idea. If you want to still use your bank, you’ll be getting a familiar service, along with a high degree of safety and security, but unfortunately you’ll be missing out on the best foreign money exchange rates in Bradford. This statement actually works in either way – currency exchange is always a measure of cost versus convenience. If you’re aiming towards using an independent broker because you want to save as much money as possible on currency exchange, you’re inevitably sacrificing some comfort and time of day to do so. The important thing in that scenario is the cost, since you would be paying more at the bank. Our recommendation for a service that is both simple and affordable is Knightsbridge Foreign Exchange (KBFX). KBFX can transfer international funds directly to your Canadian-linked bank accounts with ease.
Is your driving initiative to get cheapest Canadian dollar conversion deals to USD or the best foreign money exchange rates in Bradford? If your answer is yes, and you truly value your personal savings, then it’s always recommended to exchange money before your flight. If you were planning on leaving your currency conversions to the last minute, you could be faced with harsh consequences. Most notably, the impact this decision could have on your wallet. The nearest international airport terminals to Bradford are located south in Mississauga at the Toronto Pearson International Airport, which is known for having extremely marked up costs.
Virtually all major airports have absurdly high costs to lease space for retail stores, and Pearson is no exception. Because of how these costs factor in to the company’s bottom line, airport brokers must increase their rates significantly to make up for that difference in order to remain profitable. This effectively means that you’re very unlikely to get the best currency exchange rates in Bradford at an airport exchange broker.
When you’re in town you can find public exchange kiosks for currency exchange in Bradford in locations like malls, tourist locations and hotels. As a general note, these services are most easily located in commonly visited places that have a lot of foot traffic. Seeing as these kiosks are typically walk-in physical locations, you should keep in mind you still won’t find the most affordable rates at these locations due to the overhead being increased. You will undoubtedly pay a premium to receive funds in physical cash, and on top of that these businesses need to cover expenses for inventory, building maintenance, and staffing.
If you would like to go towards an independent broker that advertises the best currency exchange rates in Bradford, make sure you do your research first. One thing you can check easily is whether or not a foreign exchange company requires identity verification. It’s a Canadian government regulation to check I.D. and if they don’t it’s an easy red flag to spot shady businesses. Another aspect of a business that you could check is to see if they are regulated by any governing financial boards. In Canada, KnightsbridgeFX is professionally regulated by FINTRAC, AMF, and the Better Business Bureau (BBB) so you know you’re in good hands.
The most frequently source for currency exchange in Bradford are the major Canadian banks and credit unions. The fact of the matter is, the “big five” banks in Canada own a very large percentage of the currency exchange market share. Despite how many people use them, even to this day they still aren’t the cheapest source for currency exchange in Bradford. The rate you get at the bank isn’t the base rate you’d see featured on the news (the mid market rate).
As we have previously mentioned, banks mark-up their exchange rates by as much as 3%. Banks don’t have to really compete with other providers as they make most of their money from other revenue streams and maintain a very high degree of customer loyalty. This allows them to get away with not offering the best currency exchange rates in Bradford while continuing to make money from their foreign exchange service.
Exchange brokers offer a variety of different deals that they use to try and get a bigger percentage of the market for currency exchange in Bradford. Two examples of this are: lowering your rate if you exchange in greater amounts and allowing customers to pay for their exchanges on a delay or through an instalment plan. These are a couple clever ways to entice customers without directly offering the best deals, but some companies believe that clients should get the best of both worlds. At Knightsbridge Foreign Exchange, we’ve streamlined a business model that is online transaction based and very cost-efficient.
This gives us the freedom to choose not to have any physical stores, which in turn grants you the convenience of choosing where and how you want to pick up your funds. Since our company overhead expenses are so much lower than our competition, we are able to pass on our savings on to you in the form of Bradford’s most competitive foreign exchange prices.
The reason we’re so confident in saying that we have the best foreign money exchange rates in Bradford is because we know that our customers save an average of 1-2% per exchange over the leading banks. This statement also applies to every other provider of currency exchange in Bradford. That means that if you had to exchange $100,000, you’d keep $2,000 if you used KnightsbridgeFX instead of another provider – it is really that simple. There are huge savings to be made by getting a lower exchange rate, and you can see it first-hand by calling us and then your bank for a rate on the same currency. We highly advocate that you do your own research and ask around Bradford for the best retail quotes – you will see that the road leads to KnightsbridgeFX. Doing so is the easiest way to confirm that our currency exchange deals are indeed the best.
Bradford, Ontario (not to be confused with Brantford, Ontario) is a municipality found north of the Greater Toronto Area in the Simcoe County. Bradford is bordered on the east side by the Holland River, which got its name from Samuel Holland who was the first Surveyor General of British North America. Bradford is the primary name for the urban area/municipality of the town of West Gwillimbury. The town hosts a population size of 40,000 which is relatively modest for southern Ontario sizes.
You can imagine that for anyone who exchanges regularly, a reliable and affordable provider would mean the world. That’s what Knightsbridge Foreign Exchange is here for. Our team is eager to show you what our process is all about and calling us at 1-877-355-5239 will get you a free no-obligation quote. We’ll take you through each step to show you how simple and convenient Knightsbridge FX really is. You can also fill out our online application, it only takes a few minutes to complete and be ready to exchange!
To find other cities serviced by Knightsbridge please visit the Currency Exchange in Canada page.