Exchanging with KnightsbridgeFX vs. your bank could save you CAD$ 0
“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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There is no shortage of banks and financial institutions in Windsor; therefore finding somewhere to exchange your US dollars should be relatively easy. If you’re looking to buy or sell a large amount of money, you can call your local bank branch and get a quote.
If this is the route that you plan on taking, you should know that banks often charge hefty service charges and sometimes have hidden fees which are not included in the initial rate you are given. When changing a large amount of money, these additional fees can add up to a substantial amount of money which you are losing to the bank. Still interested?
Due to its geographical location of being right on the United States border, there is of course an unexpected high demand for buying and selling US dollars in Windsor. In order to accommodate this demand, there are a number of options for foreign currency exchange, so let’s explore some of these options to see where you can find the best currency exchange rates in the Windsor area.
The Ambassador International Bridge is a privately owned bridge that connects Windsor, Ontario and Detroit, Michigan. Its trade volume makes it amongst the busiest international border crossing in North America, so significant amounts of Canadian and US currency is bought and sold every day. Due to this, the Ambassador Bridge provides a Duty Free store that is located on the Canadian plaza. Amongst other retail services, the store provides visitor motor coach & tour services, an ATM machine, coffee and most importantly currency exchange. The currency exchange mostly caters to Canadians who need to purchase US dollars for their trip into the United States or for Americans who have just crossed over from the United States. Like most money exchange retail operations in Windsor, it doesn’t provide the best US/CAD exchange rate, but it does provide a convenient option. So if you’re an American who doesn’t know where to exchange currency or you’re a Canadian looking for a last minute exchange, this is definitely an option.
The Caesars Windsor hotel and casino is one of the most prominent attractions for tourists in Windsor. It’s located at 377 Riverside Drive, just off the Detroit Windsor Tunnel. The casino itself attracts a large number of American tourists from across the border but the Casino itself only uses Canadian dollars at its tables and slot machines. To address and provide convenience for its guests, it provides US to Canadian and Canadian to US dollar exchanges at its cashier windows on its gaming floor as well as the large number of kiosks that are available throughout the casino. They claim that their rates are competitive or better than the banks, if you have some time, you can compare the two rates just to validate their claim. You don’t have to be a gambler to exchange money, if you’re just visiting and looking for some cash to spend in Windsor you are more than free to use their foreign exchange services.
Unlike the Casino itself, US dollars can be used at the hotel front desk, the gift shop as well as at the hotel restaurant. However, the rates there are different from the rates provided at the casino, with the casino being a bit better. If you want to save a couple of dollars, you might want to exchange at the casino prior to doing any transactions within the hotel.
The Devonshire Mall in Windsor is located at 3100 Howard Avenue, just off the E.C. Row expressway. There is one currency exchange retail operation under continental currency exchange which provides a number of different currencies for purchase. As with typical money exchange cash retail operations, their rates are generally not as good due to their high overhead costs in maintaining a physical store location. These cash locations are generally adequate options if you need physical cash or if you’re exchanging a smaller amount of money. For larger volume transactions, it is best to find a specialized currency exchange broker.
Another popular option for exchanging currency is at the Windsor Train Station. The station itself is located at 298 Walked Road, just off of Riverside Drive. Since the station accommodates a large number of travelers entering and leaving Canada, it is only natural that they provide some sort of foreign currency exchange service inside the station. With most travelers looking to buy or sell US dollars, the primary exchange is US dollars but they do buy and sell most foreign currency. Their rates also tend to be quite competitive, so if you’re traveling via train, consider using the Windsor Via Rail station money exchange service. Americans traveling into Canada via Windsor can also take advantage of this service as well, since they provide good rates for selling US dollars and buying Canadian dollars
The service is opened Monday-Friday at 8:30 AM EST and is closed at 5:30 PM EST. It is open on Saturday at the same time but closes half an hour earlier at 5PM EST. It is closed on Sundays
Much like the Ambassador International Bridge, the Detroit-Windsor tunnel is another international crossing and also contains a duty free shop that provides foreign currency exchange called the Windsor Tunnel Currency Exchange. This location is mostly used by Canadians going to the United States, since the logistics makes it difficult for people coming from the United States to access. The exchange rates should be competitive but on large exchanges make sure that you shop around.
All the top five banks and most other banks and credit unions will provide international money exchange services in Windsor, Ontario. The big five banks comprising of RBC, TD Canada Trust, BMO, CIBC and RBC have a multitude of branches through the Windsor area. However, banks don’t typically have the best rates since they don’t really compete on price. In some cases you can get better rates if you’re subscribed to some premium cross-border banking services that they may offer.
An alternative option for money exchange is cash retail operations. There are a few situated within Windsor including Cash Money, which typically focuses on money loans but they also provide currency exchange. However cash retail operations are notorious for their bad exchange rates.
Getting the best exchange rates in Windsor is all about doing your research and comparing rates at the same time. Sometimes, you just have to exchange immediately out of necessity upon leaving Canada to go to the United States, so the currency exchange services at the duty free locations within the Ambassador International Bridge and the Detroit-Windsor tunnel are good options. If you have some time, the cash windows at the Caesars Windsor always provide great and competitive rates of anyone in Windsor and there are no additional fees that they charge. If you want to maximize your savings as much as possible, consider looking beyond Windsor. There are a number of specialized currency exchange brokers that are based elsewhere and can provide much better rates than anything you will get in Windsor. Most of these service providers have an online service and can exchange money online and funds can be sent directly to your bank account.
If you are looking to save money on your exchange transaction, going to the bank might not be your best option. Instead, you can call Knightsbridge Foreign Exchange. KBFX is proud to offer customers better a better than bank rate, guaranteed. We call the banks daily on a daily basis to find out their exchange rates, and price ours accordingly. On average, our customers receive rates 1-2% better than the banks. KBFX can save you hundreds, or even thousands of dollars depending on how large your transactions are. Why pay more when you don’t have to?
The process is easy. All you have to do is call us for a free, no-obligation quote. Once you receive a rate you are happy with, you just need to book it and we will send you a confirmation. You don’t have to transfer any funds until you confirm that you are pleased with your order. Leave the rest to us. We offer same or next day delivery, depending on what time of the day you place your order. That’s it. Simple. The best exchange rate on US dollars in Windsor guaranteed. Happen to find a better rate? No problem, let us know and we will be happy to match it for you.
Located just across the Detroit River from the city of Detroit, Michigan is Canada’s most southern city Windsor. The area was first settled by the French in 1749 as an agricultural settlement with French Canadian heritage evident in the many French street names found in Windsor. Uncharacteristic of Canada, Windsor is not foreign to tornadoes with the most serious incident in recent memory occurring in 1974. In addition to this problem, air pollution is prevalent due to coal-burning power plants in Detroit causing high respiratory illness figures and has earned Windsor the title of “the smog capital of Canada” by The Weather Network.
Despite some of the city’s drawbacks, Windsor has a reputable tourism industry with one of the largest casinos in Canada, Caesars Windsor, drawing many U.S. visitors. The city also has many riverfront parks and popular restaurants. Furthermore, the city has good educational institutions such as the University of Windsor and one of the lowest crime rates in Canada.
To find other cities serviced by Knightsbridge please visit the Currency Exchange in Canada page.