Currency Exchange Ottawa

Call our phone line at (613)-704-1798 for the Ultimate CAD/USD Rates in Canada

Knightsbridge Foreign Exchange

Ottawa’s FX Compared to KnightsbridgeFX

If you’d like to receive the best transfer rates on US dollars, take a glance at our website Knightsbridge Foreign Exchange Ottawa

Alternatively, you could also call 1-877-355-5239 (our toll-free office number) to reach our main department to get a quick free quote on our exchange offerings.

KnightsbridgeFX will get you a better currency exchange rate than the Ottawa banks guaranteed. With KBFX, you can lock-in favorable rates for free and save them for a later transaction. Once you go through with the transfer, you’ll receive written confirmation that details your order. KnightsbridgeFX services all involve zero wire transfer charges, zero fixed transfer fees, and zero hidden costs as long as you transfer over $2000 CAD.

Popular Exchange Sources

% Rate Mark-up

More Information

How Much You Could Save on $10,000 USD by Switching to KBFX




Knightsbridge Foreign Exchange


BMO – Bank of Montreal


BMO Exchange Rates


Scotia – Scotia Bank


Scotia Bank Foreign Exchange Rates




HSBC Foreign Exchange Rates


American Express


AMEX Exchange Rates


RBC – Royal Bank of Canada


RBC Exchange Rates


TD – Toronto Dominion Bank


TD Bank Exchange Rates




CIBC Foreign Exchange Rates




Desjardins Foreign Exchange Rates




PayPal Exchange Rates


*Please understand that these rate markups were retrieved from public sources that were published on different days. There is always the possibility that some or all of this information is outdated. Given the fact that financial institutions constantly change their policies and rates fluctuate basically every day, mark-ups may have increased or decreased. To prevent any stress related to pricing, we highly recommend personally calling the phone numbers of the financial institutions you plan to utilize.

This chart includes a few of the most widely used professional FX services in the Greater Ottawa Area. Most of the ones listed are big Canadian banks while the rest are digitally-oriented companies like PayPal and American Express. Each of these companies has their own rate mark-up which makes their exchange rate more expensive than the mid market rate. Don’t be alarmed – virtually all FX companies include some degree of rate mark-up in their deals. Markups are necessary to keep the business afloat. FX service isn’t free – the markup on the rate (along with any other fees) is the costs you pay for the service. KnightsbridgeFX coincidentally has much fewer expenses to pay for than other large FX providers, so they can afford to hand out better prices. Relatively inexpensive business costs coupled with a willingness to meet customer satisfaction goals, makes KnightsbridgeFX the ideal currency converter.

A Few Situations Where Ottawa Residents Should Convert Currency

Are you thinking about planning a vacation abroad or need to make international payments? No matter what your personal reasons are, foreign money concerns require a foreign exchange service. When you’re searching for the right provider you need to find one that balances customer care, delivery time, and most importantly cost. The greatest factor you should consider when comparing different FX providers is the currency exchange rate. When transferring large sums of money your savings are determined by how favorable the rate is. KnightsbridgeFX takes a new approach to foreign exchange by offering rates that are much better than the traditional banking system. If you live in Ottawa and plan to convert dollars for your own individual needs, you may wish to consider these situations.

  1. You wish to travel south to New York or Vermont for a vacation in the US
  2. You want to dodge the freezing cold Ottawa winter by taking a snowbird trip to Florida
  3. You are trying to plan an international money transfer for relatives and loved ones who reside in a different country
  4. You are thinking about purchasing foreign real estate/property or other international investments
  5. You want to diversify your money by owning US dollars as well as Canadian dollars (cross-border account)

Practical Ways to Contrast Different Exchange Rates in Ottawa

There is a fast and easy method to contrast rates and then there is a slow one that is more thorough. If you’re short on time, let us do the rate hunting for you – you can check our blog to find articles that compare rates from different financial institutions. We’ve already listed a few popular FX service providers in the table at the top of this website if you’d like to view mark-ups side by side.

The second method would be to take matters into your own hands and call every foreign exchange service for their deals. While this option is certainly more tedious and time consuming, it’s the only way to guarantee accurate and complete information because it comes from the source. Customer service representatives at practically all financial institutions are trained to give you a quote within minutes. Make sure inquire about the exchange rate and compare it to the mid market rate so you can get a sense of the mark up. In addition, it’s also worth looking into the company’s FX fee structuring since it might include fixed and variable transfer costs.

The Real Reason Companies Keep Changing Their Rates

Companies almost never have the same rates on a currency pairing day after day. Mid market rates are subject to change based on market forces, and FX providers change their provided rates accordingly. When the world foreign exchange markets are open, currency values will slightly fluctuate. Occasionally, they can enter a sharp uptrend or downtrend. Regardless, they are constantly being traded (similar to the stock market) so prices are not fixed.

Many service providers would opt to keep the same percentage mark-up while the rate itself changes. This means that if they stick to a fixed mark-up of 3% over the going rate, you’ll always pay 3% higher even if the rate makes a drastic shift. In order to illustrate this, assume that the Canadian and US dollars are trading at parity, a 1 for 1 relationship). If a popular foreign exchange service is known to offer a 3% markup, you would pay 1.03 dollars for the other dollar. Let’s say one of the dollars doubles in value against the other dollar, so now it’s trading at a 2 for 1 relationship. With a fixed markup of 3% that never changes, you would pay 2.06 dollars for the other dollar. FX businesses that offer variable markups will often change their markup percentage based on the size of your transfer. This is basically the “more you spend the more you save” incentivize model. Other foreign exchanges that don’t involve fixed or variable markups rely on a tier-rate system. An example of a tier based system would be this: $1000 for a 3% markup, $5000 for a 2.5% markup, and anything exceeding $5000 would net a 2% markup (most savings).

Traditional Bank Rates in Ottawa versus Digital Company Rates

Conventional banks, including every major bank branch within Ottawa city limits, offer non-competitive FX rates to their customers. The primary reason why the big banks charge unfavorable rates is because they can get away with it. The traditional banking system involves a great deal of customer retention, so they know you’ll seek them first for FX services. On top of that they also offer the most financial products out there and have a very long history, so consumers immediately connect the word “bank” to trustworthy. Not only does a large portion of Ottawa residents have an account registered under one of the “big five,” the same bank often takes care of their other financial needs too. Despite the difficulties that stem from competing in the financial industry, numerous third party FX companies have made it their business to out price the banks. Companies like KnightsbridgeFX attempt to give more value to the consumer by providing them with more favorable rates and lower fixed costs. Within the digital-only space, these companies are steadily earning consumer trust and making waves in the financial services industry. While these online-based firms don’t have as long of a history as banks do, they are generally still safe to use as long as they’re backed by financial regulatory standards.

Although we’ve made it seem like bank FX rate markups are entirely uncalled for, they actually do serve purpose besides pure profit. Think about all of the physical bank branches in downtown Ottawa – the conventional banking world needs to recuperate a ton of expenses year round. They can more easily pay off these expenses by overcharging on exchange rates. After all, they have pay for the upkeep and salaries of all brick and mortar locations in addition to their online departments. In other words, while their rates frequently not very competitive, they are not inherently unfair. Digital companies have an edge in terms of operating costs; a good majority doesn’t have any physical branches you could walk into at all. Naturally, this gives smaller companies the ability to pass down their great rates to retail clients.

If you’d like to receive currency exchange rates that are better than your nearest bank branch in Ottawa, you’ll have to search online. Simply by avoiding the FX deals imposed by the banks and choosing digital-only you’ll have a higher savings potential. The best online companies you could go for are the ones that specialize entire in currency conversion and remittances.


Top Five Ways To Exchange Dollars in Canada’s Capital City

#1 Ordering Amounts Under $2000

It’s completely fine to use your primary bank’s FX services if you are trading a few hundred dollars of currency. At that volume, the exchange rate would not hurt your savings as much as the fixed transfer fee does. Prioritizing convenience over savings is very common in these situations, because the most you could save with a better rate is a few dollars. It is the equivalent to simply walking into a bank branch and converting your CAD to USD on the spot and pays a couple of dollars extra just for the convenience. For the most part, the average FX user that transfers only a small amount of currency does so to have a little pocket change when travelling abroad. In these situations the fixed transaction charge has more impact on the total cost than the exchange rate. Wire transfer fees at major banks can be quite significant – and you’ll have to pay them regardless of the order size. So if you’re still prioritizing convenience over dollar efficiency you should look towards whichever bank branch will grant you the lowest transfer fee. When you’re exchanging thousands upon thousands of CAD a competitive rate is very important. Generally speaking, introducing a third party firm to exchange your money is not worth the hassle if you wish to swap one or two hundred dollars.

#2 Ordering Amounts Over $2000

KnightsbridgeFX really shows its value to the consumer when the order size exceeds $2000 Canadian. At this level, the company provides free wire transfers on orders of all sizes past the threshold. Getting a favorable exchange rate at this point is vital, since it can easily net savings into the hundreds of dollars. In these situations siding with online-only companies is much more favorable than the banks strictly in terms of rates. KnightsbridgeFX will save on a margin of up to 2% better than banks, which may not sound like a lot at first but it scales in importance with the order size. For example, if you’re placing a $10,000 transfer order, the 2% saved will place $200 back in your wallet.

#3 Please Do Not Use FX Kiosks At The Ottawa International Airport (YOW)

The foreign exchange booths and kiosks that you can find before taking Ottawa International flights are famous for their notoriety. Many individuals use these services strictly out of convenience, mainly because there are no other options in sight. However, the rate markups are very substantial – and there’s usually a hefty flat transfer charge included as well. If you can afford to wait a day or even a few days to exchange your currency, you’re bound to get a much better deal through digital transactions. If you’re pressed for time and need to use airport kiosks, it happens; in these situations it’s best to minimize the size of your order. Restrict “convenient” kiosk exchanges by only trading for exactly what you need.

#4 Adopt Efficient Payment Methods

Believe it or not, different transfer payment options may result in different overall price points. In most cases, FX service providers will prefer one form of payment over another. This fact becomes increasingly evident when you attempt to pay for exchanges with your credit card. Not only do credit cards have fees to keep it active (such as an annual or monthly fee), they also have built-in rules for currency conversion. Furthermore, different credit card versions and types will greatly vary in these rules. Some credit cards are much more favorable than others for on the go conversion, but these “travel cards” typically come with higher fees. While getting a global credit card is certainly doable, you have to calculate if it fits your individual needs. Ultimately, there’s no point in getting one if you rarely leave the country to travel.

#5 Storing Dollars From Either Side of the Border

Canadians that need to make payments in the United States, and vice versa, are fairly easy to find. Many North American individuals have a business, family, or real estate across the border that requires a money transfer. The best way to preserve CAD and USD simultaneously is to invest in a cross border bank account. For instance, if you are a resident of Ottawa you could walk to any bank branch downtown and register for an account that stores money in US dollars. Actually, most large banks will offer even more customization/different types of currency; perhaps you need to store Euros or Mexican pesos. For the most part, cross border accounts count as either chequings or savings, and it’s up to you to decide what’s best for your needs. If rapid payment processing is crucial, you should probably go with chequing – on the other hand, savings accounts will net you some interest on your balance.

Other Important Considerations When Exchanging Money in Ottawa

Compare Rates Constantly

If you would label yourself making frequent international transfers it can be really helpful to constantly keep an eye on the rate market. You’ll literally pay the price each time you make an expedient transfer, without observing the exchange rate first. The importance of market watching increases exponentially if you’re trading thousands of dollars worth of currency. If you intend to buy and sell small quantities of change, this would not really matter. There would not be much incentive to monitor rates vigilantly, since the benefit doesn’t outweigh the effort. To briefly summarize, the importance of this consideration increases by the order total. While we’re understandably advocates of FX rate monitoring, we know that it can be a hassle to constantly stay on top of the seemingly endless price fluctuations.

Also note that you shouldn’t be searching for the right currency exchange rate exclusively. If you prefer to do your financial deals in person, you may wish to walk in downtown Ottawa and stop in a few major banks. While you are there, you can inquire about their total fee structure – not just their rates – and even try to negotiate. In simple terms, you cannot just rely on the exchange rate to save you money. Sometimes rates may seem too good to be true. FX service providers who won’t show you your cost breakdown once you book a transaction include more than just a simple rate markup. Money transfers often come with flat fees or variable percentage fees, as well as any other potential commissions.

There Is Never a Bad Time to Exchange

Attempting to time the foreign exchange market is a completely unreasonable claim, even if you manage it on a rare occasion. This applies double to retail FX clients who do not have much experience trading currencies themselves. Truthfully, unless you’re a tried and true expert, the FX market can be harder to time than the stock market. On this note, currencies on an FX market are just like securities in that they are not always reliable or rationally predictable. Timing the right price points on a conversion is very difficult, especially when considering all the factors at play that influence price.

Based on the assumption that you are an FX service user and not a currency trading expert, we highly recommend simply waiting for a rate that you like. And while it’s tricky even to predict an uptrend or downtrend, it’s technically more feasible than predicting an exact price. In terms of the bigger picture, you should not stress about perfect currency rates all the time. You may miss out on a few percentage points, but it ultimately won’t matter in the long run. However, if your intuition is telling you that rates are good in the present but won’t be in the future, KnightsbridgeFX will let you lock in today’s rate for a certain period. Since timing the market has to with the exchange rate, it also scales in importance with order size.

Knowing all this, there is still some minor timing advantages you can use to lower the risk of getting unfavorable rates. In the FX industry, you are most likely bound to receive the worst exchange deals on weekends and the best deals on weekdays. For the most part, this has to do with foreign exchanges being closed (generally) on weekends, so an FX provider’s on-hand supply of currency is more limited. Given this fact, you can catch competitive deals during windows where the market is open versus when it is closed – even if the difference is marginal.

Cost Savings Does Not Always Have To Be the Priority

To tell you the truth, it isn’t necessary to always be switching back and forth between providers if they change their rates by a tiny margin. In some cases it might be when you’re planning out transfers that exceed tens of thousands of dollars, but for the average Ottawa FX user the benefit is miniscule. Every time you switch providers it involves keeping track of multiple accounts, and frankly it’s not always worth the hassle. For the exact same reasons it might not be in your best interest to open up a cross-border account either.

While a financial advisor may be able to help, in many cases it’s best to analyze the cost to benefit of exchange on your own. Introducing a third party exchange service into the mix and using their platform to sent digital banking deposits can certainly save you money, but it comes with added effort. Most FX service providers that qualify as third party digital-only businesses will ask that you fill out paperwork, and submit personal identification documents.

Ultimately if the amount you save is negligible, transferring primary banks or introducing alternate platforms might not be worth it. It’s easy to stick to one bank for low currency amounts, since they can exchange and deposit the money for you under the same system.




· OPENNESS – There are so many brick and mortar bank branches scattered within the Greater Ottawa Area to choose from.

· NON-COMPETITIVE RATES – The banking industry often features higher markups than digital-only companies.

· CREDIBILITY – The big Canadian banks have been in the industry for a long time, and they’ve built up a historic reputation on reliability.

· FLAT FEES – Banks are no stranger to including flat and variable percentage charges to your transfer order.

· ALL-IN-ONE – Since you likely have an account open with a major bank already, using their foreign exchange services could save you a lot of time.

· DATED – A large portion of the big banking world’s FX platform runs on legacy systems. Nowadays there are so many FX platforms that are easier to navigate, more responsive, and more customizable.

Helping You Save Money Since 2009

With so many digital transfer companies looking to disrupt the FX industry, it’s hard to find one that best suits your needs. When searching through Google reviews from Ottawa it’s important to find a reputable provider. KnightsbridgeFX’s main department that handles transactions received a 4.7/5 star rating with over 100 reviews, marking it as a highly reputable business. On top of that, the company has been fulfilling conversion orders for over a decade, whereas many currency exchanges are only recently entering the scene. KnightsbridgeFX takes pride in being able to offer you great exchange rates, simply because they don’t have many business costs to make up for. Not only do they offer a best rate guaranteed on US dollars, but they do so without any flat transfer fees. At KBFX, the only cost you pay is the exchange rate.

By this point you understand that bank’s foreign exchange should be only be prioritized if you place a ton of value in convenience. If you’re looking to save the most money possible we recommend you go digital. Here are a few reasons why so many retail clients are switching over to Knightsbridge Foreign Exchange.

AMAZING TRACK RECORD: To this day, the company has serviced over 70 thousand clients and executed over $2 billion CAD worth of transactions.

ABSOLUTELY NO HIDDEN FEES: KnightsbridgeFX practices fully transparent business with exchange rates that you can lock in. Once you’ve agreed to a rate, KBFX will send you a written confirmation that details the entire cost of your order – you only pay the exchange rate.

WIRE TRANSFERS ARE ON US: As long as you’re willing to transact amounts over $2000 CAD, KnightsbridgeFX will give you free complimentary wire transfers on your funds to anywhere in the United States.

PROFESSIONALLY REGULATED: KnightsbridgeFX is regulated by FINTRAC (#M09819788) and AMF (#904210).

FEATURED ON TV: You can occasionally find KnightsbridgeFX on BNN, CTV, The Globe and Mail, Toronto Star, and CBC.

Taking a Deep Dive into Ottawa, ON

If you’re looking for a nice, peaceful life that is next to the Canadian governments most influential buildings look no further than the nation’s capital. Ottawa is currently situated in Canada’s top five largest cities by population but it is growing rapidly as the area’s job market continues to advance. The city is named after the river that flows near it, which is the Ottawa river. “Ottawa” is actually an ancient Algonquin term that represents trading. Ottawa is firmly engrained in Canada’s cultural history – after all it is both a provincial and federal hub where government policies get formed. The city’s known across Canada for its rich history and high quality educational facilities.

PROS and CONS of Living in The Capital of Canada

Ottawa PROS

Ottawa CONS

JOB MARKET: Ottawa has a very low rate of unemployment compared to the rest of Canada. There are many jobs to come by in the nation’s capital, specifically if you’re interested to work in the government sector.

CAREER: If you’re looking for more than just a simple job to get by in the city, you’re pretty much restricted to the government sector. Otherwise if you’re not in a specialized field you would find many more job opportunities in a city like Toronto.

SAFETY: For being a capital city, Ottawa actually has some of the lowest overall crime rates across the country. Most locals would agree that crimes more serious than petty theft rarely occur, and that travelling the city is very safe.

WEATHER: The harsh, cold winters in Ottawa are very unforgiving. Temperatures can easily drop to absurdly low levels in the winter, and snow plows are practically worth their weight in gold in the city.

NATURE: Ottawa has a lot to offer in terms of natural adventures. Being located near rivers, forests, and cliff edges makes Ottawa a great place to reside for hikers and paddle boaters.

HOUSING: While Ottawa, historically, has been a relatively cheap city to live in Canada, home prices are quick to rise. The housing market has seen very rapid growth in Ottawa in recent years.

APPEARANCE: Canada’s capital is beautifully constructed with many Gothic-style buildings and vibrant scenery. You’ll also notice if you visit downtown Ottawa that everything is kept properly maintained and buildings look clean.

LIFESTYLE: Even though it is the capital city of Canada, Ottawa gives off a very relaxed vibe. Although this might benefit some, many residents would agree that the city gets boring fast.

SCHOOLING: Ottawa’s university teachings are kept at a very high standard in Canada. The city’s primary University (U of Ottawa) has a developed a reputation for being a great overall school for undergraduates, post-graduates, and doctorate studies.

LANGUAGE BARRIER: Although it’s not as prevalent as Quebec, being able to speak French does in fact go a long way. If you don’t speak any French at all it can be noticeably more difficult to find a job in government positions.

Exploring Ottawa, Ontario: 8 Most Underrated Activities

Fortunately, even though Ottawa might not be the most exciting city in Canada there is still a lot to do for first time visitors. Although we recommend visiting the capital city in the warmer months, there are plenty of things you could do here in the winter if you’re brave enough. Keep in mind that Ottawa is ideal for travelers looking to be comfortable – adrenaline fueled activities are better pursued outside the city’s borders.

Take A Walk Through Westboro Village

If you’re looking for a quaint little town with picturesque scenery, look no further than the Westboro Village in Ottawa. This small village offers a nice relaxing break from the downtown noise, and its streets are dotted with unique coffee shops and boutiques. Come to Westboro Village if you’re interested in personal wellness and need some quiet time.

Sit In The Supreme Court

Founded in the year 1939, the Supreme Court of Canada is still a highly influential government building. All Canadian citizens and residents should visit the Supreme Court at least once in their lifetime, and luckily it’s very doable. The building is typically open year-round for tourists but there are certain busy periods that may require a reservation.

Come Spectate a Sporting Event

Although Ottawa’s sports teams may not be the best at what they do (go Toronto!) the city offers a variety of minor and major league teams. Whether you’re interested in hockey, soccer, or baseball, Ottawa has a team for you to watch. Check out the NHL-famous Ottawa Senators, soccer stars Ottawa Fury FC, or the city’s Canadian-American baseball team the Ottawa Champions.

Lounge On the River’s Shores

Since the Ottawa River is situated right next to the city and goes on for many kilometers, you’ll be sure to find a nice warm strip of sand to lounge at. The local residents are big advocates of Petrie Island, where the shores make up more of a beach instead of just a dirt bank. Granted, Ottawa isn’t like Florida when it comes to beach quality, but it’s definitely worth a day trip to go swimming in cool waters.

Stroll Through Major Hill Park

Go for a nice walk through one of Ottawa’s most scenic green spaces and enjoy the wonderful landscape. The park features a careful array of botanical arrangements and flower patterns that are sure to please your significant other, as the park provides a great location for a date. In addition, you’ll also be close to Parliament Hill, so you could easily transition there after the walk.

Go to Parliament Hill

This attraction may in fact be the least underrated on our list. However, it needs to be stated since it has such a deep connection to Ottawa and also Canadian politics as a whole. Not only does Parliament Hill host the members of Parliament who decide on government policies, but it’s also very accessible to the general public. Basically anyone can visit the grand building (at least from the outside) and admire the architecture.

Shop at Byward Market

If you’ve finally had enough of the inauthentic vibes that you get from a major retailer or super store, come get everything farm fresh and hand made from Byward Market. The market is open continuously throughout the year, and different months come with different varieties of fruits and vegetables that are in season. It’s a great place to visit if you prefer farm to table cuisine and want to connect with local agriculturalists.

Take a History Lesson

Ottawa is unique in the sense that it not only has a municipal history, but it also plays a major role in Canada’s history as a nation. You don’t need to be a history enthusiast to enjoy visiting any of their historical museums – we guarantee they will entertain.

On the other hand, you could learn about the city’s darker half by taking spooky tours around infamous buildings. Ottawa has many buildings that are deemed by the locals to be haunted, and tour guides love showing visitors around these landmarks. Some of the more notable haunts include the Fairmont Chateau Laurier and the Bytown Museum!


Main Page

Ottawa Ontario Home Page

Contact Us

Major Bank Exchange Rates






Follow Us on Social Media

KnightsbridgeFX Twitter

KnightsbridgeFX Facebook

KnightsbridgeFX LinkedIn