Two Canadian non-bank currency specialists, both regulated, both beating bank rates. The differences show up in minimums, coverage and how you actually move the money.
Interchange Financial is built around retail branches in the Greater Toronto Area, with foreign cash delivered by Canada Post across the country. We are built around electronic bank-to-bank conversion, with a physical counter in Windsor and phone lines in six cities. If you want banknotes in hand at a downtown Toronto counter, Interchange is closer to that. If you are converting funds between Canadian bank accounts, our model removes the branch visit entirely.
Worth knowing before you compare anything, because the two companies are solving slightly different problems.
A Toronto-headquartered currency exchange specialist established in 2001. They run four retail locations: Toronto Downtown at 20 Dundas Street West, Toronto North York, Markham and Brampton. Their toll-free line is 1-888-972-7799.
Their service mix covers cash exchange, an account-to-account electronic service, international money transfers to a long list of destination countries, corporate FX, wholesale banknotes and cheque cashing. They advertise a Best Rate Guarantee and hold an A+ rating with the Better Business Bureau.
Foreign cash can be ordered online and shipped anywhere in Canada by Canada Post in two business days, or picked up in person at one of their four branches.
We are a FINTRAC-registered money service business headquartered at 3234 Dougall Ave in Windsor, Ontario, with over $1 billion converted and more than 100 currencies available.
Our core service is electronic conversion between Canadian bank accounts. You register free, lock a quoted rate by phone or through the trading platform, send the source funds, and receive the converted funds back, generally same day or next business day. Client money sits in a segregated account at a major Canadian financial institution, separate from our operating accounts.
We also sell physical gold and silver as an authorized Royal Canadian Mint dealer, which no other FX provider in this comparison does.
Everything below comes from what each company publishes on its own site.
| CanAm Currency Exchange | Interchange Financial | |
|---|---|---|
| Regulator | FINTRAC registered MSB | Federally regulated exchange specialist |
| Founded / headquarters | Windsor, Ontario | Established 2001, Toronto |
| Retail counters | 1 (Windsor) | 4 (Toronto x2, Markham, Brampton) |
| Phone coverage | Windsor, Toronto, Sarnia, Brantford, Sault Ste. Marie, Regina | Single toll-free line |
| Online minimum | $800, with flexibility. No minimum in store | $500 electronic, $100 cash orders |
| Large transfers | Contact us above $5,000 to book | Contact required above $100,000 |
| Foreign cash by mail | Not offered | Canada Post, 2 business days |
| Bank-to-bank conversion | Core service, funds land in your account | Offered as account-to-account service |
| Rate guarantee | Beat any documented competitor rate | Best Rate Guarantee |
| Segregated client funds | Yes, major Canadian institution | Not specified publicly |
| Gold and silver bullion | Yes, Royal Canadian Mint authorized dealer | Not offered |
| Wholesale banknotes | Not offered | Offered |
| Cheque cashing | Not offered | Offered |
Details drawn from published company information as of July 2026. Service terms change; confirm current details with either provider before transacting. We do not publish comparative rate figures because live rates move constantly and any number printed here would be stale within hours.
We would rather tell you this plainly than pretend we are right for every situation.
Walking into a downtown Toronto branch and leaving with euros or yen in your pocket is something we cannot do outside Windsor. Interchange has four GTA counters for exactly that.
Their Canada Post delivery service puts physical foreign currency at your door in two business days anywhere in the country. That is a real convenience if you are nowhere near a counter.
Their published cash minimum starts at $100 and electronic conversions at $500. Our online minimum sits at $800, though we apply flexibility and have no minimum for in-store transactions.
Canadians paid in US dollars by an American employer are converting the same currency pair over and over, often monthly. That is a bank-to-bank problem, not a banknote problem. Our whole process is built for it: register once, lock rates by phone, funds settle back into your account without a branch visit. Windsor sits directly across from Detroit, so this is the traffic we handle most.
Importers, exporters and people closing on US property need documentation and a named contact more than they need a counter. Every trade generates a confirmation contract on our letterhead with a traceable confirmation number, and client funds sit in a segregated account throughout. Our business exchange service is set up around that workflow.
If part of the reason you are converting currency is that you are uneasy about where the Canadian dollar is heading, holding gold is a related decision. As a Royal Canadian Mint authorized dealer we handle both sides of that under one roof. Interchange does not sell bullion, and no bank will hand you a gold maple leaf.
Interchange's physical presence is concentrated in Toronto, North York, Markham and Brampton. We staff local phone lines in Windsor, Toronto, Sarnia, Brantford, Sault Ste. Marie and Regina, and serve the rest of the country electronically. Southwestern Ontario and the Prairies are markets we know well.
Both companies advertise a rate guarantee. Neither claim means much until you test it against a real amount on a real day.
See how both of us compare against the banks, which is the gap that usually matters more than the gap between us.
Yes. Interchange Financial has operated since 2001, is federally regulated as a currency exchange specialist, and holds an A+ rating with the Better Business Bureau. Comparing providers is about fit, not legitimacy. Both companies here are properly registered.
Neither company can honestly answer that in advance, because rates are quoted live and vary by amount, currency pair and time of day. Both of us publish a rate guarantee. The practical answer is to get quotes from both within the same hour for the same amount and compare the final settlement figure. Our guarantee commits us to beating a documented competitor rate, so a written Interchange quote is something we can price directly against.
No. We do not ship physical banknotes by mail. Cash transactions happen at our Windsor counter at 3234 Dougall Ave, and everything else runs electronically between bank accounts. If mailed foreign cash is what you need, Interchange offers that through Canada Post.
Our online minimum is $800 per transaction, though we do apply flexibility. There is no minimum for in-store transactions in Windsor. For amounts above $5,000 you need to contact us directly to book the rate rather than using the online converter.
You send us the source funds, we convert at your locked rate, and the money is generally back in your specified account same day or next business day. Every transaction carries a confirmation number and is traceable electronically through Canadian banks.
Client funds are held in a segregated client account at a major Canadian financial institution, kept separate from our operating accounts. You receive a trade confirmation contract on our letterhead documenting the agreed terms. Our banking relationship is in good standing and our institution will confirm that by bank letter or phone reference on request.
Yes. We are registered with FINTRAC, which covers us nationally, and we serve clients across Canada by electronic funds transfer. Beyond Windsor we maintain local phone lines in Toronto, Sarnia, Brantford, Sault Ste. Marie and Regina. Here is how the process works from registration through settlement.
Registration is free and takes under five minutes. Quotes carry no obligation, and if you already have a rate from Interchange or anyone else, bring it to us and we will price against it.
Register free Call 1-844-915-5151
Sign up today to receive the best rates in Canada.
Please feel free to contact us for additional information.