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Best places to exchange currency in Montreal

Find the best deal on Canadian cash for your next trip.

Updated

Whether you’re hiking up Mount Royal, exploring the Notre-Dame Basilica or filling up on poutine and smoked meat in one of the many local French eateries, chances are you’re going to need some cash for your stay in Montreal.

Who can exchange my money in Montreal?

Globex2000 logo

1. Globex 2000

Globex 2000 offers six spots to exchange your cash in Montreal, including three locations downtown. You can reserve currencies ahead of time by booking online. Be sure to check ahead if you plan on visiting on Saturday or Sunday, since several locations are closed or have modified hours on weekends.

YAP.cx logo

2. YAP.cx

YAP.cx offers foreign and local currencies as well as bitcoin exchange, and can be found right across from the Notre-Dame Basilica and Place d’Armes in the city centre. YAP is open for business every day, including weekends, but make sure that you bring cash, because it’s the only way you can pay at the moment.

Universal Currency Exchange

3. Universal Currency Exchange

This place is conveniently located in the underground floor of an office/hotel building in Old Town. It’s closed on weekends, but open every other day of the week.


Tips for getting the best deal when exchanging money

  • Shop online for foreign currency. Most agents have a calculator on their websites to help you figure out how much your currency will net you in Canadian dollars or vice versa. Surf the net to dig up the best deals before you head to your nearest exchange agent.
  • Know the mid-market rate. Use Google or Reuters to see what the mid-market rate is so that you can spot the companies charging the best margin.
  • Pay with a bank transfer or cash. Avoid paying for your currency with a debit or credit card where possible, as you might be dinged for a cash advance, which could leave you with a 2 – 5% charge on your next bank statement.
  • Avoid using ATMs. ATMs are convenient and tempting, especially if you’re in a rush — but they’re also expensive. Try to exchange your currency in advance to avoid high bank fees and dismal exchange rates.
  • Steer clear from airport vendors. If you need cash before you hit the airport, plan ahead by buying currency at home to avoid high prices.
  • Ask for a price match. If you’ve found a better deal online or at another kiosk, don’t be afraid to barter. There’s no harm in trying and you might even walk out with a better deal.

Compare money transfer services

If you need to send local currency to or from Canada, an international money transfer service can help. Our table below lets you compare fees and exchange rates for reputable money transfer specialists operating out of Canada.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 1,000 1 - 2 days USD 0.00 1.318 CAD 6,591 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
$1 Same day USD 0.00 1.326 CAD 6,628 XE offers fast transfers with no fees and a range of foreign currency tools. Go to site Show details
$1 1 - 2 days USD 40.00 1.332 CAD
6,604
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
$1 Within an hour USD 3.99 1.326 CAD 6,624 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
$50 1 - 2 days USD 0.00 1.324 CAD 6,618 InstaReM offers quick and simple international money transfers with the ability to earn loyalty points. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Bottom line

Getting Canadian cash at an exchange company in Montreal can get you a better deal than you’d see at an airport or ATM. But for the best deal on foreign currency, do your research before you leave home, and consider using an international money transfer company if you need to get money to someone else.

Picture: Shutterstock

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