Currency Exchange in Montreal: Best Banks and Service Providers

Currency Exchange in Montreal
Home » International Money Transfer » Currency Exchange in Montreal: Best Banks and Service Providers

There are a number of foreign exchange companies in Montreal which offer great deals to its customers. Students too find it profitable to approach these companies as they have easy access via online and offline modes and provide several monetary benefits. 

Students engaged in educational pursuits in Montreal must know a few things before going for exchange like, which shops to visit and even how currency exchange rates are calculated. There are a large number of exchange shops in Montreal where you can find the currency as CAD written for exchange. If you need to know where to exchange your currency for the Canadian Dollar this blog is for you!

Best Currency Exchange Shops in Montreal

Although it’s better to follow the above tips for best exchange and least loss yet it is found that many people still find it easy to carry cash and exchange it in that city. Under such circumstances, one needs to be wise and check how much the middle market charges.

The following are some exchange services offering companies in Montreal.

YAP Exchange

Yap Exchange is the best country exchange bureau in Montreal. It provides the best exchange with just a $2 CAD fee for all transactions. Yap Exchange is located at 86 Notre Dame St W, Montreal QC H2Y 1S6. It is open all six days from Monday to Saturday from 9 am to 6 pm.

Globex 2000

The Globex 2000 is another global currency exchange centre located at different places in Montreal. It is an FX provider that ensures even a buy-back guarantee for unused currency.

A foreign country student taking education from Montreal can reserve the currency online and pick it up from one of the many locations.

Some of its currency exchange offices are

  • 455 Rue St. Catherine O, Montreal, Québec H3B 1B1 which is open from 10 am to 6 pm from Monday to Friday and 11 am to 5 pm on Saturday.
  • 1336 ave. Greene, Westmount QC., H3Z 2B1 which is open from 10 am to 6 pm from Monday to Friday and 11 am to 5 pm on Saturday.
  • 2089 Boul Marcel Laurin, Saint Laurent, Québec H4R 1K4 which is open from 10 am to 6 pm from Monday to Friday and 11 am to 5 pm on Saturday.
  • Globex 2000 is thus the most convenient place and their service is prompt. The staff is bilingual, friendly, knowledgeable, and courteous.

Also Read: Having a gap after higher studies for entrance preparations or career building? Check out the details about obtaining a gap certificate for an education loan.

Sharif Exchange Montreal

The Money Exchange is located at 261, Boulevard de la Côte-Vertu Ville St-Laurent, Quebec H4N 1C8. The Sharif offers some of the best exchange rates in Montreal and is open from Monday to Friday from 10 am to 5 pm and closed on weekends. One may contact them online to reserve the currency and then collect from the site. The friendly and knowledgeable staff make them the most desired foreign currency exchange service centre and are always serving and placing the customers’ interest as a priority.

Calforex

The Calforex is another well-acknowledged name among the students who visit Montreal for educational programs. It is located in two places, one location being the heart of downtown and another is the Carrefour Laval shopping mall. The former is open from Monday to Friday from 9 am to 6 pm and Saturday and Sunday from 10 am to 6 pm while the latter’s opening times from Monday to Wednesday are 10 am to 6 pm and on Saturday and Sunday from 10 am to 5 pm. Calforex offers over 100 currency exchange and cash buyback programs.

Seven Money Exchange

Another well-known name for currency exchange in Montreal, Canada is the Seven Money Exchange. The Centre is located at 1917 Saint-Catherine St W, Montreal, Quebec H3H 1M3, Canada. Students enrolled in various colleges in Montreal, Canada can visit the exchange to get a fast and prompt exchange of their currency. They do not entertain online appointments The Seven Money Exchange is open from Monday to Friday from 9:30 am to 6:30 pm and on Saturday from 10 am to 3:30 pm. Engaged in buying and selling more than 40 currencies, the Seven Money are courteous and fast in their delivering the service and are liked by both foreigners and the locals nearby.

NOUR FX Currency Exchange

The NOUR FX currency exchange has spread its wings to various countries and is also a well-known name in Montreal Canada. They provide rate alerts via text, offer zero commission and fee and ensure the availability of even small denominations in currency. Located at various places in Montreal, the NOUR FX has spread its wings abroad. Some suitable locations and timings are as follows:

Sauvé / Acadie
(541)334-6502
1805 Rue Sauvé Ouest
H4N 3B8
Montreal
Monday – Friday 9:30 — 18:30
Saturday 9:30 — 15:00
Sunday Closed
Saint Michel
(514)388-0006
8880 Boul. Saint Michel
H1Z 3G4
Montreal
Monday – Friday 9:30 — 18:00
Saturday 9:30 — 15:00
Sunday Closed

Also Read: Check here all about TD Bank Global Transfer: Limits, Fees, Time, & Exchange Rates.

Knightsbridge Currency Exchange

The Knightsbridge Currency Exchange Company offers diverse services to the residents of Montreal. They also offer currency exchange to international students currently residing in Montreal. They help to conduct bulk transactions regularly. They offer exchange rates and help the students save their money.

The Knightsbridge FX is securely regulated by FINTRAC and offers the best rate guarantee along with quick delivery of funds. They transfer money on the same day. There is transparency of funds with proper receipts and convenience of booking.

An international student may contact them over the phone or visit them at

200 McGill College Ave #1100
Montreal, Quebec
H3B 4G7 

Union Mondiale Currency Exchange

  • The Union Mondiale Currency Exchange has over thirty years of experience in the currency industry. They have the lowest exchange rates to offer to foreign students at zero commission and have no hidden fees. Union Montreal Currency Exchange is located at 1855 Rue Sainte-Catherine Ouest, Montréal, QC, H3H 1M2 and is open from Monday to Friday from 10 am to 6 pm and on Saturday from 11 am to 5 pm.
  • Students opting to study in Montreal, Canada can reach the exchange and get their currency transferred within minutes. Besides this, they also provide other financial services.

Tips for the best exchange

The students need to look for companies or shops to avoid excessive exchange charges and to get the best deals. Time is another factor to be considered with currency exchange. It takes hardly any time for the genuine shops to exchange the currency provided you have sorted out the notes and currency coins beforehand. The following points should be further remembered:

Zero Fee Service can be a Trap

Some shops and companies attract students and foreigners with their zero-fee service. These are merely ways to lure the customer and these companies do not reveal the mid-market rates resulting in hidden profits behind the transactions.

The National Exchange Rate Must be Read Beforehand

Students going abroad or to Canada for education generally do not bother to know the market rate for the day before the exchange. The National Forex Index reveals these rates and can be had with the click of a button. Prior knowledge can prevent others from cheating you. 

Avoid Exchanging Money at Airports or in Hotels

Currency A student should plan his travel to avoid the last-moment rush where he makes the mistake of getting his currency exchanged at the Airport or in the Hotel. These areas usually offer low exchange rates and high fees.

Use ATMs Strategically

Students going to Montreal for higher education should be well-informed about the ATM transaction method. They should find out whether their local bank has a partnership with the Canadian Bank or not. This will help them avoid the extra ATM fee. They should also inform the bank before they travel to Montreal, Canada. When a student uses an ATM in Montreal, Canada then he must choose to be charged in Canadian dollars only.

FAQs

Where is the best place to exchange money in Montreal, Canada?

Globex 2000, NOUR FX Currency Exchange, and YAP Exchange are some of the best places to exchange money in Montreal, Canada.

Can a student exchange money at the Airport?

Yes, the international Airport has seven different kiosks and is a convenient place to exchange currency. However, you might have to pay extra as there is a poor exchange rate compared to the private currency exchange places.

Should a foreign student exchange currency before reaching Montreal?

A foreign student has to arrange for a lot of things from bags to baggage to college fees and housing etc. It is a must to therefore exchange currency to get smooth services from the different avenues on reaching Montreal.

What benefits should one look for in currency exchange?

The amount of money equivalent should be maximum and the time consumed minimum.

Shall I exchange currency in my home country or abroad?

It is good to exchange currency at home. However, carrying cash abroad might be difficult and with a proper research and strategy, exchanging currency abroad won’t be much difficult.

To know more about currencies, education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.

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