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Best place to exchange currency?

OTIS

TRIBE Member
I'm headin' on a road trip soon and I wanna exchange some cash into USD. Anyone know of good places to exchange the cash without being killed with service fees?
 

xsre

TRIBE Member
Yah. Thomas' downtown is great as is Fleishman's or Feinstein's or whatever their name is in the ground floor of Commerce Court.
 

Jennika

TRIBE Member
when you're traveling you'll get a much better rate on your credit card than exchanging money. so exchange as little as possible and charge as much as possible.

that said, the bank is offering ~1.32 today for buying, we got ~1.29 for selling US.
 
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Vote Quimby

TRIBE Member
CIBC has bank machines that will allow you to withdraw US$ out of your C$ account. No fees. Just whatever exchange rate they are charging for the day.
 
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xsre

TRIBE Member
Brett, you should know that the bank is certainly NOT the best place to exchange money. THey charge high service fees...sometimes over the recommended 4% (recommended by the Bank of Canada) - Royal charges about 10%, actually.

Where's Commerce Court? It's downtown in the financial district. Call them at (416) 861-3475 to find out exactly where they are (I know it's along the PATH somewhere, around King st, I just am not 100% sure which building it's in).
 

SneakyPete

TRIBE Member
^^I still have the receipt from the last time I did currency exchange. It was from Nov 24, 2003, the rate they charged me at was 1.299, and the Band of Canada rate on that day was 1.3206, about 1.7% difference.
 

Vote Quimby

TRIBE Member
Last time I exchanged, there was a minimal difference bteween the bank's rate and the Bank of Canada. And no fees.

Commerce Court is at Bay and King.
 

AdRiaN

TRIBE Member
Those foreign exchange outlets only have one source of revenue to pay for their overhead and other operating expenses, so I can't see how they could offer a better deal than a bank.
 

chipotle

Well-Known TRIBEr
some banks charge a fee and some others just make money off the actually exchange rate itself and plus a small fee. so they sell "da money" for lower than it is worthand thus they make a higher profit.

go to your bank branch first and see.

the bank of canada 4% cash charge is just an estimate I believe... like an estimate of a scope that other banks might charge within. they might go as high as 4% or lower, i believe.
 
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OTIS

TRIBE Member
I'm with PC banking, do you think I can go to a CIBC to exchange it?

I'll check out Financial Court also.
 

Vote Quimby

TRIBE Member
Originally posted by OTIS
I'm with PC banking, do you think I can go to a CIBC to exchange it?

I'll check out Financial Court also.
You should be able to. PC financial is Amicus bank which is CIBC. Just ask about using their currency ATM's. Or stick your card in and see what it tells you.
 
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MARCin

TRIBE Member
speaking of currecny exchange, anyone know where can i exchange kuwait's currency? i've got 20 dinars that i'd like to get exchanged, but i've yet to find a place that deals with more foreign currency..
 

Nesta

TRIBE Member
Originally posted by MARCin
speaking of currecny exchange, anyone know where can i exchange kuwait's currency? i've got 20 dinars that i'd like to get exchanged, but i've yet to find a place that deals with more foreign currency..
see my post above. :)
 

SneakyPete

TRIBE Member
Try your bank. I was able to exchange my leftover Mexican Pesos (about $30 Canadian worth) at my bank. Dinars are more rare, but they might still do it.
 

chipotle

Well-Known TRIBEr
Originally posted by MARCin
speaking of currecny exchange, anyone know where can i exchange kuwait's currency? i've got 20 dinars that i'd like to get exchanged, but i've yet to find a place that deals with more foreign currency..
any bank should be able to do that... but you have to go to their bigger branches and be expected to pay a little bit of a percentage fee because it isn't a common currency.
banks usually charge higher fees for less common currencies.
usually.. but not always the case.
 
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