Money Mart exchange rate — how to make the most of your dollars


Money Mart have been operating in Canada for over 35 years with branches throughout the country providing a range of loans, financial products and currency services. You can exchange your dollars or arrange an international transfer by calling into your local branch of Money Mart.¹

As with any financial service provider, it’s well worth doing some research in advance before you decide whether Money Mart is the right place to get your travel money or arrange your international payment. By checking out the upfront fees as well as the exchange rates available, you can see the true cost of your currency transaction and compare it to other providers. More on how to do that — and an alternative provider, Wise to use as a comparison — in a moment.

What currency services are offered by Money Mart?

Money Mart offer loans and cash advances — also known as payday loans, as well as consumer services. You can pay bills via Money Mart, get a prepaid Mastercard or cash a cheque, although there are fees for consumer services which you’ll want to research.

In addition, Money Mart provide currency exchange services and international transfers through their partnership with Western Union. To access either of these currency services, you’ll need to visit your local Money Mart store — there are details on how to locate a branch a bit later.

Money Mart exchange rates — are they any good?

No exchange rates or fee information is available on the Money Mart website. Instead they ask that customers visit a branch to confirm the services available to them and the costs involved.

When you go along to your local Money Mart location, you’ll need to check a few things, including the exchange rate used if you want to convert your dollars into a foreign currency or make an international payment.

Once you know the rate that Money Mart can offer for your transaction, it’s a smart idea to check the exchange rate against the mid-market rate. The mid-market rate is a good benchmark because it’s the rate banks use when buying and selling currency on the open market. Some providers pass this exchange rate on to their customers — but many others add a markup to the mid-market rate, which they keep themselves as profit.

You can get the live mid-market rate, using an online currency converter or a google search, and then check easily if there is a markup or margin added to the exchange rate Money Mart give you for your transaction. If you’re looking for an alternative service to compare prices, you can check out Wise, for currency conversion with transparent fees, which uses the mid-market rate every time. More on that in a moment.

Money Mart Western Union payments

Money Mart can change your dollars to foreign currency in store, and also arrange international payments via Western Union. You’ll need to visit a Money Mart branch and arrange your Western Union payment in person, paying in cash.

With a Western Union payment, your money can be sent to agents based all over the world and collected in cash by your recipient with a wait of just a few minutes. You’ll tell the agent the details of the person you’re sending money to, and will be given a unique code, known as a MTCN, to pass to the recipient. Your recipient can then visit a Western Union agent near them, with their ID document and the MTCN to collect the payment in local cash.²

There are fees to pay when using Money Mart Western Union payments. You’ll need to check both the upfront fee, which will be confirmed when you place the transfer, and the exchange rate used. It’s important to check the exchange rate in particular, as there may be a markup added to the mid-market rate. Here’s what Western Union say about it in their terms:

“Western Union also makes money from currency exchange. When choosing a money transmitter, carefully compare both transfer fees and exchange rates. Fees, foreign exchange rates, and taxes may vary by brand, channel, and location based on a number of factors. Fees and rates subject to change without notice.”³

Taking time to check the overall costs of your payment will help you to avoid any surprises down the line. Compare the prices available with those from other providers, such as Wise, to see which meets your needs best.


Wise — a smart, secure and cheap alternative for your international payments

If you need to make an international payment or remit money home on a regular basis, you might find you can save time and money with a Wise account.

You can set up a borderless account online, and then check your balance, make and receive payments online using the dedicated app. Even better, sending money with Wise could help you save money on transfers while informing you of the fees and exchange rate before you make the transaction.

All currency conversion is done using the mid-market exchange rate, with no hidden fees and you can hold any of over 40 different currencies all in the same account. Switch between currencies when you need to for a low transparent fee and send and receive payments all over the world using your laptop or mobile device. You can manage your money in multiple currencies without ever needing to leave the comfort of your own home.

How can I contact Money Mart?

Need to talk to someone at Money Mart? Here’s how to get in touch:⁴

  • Visit your local Money Mart branch. There’s a store finder feature on the Money Mart website so you can find the most convenient location for you
  • Call the Money Mart head office: 1 800 361 1407
  • Email using the following address:
  • Write to the Money Mart team: 74 E. Swedesford Rd, Suite 150, Malvern, PA 19355

Money Mart covers the whole of Canada with over 500 locations offering a range of loans, consumer finance and currency services. If you want to exchange currency at your local Money Mart or make a payment via their partnership with Western Union, you’ll need to visit your local branch to set it up. Before you decide to use the service, it’s smart to check the fees and also the exchange rate offered. Compare the rate against providers which use the mid-market exchange rate for currency conversion, like Wise, to make sure you’re getting the best deal available.



All sources last checked 9 March 2019

Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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