Foreign Currency
Jul 16, 2010, 11:57 am
#1
Original Poster
Join Date: Feb 2009
Location: YYZ
Programs: Aeroplan, Air Miles
Posts: 942
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 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
Jul 17, 2010, 10:01 am
#2
Join Date: Dec 2007
Location: Body in Downtown YYZ, heart and mind elsewhere
Programs: UA 50K, refugee from AC E50K, Marriott Lifetime Plat
Posts: 5,133
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.
Jul 19, 2010, 11:18 am
#3
Original Poster
Join Date: Feb 2009
Location: YYZ
Programs: Aeroplan, Air Miles
Posts: 942
thanks
Jul 26, 2010, 7:32 pm
#4
Join Date: Jul 2008
Location: YYZ
Programs: Hilton Gold Mariott Gold Aeroplan E25K SAS Gold NEXUS
Posts: 1,308
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
thanks
Jan 27, 2011, 8:29 am
#5
Join Date: Jun 2009
Location: YYZ
Programs: AC E; Marriott Platinum
Posts: 2,409
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.
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.
Jan 27, 2011, 9:11 am
#6
Join Date: Nov 2008
Location: YYC
Programs: Hilton Diamond, Fairmont Plat, IHG Spire, SPG Gold, WS Gold, Hertz PC, National E Elite,
Posts: 2,771
Jan 27, 2011, 8:24 pm
#7
Join Date: Feb 2005
Location: DCA
Programs: Aeroplan Canada (25k), Hyatt (Globalist), Marriott (Platinum)
Posts: 193
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 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...
Jan 30, 2011, 12:54 pm
#8
Join Date: Jul 2008
Location: YYZ
Programs: Hilton Gold Mariott Gold Aeroplan E25K SAS Gold NEXUS
Posts: 1,308
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.