“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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Whether you’re visiting Guelph or you’re a long-time resident, the community provides a range of services on par with most major cities. To exchange foreign currency, there’s no need to drive into Toronto. Both banks and dedicated exchange bureaus offer complete services right in town. However, before driving straight to a nearby branch of your local bank, it may be worth learning a bit more about foreign currency exchange.
In increasing numbers, bank patrons are discovering that their own banks charge unreasonable rates for basic services. From maintenance fees on savings accounts to simple banking services, the news would surprise few seasoned individuals. However, when it comes to currency exchange, many individuals go to their bank without giving it a second thought. It is true that some unscrupulous exchange desks at airport terminals charge outrageous exchange rates and rip off unsuspecting travelers. From our experience, many banks do precisely the same thing.
Guelph may not be a large city by most regards, however there are still some Guelph currency exchange services with many being cash exchange services. Guelph money exchange companies also include the big Canadian banks and other independent currency brokers. A rule of thumb to follow is that banks generally charge the most for their exchange rates while independent specialized brokers can provide the cheapest way to exchange Canadian to US dollars as well as other currencies. At the end of the day, it is most important to choose a provider that fits your needs well and leaves you at ease during the transaction. That is why it is essential to perform your own research and due diligence to see which providers will work best for you. Some things to consider include timeline of transaction, ease of use, level of service, online reviews and reputation, and consumer experiences. These things can be found in online forums such as www.redflagdeals.com, Google reviews, and obviously calling in to ask some questions is always an option.
The cheapest US exchange rate, Euro exchange rate, and other exchange rates will not be found at airports. For retailers, airports are prime real estate to capture business from travellers arriving and departing. As you can probably guess, this means that securing a location in an airport is very difficult and expensive. This also means that foreign exchange in Guelph airports will be quite costly as the high rents are passed on to the consumer. In the case that there are no other options, ICE Currency services is available at Guelph’s airports for your convenience.
Most hotels and hotel chains have customer convenience in mind and this includes currency exchange services or recommendations. The concierge or receptionist more often than not is aware of local currency exchange providers that can help meet your needs. Some of the larger chains such as Best Western have in-house currency exchange services. Another hotel in Guelph that provides in-house currency exchange services is Days Inn. For other options be sure to do a quick Google search to find out which hotels in Guelph offer currency exchange services.
Most commonly found in popular public destinations and tourist areas, kiosks can be a convenient option for currency exchange. This includes companies such as ICE currency exchange, continental currency exchange, and the kiosks often seen in malls. Often, the rates they provide will not be the lowest as cash transactions often come with higher fees. However, they can be a convenient option if you find yourself short on time.
All the major banks in Canada provide currency exchange services, but that is probably pretty obvious. What isn’t obvious is the large fees they charge. Most customers do not bother to question the rates provided by the banks, or simply are unaware of other options. As a result, banks are able to charge 2-3% over the market rate which results in lost potential savings for you. If this is not an issue for you or you are hesitant to trust another provider, then perhaps the best option is the banks. However, if you are looking to save money, this should be your last option.
Instead of the options mentioned above, there are other currency exchange brokers that are more specialized and designed to deliver lower costs. Many of these brokers have their own pros and cons. For example, some specialize in a few currencies and focus on providing, for example, the best exchange rate Canada to US. Others specialize by offering lowest costs through relatively larger amount transactions and have no retail locations such as Knightsbridge FX. Be sure to look around and perform research to discover which provider is best for you.
Taking your business to a qualified foreign currency exchange can save you tens or hundreds of dollars. At Knightsbridge Foreign Exchange, we focus exclusively on providing individuals and businesses with foreign currency exchange services at a fair price. In fact, our rates regularly beat the fees that you’ll pay at your own bank. Compared with the average Canada bank, our rates can save you big dollars. If you’re considering one of the major banks for currency exchange, such as RBC or ScotiaBank, we’ll typically save you up to 2.5%. Especially for larger exchanges, those percentages can add up to real dollars and cents.
Currency exchange is a straightforward service, not something that should come with high fees. However, many major banks use the service as a means of making a little extra money, helping them cover high overhead costs. If you’re already in the lobby of your own bank, it may seem easiest to just exchange your money there. However, banks count on their exchange customers to do just that. Instead, we suggest you shop around. Call up your bank and ask for their rates – then give us a shot at your business. We’re confident it will be worth your time.
Also known as “The Royal City”, Guelph is a Canadian city located in southwestern Ontario. Just about 100 km (62 mi) west of central Toronto, Guelph is a vibrant part of the greater Toronto region. With low crime rates and notable natural beauty, the community regularly wins awards as one of Canada’s most desirable places to live. The economy in Guelph is relatively diverse, including manufacturing, education and accounting sectors. Throughout the broader economic recession, beginning in 2008, Guelph was regularly singled out for its unusually high employment rates and relatively unscathed economic picture. While in Guelph, it is possible to bank at branches from any of Canada’s major banks, including ScotiaBank, RBC Royal Bank and others.
We invite you to give us a call any time at 1-877-355-5239 for currency exchange quote with no obligation whatsoever. You’ll learn from one of our representatives how quickly and easily you can proceed. If you prefer, you can also submit the form below and we’ll get you all of the information that you need to get the best rates on currency exchange in Guelph.
To find other cities serviced by Knightsbridge please visit the Currency Exchange in Canada page.