Foreign Currency
 

Can anyone suggest their favourite place to go for currency exchange. Favourite as in good rates. :) I used to go to Guardian on Yonge and Adelaide area but their rates are worse than Scotia FX now.

I need HKD, Singapore Dollar, Taiwan $, Malaysian ringgit and Japanese Yen

I rarely buy FX here. I just hit a bank machine when I arrive. But if I do need FX, any of the major banks downtown have the common currencies.

I guess what you suggest makes sense evn though TD charges $5 per withdrawal and then another $1.25 at the end of the month for "withdrawing from other ABM". Especially if i withdraw enough.. But if i should lose my card or i forget my PIN, I'm screwed.. haha.. but good idea.. I might just do that
thanks

Not any more if you have an account with TD. The $5 fee for FX went away some time ago (they told me) (It was a rip off anyway).

Strangely enough, Money Marts in downtown had the best rates, with only a small, flat service fee...even for some of the non-standard currencies.

Last year I wanted to have some Yen before I landed in NRT - their rates were only fractionally higher than the official exchange rate, and they charged $2.50 as a flat fee.

Wrong. It still exists. I get dinged with it allll the time./

I use same approach as RCyyz. ATM at destination.

I have a TD Select Service account and find it to be a good value as Plus fees ($5) are waived.

Of course you still get nailed on the FX conversion but I haven't found a way around that anywhere.

The account is $25 per month but they waive that too if you keep a minimum balance. I think all the big banks have a similar account product.

The opportunity cost of having the minimum balance not earning interest is always a consideration but I treat the money as my emergency fund.

Anyhow....getting a bit OT...

I misread. If you go to the bank machine in the other country they will charge you the 5. If you get currency/cash here they won't. Or they haven't the last four or five times I went, and the teller expressly told me that fee was gone.