QUEBEC CITY: Currency Exchange (Call 1-877-355-5239)
If you’re seeking to exchange currency in the beautiful Quebec City, there are many options you could choose from like Servus Credit Union. Due to the city’s year-round high volume of tourists, you should have no problem finding different retail vendors scattered around the city center and other places of interest. However, when you’re transacting large amounts of money, it is imperative that you find the most competitive exchange rates so you save money. The natural instinct for most individuals is to fulfill all of their currency conversion needs at a bank. Although this might be the first choice that immediately comes to mind, we aim to provide you with even better alternatives that have the most competitive FX rates in Quebec City.
If you are looking to buy or sell large amounts of US dollars, you’ll ultimately want to look past the banks and other major financial institutions. Banks are notorious for charging large processing fees, some of which can even be hidden in your total transaction cost. Because of how their FX platform operates, you may be quoted one price and find out that your rate has been changed before your transaction is completed. Banks pay extremely high overhead costs and therefore need to mark up their prices accordingly on virtually all of their financial services. To summarize, you may be spending more money on exchange than you need to.
The Best Place to Convert CAD to USD in Quebec City
At Knightsbridge Foreign Exchange our goal is to save you as much money as possible whenever you swap dollars. We are so determined that we even have a “best rate guaranteed” policy that will beat the rates given by any major bank in Quebec City. Typically, our clients enjoy rates that are on average 1-2% better than the leading banks and financial institutions in all of Canada. At the end of the day, this translates to more money kept in your wallet. When you’re trading small sums of money, you should be worried about flat charges – an exchange rate difference won’t save you that many dollars. On the other hand, on large sized transactions even a marginally better rate could save you hundreds of dollars.
If you still feel inclined to use your bank to perform your US dollar transactions, we recommend that you first call all of your local Quebec City branches to compare rates between them. There’s no reason to be attached to your primary bank if their FX deals are poorer. Influenced by the global economy and the world currency market, exchange rates are constantly moving. Sometimes, a morning rate can be drastically different by the evening. This natural volatility in currency prices can create a ton of hassle when trying to time the market. For that reason, we suggest that you don’t worry about the mid market price of the dollar. Instead, try to find a foreign exchange company that offers a tighter spread (rates that are closest to the mid market rate).
At Knightsbridge Foreign Exchange, we understand that this process can often be confusing and time-consuming. In order to simplify the process, we offer customers the ability to book in a rate they feel comfortable with. Simply let us know beforehand what rate you’re looking for, and when the market hits it we will transact your funds the moment it appears. In addition, if you don’t feel like manually contacting all the banks in Quebec City for their quotes, don’t worry; we’ll do it for you for free. We check in with the major Canadian banks every day to determine their quotes. This allows us to ensure that we have the most competitive rate, and keep more money in your wallet.
Where to Exchange Physical Cash in Quebec City
It’s so important that you’re aware of all the foreign exchange options out there, regardless of your reason for transferring. After all, if you’re eating at a restaurant you’d want to see the entire menu, not just some of it. That way you can find the product that best suits your personal needs. Historically, the issue has been a lack of access to reliable information. Most people would gladly exchange their money at a bank without a second thought. However, thanks to the global outreach and information-driven Wide Web, individuals are slowly learning about improved alternatives. The key factor to understand is that while a bank may give a good deal for one of their financial services, it doesn’t mean each of their products is designed to save you money. Banks, credit unions, and other large financial institutions are operate with your loyalty in mind; they know you’ll come to them for foreign exchange anyway, so why would they compete on price? This even makes sense from a financial perspective. The truth is, banks have a ton of overhead costs to make up for, since expenses trickle down from all of their numerous service departments. From an economical viewpoint, the best way to save money on your foreign exchange transactions is to find a lean business with lower operating costs that fully specializes in currency exchange and doesn’t perform other financial services.
By this point you’ve probably determined that KnightsbridgeFX can save you up to 2% or more on your currency exchange transactions. But what does that mean for you? It means that you could stand to save hundreds or even thousands of dollars on large sized transfers. After all, currency exchange is a commodity service – the main thing foreign exchange companies compete in is price. If you’re planning to convert $100,000 Canadian dollars into USD, you’ll get to keep a whopping $2000 in your pocket. Even on transactions as low as $10,000 you will still save $200 with a rate that’s better by 2%.
International Currency Exchange
ICE is a massive physical currency exchange franchise in Canada that has many branches scattered across the province of Quebec. Unlike other smaller sized FX firms in Quebec City, ICE is a chain franchise – you can easily find them in other major Canadian cities by consulting their office directory. Their main Quebec City branch is situated at 43 Rue De Buade, and you could speak to their representatives at (418)-694-6906.
Devises Etrangeres Quebec
Also known as Foreign Currency Quebec, you could find this establishment at 1127 Rue Saint-Jean, and the company advertises no fees on their website. Most likely you would just pay the exchange rate quoted, which is fairly competitive for physical cash. If you want to give them a call, you could reach them at (418)-694-9898. This branch is open from 9AM to 5PM every day of the week except for Sunday, when it opens slightly later at 10AM.
Quebec City's Background
Appropriately named with roots to the Algonquin word meaning “where the river narrows”, Quebec City is Quebec’s capital city and is the second most populated city in Quebec next to Montreal. The city is known for its famous landmark buildings and unique architecture such as the Chàteau Frontenac, a hotel that covers the skyline and La Citadelle, a maintained fortress that surrounds the old city. Quebec City’s history is one of the oldest in North America with Jacques Cartier, a French explorer, erecting the first fort in 1535. Although it was soon abandoned, Samuel de Champlain, another French explorer, went on to reclaim Quebec in 1608.
Today, Quebec City remains rich in culture with its annual Winter Carnival, Saint-Jean-Baptiste Day celebrations, and it summer music festival which lasts 11 days starting during the first week of July. Other tourist attractions include Montmorency Falls, the Basilica of Sainte-Anne-de-Beauprè, the Mont-Sainte-Anne ski resort, and the Ice hotel. Furthermore, the city regularly hosts sporting events including the Special Olympics Canada National Winter Games in 2008, the 2008 IIHF World Championship, and other more commonly known sporting events such as Coupe Banque Nationale (Woman’s Tennis Association Tournament) and Red Bull’s Crashed Ice events.
INTERESTING TRIVIA FACTS ON QUEBEC CITY
- Not only is Quebec City the oldest Francophone community in Canada, but the city saw its official 400 year anniversary in 2008
- The Chateau Frontenac is the number one most photographed hotel in the entire world
- Quebec City is the only official city north of the border to be walled in – the city features almost 5 kilometers of walls.
- Only a small fraction of Quebec City residents speak only English, most speak either French or both languages
- The median age grouping in Quebec City is 43.5 which is one of the oldest in Canada
To find other cities serviced by Knightsbridge please visit the Currency Exchange in Canada page.