“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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If you plan on being an international student, here is what you need to consider about foreign exchange. Studying abroad is both an enriching and exciting experience. There is no better way to learn a new language, explore new worlds, or meet interesting people. The things you learn both inside and outside of the classroom will last a lifetime, enhancing both the value of your degree as well as new employment opportunities. There is however, one slight downside. Studying abroad is usually very expensive, although it does vary based on unique circumstances. Going to schools outside of your home country can often leads to international tuition fees. With tuition fees already reaching all time highs, the last thing you need is to lose money on exchanging your tuition payment into foreign currency.
Looking to head out of Saguenay and explore new territories? If so, you should incorporate affordable currency exchange into your financial plan. People may suggest that you visit your local bank to receive the best exchange rates in Saguenay. We’re here to show you that there are better options out there to save you money on all of your currency exchange transactions.
Speaking plainly, there are many sources of currency exchange available to you in Saguenay but they each fall into one of three categories. Every individual exchange provider is a major Canadian bank/credit union, independent brokerage, or retail FX chain franchise. Of course each option comes with its own upsides and drawbacks, so it’s your responsibility to seek out the best one. At the banks you’ll immediately receive a safe and secure exchange, but you forfeit your ability to get Saguenay’s most competitive exchange rates. You can think of independent brokerages as the exact opposite – better rates, but the exchange process can be less reliable. If you want the best USD exchange rates and foreign money rates in Saguenay coupled with a smooth and streamlined service, Knightsbridge Foreign Exchange has your back. KnightsbridgeFX is where you will get the best exchange rates in Quebec with zero hidden fees or service charges!
The closest place to Saguenay where you could board flights is the Québec City Jean Lesage International Airport. If you’re planning on heading overseas, whether it’s to fulfill your dreams of being an international student or just travelling, you will likely pass through here. And since you will be going to the airport regardless, you might think of saving your currency exchange for when you get there. While that is definitely a convenient strategy, you give up the best currency exchange rates in Saguenay through doing so. Much like the big banks and credit unions, currency exchange booths at airports need to add a higher mark-up on their rates in order to remain profitable. The cost to lease space for any retail business in an airport is no joke, and foreign exchange companies are just like any other storefront operation. You would be best served to avoid the airports when searching for more affordable foreign exchange opportunities.
It’s not unheard of to stumble upon a currency exchange kiosk during your travels around the Saguenay region. These kiosks are usually found in shopping malls, tourist locales, and hotels. Even though they are quick to use and convenient, they are unlikely to have the best currency exchange rates in Saguenay thanks to their operational overhead. Similar to other roadside retailers, currency exchange kiosks need to pay rent, maintenance, and other fees associated with brick and mortar establishments. While you’re searching for optimal currency conversions in the area, you may stumble across a few of these independent firms that claim to offer the best foreign money rates in Saguenay. If that’s the case, then you’ll want to first see if they ask you to verify your identity, since that is a government mandate. It’s not worth putting your financial information in jeopardy even for a chance at receiving the best currency exchange rates in Saguenay.
The truth is that banks and credit unions dominate the market share for currency exchange in Saguenay because they leverage high degrees of consumer trust. Banks know that most individuals seek them out as the only option, and that lets them get away with overcharging on exchange rates. Typically this overcharging comes in the form of exchange rate mark-ups or services fees that get tagged on. In all fairness, using the banks for foreign exchange isn’t all bad. They are highly convenient and trusted, so on small amounts you wouldn’t be losing too much on the exchange rate. However, if you’re looking to transact more than a few hundred dollars, you can save much more with a favourable exchange rate.
As they look to compete with the big banking system, independent currency exchange specialists are always trying to entice clients with. Some of the more notable promotions that you would see include paying off your transaction in instalments, or getting a better rate based on how much you exchange. Both of these special deals work in your favour to get you a better deal. KBFX focuses first on the exchange rates, because we know that saving money is the ultimate goal. At the end of the day, reliable currency exchange is all about getting a great exchange rate. As an online-based exchange provider, we avoid paying the standard brick-and-mortar operational fees that most of our competitors face. In turn, we are able to provide you with the most ideal rates in the province.
At Knightsbridge Foreign Exchange we understand the importance of saving money. School tuitions are high enough as it is, and the last thing we want is for you to lose money on the exchange of your payment. To find the best exchange rates in Saguenay call KBFX. We are proud to guarantee our customers with a better than bank rate. With our typical rates on average 1-2% better than the banks, you can take our word for it. Our company was founded on the premise that businesses and individuals are underserved by their banks in terms of both proactive service and competitive currency exchange pricing. We were built to beat bank exchange rates and save you money, and that is what we intend to do.
Think of Knightsbridge Foreign Exchange when looking to pay your tuition fees abroad, or any other currency exchange transactions you may have. Call us today to receive a free, no obligation quote.
The city of Saguenay (population 144,000) was created through the merger of communities Saguenay, Chicoutimi, Jonquière, La Baie, and Laterrière. Saguenay was first settled in 1676 and established as a fur trading post, which remained in operation all the way until 1782. Lac St-Jean (where Saguenay is located), is considered an oasis amongst the vast wilderness of Northern Quebec due to its pristine natural beauty. In terms of transportation infrastructure, few roads connect with Saguenay from the south and east, and only one major road connects from the Northwest. There are no major northbound roads from Saguenay, as there are no human settlements due north all the way to the Canadian Arctic Islands.
In terms of the local economy, Saguenay has three large industrial parks, along with several shopping and city centres dominating its commercial activities. Most of Saguenay’s industry is still developing, but analysts predict that applied technologies for energy, boreal forest, genomics, and biomedical sciences will play a major role here in the near future.
To find other cities serviced by Knightsbridge please visit the Currency Exchange in Canada page.