Foreign exchange has always been an issue for many people in Canada mostly people who shop in the US or make a number of online purchases from retailers who are based in the US. The bank of Canada usually poses the rates of the current cash exchange in their website which is a good thing because you are able to get an idea of how much it is you are actually going to get. It is also important that you get to review your various exchange options before settling for anything so that you are able to get one that will suit you best.
Canadian dollar credit cards
When making your online purchases or buying stuff from your online store using a Canadian dollar credit card, it is important that you know that most of this Canadian dollar credit cards charge a very high amount of money for the transaction fees. Therefore, if you do not want to receive any kind of surprise during the end of the month, it is important that you first do your research and get to know how much it is that they are actually charging as transaction fees.
US dollar credit cards
Some people opted for US dollar credit cards especially when it comes to buying of foreign goods that are been offered by US retailers so as to avoid paying for the hefty transactions fees that normally come with the Canadian dollar credit cards.
Banks
Even though banks also charge high amounts of money when it comes to an exchange of money, they are still very popular to most people. On the brighter side, it is important to note that banks are easily accessible not forgetting that they are fast therefore making them very convenient to their users. Banks may be the best option for you especially if you do not have any time to waste or you are not exchanging a large amount of money.
Kiosks or Online currency exchange
There are a number of online businesses and boutique business stores who mainly specialize in foreign exchange around different countries and cities. Online currency exchange companies usually offers their clients better rates as well as deals compared to banks. However, if time is something that you do not have, you may not be able to get one that is conveniently in your location.
ATM machines
If you are in the US already, ATM machines may prove to be very helpful and convenient for you. It is, however, important to note that this ATMs are normally higher in terms of charges especially when it comes to foreign exchange. ATMs should be the last choice especially when it comes to getting access to US dollars.
Canadian dollar credit cards
When making your online purchases or buying stuff from your online store using a Canadian dollar credit card, it is important that you know that most of this Canadian dollar credit cards charge a very high amount of money for the transaction fees. Therefore, if you do not want to receive any kind of surprise during the end of the month, it is important that you first do your research and get to know how much it is that they are actually charging as transaction fees.
US dollar credit cards
Some people opted for US dollar credit cards especially when it comes to buying of foreign goods that are been offered by US retailers so as to avoid paying for the hefty transactions fees that normally come with the Canadian dollar credit cards.
Banks
Even though banks also charge high amounts of money when it comes to an exchange of money, they are still very popular to most people. On the brighter side, it is important to note that banks are easily accessible not forgetting that they are fast therefore making them very convenient to their users. Banks may be the best option for you especially if you do not have any time to waste or you are not exchanging a large amount of money.
Kiosks or Online currency exchange
There are a number of online businesses and boutique business stores who mainly specialize in foreign exchange around different countries and cities. Online currency exchange companies usually offers their clients better rates as well as deals compared to banks. However, if time is something that you do not have, you may not be able to get one that is conveniently in your location.
ATM machines
If you are in the US already, ATM machines may prove to be very helpful and convenient for you. It is, however, important to note that this ATMs are normally higher in terms of charges especially when it comes to foreign exchange. ATMs should be the last choice especially when it comes to getting access to US dollars.