Currency exchange in Canada is a very important part of the travel and financial industries. You can travel to Canada with a currency that needs to be exchanged, or you can exchange your Canadian dollars before you leave the country. There are a few options listed below that will make this process easier for you, and you can try each of them depending on your schedule, location, and travel itinerary.
Come To The Airport
When you get to the airport, you can come to a business office that will exchange your currency for you. The local exchange rates are posted when you come to the window, and you can quickly get the bills that you need. This is especially helpful if you are catching a connecting flight or do not have time to exchange your cash before arriving at the airport.
CIBC has branches all over Canada, and you may choose to go to the branch nearest you because you already have an account with this bank. The bank will exchange your cash in the branch, and you will receive the bills and coins you need.
HSBC is another large bank in Canada that allows you to exchange your currency inside the branch. You can wait in line to see a teller, and the teller will exchange any cash you have from any country. You can ask about the exchange rated when you meet with the teller, and you will get a receipt for any exchange that is done.
Plus, you can add some of this money to your account if you have an HSBC account.
Scotiabank is best known for sponsoring the arena where the Toronto Raptors play, and they also have several branches throughout the country. If you go into a Scotiabank branch, you can get the teller to exchange your money for you. You can ask the teller what the exchange rate is when you hand over your cash, and you can even add that mone to your bank account.
The Royal Bank of Canada is a very popular bank in Canada that allows you to exchange foreign currency at any time. Plus, you can exchange your money in the drive-thru window if you need to. You should ask the teller which currencies they support, and you will get a receipt that shows the precise exchange rate you got.
The Bank of Montreal may be near the airport or on your way to the airport when you are preparing to travel. Make sure that you have visited the branch before leaving because you need to exchange your money before you get on the plane. Plus, you can stop by a BMP branch on your way home if you have just landed.
A Local Wire Transfer Office
You may be familiar with a local wire transfer office in your area. You can go to this office at any time, and you can exchange your foreign currency. As with all the other options here, you need to make sure that you have asked for the exchange rate before exchange your money. Plus, you need to ask if they support the currency that you are holding.
One More Thing About Exchanging Your Currency
Make sure that you request the specific bills and coins you need when you are exchanging your money. You can get the cash that is needed for cab fare, to buy food, or to tip people when you land in a new country. Plus, you can convert it all back to Canadian cash when you land.