Approximate rates for comparison purposes — actual rates vary daily.
Save up to
$48.91USD
No-FX card vs. airport exchange on $1,000
On a $5,000 trip
$244.55USD saved
That's real money back in your pocket
Exchange method comparison
How much USD you'd receive for $1,000 CAD through each method
| Method | You Receive | Cost/Fee | You Lose |
|---|---|---|---|
Mid-market rate (baseline) The real exchange rate with no markup | $730.00 | $0 | $0 |
No-FX-fee credit card Visa/MC wholesale rate, ~0.3% spread | $727.81 | 0.3% | $2.19 |
Bank exchange (branch) ~2.5% markup on the mid-market rate | $711.75 | 2.5% | $18.25 |
ATM abroad (with FX fee) 2.5% FX fee + $5 ATM surcharge | $708.10 | 2.5% + $5 | $21.90 |
Airport exchange ~7% markup on the mid-market rate | $678.90 | 7% | $51.10 |
Hotel front desk ~10% markup — the worst common option | $657.00 | 10% | $73.00 |
You could lose up to $73.00 USD by using the wrong exchange method on $1,000 CAD.
What you receive (USD)
Tips for saving on currency exchange
Get a no-FX-fee credit card before your trip
Cards like the Brim Mastercard or Scotiabank Passport Visa eliminate foreign transaction fees entirely. Check our credit guide for more.
Always decline Dynamic Currency Conversion (DCC)
When a terminal abroad asks if you want to pay in CAD, always say no. DCC uses a terrible rate and adds a hidden 3-5% markup. Always pay in the local currency.
Withdraw larger amounts less often from ATMs
Each ATM withdrawal may incur a flat fee ($3-7). Withdrawing fewer, larger amounts minimizes the per-dollar cost of those fees.
Order currency from your bank 3-5 days before departure
Bank branch rates are much better than airport kiosks. Order ahead to get the branch rate and have cash ready for arrival.