Where to Find the Cheapest Currency Exchange in Montreal

MONTREAL - Dec. 16, 2016 - PRLog -- The volatility of the Canadian dollar has them looking for the most affordable rate to convert their currency into US dollars.

Most would start by visiting their local "big five" bank, however their rates have a significant mark up. Montrealers should consider converting their currency at Knightsbridge Foreign Exchange, an online private exchange firm that offers a cheaper alternative.

"The banks have an oligopoly and don't compete on price, we are keeping them honest and helping Canadians save," said Rahim Madhajvi, president of Knightsbridge FX. "This is because banks typically charge 2-3% more for what's known as a conversion fee, which is basically a service charge to cover the cost of doing business at the retail level. It's basically free money, why give your hard-earned money away to the banks?"

Tips for finding the cheapest currency exchange in Montreal:

-          Buy currency in bulk – the more currency you exchange, the higher the savings, as volume discounts are typically available at private firms. Next time you plan to head over the border, consider large lump conversions rather than frequent small conversions.

-          Don't exchange currency at the airport – Airport foreign exchange kiosks have high margins and expensive overhead. The reason they are able to charge more is because of the convenience they provide to travellers needing to exchange currency at the last minute.

About Knightsbridge Foreign Exchange

Knightsbridge Foreign Exchange provides better than bank currency exchange rates to Canadians looking to buy or sell US dollars. Knightsbridge Foreign Exchange review's traditional bank exchange rates every morning and ensures its exchange rates are better. For more information, please visit http://www.knightsbridgefx.com (http://www.knightsbridgefx.com/currency-exchange-montreal/).

Media Contact

Rahim Madhavji | Knightsbridge Foreign Exchange

Phone: 416-479-0834 or 1-877-355-5239