Common Ways to Exchange Dollars in Penticton

If you’re looking to exchange your currency, but don’t know where you can find providers of currency exchange in Penticton, then you have 3 main options to choose from: independent third party providers, chain FX franchises, and banks. These 3 types of currency conversion services make up the majority of options to reliably exchange your dollars. Each one comes with their own inherent pros and cons, so it’s crucial to read up on each one. Every individual has their own financial needs, goals and comfort level.

Currency exchange, as a competitive service, can be ranked by weighing convenience versus cost. If you’re not interested in saving money at all, and would rather just have a quick and easy conversion, you might as well go to the banks. You will for sure pay higher FX premiums with your primary bank, but if you’re only transacting small amounts it should be alright. However, if you’re really after the cheapest currency exchange in Penticton, your answer should be none other than Knightsbridge Foreign Exchange.

Not everybody is confident making financial service inquiries with companies that aren’t their bank, but Knightsbridge FX combines ease, comfort and security with great exchange rates, making it the ideal option for currency exchange in Penticton. Keep in mind that digital foreign exchange brokers have only been around for a few decades. Since it is a relatively new service, let us remove your doubts – call us today and ask for a free quote on our rates!

Kelowna International Airport FX near Penticton

Some people may think the most effective method of currency exchange in Penticton would be to wait until they get to the airport. While that’s certainly convenient, that option is certainly not cost-efficient. If you absolutely need to do so, the nearest major airport to Penticton is Kelowna International Airport. Like all other airports, the foreign exchange kiosks found inside have extremely have rent fees, meaning that you will not find the best foreign money exchange rates near Penticton by travelling to the airport.

Airports know that customers will use them regardless, so they tend to markup their rates higher than most so they can stay profitable whilst making up for the cost of leasing airport space. So, we would highly recommend avoiding the bank and the airport if your goal is to get the best currency exchange rates in Penticton. Currency exchange tip: airports rely on last-minute exchangers, so make sure you book a currency conversion or money transfer well before your plane departs.

Foreign Exchange at Penticton Hotels

For those looking for alternative providers of currency exchange in Penticton, you may find public kiosks while walking around in public areas like malls, tourist zones, and hotel lobbies. Seeing as they are classified as physical retail locations, these businesses will still have expense factors influencing their exchange rates despite their smaller size. This makes it unlikely you’ll find the best USD exchange rates in Penticton, especially since you often pay a premium to receive physical cash. Sometimes brokers will offer rates that seem too good to be true, so it’s important for you to do research if they’re a company or provider you’ve never heard of.

The first red flag you can easily spot is if they don’t require you to submit any personal identification documents. It’s a Canadian government regulation for all exchange providers to require I.D. So, if they don’t, you know right away they aren’t to be trusted and you should go somewhere else, even if they claim to offer really good rates. Never bring your foreign exchange inquiries to shady companies that do not value your personal or financial security.

Foreign Exchange at the Big Banks in Penticton

The majority of the consumer base for currency exchange in Penticton uses the bank, which may lead to some inevitable wrongful thinking. Many individuals believe that because banks are so large, and service so many customers, that they have the best exchange rates. Unfortunately this couldn’t be any farther from the truth. What these individuals may not know is that the banks don’t use the base exchange rates you may see on the news or online, which is called the mid market rate.

Banks and credit unions use an inflated rate, generally more expensive by a margin of 3%. It would be extremely rare to find the best foreign money exchange rates in Penticton at the bank, so we would only recommend using them out of convenience. As we’ve mentioned earlier, if you’re more inclined to book small conversions for convenience, then the banks are a decent choice. But on larger orders you can really benefit from a better exchange rate.

Penticton’s Independent Currency Exchange Brokers

Independent and franchised providers of currency exchange in Penticton are always trying to find new and innovative ways to bring in customers. After all, we compete for a much more condensed market share than the banks do. Among others, the three main ways companies do this is by offering lower rates based on how much money is exchanged, offering installed or delayed payment plans, and by eliminating service charges and fees.

Knightsbridge Foreign Exchange provides the best foreign money exchange rates in Penticton and doesn’t ask you for any hidden fees or service charges. At KnightsbridgeFX, you only pay the exchange rate quoted. We accomplish this by keeping our overhead low through an online business model, allowing us to pass our great currency savings on to you. We have complete and absolute confidence that we have Penticton’s best currency exchange rates.

Where to Get Penticton’s Most Affordable Currency Exchange

We’re so confident we have the best currency exchange rates in Penticton because we know that Knightsbridge Foreign Exchange customers save an average of 1-2% compared to the leading banks. And since we transfer your money electronically, we don’t charge you the premium necessary to get physical cash in-hand. For a mathematical representation, exchanging $50,000 at rate that’s 2% better will save you $1000! By switching to Knightsbridge FX, not only would you get the best exchange rates on USD and other major currencies in Penticton, but you’ll also get the easiest and most convenient online conversion process.

You just have choose where the money goes, and we will do the rest for you. This means that you could even pick it up at the bank if that’s what you prefer. KnightsbridgeFX has established good relationships with Canadian banks, so we’re able to wire funds directly into your bank account. If you need more convincing, simply call your bank for an exchange rate, then call us for the same currency, and you’ll be able to witness first-hand that Knightsbridge FX is the top destination for currency exchange in Penticton.

Penticton, British Columbia: History

Penticton is a city of about 43,000 people in the Okanagan Valley of British Columbia. Its name is derived from the Okanagan language and references the year-round flow of the Okanagan Lake that flows through the city. The Sylix, a First Nations group (Okanagan people) was the initial founders of the area, and they labeled early Penticton as an ideal place to settle down in. In 1866, the first international settlers arrived – more specifically, Thomas Ellis and his family inhabited the area. Initially, the Okanagan area and Penticton served as a frontier for fruit tree plantation and cattle agriculture. Today, Penticton is very much a modernized city much like other southern Canadian municipalities.

If you need to exchange currency regularly, then you know just how important a fair and reliable provider is. We want to be that for you, so we invite you to call us at 1-877-355-5329 to walk you through our process, with a no-obligation quote, and show you just how easy it is to use Knightsbridge Foreign Exchange. You can also apply online for an easy application process.

TRIVIA QUIZ FACTS FOR PENTINCTON, BC

• Duncan Keith, defensive hockey player for the Chicago Blackhawks, made his teenage career start for the Penticton Panthers
• Penticton is famous for having delicious fresh peaches, and hosts the annual Penticton Peach Festival
• The Okanagan area (including Penticton) is known for producing great vineyards, and so Penticton has the Okanagan Wine Festival each year
• The city also has a dedicated water aerodrome called the Penticton Water Aerodrome
• Bob Nicholson, CEO of the Edmonton Oilers hockey team until the year 2014, grew up playing hockey in Penticton

To find other cities serviced by Knightsbridge please visit the Currency Exchange in Canada page.