Toronto Pearson Airport Currency Exchange: Save on Rates & Fees
CIBC counters in Terminal 1 and Terminal 3 charge 8% to 12% over real market rates. The UP Express train connects Terminal 1 directly to downtown Toronto in 25 minutes, where Currency Mart exchanges cash with zero fees on USD/CAD.
Quick comparison: Terminal kiosks vs. downtown rates
Foreign exchange booths at Toronto Pearson Airport (YYZ) are operated by CIBC across Terminals 1 and 3. Because airport concessions pay high terminal rents, their buy and sell rates run 8% to 12% wider than the interbank rate. Exchanging $1,000 USD at the airport costs about $80 to $120 in markup alone. Downtown exchanges like Currency Mart operate on a 0.5% to 1.5% margin ($5 to $15). Even after a $12.50 UP Express ticket into Union Station, you keep roughly $77 more on $1,000 USD, and over $400 on $5,000.
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Rate markup comparison: Pearson Airport vs. Currency Mart
Airport booths widen the gap between buy and sell prices to pay for terminal space. Here is how that markup affects typical cash conversions.
| Comparison Metric | Pearson Airport Kiosks (CIBC) | Currency Mart Downtown (120 Adelaide St W) |
|---|---|---|
| Exchange Rate Markup | 8% to 12% above mid-market | 0.5% to 1.5% above mid-market |
| Exchanging $1,000 USD | Margin cost: $80 to $120 | Margin cost: $5 to $15 |
| Exchanging $5,000 USD | Margin cost: $400 to $600 | Margin cost: $25 to $75 |
| Service and Transaction Fees | Varies by counter, up to $10 | $0 on USD/CAD, $3.75 flat fee on other pairs |
| Available Currencies | Mainly USD, EUR, GBP | 70+ global currencies in physical stock |
Calculations reflect average retail margins observed at Pearson international departure and arrivals counters compared with downtown counter rates.
Where to find currency exchange in Terminal 1 and Terminal 3
If you need small cash right off the plane for a taxi or a quick bite, here is where CIBC exchange desks are located at Pearson:
- Terminal 1: Counters are on Level 3 (departures, before and after security) and Level 1 (arrivals, outside baggage claim). Multi-currency ATMs are also near departure gates.
- Terminal 3: Kiosks are positioned on the departures level near check-in rows and on the arrivals level near international baggage claim. (If arriving at Terminal 3, take the free Terminal Link train to Terminal 1 to connect to the UP Express).
- Hours of Operation: Most airport desks open by 5:00 AM and close around 11:00 PM to midnight depending on airline arrival schedules.
A practical rule of thumb: exchange only $20 to $50 at the airport for immediate transit needs, and exchange the rest downtown where margins are much tighter.
Transit directions from Pearson via UP Express
The Union Pearson Express connects Pearson Airport to downtown Toronto in 25 minutes. A one-way ticket is $12.50.
- 1 Head to the UP Express station inside Terminal 1 (Level 1). From Terminal 3, take the free 2-minute Terminal Link train. Trains leave every 15 minutes.
- 2 Ride 25 minutes to Union Station. Tap your credit card, debit card, or Presto card directly at the fare gate ($12.50 adult fare).
- 3 At Union Station, follow signs into the underground PATH walkway heading north toward the Financial District.
- 4 Walk directly into 120 Adelaide St W (Richmond-Adelaide Centre). Currency Mart is on the concourse food court level at Unit R7, right by the ramp.
Net Savings Example ($1,000 USD)
Converting $1,000 USD to Canadian dollars:
On higher volumes such as $5,000 USD or EUR, travelers save over $400 CAD, easily covering return airport transit and dining downtown.
UP Express Details
Departure point: Pearson Terminal 1, Level 1
Service frequency: Trains run every 15 minutes
Transit time: 25 minutes to Union Station
One-way adult fare: $12.50 (tap debit, credit, or Presto)
Operating schedule: 5:30 AM to 12:30 AM daily
Toronto PATH Walkway Map
The walk from Union Station to Currency Mart is entirely indoors through the climate-controlled PATH network. Follow signs toward Richmond-Adelaide Centre.
Current Counter Exchange Rates
Compare live downtown cash rates against typical airport quotes.
Live Exchange Rate
The rate can only be guaranteed at the time of transaction.
WARNING: Inventory is constantly changing.
Exchange Rate Comparison with Canadian Banks
Live Rate Comparison
Updated 8 am Weekday — Next refresh in 5:00| Currency | Currency Mart exchange | RBC bank | TD bank | BMO bank | Scotia bank |
|---|---|---|---|---|---|
| Loading rates… | |||||
Buy rate by default — CAD per 1 unit of foreign currency. Green = best rate, red = worst.
47,000+ Customers
200,000+ Transactions
300 Million+ Exchanged
Branch Information
Monday - Wednesday: 8:30 am - 4:30 pm
Thursday - Friday: 8:30 am - 4:30 pm
torontopath@currencymart.net
Customer Reviews
Based on 117 Google Reviews
Super fast super efficient . Better rates than most of the other names in Toronto DT/ financial district. Location was a bit of a find, but the person over the phone was super responsive and helpful.
$3.75 fee for each currency. Not useful if you have small changes from overseas travel.
Great place to exchange currency! I’ve came here to exchange GBP, Brazilian rials, Chilean peso, Mexican peso etc, and I’ve been given great rates and great service every time!
Frequently asked questions about airport currency exchange
Exchanging Foreign Cash in Toronto? Visit Us Downtown
Save up to 10% on your cash exchange by taking the 25-minute train from Terminal 1 into Union Station. Call ahead or visit our PATH counter Monday through Friday.
120 Adelaide St W, Suite R7, Toronto, ON M5H 1T1 • Richmond-Adelaide Centre PATH • Monday to Friday 8:30 AM to 4:30 PM