“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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LETHBRIDGE: Currency Exchange (Call 1-877-355-5239)
As a resident of Lethbridge Alberta, if you’re looking to buy a second home in another country then you’re going to need to know where you can get the best currency exchange rates in Lethbridge. Foreign exchange has proven to be a very significant expense on large international purchases, so it’s a good idea to have it figured out beforehand. Luckily for you, your primary bank is not the only option available. Bank FX markups are usually very unfavourable on most of their exchange rates, but you aren’t beholden to them. We at Knightsbridge Foreign Exchange aim to provide you with the absolute best rates possible on all popular currency denominations. Since we are a lean business, we keep our operating costs low; this allows us to keep our prices low in return. KnightsbridgeFX works around the clock to answer any of your money exchange inquiries. Just give us a call at the number displayed above, or feel free to send us an email!
For a lot of people, choosing the bank seems like the only real choice for reliable money exchange in Lethbridge. The fact of the matter is, for most individuals the bank is the option they’re most comfortable with. The ease and familiarity of it may draw them in, especially if it’s all they have heard about. Unfortunately for many unsuspecting customers, the banks understand this level of loyalty and count on it to be able to inflate their rates as much as realistically possible. Major financial institutions in Alberta all participate in this practice knowing people will still come to them to exchange currency. However, you don’t need to pay these crazy rates if you’re willing to use a third party FX provider that’s independent from the banks. You can use Knightsbridge Foreign Exchange to quickly obtain the best USD exchange rates in Lethbridge, or to book international money transfers overseas.
In regards to currency exchange in Lethbridge, you have a variety of options to explore and ultimately choose from. Since the Albertan city is well established commercially and physically expansive, you should have no shortage of different foreign exchange opportunities. Banks like CIBC, RBC, BMO, TD, and more are the most well known and used options, and usually have the most variety available to them. If you don’t like using the banks for whatever reason – most of our clients criticize their prices – you can instead choose from a variety of independent brokers. From large franchises like ICE that operate across the country, to smaller and lesser known companies; there is certainly a third party foreign exchange out there to suit your needs. Who you end up deciding on depends on who and what you’re comfortable with, and how important the need for lower rates is when weighed against convenience. If you want to find the absolute cheapest currency exchange rates in Lethbridge, we believe we have it here at Knightsbridge Foreign Exchange.
Lethbridge is located in the southern region of Alberta, finding itself only a 2-and-a-half hour drive from the U.S. border. While some individuals will decide to make the drive across the border, many would rather just catch a flight. For commercial passenger flights that go in other countries, the nearest international airport to Lethbridge is the Calgary International Airport. If you truly seek the most affordable currency exchange deals in Lethbridge, you should probably book any conversions before your flight takes off. The cost for businesses to operate in airports is absurdly high, and this rule applies to foreign exchange kiosks in airport terminals as well. This means that the exchange brokers in an airport pay much higher dues than the average foreign exchange you’d find elsewhere. These businesses charge unfavourable pricing just to be able to afford their massive airport debts. It should come as no surprise that airport FX charges some of the worst exchange rates imaginable. They know the last-minute nature of the airport and can usually draw in customers who have to get some cash in their pocket before they get on their flight. As a result, they’ll usually tag on some extra service charges on top of the inflated rate.
Aside from just using an online service and dedicated roadside retail locations, you can often find smaller currency exchange kiosks in public areas like shopping centres, regular tourist hubs, and hotels. An important thing to remember is that while their costs may not be quite as high as other retail stores (although this depends on their location) these kiosks still have to pay rent like any other commercial establishment. On top of that, the toll of needing physical cash can reflect in the rates you are offered, since you often pay a premium to obtain cash in-hand. This is generally due to the risk of holding illiquid funds assumed by the company. Since they cannot easily offload their cash inventory, especially if the bank is closed, physical cash will cost you a fair bit more. If you do elect to use a smaller independent broker, here’s an important tip to consider: make sure they request identification documents from you. Currency exchange companies are regulated by the government, and the first regulation you can see in action is the need for personal information. So, if the company you’re using doesn’t ask for I.D. you should know immediately that they are breaking the law. Financial service companies and especially foreign exchanges that do not verify your identity shouldn’t be trusted with your money.
Banks are often the most well known and used service when it comes to booking currency exchange in Lethbridge, but don’t confuse that with them being the best. With their non-competitive rates marked up to take advantage of the consumer, you will rarely (if ever) find the best currency deals in Lethbridge at the bank. Their mark-ups are usually around 2% over the mid market rate, but can sometimes reach as high as 3%. To put things into perspective, a rate mark-up of 3% on a $100,000 transaction will cost you $3000 out of pocket! Not to mention any service charges that follow alongside it, which banks are also notorious for.
Independent brokers who make their business off specializing in cost-efficient currency exchange need to find ways to have competitive rates to help bring in customers. Some of the ways they do this is by offering different deals for exchange large amounts of money, while maintaining a low overhead. Companies like Knightsbridge Foreign Exchange utilize a variable exchange rate that gets better based on the more you transact. In simple terms, the larger your order with us the higher your ability to save. At Knightsbridge FX, we deal in electronic funds, with no physical locations, which we use to give you the best currency exchange rate in Lethbridge.
At Knightsbridge Foreign Exchange, our customers save 1-2% on average on their exchange rates. On paper that seems small, but the more you exchange, the more you could stand to either lose or save. For instance, if you need to exchange $100,000 then exchanging with us (at a 2% difference) will save you $2000 easily. In addition to great savings on exchange rates, with KnightsbridgeFX you’ll never have to pay fixed service charges on large orders. We never charge for wire transfers – our electronic transfer methods are complimentary, you only pay the exchange rate quoted. If you’ve never had to exchange currency before, we strongly recommend giving your bank a call to see the difference in price points. Once you get a rate from them, come to us because we’re certain our rate will be lower than theirs. We are confident we have the most preferable currency exchange deals in Lethbridge.
By population Lethbridge is the third largest city in Alberta, and is the fourth largest by geographical scale. In part to it being close to the Rocky Mountains, it enjoys over 300 days of moderate sunshine every year, so the city features some of the best weather in the entire country. In the past, Lethbridge was established as a drift mining area for coal. Today Lethbridge is known primarily for agriculture and is considered by many to be the hub for commercial, financial, transportation and industrial business in southern Alberta.
Regular travellers know how important it is to have fair and competitive rates when exchanging their currencies. That’s why we offer the best USD exchange rates in Lethbridge and the most affordable foreign money exchange rates in Lethbridge. Let us show you first hand. Call 1-877-355-5239 to have one of our representatives talk you through our process so you can see how easy it is. If the phone isn’t your thing, then our online application form is quick and easy as well. You can be ready to get the best currency exchange rate in Lethbridge in just minutes.
To find other cities serviced by Knightsbridge please visit the Currency Exchange in Canada page.