GUELPH: Currency Exchange (1-877-355-5239)

Whether you’re a long standing resident of Guelph or just travelling through the area, the community provides a range of financial services that are on par with most major cities. If you’re seeking to exchange foreign currency, there’s no need to drive into Toronto for this service. In terms of providers, both the major Canadian banks and dedicated third-party exchange bureaus offer FX within Guelph’s limits, or in neighboring Kitchener-Waterloo. Before you drive straight to a nearby branch of your local bank, it may be worth learning a bit more about the foreign exchange industry.

As digitalization improves and informational barriers start reducing, many bank-dependant individuals are discovering that their own banks charge unreasonable rates for basic services. From setting maintenance fees on savings accounts to charging for simple bank activities like withdrawals, the banks have historically gotten away with issuing tons of unnecessary costs. Especially when it comes to currency conversions, many individuals go to their bank without giving it a second thought.  Most individuals, regardless of their industry knowledge, understand that some airport FX booths charge outrageous exchange rates in order to profit off unsuspecting travelers. From our experience, many banks do precisely the same thing but it just goes widely unnoticed. There’s never been an easier time in history to become properly informed on foreign exchange. Allow us to help you receive the best rates on US dollars in Guelph, Ontario.

Places in Guelph Where You Could Find CAD to USD Conversions

Guelph is not a large city by any means, but there are still a few local currency exchange services with most of them being physical cash businesses. Cash transaction companies in Guelph also include the big Canadian banks and all other independent currency brokers. A good rule of thumb to follow is that banks generally charge the most for their exchange rates, while independent specialized brokers tend to provide the cheapest way to exchange Canadian to US dollars (and other tradable currencies for that matter). At the end of the day, it is most important to choose a provider that satisfies your requirements and gives you peace of mind during the transaction. That is why it is essential to perform your own research and due diligence to see which providers will work best for you, while simultaneously considering cost versus convenience. Some things to think about include timeline of transaction, ease of use, level of service, online reviews, overall reputation, and consumer experiences. These things can be found in online forums such as www.redflagdeals.com, Google reviews, and contacting a company’s service representatives directly.

The Ideal Way to Exchange Various Currencies in Guelph

Taking your business to a qualified foreign currency exchange can save you dozens or even hundreds of dollars. At Knightsbridge Foreign Exchange, we focus exclusively on providing individuals and businesses with foreign currency exchange services at a fair price. In fact, our rates regularly beat the costs that you’ll pay at your own bank. Compared with the average Canadian financial institution, our rates can save you 1% more at the very minimum. If you’re considering one of the major banks for currency exchange, such as RBC or ScotiaBank, we’ll typically save you up to 2.5%. On larger exchanges, those percentages can add up to real dollars and cents.

Currency exchange is a straightforward commodity service – it shouldn’t be marketed as something that needs to come with high fees. However, many major banks use the service as a means of making a little extra revenue, which helps them cover high overhead costs that get cultivated by their hundreds of business expenses. If you’re already in the lobby of your own bank, you may be tempted to just exchange your money there. However, that’s exactly what major banks count on. Instead, we suggest you shop around and constantly compare rates online. Call up your bank and ask for their rates, and then call us for our rates – the answer will surprise you! We’re confident it will end up being worth your time.