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Thursday - Friday: 8:30 am - 7:00 pm
Saturday: 10:00 am - 3:30 pm
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Chart below shows a list of currency exchange me when you are at near major interactions of Toronto.
Parking is $3.50 for 30 minutes. Walk into a steel door beside pay station at P1 level, labeled as PATH. Walk straight through the Sheraton Hotel and keep walking straight to Richmond-Adelaide Centre. We are on the other side of the food court, beside a handicap ramp.
Parking Entrance at 100 Queen St. W.
PATH Entrance inside Parking P1 Level
Walk Straight Through Shearton Hotel
Richmond-Adelaide Centre in PATH
About 2 minutes walk. Walking into the building of 110 Adelaide St. W., take the escalator from the lobby down to Toronto PATH. Turn right at Rexalll drug store and walk stright to foot court. We are inside the food court, beside a handicap ramp.
About 1 minutes walk. Walking into the building of 120 Adelaide St. W., take the escalator behind the security desk down to Toronto PATH, we are 6 shops away on your right hand side, beside a handicap ramp.
About 1 minutes walk. Walking into the building of 130 Adelaide St. W., take the escalator from the lobby down to Toronto PATH. Turn left at Rexall drug store and walk stright to foot court. We are inside the food court, beside a handicap ramp.
About 1 minutes walk. Walking into the building of 85 Richmond St. W., take the escalator down to Toronto PATH, we are on the other side of the food court beside a handicap ramp.
Currency exchange is changing one currency to another for the purpose of travel, purchase or investment. According to a study of Bank for International Settlements, daily average was more than $6 trillion trading volume. Currency Mart acts as a counter-party to an off-exchange or an over-the-counter forex transaction of cash, financial instruments, futures contracts, options on futures contracts. Currency exchange is a decentralized market and operates 24 hours per day around the globe. London, New York and Tokyo are the three major currency exchange markets and followed by cities of Hong Kong and Singapore. Decentralized market means each currency exchange broker offers its own buy in and sell out exchange rates. The rates are determined based on the demand, inventory and supply of the particular dealer and also the interbank rates at that moment. That is why exchange rates at the same moment are similar, but different broker to broker.
Annually, about $600 billion Canadian dollars exchanged to other currencies, over 50% is changed to US dollar and Euro dollar is the second most wanted currency. RBC is the major player in Canadian foreign exchange market. With the other four major banks, banks count 90% of market transaction volume. In addition to banks, large corporations who deal with petroleum or grains conduct massive amount of foreign exchange transactions. Licensed brokers who serve retail clients and small businesses fill up the rest of market gap.
The demand of currency exchange in Toronto is mainly from manufacturing activities, because most manufacturing business sell their products to United States and get paid by us dollars. In addition, purchasing property, vehicle, pay tutition and travel expense are supplements of the currency exchange market in Toronto. In fact, the amount of exchanging USD to CAD is much more than exchanging CAD to USD.
Exchange rate is updated every 5 minutes, 24 hours a day, 7 days per week. Each exchange rate comes with 2 expressions, which express the same rate in 2 different ways. Each expression is 4 digits accuracy.
USD CAD exchange is the most important trading currency pair in Canada. The particular currency pair can count up to 50% of transaction volumn for a Canadian urrency exchangec broker. For some province, the precentage is even higher. Currency Mart as a currency exchange dealer, we always keep USD currency in stock for customers demand.
Exchange money from a reputable foreign exchange dealer is a way to same money, but the drawback is customers need to find out which foreign exchange dealer is a money saver. This is a little bit easy for people in their own city, but when people in their travel destination city, the answer is not that obvious. Here is a few tips how to find a reputable foreign exchange dealer.
Those foreign exchange kiosks in airports, hotels, and tourist hotspots target tourist as customers and offer convenient but expensive foreign exchange solution. For exchange amount over $500, avoid those kiosks is a better option.
Google search is really accruate. The No. 1 foreign exchange dealer in the search result is usually the best in that area. Please watch for "ad" symbol, becasue the result with "ad" symbol is a paid search result, not from generic ranking.
Google review is a really useful information tool to let you know the dealer before deal with them. Please read through reviews, especially the negative reviews. Some reviews are faked by business owners but are so easy to identified. The scenario of generic review is so rare, so you can tell this was real happened when you read it.
Talk to the dealer which you would like to deal with. Get the answers about exchange rate, payment accepted, denominations available.
Currency Exchange Toronto Downtown Currency Mart is about 2 blocks west of Yonge and Adelaide, right at the interaction of York and Adelaide.
Located at the center of Toronto financial core, Currency Exchange Toronto Downtown Currency Mart services people who works in office building north of the Union Station, west of Yonge St., east of University Ave. and south of Dundas St.
In addition to working population, our downtown location also the first choice for residents of waterfront community, west of University Ave.
Most customers from this area are working populations in the fields of finaace, law, accounting.
From a few hundreds to a few thousands.
Currency Exchange Toronto Downtown Currency Mart is about 2 blocks west, 1 block south of Eaton Shopping Centre, right at the interaction of York and Adelaide.
Located at the center of Toronto financial core, Currency Exchange Toronto Downtown Currency Mart services people who visit Toronto downtown.
Tourists
Up to a few hundreds.
Currency Exchange Toronto Downtown Currency Mart is about 2 blocks south of Yonge and Dundas, 2 blocks west of Yonge and Adelaide.
Located in Richmond-Adelaide Centre, Currency Exchange Toronto Downtown Currency Mart services tourist who shop near Eaton Shopping Centre area.
In addition to tourists, our downtown location also the first choice for residents of Yonge St.
Most customers from this area are tourists and mixed with some working people, local residents and international students
A few hundreds
Currency Exchange Toronto Downtown Currency Mart is about 3 blocks south of Yonge and College, 2 blocks west of Yonge and Adelaide.
International students are our major customers. We are on their way between school and home.
Most customers from this area are international students
A few thousands.
Currency Exchange Toronto Downtown Currency Mart is about 4 blocks south of Yonge and College, 2 blocks west of Yonge and Adelaide.
Most customers from this area are local residents
Thousands to 100K
Currency Exchange Toronto Downtown Currency Mart is about 5 blocks south of Yonge and College, 2 blocks west of Yonge and Adelaide.
There is no currency exchange business establishment in this area. The best option is toronto downtown and the closest option is Yonge and Bloor
Most customers from this area are local residents.
Thousands to 100K
Calling each foreign exchange dealer in Toronto and asking for a quote will find you the best exchange rate in Toronto.
Yes, all branches of local banks and credit unions offer currency exchange services, however there are a few things to pay attention to.
Banks and credit unions only deal with customers who have accounts with them. For small amounts under $100, airport and shopping mall foreign exchange kiosks and hotel front desks are acceptable, even the exchange rate is terrible and fees are high, but really convenient.
For amounts over $1000, it is worth calling each surrounding foreign exchange dealers to find out who offers the best exchange rates.Some well known foreign exchange dealers are:
How much do banks charge for currency exchange Canada?
In general, banks may mark up the currency exchange rate up to 8% for their retail customers with small amounts of exchange plus the flat amount processing fee, such as $5. These markup and fee vary from bank to bank and branch to branch.
Generally speaking, banks with large branch networks charge more and banks with fewer branches, and credit unions offer exchange rates better than banks.
Yes, all branches of local banks and credit unions offer currency exchange services, however there are a few things to pay attention to.
All banks and credit unions offer currency exchange service, but the drawbacks are usually bank branches do not keep foreign currency cash in stock and also the exchange rate branches offer less favorable for customers.
Beside banks and credit unions, there are a few non financial institution currency exchange dealers in Toronto. Most their locations are in Toronto downtown or the international airport.
These non financial institution foreign exchange dealers try to distinguish their services to others so they do not directly complete with each other.
Farmers are the main customers of all currency exchange dealers in Toronto. Farmers trade huge amount of currency in spring to purchase supply and in fall after selling their harvest.
Business owners such as auto dealers, trading companies and restaurants, as well as hotels. These type of businesses either accumulate huge amount of foreign currency during daily operation or need to make large purchase and pay in foreign currency.
New immigrants bring in their savings of their whole life to Canada. Also, most new immigrants need to make a large purchase during their first 2 years, a house. That is why the currency exchange demand for new immigrants is huge
International students spends their 5 years of best life in Toronto. They bring in about $30,000 a year per person to Toronto.
Canadians who are planning to purchase a property in overseas for their retire life.
Travelers make small amount exchange, but the huge number of visitors makes the businesses still attractive for currency exchange dealers.
All banks and credit unions offer currency exchange services, but these branches do not keep Euro dollar in stock. Customers need to order with them and pick it up 3 - 5 days later.
Both Currency Mart Toronto downtown and Toronto North York keep Euro cash in stock all the time for the convenience of customer.
From the exchange rate point of view, HSBC Canada offers the best currency exchange rate amount all banks in Canada.
From the exchange rate point of view, in general, the exchange rate in the morning is better than afternoon, beginning of each week is better than near the end of the week.
Please try to have your foreign currency exchanged about 1 week before your departure date.
If the leftover foreign currency is bill, you can still take the bills to local banks or currency exchange dealers.
Most likely, no one takes care leftover foreign coins.
Please try to have your foreign currency exchanged about 1 week before your departure date.
We suggest you to exchange currency a few days before you departure. The reason is you have time to compare and shop around. In addition, Currency Mart can purchase back 30% of your purchase back in 30 days at the same exchange rate printed on the receipt.
Currency exchange dealers try to carry as many currencies as possible, but the supply and the fluctuating currency exchange rates limit our capability. As a currency exchange dealer, United State dollar and Euro dollar are mush have currencies. In addition, some currencies, such as Mexican peso and currencies for other sunshine destination are must have for winter season. To sum up, we try to carry all European country currencies all year around and travel destination country currencies in winter. Please check our currency list for details.
On average, our trade amount is around $700 Canadian dollar per transaction. This amount can be doubled if you travel to US or other European countries and can be reduced to half if you travel to developing countries.