TD is a great bank — but currency exchange is a side business for banks, and the cost is hidden in the rate. As FINTRAC-regulated foreign exchange specialists, we offer rates up to 3% better than the banks, with no transaction fees and a best-rate guarantee.
In most cases, yes. Major Canadian banks typically build a margin of roughly 2–3.5% into the exchange rates they post for retail customers — that's their profit, hidden inside the rate rather than charged as a fee.
Our rates are up to 3% better than the banks', we charge no transaction fees, and our Exchange Rate Guarantee means if you find a better rate anywhere, we'll beat it.
What actually differs when you exchange currency with a specialist instead of a bank.
| CanAm Currency Exchange | TD (typical big-bank retail FX) | |
|---|---|---|
| Exchange rate marginThe spread added to the mid-market rate | Specialist pricing — rates up to 3% better than bank rates, with a best-rate guarantee | Banks typically add roughly 2–3.5% to the mid-market rate, depending on currency and amount |
| Transaction fees | $0 — no transaction fees on exchanges | Wire and transfer fees may apply on top of the rate, depending on account type |
| Rate guarantee | Yes — find a better rate from a competitor and we'll beat it | No — posted rates are not negotiable for most retail clients |
| Rate transparencyCan you see the real cost before you commit? | Free, no-obligation quotes with live rates — lock your rate before you send anything | Margin is built into the posted rate; the true cost vs mid-market is rarely shown |
| Speed | Trades completed in hours; same-day delivery of funds to your bank account | Conversions are quick, but international transfers can take longer to settle |
| Large transfersProperty purchases, business payments, relocations | Dedicated specialists on the phone; better pricing as amounts grow | Larger amounts may require branch visits or negotiated dealing desks |
| Regulation & fund security | FINTRAC regulated (Government of Canada); client funds held in a segregated account at a major Canadian financial institution | Federally regulated bank (OSFI); deposits held within the bank |
| Minimum transaction | $1,500 online (flexible); no minimum in-store in Windsor | No minimum, but the rate margin applies to every dollar exchanged |
Bank margins and fees vary by institution, account type, currency pair, and amount, and change over time — always check TD's current posted rates before you trade. The ranges above reflect typical big-bank retail foreign exchange pricing in Canada; they are provided for general comparison, not as a quote of TD's rates on any given day.
The margin doesn't feel like a fee because you never see it on a statement — but on larger amounts it's very real money. Here's what a typical 2.5% bank margin represents:
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Illustrative example using a 2.5% margin for round-number clarity; actual margins vary. Your savings depend on the amount, currency pair, and the rates on the day you trade.
Fair — here are the four concerns we hear most from people switching from TD or another big bank, answered honestly.
Yes. We're regulated by FINTRAC, a Government of Canada agency — the same regulator that oversees money service businesses nationwide. Client funds are held in a segregated client account at a major Canadian financial institution, completely separate from our operating accounts, and every transaction is confirmed with a trade contract on our letterhead. With over $1 billion in transactions completed, this isn't a corner kiosk.
Run the math on your amount: at a typical bank margin, even $5,000 can cost you $100+ inside the rate. Our online minimum is $1,500 (with flexibility, and no minimum in-store in Windsor), and quotes are free with no obligation — so the worst case is you spend five minutes confirming your bank's rate was fine. The best case is you keep hundreds of dollars.
Registration is free and takes under five minutes — just your email to start. There's no obligation to trade, no monthly fees, and no impact on your existing banking. You only use it when you need to exchange currency, through our online trading platform or by phone.
You keep it — nothing about your banking changes. We handle only the conversion: you send us funds by eTransfer, EFT, wire, bank draft, debit, or cash, and we deliver the converted amount directly into your existing bank account, TD included, often the same day. Convenience and a better rate aren't mutually exclusive.
Most first-time clients complete their first exchange within a day.
Create your account online in under five minutes — free, no obligation, instant access to real-time rates and quotes.
Book online or call 1-844-915-5151 for a no-obligation quote. Happy with it? Lock it in and receive your trade confirmation from CanAm.
Send us the source funds and we convert at your locked rate — converted funds are typically in your bank account within one business day.
Verified Google reviews from CanAm clients.
"We recently moved back home to Canada from the U.S. and needed to move some U.S. currency. The rates offered were favourable compared to the big banks. From setting up an account, to transferring and receiving funds, the process was simple."
Verified client Google review"Great online portal and customer support. Haven't had an issue in 2.5 years!"
Verified client Google review"Karl was really kind and he gave us a great rate. He was great with communicating and he was very friendly. Really enjoyed my experience and will be back!"
Verified client Google reviewIn most cases, yes. Major Canadian banks typically build a margin of roughly 2–3.5% into their posted retail exchange rates. Our rates are up to 3% better than bank rates, we charge no transaction fees, and our Exchange Rate Guarantee means if you find a better rate from a competitor, we'll beat it.
Yes. We're regulated by FINTRAC, a Government of Canada agency. Client funds are held in a segregated client account at a major Canadian financial institution, separate from operating accounts, and a trade confirmation contract on our letterhead is sent to you upon execution of every transaction.
Currency exchange is a side business for a bank, priced for convenience rather than competitiveness — and the profit is built into the exchange rate itself, so it's less visible than a fee. As foreign exchange specialists, we operate on smaller margins and pass the difference to our clients.
Our minimum for online transactions is $1,500, though we offer flexibility. There's no minimum for in-store transactions at our Windsor location.
We offer same-day delivery of funds directly to your bank account. Trades can be completed within hours, and converted funds are typically in your account within one business day.
No. You keep banking exactly as you do today. We handle only the currency conversion — your converted funds are delivered directly to your existing bank account, including a TD account.
Register for a free account online — it takes less than five minutes and comes with no obligation to trade. You'll get access to real-time rates and no-obligation quotes, or you can call us at 1-844-915-5151.
Register free in under five minutes, see our live rates, and compare them against TD's posted rate for yourself. No fees, no obligation — just the numbers.
Sign up today to receive the best rates in Canada.
Please feel free to contact us for additional information.