Best places to exchange currency in Toronto

Always check with the person at the till which currencies they will accept for travel money purchases. Most in-person currency exchanges will buy and sell major currencies, like US Dollars.

If you’d rather have peace of mind when travelling, consider ordering a Wise travel card. You can spend using the card or Google / Apple Pay; plus Wise’s exchange rates and fees can be a lot cheaper than getting your travel money from a currency exchange shop.

Before you pick the right Toronto currency exchange option for your needs, do a little shopping around. Compare the available options, looking at the costs involved, how safe they are, and what customers say about them.

When considering costs make sure you check both the exchange rate and the fees charged. It's common for services to state there's no commission, when the costs have simply been added into the exchange rate being used.

Double check safety by picking a reputable and licensed provider. If you're exchanging money at a major bank you can rest assured it's licensed. If you're using physical currency exchange stores it's worth asking how they're regulated - and with online providers you can usually find everything you need in a footnote on the website, including licensing details.

Finally, ask around for personal recommendations from friends and family in Toronto, and use online resources like Google reviews and Trustpilot to make sure previous customers are positive about any service you might pick.

Exchange rates change a lot, based on the demand in global markets. That means that there's no best time for currency exchange, but tracking the market can certainly help you spot a good deal when one becomes available.

Keep an eye on the mid-market rate for your currency, using any of our handy tools, and watch how it's changing over time. It's also possible to set up rate alerts online which can help you learn when a rate hits the level you're looking for. If you're planning on converting cash - or if you have a travel money card - you can lock in the rate by buying your foreign currency at that point.

No matter how good a deal you think you're getting, be sure you're picking a safe and reputable provider for your exchange. If it sounds too good to be true it probably is.

There are a few different ways you might want to currency in Toronto. You could head to a bank, choose a physical currency exchange service, or go for an online option.

There are also some great travel money cards from providers like Wise which allow you to order a card online or in an app, top up remotely, and spend or make withdrawals overseas easily. Travel money cards are secure and often offer better exchange rates and lower overall costs compared to switching currency at the airport or in a physical location in your destination.

Use this guide to figure out which currency exchange in Toronto might be best for you, and don't forget to also take a look at travel money cards to see if popping one in your wallet can help you save.