Where Can I Exchange American Money for Canadian Money?

Money exchanges are readily found in airports and in major cities that attract tourists. However, you may want to weigh your options before choosing where to go because rates can vary. Here are a few to consider.

Airports

We will look at what two top airports in Canada have to offer to meet your currency exchange needs. Finding the exact locations where you can exchange your American money for Canadian money can be as easy as pulling it up on the the airports’ websites and asking airport workers to point you in the right direction.

Vancouver International Airport (YVR) has 10 Ice currency exchange counters and RBC Royal Bank as another option. You can always check the rates on the Ice Exchange website before making a decision.

Toronto Pearson International Airport (YYZ) has 18 Ice Currency exchange locations and five CIBC Banking Centres where you can exchange American money for Canadian money.

Remember to read the posted exchange rates because you often find the best rates at banks.

The Royal Bank of Canada (RBC)

RBC offers accounts, investing, and insurance for your deposits. RBC has over 1,200 branches in Canada. As one of the largest banks in Canada, you are likely to find a branch near you.

The Canadian Imperial Bank of Commerce (CIBC)

CIBC Banking Centres offer accounts, e-transfers, and billpay as well as currency exchange. They also have over 1,200 branches across Canada, so search for the one nearest to your location.

Scotiabank

Scotiabank hosts locations in over 40 countries throughout Europe, the Middle East, Asia, the Caribbean, North America, Central America, and South America. So, you can exchange your American money for Canadian money before you travel and possibly arrange for emergency banking while still abroad.

The Bank of Montreal (BMO)

The Bank of Montreal is another option. With over 600 branches, it is the fourth largest bank in Canada, so you may be able to find a location near you. BMO specializes in investment banking and offers all the traditional services you’d expect from a multinational entity like currency exchange.

HSBC Bank Canada

Though HSBC is one of the largest banking conglomerates in the world, it is still making it’s way into the markets of Canada. It boasts over 50 branches in British Columbia and Ontario. It has grown to 20 in Alberta and 13 branches in Quebec, but it may be difficult to locate in smaller cities and provinces. HSBC has currency exchange services.

Smaller airports and banks do not give travellers a lot of options. However, the two major airports and the banks you see here can accommodate your needs to exchange American Money for Canadian money.