Does anyone knows where to exchange US $ without getting rip off by banks?

pro123

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Oct 11, 2006
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I have to buy quite a bit of US $ for Money Transfer and bank normally charge about 3% profit taking. Can anyone suggest where to exchange for smaller fees like 1% or so? Thanks.
 
Jun 11, 2007
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Theres a money exchange in the Bramalea City Centre, upper level by the Best Buy. Bought Mexican Pesos there last winter, and the rate is slightly better than the bank.
 

Hip

Active member
Mar 1, 2011
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Are you exchanging a lot? LIke thousands? If so then there are brokers who will come to your door. Try KanTor. They have 2 locations in Toronto and 1 in Brampton.
 

buttercup

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Feb 28, 2005
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Join me in launching a class-action lawsuit, in which we categorize bank commission on exchange as stealing. A small service fee, ok -- but commission! - how can that not be theft? It's our own money -- but that doesn't seem to be the bank's view!

Until that happy day, you could open a us dollar account at your bank. if you have us dollars coming in, problem solved. But even if you do need to make exchange transfers, you might be able to negotiate a lower rate for the occasional large transfer, rather than several small ones. same with euros, if you need that.
 

red

you must be fk'n kid'g me
Nov 13, 2001
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I have to buy quite a bit of US $ for Money Transfer and bank normally charge about 3% profit taking. Can anyone suggest where to exchange for smaller fees like 1% or so? Thanks.
if you don't want to be ripped by a bank- i could rip you off.
 

Hangman

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Aug 6, 2003
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Join me in launching a class-action lawsuit, in which we categorize bank commission on exchange as stealing. A small service fee, ok -- but commission! - how can that not be theft? It's our own money -- but that doesn't seem to be the bank's view!

Until that happy day, you could open a us dollar account at your bank. if you have us dollars coming in, problem solved. But even if you do need to make exchange transfers, you might be able to negotiate a lower rate for the occasional large transfer, rather than several small ones. same with euros, if you need that.
LOL.."Theft". Its not theft because it is the cost that is clearly cmmunicated. They have a product, say, Canadian dollars, that they will sell you for a certain amount in American dollars. They don't care what other people may charge you, that's their price. So how, precisely, is that theft?
 
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