a lot of people wouldnt ask, either. She feels its important to ask if the business has enough cash on hand in the currency you want to exchange. In my case I only have 460 euros which is about 736 Canadian dollars so this exercise might end up being somewhat academic since Im not going to put a lot of effort just to save. It might however be beneficial to know how to get better rates in case I want to convert larger amounts in the future. If you dont have time to exchange money before you leave, remember that withdrawing cash from an ATM in a foreign country is more expensive. Your bank might not give you the best rate, and as Tony Tighe reports, the currency exchange business is very competitive.
As a result of a recent trip, I have a number of euros that I wanted to convert to Canadian dollars. Then I called Thomas Cook and got a sell rate.509 which only nets me 694.14 which.62 less than cibc. Watch above: If youre heading to warmer climates this winter, make sure you shop around before exchanging your Canadian money. Is it worth even discussing for smaller (ie less than 5k) amounts? The best thing to do is phone around for rates before you leave; plan in advance, Brown said. But oftentimes, thats not the case, Magee said.