Where to Exchange Currency in Canada
When you need to exchange currency in Canada, where you do it changes how much you keep. The same Canadian dollars can buy noticeably different amounts of foreign currency depending on whether you use a bank, a kiosk, an online specialist, or an in-person office.
This guide walks through every option, what each really costs, and when it makes sense, so you can choose the right one for your situation.
Your Four Main Options
Canadians have four practical places to exchange currency. Each has a role, but they differ sharply on cost.
1. Bank Branches
Convenient if you already bank there, but the Big 5 typically embed a markup of 2.5% to 3.5% in the rate. Less common currencies may need to be ordered in, adding a wait.
2. Airport and Tourist Kiosks
The most expensive option in most cases. Kiosks serve last-minute travellers and price accordingly, often well above bank markups.
3. Online Currency Specialists
Usually the best rates for meaningful amounts. A specialist prices close to the mid-market rate and typically charges no conversion fee.
4. In-Person Specialists
For those who prefer to exchange face to face, our only walk-in location is in Windsor, Ontario, while we serve the rest of Canada online.
What Each Option Costs
| Where | Typical Cost | Best For | Watch Out For |
|---|---|---|---|
| Bank branch | 2.5% to 3.5% in the rate | Existing customers, small amounts | Order-in delays on rare currencies |
| Airport kiosk | Often 5% or more | Genuine last-minute need | The widest markups |
| Online specialist | Close to mid-market, no fee | Larger amounts, best rates | Minimums may apply |
| In-person specialist | Competitive, varies | Face-to-face service | Location dependent |
Markups are representative ranges and change with market conditions. Confirm a live quote before committing.
Which Should You Choose?
Match the option to the situation:
- Small amount, need it now: a bank branch is fine
- Travelling soon: an online specialist ahead of time beats the airport
- Large conversion: a specialist saves the most
- Prefer in person: a specialist office if you can reach one, otherwise online
For the mechanics of exchanging through a bank specifically, our guide on how to exchange currency in Canada covers the process in detail.
Why Planning Ahead Pays
The single most expensive habit is leaving your exchange to the airport on departure day. A little planning opens up far better rates. If you know you will need foreign currency, converting a few days ahead through a specialist almost always beats a rushed kiosk purchase.
To see how our own process works before you start, our how it works page walks through each step.
Online vs In-Person: Which Suits You
The choice between online and in-person exchange comes down to timing and preference. Online works best when you can plan a day or two ahead, since funds move electronically and arrive generally within one business day. It also tends to offer the best rates because online specialists operate on tighter margins.
In-person suits those who want to hand over or collect currency face to face, or who need it the same day. Our only physical walk-in location is in Windsor, Ontario, so for most of Canada the practical choice is an online specialist, which still delivers quickly and at a strong rate.
Currency Availability and Lead Time
Common currencies like US dollars are widely available, but less common ones may need to be ordered in, whether you use a bank or a specialist. If you know you will need an unusual currency, giving your provider a few days of notice avoids a last-minute scramble at a kiosk.
- US dollars: widely available, minimal lead time
- Major travel currencies: usually available with short notice
- Less common currencies: order ahead to avoid airport kiosks
A Simple Pre-Travel Checklist
Before any trip, a short routine keeps your currency costs low: check the mid-market rate for your destination, decide how much cash you actually need versus card spending, convert the cash portion through a specialist a few days ahead, and keep only a small buffer for arrival. This avoids both the airport markup and the risk of carrying too much cash.
Frequently Asked Questions
Where is the cheapest place to exchange currency in Canada?
An online currency specialist that prices close to the mid-market rate is usually the cheapest for meaningful amounts. Airport kiosks are typically the most expensive.
Can I exchange currency at any bank in Canada?
Yes, the major banks offer currency exchange, though less common currencies may need to be ordered in advance. Bank rates include a markup of roughly 2.5% to 3.5%.
Is it better to exchange currency before travelling or at my destination?
For most travellers, converting ahead of time through a specialist beats exchanging at an airport on departure day or relying on card fees abroad. Compare the rate against mid-market before deciding.
Where can I exchange currency in person?
Our only physical walk-in location is in Windsor, Ontario. Across the rest of Canada we serve clients online with delivery generally within one business day.
What is the worst place to exchange currency?
Airport and tourist kiosks generally offer the widest markups because they serve travellers with no time to compare, making them the most expensive option in most cases.
Exchange Where It Costs You Least
We help Canadians exchange currency at rates that beat the banks and kiosks. Register for free for a quote, or call 1-844-915-5151.
