Currency Exchange in Toronto: 416-479-0834

For those looking to exchange currency, Toronto’s metropolitan character and international population mean that you can find plenty of ways to get your money changed. However, despite Toronto’s array of numerous major banks, the best way to get a low rate on currency exchange is with a specialist company. At Knightsbridge Foreign Exchange, we exclusively devote ourselves to providing currency exchange at the most agreeable terms to our clients. Our low overhead means that we can pass on the savings to you.
Many bank clients are already disillusioned with the services they receive or the stiff fees they have to pay for basic banking functions. Nonetheless, if it’s your first time exchanging money, it’s natural for your own bank to come to mind first. The danger in that scenario, as experienced US travelers can attest, is that banks already count on receiving your business. Unlike a devoted exchange company, they have no motivation to stay competitive. As a result, you can get gouged on the exchange fees.

Where to Exchange Currency in Toronto

When it comes to Toronto currency exchange, there is no shortage in terms of options. The Toronto Money Exchange sector is vast and the options range from independent retail providers, which provide cash exchange, to banks, to even independent providers that deal in relatively larger amounts. These businesses are located all over the city and can be found in malls, at boutique locations along the street and obviously at local bank branches. Most come with their advantages and disadvantages and at the end of the day, the choice you make will be dependent on what your needs are. For example, if you’re looking for the cheapest way to exchange Canadian to US dollars quickly and securely then perhaps an independent provider such as Knightsbridge Foreign Exchange is the best solution. However, if you’re really hesitant to use a provider besides your bank and cost is not a concern to you then perhaps the bank really is your best choice. Generally, when dealing in cash, the costs will be highest as the money exchange in Toronto comes with higher inventory costs for the providers. Many retail providers can also be very misleading in their pricing so be sure to pay extra attention to the rate they provide you.

How to Get the Best Exchange Rate in Toronto

On average, clients who exchange currency with us save between 1 and 2 percent on exchange rates. While that may sound like pennies, it can quickly add up. Suppose that you need to exchange enough currency for a US home purchase. Consider that 2 percent of $100,000 Canadian dollars is $2,000 dollars. We think the choice is clear. If you’re getting ready to exchange money for the first time, we don’t just want you to take our word for it. Take a minute or two to call your local bank. Ask them about the fees they charge to exchange currency. Then give us a call and see if we can’t offer you a better deal. If you call multiple banks to compare rates, keep in mind that currencies fluctuate quickly. It’s a good idea to confirm the precise exchange rate for any quote that you receive, at that moment.  We guarantee to beat the bank’s rate. KnightsbridgeFX will offer you favourable exchange rates in Sherwood Park, Toronto, and all the major cities in Canada.