The Best Way to Exchange Money in Canada

You are travelling in Canada and you are looking to exchange your euros, U.S. dollars, or your Russian rubles into Canadian dollars. Whether it is it to take advantage of your stronger currency or to be able to pay cash at different stores or restaurants, there are a few outlets that will take your home currency and exchange it for Canadian dollars.

Instructions

Exchange Money at the Bank

1. Go to the nearest bank branch in Canada. There are five main big banks in Canada and you can look for their branches in different cities in Canada:

   Royal Bank of Canada
   Toronto-Dominion Bank
   Bank of Nova Scotia
   Canadian Imperial Bank of Commerce
   Bank of Montreal

2. Tell the bank teller that you need Canadian currency and say which currency you are trading from.

3. Ask what the current exchange rate and service fee are. Service fees may be different from one bank to another.

4. Receive your Canadian dollars.

Exchange Money at a Private Forex Office

1. Go to a private forex (foreign exchange) currency-exchange office.

2. Tell the teller that you need to change your foreign money for Canadian money.

3. Ask what the current foreign exchange rate is and ask how much the service fee is. Service fees may differ from one agency to another.

4. Receive your Canadian dollars.

Tips & Warnings

• Shop around at different banks and forex currency-exchange offices for the best rates and lowest service fees.

References

• RBC currency exchange rate
• Calforex