Please ensure Javascript is enabled for purposes of website accessibility

Saving Money on Foreign Currency Exchange

Here are some tips to help you save money on foreign currency exchange:

Compare exchange rates: Different currency exchange providers may offer different rates, so it’s a good idea to compare rates from multiple providers before making a transaction.

Be aware of your credit cards’ foreign transaction fees: Many credit cards charge a fee for foreign transactions, so try to use a credit card that waives these fees.

Use Travel Cards: Using travel cards will allow you to hold foreign currency on your card at a locked in rate that will not fluctuate.  This card is usually a prepaid can be used at most outlets (please check with your travel card provider)

Consider using online currency exchange providers: Online currency exchange providers can offer competitive exchange rates and lower fees compared to traditional brick-and-mortar exchange providers.

Avoid dynamic currency conversion: Dynamic currency conversion is when a merchant offers to convert your purchase into your home currency at the point of sale. However, this option usually comes with unfavourable exchange rates and additional fees, so it’s best to decline it and pay in the local currency instead.

Keep track of exchange rates: Exchange rates can fluctuate, so it’s important to keep track of them and exchange your currency when the rate is favourable. You can use online tools to track exchange rates and set up rate alerts.


Skip to toolbar