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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.

Seeing the sights in Toronto shouldn’t be interrupted by having to visit ATMs to snag some cash. Instead, visit a currency exchange office or order Canadian dollars ahead of time so you can spend more time at the CN Tower or enjoying delicacies at the St. Lawrence Market.

Where can I 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. Or, order cash online for pickup later. It’s open seven days a week and also offers a currency buyback program.

Wall Street Finance logo

2. Wall Street Finance

You’ll find this exchange store on Yonge Street in the heart of downtown, open six days a week. 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

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
OFX
24 hours
$0

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OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Dunbridge Financial
Dunbridge Financial
24 hours
$0

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Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
CurrencyTransfer
24 hours
$0
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

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Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE
Within minutes
$3

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XE has fast transfers with low fees and a range of foreign currency tools.
WorldRemit
Within an hour
From $1.99

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WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise)
Within an hour
From $2.26

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Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Instarem
Within an hour
$1

View details
Exclusive: Use code GET60 and save $30 on each transaction over $200. Valid for the first two transactions and till 31st July 2021. T&Cs apply.
Instarem offers zero transfer fees on all transfers.
Remitly
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

View details
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Western Union
Within an hour
From $0

View details
Western Union sends money online to friends and family in 200+ countries around the world.
MoneyGram
Within an hour
From $0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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Compare up to 4 providers

Bottom line

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

Picture: Shutterstock

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