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Best places to exchange currency in Toronto

Get the best deal on cash for your trip to Canada's biggest city.

Claire Horwood

Updated Jul 26, 2019

Whether you’re hiking up the CN Tower, exploring the seasonal gardens of Casa Loma or sampling some local delicacies at the world-renowned St. Lawrence Market, chances are you’re going to need some cash for your stay in Toronto.

So which foreign currency exchange is the best fit for you?

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Exchange my cash Send money overseas

Who can exchange my money in Toronto?

Calforex logo

1. Calforex

Located just north of the Entertainment District in downtown Old Toronto, this money changer has over 100 currencies for sale. You can also order cash online to be picked up later. It’s open seven days a week and also offers a currency buyback program.

Wall Street Finance logo

2. Wall Street Finance

You can find this exchange store on Yonge Street in the heart of downtown, open six days a week. You can exchange currencies for more than 50 countries and pay with cash or debit card in store.

Kantor Currency Exchange logo

3. Kantor Currency Exchange

Kantor’s Toronto Branch can be found on Runnymede Road, close to the metro station. It sells more than 70 currencies and is open all week, except for Sundays.

Tips for getting the best deal when exchanging money

Shop around. It pays to compare your options before you head out the door. Call three to four businesses for quotes or check their rates online to make sure you’re getting the best deal.
Know the interbank rate. Use Google or Reuters to check the mid-market rate, AKA the interbank rate, which is the rate that the banks trade at. Steer clear of companies that aren’t charging something similar.
Opt to pay with cash or bank transfer. Avoid paying with card when you buy foreign currencies. Your bank might ding you for a cash advance, which could cost you 2% to 5% more on your next bank statement.
Avoid ATMs. ATMs charge fees outright and behind-the-scenes, so can end up costing you a lot. It pays to do your homework and find a decent kiosk to exchange your money.
Don’t exchange money at the airport. This is a big no-no. If you need cash before you hit the airport, plan ahead by pre-buying currency at home to avoid high prices.

Compare money transfer services

Similar to foreign currency exchange, an international money transfer is one possible way to send local currency to a loved one overseas.

I want to send

Min. Transfer Amount	Transfer Speed	Online Transfer Fee	Rate	Amount Received	Description	CTA	Details
$2,000	Same day	-	-		XE offers fast transfers with no fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount 2,000.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
GBP 1,000	1 - 2 days	USD 0.00	1.307	CAD 6,537	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	Compare	Show details	Details Minimum transfer amount GBP 1,000.00 Transfer methods Online, Bank Account to Bank Account Transfer options Regular payments, One off payments, Market orders, Forward contracts Customer service Phone, Chat Available currencies AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR Go to site Read the full review
$1	Same day	USD 0.00	1.315	CAD 6,573	XE offers fast transfers with no fees and a range of foreign currency tools.	Go to site	Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online, Phone, Bank Account to Bank Account Transfer options One off payments, Market orders, Forward contracts Customer service Phone, Email Available currencies AED, AMD, AUD, BAM, BBD, BDT, BGN, BHD, BND, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EUR, FJD, GBP, GEL, GTQ, HKD, HNL, HRK, HUF, IDR, ILS, JMD, JOD, JPY, KES, KRW, KWD, KZT, LKR, LSL, MAD, MKD, MUR, MWK, MXN, MYR, NAD, NOK, NZD, OMR, PEN, PGK, PHP, PKR, PLN, PYG, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SZL, THB, TND, TOP, TRY, TTD, TWD, TZS, UGX, USD, VUV, WST, XCD, XPF, ZAR Go to site Read the full review
$0	1 - 2 days	N/A	N/A	N/A	Special offers like free transfers and better exchange rates available for new customers. Quick, affordable transfers around the world with both express and economy options.	Go to site	Compare	Show details	Details Minimum transfer amount 0.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options N/A Customer service Phone, Chat, Email Available currencies ARS, BDT, BGN, BOB, BRL, CLP, CNY, COP, CRC, CZK, DOP, EGP, ETB, EUR, GHS, GTQ, GYD, HNL, HRK, HTG, HUF, IDR, INR, JMD, KES, KMF, KRW, LKR, MAD, MXN, MYR, NGN, NIO, NPR, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, TZS, UGX, USD, UYU, VND, XAF, XOF, ZAR Go to site Read the full review
$1	1 - 2 days	USD 40.00	1.321	CAD 6,550	Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.	Go to site	Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online Transfer options Regular payments, One off payments Customer service Phone, Chat, Email Available currencies AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW Go to site Read the full review
$1	Within an hour	USD 3.99	1.315	CAD 6,570	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	Compare	Show details	Details Minimum transfer amount 1.00 Transfer methods Online, Bank Account to Bank Account, Cash Transfer Transfer options One off payments Customer service Phone, Email Available currencies AED, ALL, AMD, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KYD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN, PYG, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, ZAR, ZMW, BYN Go to site Read the full review
$50	1 - 2 days	USD 0.00	1.313	CAD 6,563	InstaReM offers quick and simple international money transfers with the ability to earn loyalty points.	Go to site	Compare	Show details	Details Minimum transfer amount 50.00 Transfer methods Online, Bank Account to Bank Account Transfer options One off payments Customer service Phone, Chat, Email Available currencies AUD, BDT, CAD, CNY, EUR, GBP, HKD, IDR, INR, KRW, LKR, MXN, MYR, NPR, PHP, PKR, SGD, THB, USD, VND Go to site Read the full review

Compare up to 4 providers

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

Bottom line

If you’re heading to Toronto, you can save money by picking up Canadian dollars at an exchange company with competitive rates. And if you’re staying home and just sending funds to Canada, compare money transfer companies to find the best deal.

Picture: Shutterstock

Thank you for your feedback!

Claire Horwood

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, along with 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. She has also worked extensively in the field of "Blended Finance" with the Canadian government. In her spare time, Claire loves rock climbing, travelling and drinking inordinate amounts of coffee.

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Best places to exchange currency in Toronto