As Surrey’s trusted online currency exchange service, we’ve helped thousands of local residents get better rates than what they’d find at bank branches along King George Boulevard, 152nd Street, or Fraser Highway. In this complete guide, we’ll show you exactly how currency exchange works in Surrey and how to get the most value for your money.
Understanding Currency Exchange Rates in Surrey
Currency exchange rates fluctuate constantly based on global economic conditions, but the rate you see on Google or financial news sites isn’t the rate you’ll actually get. That’s the “mid-market rate”—the rate banks and large financial institutions use when trading with each other.
When you exchange currency at a Surrey bank branch or currency exchange shop, they add a markup to this mid-market rate. This markup is their profit, and it typically ranges from 3-7% depending on where you exchange and which currency you’re buying.
How Surrey Banks Price Currency Exchange
Major banks in Surrey—TD, RBC, CIBC, Scotiabank, and BMO—typically markup currency exchange rates by 3-5% for common currencies like US dollars and Euros. For less common currencies, markups can reach 6-8%.
They often advertise “no commission” currency exchange, which sounds attractive. But the commission isn’t gone—it’s simply hidden in a worse exchange rate. This is how banks make their profit while technically not charging a separate fee.
| Exchange Method | Typical Markup | Additional Fees | Best For |
|---|---|---|---|
| Surrey Bank Branches | 3-5% | $5-20 service fees | Emergency same-day needs |
| Currency Exchange Shops | 4-6% | Varies by location | Walk-in convenience |
| Airport Exchange Booths | 7-12% | Often included in rate | Last-minute emergencies only |
| Online Currency Exchange | 1-2% | Free delivery over $500 | Best rates + convenience |
Currency Exchange Options in Surrey
Surrey residents have several options when it comes to exchanging currency. Each has advantages and disadvantages depending on your specific needs, timeline, and the amount you’re exchanging.
Bank Branches Throughout Surrey
Every major Canadian bank has multiple branches throughout Surrey where you can exchange currency. You’ll find TD, RBC, CIBC, Scotiabank, and BMO locations in Guildford, Newton, Fleetwood, Cloverdale, and City Centre.
Advantages:
- Convenient if you’re already banking there
- Can exchange currency same-day (if they have stock)
- Familiar, established institutions
Disadvantages:
- Worst exchange rates (3-5% markup)
- Additional service fees for non-account holders
- Limited branch hours (closed evenings/weekends)
- May not have all currencies in stock
- Need to physically visit the branch
Currency Exchange Shops in Surrey
Several independent currency exchange businesses operate in Surrey, particularly in areas like Newton and near Surrey Central. These specialize in currency exchange and money transfer services.
Advantages:
- Sometimes better rates than banks
- May have less common currencies available
- Staff specialized in currency exchange
Disadvantages:
- Still markup rates by 4-6%
- Must physically visit location
- Hours still limited compared to online
- Rates vary significantly between shops
Online Currency Exchange Services
Online currency exchange services like CanAm Currency Exchange offer the best combination of competitive rates and convenience. We deliver currency directly to your Surrey address, eliminating the need to visit physical locations.
Advantages:
- Best exchange rates (typically 2-3% better than Surrey banks)
- Order from anywhere—home, work, or on mobile
- Currency delivered to your Surrey address
- Available 24/7 for placing orders
- Free delivery on orders over $500
- Transparent pricing with no hidden fees
Disadvantages:
- Requires 1-2 business days for delivery (not same-day)
- Must plan ahead rather than last-minute exchanges
Ready to compare rates? Call us at 1-888-509-7798 or visit our website to see how much you’ll save.
Popular Currency Exchange Scenarios for Surrey Residents
Surrey’s location near the US border and its diverse, internationally-connected population creates unique currency exchange needs. Here are the most common scenarios we help Surrey residents with:
Cross-Border Shopping to Washington State
Surrey residents frequently cross the border to Bellingham, Seattle, or Blaine for shopping trips. Whether you’re heading to Costco, shopping at outlet malls, or filling up on gas, having US dollars before you cross saves you from unfavorable exchange rates at US retailers.
We recommend exchanging $200-500 USD for typical shopping trips, or more if you’re making larger purchases like electronics or furniture. Having cash on hand also helps you avoid credit card foreign transaction fees (typically 2.5%).
Vacation Travel from Surrey
Planning a trip to Mexico, Europe, Asia, or the Caribbean? Exchanging currency before you travel is almost always cheaper than exchanging at your destination or using airport exchange booths.
For a typical one-week vacation, we suggest:
- US destinations: $300-600 USD in cash for tips, small purchases, and emergencies
- Mexico/Caribbean: $200-400 USD (widely accepted) plus local currency for specific needs
- Europe: €300-500 for initial expenses, plus credit card for larger purchases
- Asia: Varies by country—contact us for recommendations
Supporting Family Overseas
Many Surrey residents regularly send money to family in India, the Philippines, China, and other countries. While wire transfers work for regular remittances, currency exchange can be more cost-effective for larger amounts or when family members are visiting.
We serve Surrey’s diverse communities with competitive rates on:
- Indian Rupee (INR)
- Philippine Peso (PHP)
- Chinese Yuan (CNY)
- Pakistani Rupee (PKR)
- Vietnamese Dong (VND)
- Korean Won (KRW)
Business Currency Exchange
Surrey businesses importing goods from the US, paying international suppliers, or managing cross-border operations need reliable currency exchange services. We work with Surrey companies to provide:
- Competitive rates on regular business transactions
- Volume pricing for larger exchanges
- Invoicing for accounting purposes
- Quick turnaround for time-sensitive payments
Business currency exchange needs? Call 1-888-509-7798 to discuss volume pricing and commercial accounts.
How to Exchange Currency in Surrey with CanAm
Exchanging currency with us is simpler than visiting a Surrey bank branch. Here’s exactly how it works:
Step 1: Get Your Rate Quote
Visit our website or call 1-888-509-7798 to get an instant rate quote. Tell us which currency you need and how much you want to exchange. We’ll give you our current rate with no obligation to proceed.
You can compare this rate to what your Surrey bank offers—we’re confident you’ll see significant savings. Our rates are displayed transparently, and we update them throughout the day as markets move.
Step 2: Place Your Order
If you’re happy with the rate (and we’re confident you will be), place your order online or over the phone. We’ll lock in your exchange rate so you don’t have to worry about fluctuations while completing payment.
You’ll provide your Surrey delivery address and select your delivery speed. Standard delivery (1-2 business days) is free on orders over $500. Rush delivery is available for urgent needs.
Step 3: Complete Payment Securely
Pay via Interac e-Transfer for smaller amounts or direct bank transfer for larger transactions. Both methods are secure, traceable, and allow us to verify payment quickly.
We never ask for payment through unusual methods or untraceable transfers. As a FINTRAC-registered business, we follow strict security protocols to protect your money and information.
Step 4: Receive Currency at Your Surrey Address
Your foreign currency is delivered directly to your home or business in Surrey via secure, insured courier. You’ll receive tracking information so you know exactly when to expect delivery.
No need to drive to a bank branch, wait in line, or work around limited banking hours. The currency comes to you, and you can track it every step of the way.
| Process Step | Time Required | Your Effort |
|---|---|---|
| Get rate quote | 2 minutes | Visit website or call |
| Place order | 3 minutes | Provide delivery details |
| Complete payment | 5 minutes | Interac e-Transfer or bank transfer |
| Receive delivery | 1-2 business days | Accept secure courier delivery |
| Total active time: Less than 10 minutes | ||
Currency Exchange Tips for Surrey Residents
After helping thousands of Surrey residents exchange currency, we’ve learned what works best. Here are our top tips for getting the most value from your currency exchange:
Plan Ahead When Possible
Last-minute currency exchange forces you into whatever option is immediately available—usually Surrey bank branches with the worst rates. Planning even 3-4 days ahead lets you access better online rates with delivery to your home.
If you know you’re traveling in a month, exchange currency now. Rates fluctuate, but the savings from using online exchange versus Surrey banks typically outweigh any rate movements over short periods.
Compare Rates Before Every Exchange
Even if you used your Surrey bank last time, compare rates for every exchange. The difference between providers can vary depending on the currency and market conditions. A quick phone call to us at 1-888-509-7798 takes two minutes and could save you hundreds.
Exchange Larger Amounts Less Frequently
If you travel to the US regularly or exchange currency for business, consider exchanging larger amounts less frequently rather than small amounts often. This reduces the number of times you pay the exchange spread and any transaction fees.
For example, instead of exchanging $500 USD four times per year, consider exchanging $2,000 once. You’ll save on the cumulative spread difference.
Avoid Airport Exchange Booths
Currency exchange booths at YVR Airport or US airports offer the worst rates you’ll find anywhere—often 7-12% worse than mid-market rates. These should only be used for absolute emergencies when you have no other option.
Always exchange currency before arriving at the airport. Even Surrey bank rates are significantly better than airport booths.
Keep Some USD on Hand
Given Surrey’s proximity to the US border, it’s smart to keep $200-300 USD at home for spontaneous cross-border trips or emergencies. This way you’re not forced into unfavorable last-minute exchanges.
Understanding Currency Exchange Fees and Costs
Currency exchange costs come in several forms, and understanding each helps you identify the true total cost of any exchange.
Exchange Rate Markup
This is the primary cost—the difference between the mid-market rate and the rate you’re offered. On $5,000 USD exchanged at a Surrey bank with a 4% markup, you pay $200 CAD more than you would at mid-market rate.
Our typical markup is 1-2%, meaning on that same $5,000 USD exchange, you save $100-150 compared to Surrey banks.
Service Fees and Commissions
Some Surrey banks and exchange shops charge explicit fees on top of their exchange rate markup:
- Transaction fees: $5-20 per exchange
- Non-customer fees: Additional charges if you don’t bank there
- Delivery fees: Charges for ordering currency to branch
We don’t charge separate service fees. The rate you see is the rate you pay, with free delivery on orders over $500 to Surrey addresses.
Credit Card Foreign Transaction Fees
If you use Canadian credit cards for purchases in foreign currencies, most charge 2.5% foreign transaction fees. This is separate from currency exchange—you pay both the conversion spread and the 2.5% fee.
For US shopping trips from Surrey, using cash you exchanged beforehand at good rates often beats credit cards even with rewards points.
Currencies We Exchange for Surrey Residents
We exchange over 50 currencies to serve Surrey’s diverse, internationally-connected community. Here are our most popular currencies:
North American Currencies
- US Dollar (USD): Our most popular currency for cross-border shopping and US travel
- Mexican Peso (MXN): Great rates for Cancun, Puerto Vallarta, and other vacation destinations
European Currencies
- Euro (EUR): Used across 20+ European countries
- British Pound (GBP): Competitive rates for UK travel
- Swiss Franc (CHF): For Switzerland and Liechtenstein
Asian Currencies
- Indian Rupee (INR): Serving Surrey’s large South Asian community
- Philippine Peso (PHP): Excellent rates for Surrey’s Filipino residents
- Chinese Yuan (CNY): For family visits and business in China
- Japanese Yen (JPY): Great rates for Japan travel
- Korean Won (KRW): For South Korea travel and family support
- Thai Baht (THB): Popular for Thailand vacations
- Vietnamese Dong (VND): Serving Surrey’s Vietnamese community
Middle Eastern & Other Currencies
- UAE Dirham (AED): For Dubai and Abu Dhabi
- Australian Dollar (AUD): For Australia travel
- New Zealand Dollar (NZD): For New Zealand travel
Need a currency not listed? Call 1-888-509-7798—we can source almost any currency you need.
Why Surrey Residents Trust CanAm Currency Exchange
We’ve built our reputation on delivering what Surrey residents care about most: better rates, reliable service, and trustworthy operation.
Transparent, Competitive Rates
We display our rates openly and update them throughout the day as markets move. What you see is what you get—no hidden fees, no surprises at checkout. Our rates consistently beat Surrey bank branches by 2-3%, putting more money in your pocket.
FINTRAC Registered and BBB A+ Rated
We’re registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada), which means we follow strict regulatory requirements for anti-money laundering and security. We also maintain an A+ rating with the Better Business Bureau, reflecting our commitment to customer satisfaction.
When you’re exchanging thousands of dollars, you need a provider you can trust. We’ve earned that trust through 15+ years of reliable operation.
Convenient Delivery to Surrey Addresses
Whether you’re in Fleetwood, Newton, Guildford, Cloverdale, or City Centre, we deliver currency directly to your address. No driving to branches, no waiting in lines, no working around banking hours.
All deliveries are fully insured and tracked. You know exactly when your currency will arrive, and it’s protected throughout the journey.
Expert Currency Specialists
When you call us, you speak with currency exchange specialists—not general bank tellers handling dozens of different services. We can answer questions about timing, provide market insights, and recommend strategies for regular currency needs.
Frequently Asked Questions About Currency Exchange in Surrey
How much cash should I exchange for my trip?
It depends on your destination and spending style. Generally, we recommend enough cash for 2-3 days of expenses plus emergencies, with credit cards handling larger purchases. For US trips from Surrey, $300-500 USD covers most needs. For international destinations, contact us for specific recommendations.
When is the best time to exchange currency?
Currency markets fluctuate constantly, making it impossible to perfectly time exchanges. For typical vacation amounts ($500-2,000), the savings from using competitive online rates versus Surrey banks far exceeds any potential gain from timing the market. Exchange when you need currency, but shop around for the best rates.
Can I exchange currency back if I don’t use it all?
Yes, we buy back unused currency. However, you’ll pay the spread again, so it’s better to exchange only what you realistically need. Keep some popular currencies like USD on hand for future needs rather than converting back and forth.
Is online currency exchange safe?
Yes, when you use regulated providers like us. We’re FINTRAC-registered, BBB A+ rated, and have been operating since 2009. Payments go through secure Canadian banking channels, and deliveries are fully insured and tracked. Many Surrey residents find it safer than carrying large amounts of cash from bank branches to their cars.
What if I need currency urgently?
We offer expedited delivery for urgent needs. While standard delivery takes 1-2 business days, rush service can get currency to Surrey addresses faster. Contact us at 1-888-509-7798 to discuss your timeline and we’ll do our best to accommodate.
Start Saving on Currency Exchange Today
The next time you need foreign currency—for vacation, business, family support, or cross-border shopping—don’t automatically default to your Surrey bank branch. Take five minutes to compare rates and see how much you could save.
Get Your Free Quote
Call us at 1-888-509-7798 or visit our website for an instant, no-obligation rate quote. We’ll show you exactly how much you’ll save compared to Surrey banks, and there’s absolutely no pressure to proceed.
Join Thousands of Surrey Residents
Hundreds of Surrey families and businesses already save money on every currency exchange by working with us. They enjoy better rates, convenient home delivery, and expert service from currency specialists who care about getting them the best value.
Your next currency exchange is an opportunity to keep more of your hard-earned money. Don’t let Surrey banks take hundreds of dollars in hidden exchange rate markups.
Get started now: Call 1-888-509-7798 or visit canamcurrencyexchange.com
CanAm Currency Exchange is a FINTRAC-registered money services business serving customers across Canada. We maintain an A+ BBB rating and have provided trusted currency exchange services since 2009. Free delivery on orders over $500 to Surrey, BC addresses.
