Best places to exchange currency in Montreal

Planning a trip to Montreal? Whether you’re visiting for a holiday, business trip or to check in on friends and family, you’re going to need some spending money. And this means getting your hands on some Canadian Dollars (CAD).

In this guide, we’ll run through the best places for currency exchange in Montreal.

Prefer to avoid carrying cash at all? Skip the trip to the bureau de change and use Wise instead. Plus, if you order a Wise international debit card, you can spend in CAD at the mid-market rate, and only pay a small and transparent fee⁸.

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What to watch out for when exchanging money (in Montreal and everywhere else)

Before you start exchanging money, there are a few crucial things you need to know:

• The Canadian Dollar’s value can fluctuate, so you need to exchange your money at the right time. This means its value may go up or down depending on current demand, the state of the Canadian economy and other factors. So, keep an eye on the exchange rate and convert your money when it’s relatively low in comparison to your home currency. You can sign up for exchange rate alerts here.
• Get familiar with the mid-market rate. Different companies offer different exchange rates. However, the only real exchange rate is the mid-market rate, which is the midpoint between the buy and sell rates from global markets. This is the fairest possible rate you can find, and it’s the one Wise uses for all FX conversions. So, even if a provider charges no fees or commission, there could still be costs ‘hidden’ in the exchange rate.
• Avoid changing money at hotels or airports. It may be convenient, but you’ll almost certainly not be getting the best exchange rate in Montreal.

Exchange money in a few clicks with Wise

If you prefer not to carry cash around, and don’t want to interrupt your trip hunting down places to exchange money, try Wise instead.

Open a Wise multi-currency account, and you’ll have lots of low-cost options for spending in Canadian Dollars.

You can add money to your account, then convert it at the mid-market exchange rate to over 50 currencies, including CAD. You can even send money back home or internationally while you’re in Canada.

Or, you can order Wise card for a fee⁸, and spend with the card – the currency is converted automatically using the mid-market rate.

You can even use your Wise card to withdraw cash from ATMs, just like a local with a Canadian bank account.

See how much you can save with Wise:

Open a Wise account for free

Where to exchange currency in Montreal

Now, let’s run through some of your options for Montreal currency exchange, just in case you need it. Remember, we can’t necessarily tell you the best place to exchange money in Montreal, as you’ll need to compare exchange rates and fees. But the following info should help you to make your choice.

YAP Exchange

YAP has one just one exchange bureau in Montreal, next to the Notre-Dame Basilica, from which it offers both foreign currency and Bitcoin exchange (should this be something you’re interested in). Useful to know: there’s a $2 CAD fee for all transactions¹.

• Address: 86 Notre-Dame St W, Montreal, QC H2Y 1S6¹.
• Opening hours: 7 days a week, 10am to 6pm².
• Contact: +1 (514) 499-3677¹.

Globex 2000

Offering services for global exchange in Montreal, Globex 2000 is an established FX provider with multiple locations in Montreal. It offers a Buy-Back Guarantee for unused currency³.

You can reserve currency online and pick it up from your chosen location. Here are a few of the most central⁴:

Location	Opening hours	Contact
455 Rue St. Catherine O, Montreal, Québec H3B 1B1	Mon to Fri, 10am to 6pm. Saturday, 11am to 5pm.	514-933-2555
1336 ave. Greene, Westmount,QC., H3Z 2B1	Mon to Fri, 10am to 6pm. Saturday, 11am to 5pm.	514-933-2555
2089 Boul Marcel Laurin, Saint Laurent, Québec H4R 1K4	Mon to Fri, 10am to 6pm. Closed weekends	514-933-2555
4684 Rue Jarry E, Saint-Léonard, QC, H1R 1X3	Mon to Fri, 10am to 6pm. Closed weekends	514-933-2555

Calforex

Calforex has two locations for money exchange in Montreal - one in the heart of downtown and another in the Carrefour Laval shopping mall. Both offer the sale of over 100 currencies and a Cash Buy Back Program⁵.

Location	Opening hours	Contact
1230 Rue Peel Street Montréal, Québec H3B 2T6⁵	Mon to Fri, 9am to 6pm Sat to Sun, 10am to 6pm	(514) 392-9100
3035 Blvd Le Carrefour unit L031C Laval, Quebec H7T 1C8⁶	Mon to Wed, 10am to 6pm Thurs to Fri, 10am to 7pm Sat to Sun, 10am to 5pm	(450) 506-1113

Sharif Exchange Montreal

With just one location in Montreal, Sharif promises some of the best exchange rates in Montreal⁷ - but of course, it’s always worth doing a quick comparison. You don’t need to pre-order your currency, either - you can simply pop in on the day.

• Address: 261 Boulevard de la Cote-Vertu Ville St-Laurent, Quebec H4N 1C8⁷.
• Opening hours: Monday to Friday, 10am to 5pm. Closed weekends⁷.
• Contact: 514-600-3696 or 438-796-4269⁷.

The bottom line

While searching and comparing to find the best currency exchange in Montreal, remember that it’s all about those exchange rates.

Zero fees and commission is great, but it could still work out expensive if you’re getting a terrible exchange rate.

So, always compare to the mid-market rate before changing money.

And if you’d like an easier life, you can always use Wise to send, spend and withdraw in CAD during your trip to Montreal.

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Sources used:

1. https://yap.cx/rates/
2. https://yap.cx/
3. https://www.globex2000.ca/
4. https://www.globex2000.ca/contact-2/
5. https://www.calforex.com/en/locations/foreign-exchange-montreal-qc-rue-peel/
6. https://www.calforex.com/en/locations/calforex-currency-exchange-montreal-carrefour-laval-2/
7. https://sharifxchange.com/
8. “Please see Terms of Use for your region or visit Wise Fees & Pricing: Only Pay for What You Use for the most up to date pricing and fee information.”

All sources checked on 22-Jul-2022