What’s the best way to convert your currency into Canadian dollars?

Whether you’re exchanging Euros, US dollars, Китайский юань, or another currency, it depends on how much money you’re moving.

For smaller purchases, convenience is key. Make your purchase using a credit or debit card, and the currency exchange is automatic. Banks and credit card companies typically charge currency exchange fees of 2% в 3%.

For larger purchases such as buying a car or a home, or for recurring payments for tuition, аренду, or a mortgage, you can save a lot of money by finding a low exchange rate. It pays to shop around for a better rate.

You can exchange currency at banks and at foreign exchange (“forex”) or money transfer services. Online currency exchange services generally have better rates due to their higher volumes and lower costs.

Some currency exchange services charge a commission. Others are commission-free, и вместо того, чтобы сделать свои деньги с более высокими показателями. Commission-free isn’t necessarily better; what matters is сколько денег вы получите от обмена. Например:

	КОМПАНИЯ X	КОМПАНИЯ Y
Сумма к бирже	1000 Евро	1000 Евро
Валютный курс	1.410	1.510
Комиссия	ОТСУТСТВУЕТ	$10 CAD
Вы Получать	$1410.00 CAD	$1500.00 CAD

Tips for saving money on Canadian currency exchange:

• Обменять свои деньги в Канаде or via a reputable online service.
• Avoid exchanges in airports, train stations, или гостиницы.
• Замените большие объемы to get more favorable rates and save on commissions.
• Follow currency exchange trends ко времени свой обмен.
• Request a quote прежде чем сделать обмен.
• Use an online currency exchange service to get the best rate.

Фото Рик (Flickr)