Help! Where to exchange CAD in Toronto for ISK, Euro, GBP

I've got 600 EUR on me; failing that, I've heard good things about Kantor, though they're not in the downtown area.

Inakaru wrote: ↑ Hi. I'm flying to Europe next week thanks to a few flight deals. Looking to exchange some CAD to ISK, Euro, GBP.

I'd prefer the location to be somewhere downtown Toronto.

Any help would be appreciated!

Try the BST forum. Someone probably has excess cash that you can exchange for the exact rate with no margin.

ISK might be a tough one though. You might even have to order it, which means you should get to a currency exchange sooner rather than later.

You don't really need ISK. People in Iceland use credit cards for everything, even for buying a pack of gum.

Talamasca wrote: ↑ You don't really need ISK. People in Iceland use credit cards for everything, even for buying a pack of gum.

While I'm not disputing the accuracy of this information, I think the OP should still get a bit of cash.
What happens if he arrives at the airport and there's a big network failure, so he can't pay a cab to get to his destination?

Jucius Maximus wrote: ↑ While I'm not disputing the accuracy of this information, I think the OP should still get a bit of cash.
What happens if he arrives at the airport and there's a big network failure, so he can't pay a cab to get to his destination?

Every time this has happened to me - rarely - they just took an old school swipe of the credit card. No guarantee they would have the swipe papers on hand but they could also phone in the numbers to their dispatch.

Alternatively maybe s/he could pay in US dollars or Euros. Or even CAD$. I recall a while ago some locals wanting to switch to the CAD dollar for Iceland’s currency.

https://www.google.ca/amp/s/business.fi ... loonie/amp

Plus, I don’t think most Canadian forex would have ISK on hand anyway. So in a pinch s/he could get a small amount at the airport after arrival.

But yeah, it may be prudent to get a little ISK just in case.

didn't get ISK until i got to Iceland last time. And after the trip i didn't spend any of it. everything was through credit card.

More and more in Europe I was seeing places only accepting credit cards and no cash at all.

Money Exchange World has ISK readily available. Also you can withdraw from the machine at KEF airport and in Reykjavik.

Raggie wrote: ↑ Money Exchange World has ISK readily available. Also you can withdraw from the machine at KEF airport and in Reykjavik.

Is this machine before or after customs?

Jucius Maximus wrote: ↑ Is this machine before or after customs?

From looking at their airport map, both.

cardle wrote: ↑ More and more in Europe I was seeing places only accepting credit cards and no cash at all.

It's slowly starting to emerge here too. There's an ice cream shop at Square One in Mississauga that only accepts electronic payment.

Talamasca wrote: ↑ It's slowly starting to emerge here too. There's an ice cream shop at Square One in Mississauga that only accepts electronic payment.

I can understand the sentiment of this post. And it's logical.
But I will almost always get some cash. This is because I've been through travel when things did not go right, I was alone, could have been in a lot of trouble, etc. So I think of backup plans for everything. And cash is always the ultimate contingency.

At least the OP is visiting a civilized place like Iceland. If you travel in a less developed place, and get into trouble, it changes how you think. Permanently.

cardle wrote: ↑ More and more in Europe I was seeing places only accepting credit cards and no cash at all.

It varies widely within Europe. Cash is becoming quite marginalized in Sweden, but is still king in Germany.

Thanks all. Yeah I'm bringing my credit card w/ me and will use that vs. cash every opportunity I can. Just need cash as a contingency (and don't plan on exchanging much).

In all m travels over the years, I have never gotten local currency beforehand. I have always waited until I arrive and take out money from the ATM at the airport...never had a problem. I always have US cash though for emergencies. For my upcoming trip to Iceland I will not even bother doing that - plan to use credit card. I recently got a card with no foreign transaction fees so I would save some of the bank fees.

hierophant wrote: ↑ In all m travels over the years, I have never gotten local currency beforehand. I have always waited until I arrive and take out money from the ATM at the airport...never had a problem. I always have US cash though for emergencies. For my upcoming trip to Iceland I will not even bother doing that - plan to use credit card. I recently got a card with no foreign transaction fees so I would save some of the bank fees.

You have not traveled enough. Don't count on every place to have ATMs working 24/7 for your CCs, sometimes some ATMs break, some don't accept your CCs, or don't have English displays for you to know what to press, or have enough local currencies to dispense. Not all airports have currency exchange places open 24/7, waiting for your arrival.

A couple of years ago when we arrived IST, we wanted get some more euros at the airport ATM. There was network problems and none of the ATMs world work with our Canadian CCs. Fortunately we did already have both Euros and Turkish Liras, and we were able to later get more from ATMs near the Grand Bazzar.

Even in a well developed country like Japan, many tourist attractions or shops don't accept CC's and only cash - Japanese yens.

It's better to be prepared than be sorry.

Don't buy ISK in Canada, even you find an exchange office that carries it. The rates are atrocious here.
Since you'll be carrying EUR, just exchange some of your EUR at a bank once you get to Iceland if needed. Many service industries esp taxis and hotels will also accept Euros anyway, if you're not paying by card.

Arrgh wrote: ↑ You have not traveled enough. Don't count on every place to have ATMs working 24/7 for your CCs, sometimes some ATMs break, some don't accept your CCs, or don't have English displays for you to know what to press, or have enough local currencies to dispense. Not all airports have currency exchange places open 24/7, waiting for your arrival.

A couple of years ago when we arrived IST, we wanted get some more euros at the airport ATM. There was network problems and none of the ATMs world work with our Canadian CCs. Fortunately we did already have both Euros and Turkish Liras, and we were able to later get more from ATMs near the Grand Bazzar.

Even in a well developed country like Japan, many tourist attractions or shops don't accept CC's and only cash - Japanese yens.

It's better to be prepared than be sorry.

I've travelled to 60+ countries, many in the developing world ...but thanks for judging and assuming. Almost everyone will take US$ in case there are any problems with ATMs or CC or you can't exchange US$ - I've yet to encounter a problem taking out local currencies upon arrival. As backup I always take extra CC, debit card and US$. I also use common sense and do some research especially if I'm arriving late at night.

hierophant wrote: ↑
I've travelled to 60+ countries, many in the developing world ...but thanks for judging and assuming. Almost everyone will take US$ in case there are any problems with ATMs or CC or you can't exchange US$ - I've yet to encounter a problem taking out local currencies upon arrival. As backup I always take extra CC, debit card and US$. I also use common sense and do some research especially if I'm arriving late at night.

Many places in the world don't take US$. You haven't traveled enough. After you do, you'll learn.