Want to exchange CAD for USD? Get the best Toronto Currency Exchange rates

You work hard, so make sure to get the most out of your money at better rates than top banks. If you’re looking for the best places to exchange currency in Toronto, try Remitbee!

Remitbee Logo

Transparency is our top priority: compare our rates with other Toronto currency exchange services!

We’re confident in our competitive exchange rates. Want to test our claim? Use our CAD to USD currency converter to see how much more you’ll save compared to your favourite bank or currency exchange service.

We know that it is important that you have fair fees when it comes to foreign currency exchange needs, so we’ve made it our top priority to stay away from charging high fees.

CE_images_32_859380f868
If any of the following apply to you, Remitbee online currency exchange may be a good fit:

You are working in Canada and get paid in US dollars:

It’s becoming more common to work for a U.S. company while living in Canada. If you’re a freelancer or contracted at an American company, you want to make sure you avoid unfair rates and fees when exchanging currency.

For context, you could be losing about $2,000 in currency exchange fees if you make 50k salary a year, and use currency exchange services through your bank.

01

You buy US stocks:

If you’re interested in investing and buying US stocks in Canada, you need to check out other options when it comes to exchanging currency.

With Remitbee currency exchange, you can get the most out of your trading. Questrate, which is a popular option for those converting CAD to USD, charges 1.5-1.99%. However, Remitbee Currency Exchange charges you zero fees.

Once you start to invest in the thousands, you could be losing a ton of money just on fees alone! For example: Consider the following compared to Questrade fees:
- $1000 worth of US stocks: You could be losing about $40 CAD.
- $50,000 worth of US stocks: You could be losing about $2,000 CAD

02

You are paying tuition abroad as a Canadian or American paying tuition:

If you live in Canada as an American or the USA as a Canadian, you’ll need to exchange USD to CAD or vice versa in order to pay tuition. In Canada, the average tuition fees for international students was $32,019, as of 2020.

If you choose a more traditional method to exchange currency like your bank, you could potentially be losing out on about $1200 USD per year.

03

You purchase property in Canada or the USA:

If you are investing in properties across the border, or simply have a home in the other country, you’ll want to make sure you are losing out.

In 2020, the average house in Canada cost about 531,000 CAD. Using Remitbee currency exchange could allow you to save over $9,000 USD; much more than you would save from bank currency exchange services.

04

Why should you choose Remitbee for Toronto currency exchange?

Save more than at an average bank

Since many people are not aware of the unfair fees banks impose, they lose out on their hard-earned money! We make sure to give you the real exchange rate, which can be found by easily searching ‘USD to CAD’ in Google!

No Fees!

Not only do we have competitive rates, but we also charge $0 in fees if you exchange a minimum of $10!

We’re Canadian

We’re based out of the GTA, and regulated and audited by FINTRAC, so your money is always protected. Security is just as important to us as it is to you!

Have questions or comments? We’d love to help!

We’ve worked hard to make sure our customer service is the best of the best. We’re here to help with whatever you need, plus we have great reviews on Trustpilot and Google!

Convert money from anywhere in Toronto!

You can now exchange currency from the comfort of your own home, or on the go! With our 100% online service, your money can be exchanged securely using data encryption, hassle-free!

We’re also partnered with all top Canadian banks so that you can send your money as easily and swiftly as possible.

assorted_bills

How to exchange currency in Toronto:

With Remitbee you need to pass different tiers of verification to be able to send higher amounts of money. To increase your sending limits you will need to provide your personal information and upload certain documents.

Step 1. Create your free account: Create an account by clicking here.

Step 2. Verify it’s you: We need to verify it’s you to keep your identity safe!

Step 3. Exchange: Input the amount and currency pair you’d like to exchange.

Step 4. Connect your Canadian bank account: Connect the bank account that you want to deposit your CAD into or pay CAD with.

Step 5. Connect your US bank account: Connect the bank account you want to deposit your USD into or pay USD with.

Step 6. Confirm your exchange: The money will be exchanged automatically and then deposited!

More about currency exchange in Toronto

There are many existing currency exchange services in Toronto. Located downtown Toronto at the Eaton’s centre is Calforex Currency Exchange, and Interchange Financial Currency Exchange is located further south near the Beaches. Just outside Union station is Firma Foreign Exchange, which is located very conveniently in the city.

There are also a few other currency exchange companies that operate in Toronto. Knightsbridge Foreign Exchange Inc, TaheriExchange, and Kantor Currency Exchange all operate out of Toronto. On top of strictly currency exchange services, all major Canadian banks have branches located in different areas of Toronto!

However, Remitbee’s unique service and $0 fee for currency exchanges make it a great option for those wanting to save money when they exchange. Trey Remitbee today!

https://prodmtes.blob.core.windows.net/strapi/uploads/CE_images_31_69c07cbeee.png

It gets even better: we offer money transfers in Canada to order 50 destinations!

If you need to transfer money, we’re your service! If you send more than $500 CAD, your transfer is free! Send to over 50 destinations, including the Philippines, Sri Lanka, India, and Pakistan. If you’re sending less than $500, we charge a small fee of $2.99 when using Interac, or $2.99-$6.99 when you use Debit. If you want to compare your options, check out our fee calculator. Remitbee has been recognized as one of the top FinTech companies in the area by Toronto Finance in 2019! We offer very competitive rates, low fees, and fast transfer times that make us a great choice when you need to send or exchange money.

assorted_flags