Airport currency exchange is the most expensive way to convert money in Canada, and it is not close. The kiosks you pass on the way to your gate rely on convenience and urgency, and they price accordingly, with markups that often run well above what a bank charges.
We help travellers avoid this every day. This guide explains why airport rates are so poor and what to do instead, so your travel budget goes further.
Why Airport Rates Are So Poor
Airport kiosks serve a captive audience: travellers who have run out of time to compare options. With little price competition inside the terminal and high rent to cover, kiosks apply some of the widest markups in the market.
Key fact: airport currency kiosks typically apply the widest exchange markups in Canada, because they serve travellers with no time to shop around.
How Much More It Costs
While banks embed a markup of roughly 2.5% to 3.5%, airport kiosks can charge noticeably more, sometimes well above 5% on the rate. On a few hundred dollars of travel money, that difference is real, and it grows with the amount.
| Where | Typical Markup | Relative Cost |
|---|---|---|
| Online specialist | Close to mid-market | Lowest |
| Bank branch | 2.5% to 3.5% | Moderate |
| Airport kiosk | Often 5% or more | Highest |
Markups are representative and change with location and conditions.
What to Do Instead
The fix is almost always planning a little ahead:
- Convert through an online specialist a few days before you travel
- Order any foreign cash you need in advance rather than at the gate
- Use a card that charges in local currency for on-the-ground spending
- Keep only a small cash buffer for arrival, not your whole budget
Our comparison of a Calgary airport versus online currency exchange shows how much the timing choice matters in practice.
The Rare Case for Using an Airport Kiosk
There is one honest exception: a genuine last-minute need with no other option. If you land without local cash and need some immediately, a small kiosk exchange to cover a taxi or a meal is reasonable. Just keep it small and convert the rest through a better channel.
Why Kiosks Can Charge So Much
Airport currency kiosks operate in a near-captive market. Once you are past security, your options are limited to whatever is in the terminal, and the operators know it. High rent, limited competition, and time-pressured customers combine to support markups that would not survive in a competitive setting.
This is not unique to any one airport; it is the structural reason kiosks across the country tend to offer the poorest rates. Understanding the why makes it easier to plan around.
Cards and ATMs Abroad: A Better Backup
If you arrive without local cash, a card that charges in the local currency, or a withdrawal from a bank ATM, is usually cheaper than an airport kiosk. The key is to always decline dynamic currency conversion, the option to be charged in Canadian dollars, which bakes in a poor rate. Choosing the local currency lets your own provider handle the conversion.
- Prefer a card that charges in local currency over a kiosk
- Always decline being charged in Canadian dollars abroad
- Use bank ATMs rather than standalone currency machines
Planning Ahead Is the Real Answer
Almost every airport-kiosk problem disappears with a few days of planning. Convert the cash you need through a specialist before you travel, keep a small arrival buffer, and rely on cards for larger spending abroad. The airport kiosk then becomes a genuine last resort rather than a default, which is exactly where it belongs.
Frequently Asked Questions
Why is airport currency exchange so expensive?
Airport kiosks serve travellers with no time to compare and face little in-terminal competition, so they apply the widest markups, often above 5%. That makes them the most expensive option in most cases.
Is it better to exchange money before the airport?
Yes. Converting through an online specialist or ordering cash a few days ahead almost always beats an airport kiosk, which carries the widest markup.
How much more do airport kiosks charge?
While banks embed a markup of roughly 2.5% to 3.5%, airport kiosks can charge well above 5% on the rate. The exact figure varies by location.
Should I ever use an airport currency exchange?
Only for a genuine last-minute need, and then only for a small amount to cover immediate costs. Convert the rest through a cheaper channel.
What is the cheapest way to get travel money in Canada?
Converting through an online FINTRAC-regulated specialist ahead of travel, and using a card that charges in local currency abroad, is usually the cheapest combination.
Get Travel Money Without the Airport Markup
Plan ahead and convert at a better rate. Register for free for a quote before you fly, or call 1-844-915-5151.
