Compare Foreign Exchange Rates 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).

Compare Foreign Exchange Rates Toronto

Compare all foreign exchange rates in Canada offered by the banks. The table below is a comparison of all the major Canadian bank exchange rates. The rates have been sourced from their website or by calling their branch on a given day. Please note, exchange rates change frequently. Some of the banks require you to call them to see thier rates because they change a lot. Most of the Canadian bank exchange rates compare generally within each other in terms of exchange rates.

However, KnightsbridgeFX can offer you a better rate than the bank. If you are buying a significant amount of US dollars, do compare bank exchange rates to see how much you can save.

  Bank Spread % Source
  Royal Bank of Canada (RBC) 2.6% RBC Exchange Rates
  TD Bank 2.6% TD Exchange Rates
  Scotia Bank 2.8% Scotia Bank Exchange Rates
  Bank of Montreal (BMO) 2.6% BMO Exchange Rates
  CIBC 3.3% CIBC Exchange Rates
  Desjardins 2.5% Desjardins Exchange Rates
  HSBC 2.1% HSBC Exchange Rates
  Bank of Canada 0.0% Bank of Canada
  Knightsbridge FX 0.1%-0.5% KnightsbridgeFX


Credit Card Exchange Rates

Most credit card companies will charge a fee to exchange currency. The fee is built in to the exchange rate. The fee's are outlined in the terms and conditions of the credit card agreement. Many believe that this credit card markup is about 2.5%. Using your credit card to pay for something in a foreign currency is convenient, but you do end up paying a markup to use your credit card. Often, there are few alternatives, so there is not much you can do.


Physical Cash Currency Exchange

There are a number of places to exchange currency in Toronto. If you require physical currency, then you will need to find a place that handles physical cash. TD foreign exchange services is located in downtown Toronto and has physical cash for you to buy. You simply walk up to the counter and exchange your currency. However, the exchange rate at TD is a "cash rate" and this has a substantial markup, which can be up to 2% to 4%. If you do not need physical currency (ie you have a US dollar account) and need to buy or sell US dollars $5,000 or more, give Knightsbridge Foreign Exchange a call at 416-479-0834. This will give you the best exchange rate and will save you the most amount of money.



Resources: Canadian Bank Exchange Rates Comparison | Why Can't I Get The Bank of Canada Exchange Rate? | How to Compare Exchange Rates? | Currency Exchange - History