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Good place to exchange CDN for USD? D/T Toronto (queen / spadina ish)

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  • Jun 18th, 2016 9:10 am
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Member
Jan 18, 2011
384 posts
170 upvotes
Toronto

Good place to exchange CDN for USD? D/T Toronto (queen / spadina ish)

Per the title, curious if anybody has recommendations for where to exchange Canadian $ for USD?
If there's a particular place that gives decent rates compared to banks that'd be solid.
Otherwise, can I just walk into any bank with cash and do an exchange?
9 replies
Member
User avatar
May 23, 2004
206 posts
32 upvotes
I had some clients who used to go to some places around china town. Doesn't hurt to call some places up and ask for the rates. Sorry I don't remember the names but I have seen a few in that area. Otherwise, if only a small amount the difference will be a few bucks if you do it at your bank.
Deal Addict
User avatar
May 13, 2005
2286 posts
1631 upvotes
Toronto
How much money? There's Califorex that's right at the intersection that always has a better rate than banks. They charge a $3.75 flat rate fee IIRC so it's only worth it if you exchange a large sum.

They have a buyback program where they buyback at the same rate you paid for if that's needed
Jr. Member
Jan 8, 2006
152 posts
7 upvotes
+1 for Calforex, I always use them, their rates are usually pretty good. Definitely do not go to a bank.
Deal Addict
Jul 22, 2010
1321 posts
288 upvotes
toronto
siuder wrote: +1 for Calforex, I always use them, their rates are usually pretty good. Definitely do not go to a bank.
I agree one of the best rates I could find.
Deal Fanatic
User avatar
Feb 27, 2015
6972 posts
4953 upvotes
Toronto, ON
When I needed USD for Vegas I used Guardian International Currency. Its just at Yonge & King.

Kantor Currency Exchange isn't bad either, but I found Guardian refreshed their rates more often. Great if you notice the dollar going up throughout the day!
Newbie
Mar 4, 2014
78 posts
30 upvotes
Vancouver
How urgently do you need it and what amounts? I personally use interactive brokers for forex.
Deal Addict
Jan 9, 2011
2207 posts
692 upvotes
Toronto
How secure is calforex? Has anyone done a larger exchange with them? Let's say $50k+?

I am looking to sell USD
Deal Addict
Jul 22, 2010
1321 posts
288 upvotes
toronto
2K6TSX wrote: How secure is calforex? Has anyone done a larger exchange with them? Let's say $50k+?

I am looking to sell USD
Calforex should be secure, but for amounts that large i believe most people recommend XEtrade since you'll be closer to the actual rate. Give them a call just to check they might give you a special deal. Also, if you're willing to sell much smaller amounts let me know =P

Oh another one you might want to look into is: Norbert Gambit
Deal Addict
Nov 18, 2012
1733 posts
727 upvotes
Toronto
How much different between this to the bank rate? 1.5%?
Simple is the best.

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