Currency Exchange Toronto

Looking for the BEST currency exchange rates in Toronto? Get UNBEATABLE currency exchange rates with Lock-in your exchange rate at 416-479-0834 or 1-877-355-5239 (KBFX).

How to Save on Foreign Exchange Rates When Travelling?

As Canadians travel throughout the world, when they travel, they need to purchase currency of the local markets they travel. Exchanging cash at hotels and malls in local tourist markets is convenient but can be very expensive. The markup can be substantial at some of these places.

A credit card can charge a markup about 2.5% on top of the middle market exchange rate. This is reasonable but is also costly. However, it is convenient.

Before you exchange currency cash at a local outlet, compare the exchange rate you are getting with the interbank exchange rate and if the markup is a lot, then find another place. If the markups you are finding is greater than 2.5%, then you might want to just use your credit card to exchange currency.

You can also try to negotiate with different places to see if they can give you a deal. Knowledge is power.