Currency Exchange in Canada

As the world gets smaller and smaller, more people have the need to exchange currency. Whether you need to convert currency for travel, trade, commercial purposes, hedging or simple speculation, there are a number of ways to do so.

Unfortunately, the most common avenue used by individuals to exchange currency is also the most expensive as the major banks offer very poor exchange rates. Most banks have large infrastructure, administration, and large overhead costs. They use their currency conversion service to subsidize other parts of the banks. They have many other lines of business and generally poor service. It may be difficult to find the conversion department or service person depending on the bank. However, Knightsbridge FX is focused only on this service, so we can provide the lowest rates. In general, large banks provide rates from 2% – 2.6% to convert currency. In contrast, Knightsbridge FX provides the lowest currency conversion rates on the market, ranging from 0.1% to 0.6%.

How to Get the Best Exchange Rate in Canada

To find the best rate to convert currency take several simple steps. First, write down all of the local banks and their phone numbers. Those include RBC, TD Bank, Scotia Bank, BMO, CIBC and others. Ask each bank how many US Dollars (or whatever currency you need) they will provide in exchange for $1,000 Canadian. The bank that will provide the most has the best rate. Then check out the Knightsbridge FX rate. We guarantee that our rate will be the lowest, and if not then we will match the lowest rate on the market. Our lowest rate guarantee has helped countless clients achieve favorable rate on their currency conversion, saving themselves both time and money.

About Canada

Canada has strong links to the US economy and a large demand to convert Canadian dollars to US dollars. We also have historic links to Europe, especially France and England. More recently, we’ve seen the growth of large Asian communities in Canada and have increasing links with that part of the world. As the links around the world grow stronger and stronger, there is an increasing need to convert currency on a frequent basis.

Canada is one of the largest countries on earth by land area but only has 35 million people. Canada was originally settled by travelers from England and France but has a large native population as well. The economy is driven primarily by natural resources including oil, agriculture, minerals, and potash. More recently, the economy has diversified into such industries as tourism, aerospace, finance, manufacturing, technology and media among others.

Canadians are frequently traveling to the US for fun and business. Currency conversion is critical to help make these trips go smoothly. Of course, Canadian companies do business with practically every country on earth and currency conversion is critical to these transactions.

Here are some of the locations throughout Canada where Knightsbridge FX offers currency exchange services:

When traveling (whether for business or vacation), you’ll want to make sure to be prepared financially. Make sure you have a currency converter handy (check out our online app), so you know the going exchange rate between currencies. Make sure your credit card company knows you’re traveling and have some cash on hand just in case and make sure you have people who can transfer money in case you find yourself in a tight jam. Overall safety will be different between countries so always make sure your personal products are in a secure place. This applies whether you’re in Toronto, Ottawa, Los Angeles, Mexico City, Singapore, Hong Kong, London, Moscow or wherever.

Knightsbridge FX not only provides currency exchange at low prices but also provides a growing body of free currency-related information.  This includes information on other banks, including Tangerine, RBC, TD, Scotia Bank and CIBC.  Covering subjects like cross-border banking, Canadian dollar forecast, opening a USD/dollar bank account in Canada, as well as exchange rates from banks like TD and RBC is your one-stop source for Canadian currency-related information.