Vancouver Bullion and Currency Exchange (VBCE) offers foreign exchange and online money transfers. Transfers are fee-free and you can get a sense of exchange rates by visiting the company’s website. The service is relatively competitive with other foreign exchange specialists but can be more expensive than some dedicated online money transfer services.
Available currencies
Vancouver Bullion and Currency Exchange allows you to send money to over 70 countries from your bank account. You can send most major currencies, including:
USD US dollar
GBP British pound
EUR Euro
AUD Australian dollar
CNY Chinese yuan
RUB Russian ruble
CHF Swiss franc
INR Indian rupee
VBCE also carries over 100 foreign currencies on location for exchange purposes.
What types of transfers can you make with VBCE?
You can make both personal and business transfers through the company’s handy online platform, but it doesn’t appear to have forex options like forward contracts or limit orders, which would allow you to lock in a favourable exchange rate for the future. You’re also only able to send money if you plan to make at least four transfers annually.
You can send funds directly to your recipient’s bank account so long as you know their banking information, including bank name, account number and SWIFT or IBAN code.
How long does a transfer with VBCE take?
Transfer times can vary based on what currency you’re sending. Typically, it takes around 1-3 business days for your transfer to arrive.
What payment methods does VBCE accept?
You can pay for your money transfer with cash, debit card (for Canadian banks only), or bank drafts payable to VBCE.
Transfers typically take
1-3 business days
Is VBCE safe to use?
Security and regulation: Physical and electronic security measures in place.
Established: 1989
Country
Regulated by
Canada
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)
How does Vancouver Bullion and Currency Exchange make money?
Vancouver Bullion and Currency Exchange makes its money by charging a spread on the exchange rate. Transfers are fee-free and exchange rates should be listed on the company website. For the most part, rates are competitive with other foreign exchange specialists but you could end up paying more for transfers than with a dedicated online money transfer service.
How to register an account
You can register for a money transfer account online or by visiting one of their three kiosks in Vancouver. To register online, you’ll need to provide your personal and banking details. Once you’re all set up, you’ll be able to send transfers through their online platform.
What is Vancouver Bullion and Currency Exchange?
Vancouver Bullion and Currency Exchange is primarily a foreign currency exchange, but also offers online personal and business money transfers. It operates three locations in Vancouver.
In a nutshell
Pros
Transparent rates. You can find rates for online money transfers and foreign exchange on the company’s website.
Zero fees. You won’t need to pay extra fees on top of your transfer.
Foreign exchange. There are over 100 currencies available for exchange.
Buyback guarantee. VBCE will buy back any foreign currency that you don’t end up using.
Cons
Poor exchange rates. You’ll pay a larger margin on the exchange rate than with a specialist money transfer service.
Takes longer. It can take up to three business days for your recipient to receive their funds.
Limited in-store locations. There are only three locations in Vancouver, but VBCE can service clients from across Canada with its online transfer platform.
Minimum of four transfers per year. You can only open an account if you agree to make at least four transfers annually.
How does VBCE compare to other providers?
Vancouver Bullion and Currency Exchange is just one among many banks and specialist companies offering international money transfers.
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
No. Money transfers are carried out through VBCE’s online platform but there’s no app.
Its exchange rates are competitive when compared to the bank, but not against many other specialist money transfer services. It doesn’t charge any fees.
Claire Horwood is a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, and an Associate’s Degree in Science from Camosun College. Much of Claire’s coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. In her spare time, Claire enjoys rock climbing, travelling and drinking inordinate amounts of coffee.
If you’re looking for a secure way to send money overseas, an international bank draft could be for you — but if speed is important, consider using a money transfer service instead.
Read our review of OFX and see if it’s right for your next international money transfer.
Feedback
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
