How much am I saving compared to exchanging with my bank?

You can expect to save around 1.5% to 2.5% of your transaction compared to what your bank would offer. Your savings amount will depend on the amount you’re exchanging.

Banks charge as much as 2.5% or more when they exchange currency, which translates to $25 for each $1,000 you exchange.

For example, if you’re buying $400,000 USD with CAD to purchase a property or make an investment, you could be losing CAD $10,000 on bank fees alone. That is a lot of money coming out of your pocket.

On the other hand, our margin is between 0.1% and 0.8% depending on the amount you’re exchanging. So this could generate up to CAD $8,000 in savings compared to your bank when you’re exchanging the same CAD $400,000.

Of course, you don’t make such high exchanges every day. So how could your savings look like when you’re exchanging less money, but more frequently?

If you exchange $3,000 CAD for USD with us every month, you save CAD $80 on every trade.
That is almost $1,000 you get to save every year, by simply using our service instead of the banks’.

In the end, it’s up to you. But we believe that you can find way better options to spend your money on, than bank fees.