Which Canadian Bank Has The Best Exchange Rate?

When you are living in Canada or traveling to Canada, you need to know how to exchange foreign currencies for the best rates. You might need to exchange your Canadian currency before traveling abroad, and you should find the location that offers the best service. Each of the options below will help you exchange your money, and you can research their exchange rates, locations, or customer service.

The Bank of Montreal

The Bank of Montreal has branches throughout Canada that will help you exchange your Canadian or foreign currency. You can get in line at the bank whether you have an account with them or not. Plus, you can get much faster service if you already have an account. Offer your currency to the teller, ask the teller for a certain number of bills or coins, and check their exchange rates before you go to the bank.

Because exchange rates change all the time, you need to check the rates just before you go to the bank. If you do not like the rates that BMO offers, you can go to another location. Plus, you should compare the rate you have found online to the rate you are offered in the bank. If you are not informed, you might not get the current rate.

You may need to find a bank that is close to your office because you are taking a taxi to the airport. You might find a BMO branch that is on the way to the airport, or you might go to the BMO branch near your home before you go to work the morning of your trip. The bank is convenient and easy to find no matter how tight your schedule is.

The Royal Bank of Canada

The Royal Bank of Canada has numerous locations around the country, and you might visit RBC if they are your bank of choice. Some people need to go inside an RBC branch because that is their only option, and you should check their exchange rates online before going.

You can meet with a bank teller or bank manager who will exchange your cash, and they will provide you with a receipt that shows the exchange rate you got. Plus, you can request specific bills or coins when available. Remember that some foreign currencies are not in demand. You may not be able to get the specific bills or coins you want. However, you can get any Canadian bill or coin that you require at any time.

CIBC (Canadian Imperial Bank of Commerce?

CIBC has branches all over Winnipeg and Canada, and they provide an exchange service in every branch. you may need to stand in line if you do not have an account, or you can ask for a manager/financial consultant if you are an account holder. The bank will verify your account with your debit card, and they will complete the exchange process using their most current rates.

You can check their exchange rates online to make sure that the branch gives you the right rates, and you will receive an envelope that helps you carry your money around. Most people who go to the bank are leaving for a trip or just returning. You might even ask the bank for a special satchel that will help you carry your cash and coins.


ScotiaBank is a popular bank in Canada that also sponsors the arena where the Toronto Raptors play. They have branches all over the country, and you can go into a branch at any time to exchange your currency. Remember that the bank has its exchange rates posted online. You need to compare their exchange rates with the rates of other banks on this list. When you find the best rates, you can go to the bank that you think is best.

You might go into a ScotiaBank branch with foreign coins that need to be converted back to Canadian currency. Plus, you should ask the teller if they have the bills that you need. Some people have specific needs that can only be met when they are working with the right bank. By contacting ScotiaBank ahead of time, you can even set up an appointment for your exchange so that you are not awkwardly standing in line with your money.

Airport exchange windows/offices

Airports have exchange windows and offices that allow you to exchange your money if you are in a hurry. These offices post their rates at the window, and you can exchange Canadian money for foreign money on the spot. Plus, you can exchange your foreign cash for Canadian cash.

The airport office is the best place to go if you do not have much time to spare. Plus, the airport office might be the only place you can go if you do not want to walk through customs to exchange your cash.

If you did not have time to go to the bank before you reached the airport, you can exchange your money at the airport. Plus, you might need Canadian money for food and drinks at the airport. You can take care of this problem at the exchange office, and you can enjoy your time in the airport.


KnightsBridgeFX offers the best exchange rates for foreign currencies, and they do better than the banks. You can exchange money before your next trip, or you can bring foreign currency home that you will exchange with KnightsBridge. You do not want to lose money because you traveled to a foreign country, and you should check the exchange rates online before visiting the office.

This is the easiest way to organize your finances before a long trip. You should exchange your money with the company that can give you a favorable rate because you do not want to lose your money due to a simple exchange. Find the KnightsBridgeFX office so that you can stop by before leaving on your trip. As always, you can check the amazing exchange rates before you come in.