All Canadian banks, including TD Bank, can help you convert currency from one currency to another currency. However, the important thing you want to think about is the exchange rate that the banks offer. TD bank can provide a wide variety of currencies and you can also get cash currency from the bank branch. Especially if you bank with TD bank, it is convenient for you to use them to exchange currency.
TD bank publishes some of their exchange rates online. The TD bank exchange rate can be viewed here: http://www.tdcanadatrust.com/fx/rates.jsp
The difference between the TD bank exchange rate between buying and selling the same currency can range from 2% to 5% or more. You must look at the website above to see their rates. However, you may want to compare TD bank’s exchange rate with other Canadian banks. You may even want to compare their rates with Knightsbridge Foreign Exchange (call 1-877-355-5239 to hear live exchange rates) to see the difference in exchange rates.
| Bank Exchange Rates | Markup % | Source |
| RBC – Royal Bank of Canada | 2.60% | RBC Exchange Rates |
| TD – Toronto Dominion Bank | 2.64% | TD Bank Exchange Rates |
| BMO – Bank of Montreal | 2.65% | BMO Exchange Rates |
| CIBC – CIBC Bank | 3.34% | CIBC Foreign Exchange Rates |
| Scotia – Scotia Bank | 2.88% | Scotia Bank Foreign Exchange Rates |
| HSBC – HSBC Bank | 2.10% | HSBC Foreign Exchange Rates |
| Desjardins | 2.49% | Desjardins Foreign Exchange Rates |
All Canadian banks, including TD bank, include a markup, hidden within the exchange rate that you see. This markup can vary in percentage and helps to pay for the costs of providing the service including the customer service representatives, rent, marketing, transfer costs, and much more. However, since most Canadians exchange currency with the bank that they have a bank account with, the banks use this as a profit centre and want to make profit on currency exchange. As a result, foreign exchange companies, such as KnightsbridgeFX can offer better exchange rates than the bank by providing a better exchange rate and taking a lesser margin.
Compare the exchange rates below to the TD bank exchange rates and other bank exchange rates and you will get an idea of the margin. If you are interested in saving money, you can use a non-bank provider such as Knightsbridge Foreign Exchange to exchange currency. Knightsbridge offers the best currency exchange rates in Saint-Lambert. You can obtain live exchange rates from KnightsbridgeFX by calling 1-877-355-5239 or simply visit the home page for more details. Savings compared to bank exchange rates can be up to 2.5% and on large sums of money, this can add up. So call now and compare exchange rates.
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Suite 5700 Toronto, ON,
M5X 1C7
(416) 479-0834
Toll-Free: 1-877-355-5239
Fax: 1-877-355-5239
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Currency Exchange Canada.
