Currency exchange rate comparison

Bank Exchange Rates

1 USD = CAD

Live market exchange rate
updated 5 minutes ago

$
USD

Note: These prices are estimates of each institution’s current pricing based on live market prices and scraping of data from publicly available information on the internet. Users should confirm these estimates by checking each institution’s website or visiting in person. Prices are delayed by 5 minutes.

Banks Currency Exchange & Conversion Rates

Canada has one of the most concentrated banking markets in the world. As a result, because there is a lack of sufficient competition for currency exchange services from banks and therefore you are not likely to get the best exchange rate possible from your bank.

better rates than the banks

Availability

There is also the issue availability. Interchange Financial always has any amount available in cash or electronically (account to account) for you to pick up or trade within your own accounts whenever you want.  With the banks, you have to order ahead of time.

So, by introducing competition into the market place, Interchange Financial has been able to thrive for the last 20 years by providing Canadians with better exchange rates than bank exchange rates.  How do you know your foreign exchange company is reliable.  Below are some pointers and this link has a more detailed assessment:

  • Make sure they physical locations.
  • Make sure they offer both online trading capability as well as cash.
  • Make sure they are allowing you to see prices live and book online yourself.

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