The low rates of Canadian dollar is a cause of concern for Canadians who regularly travel to the US or buy products from us based retailers. Here are some tips from currency exchange experts that will help to get most value for Canadian dollars.
Choose a reputed currency exchange
The channels for currency exchange makes a huge difference on the exchange rate. Though banks are the safest places for currency exchange, most of the banks charge transaction and serve fees on exchange. The exchange rate is marked up to accommodate these fees. It is a good idea to choose a specialty currency exchange that offers best rates. Choose a reputed Currency Exchange Ottawa that offers the best rate for Canadian dollars. Never exchange currency at airport and hotel kiosks and counters as they charge a huge commission on currency exchange.
Make bulk transaction
Bulk transactions help you to bargain for a better exchange rate. Shop around and know about the prevailing rate of exchange offered by different currency exchange providers. Choose a registered and trustworthy Currency Exchange Ottawa to get the best value. Most of the online exchanges offer obligation free quotes.
Observe the trend
The rate of Canadian dollars follows the price movements of oil prices. Observe the overall market conditions and buy during favorable conditions. Get quotes about the exchange rate for Canadian dollars from a reputed online currency Exchange.
Use no fees credit cards
Use credit cards which does not levy extra transaction costs and service charges. Confirm with the bank issuing the credit card about the applicable charges for foreign transactions before the trip. Some vendors also charge service fee for credit card transactions. So talk to the vendor before making payment using credit card. Say no to dynamic exchange rates. Pay in the local currency of the country you travel.
Avoid airport and hotel kiosks
It is advisable to avoid currency exchange at hotel and airport counters and kiosks because they charge a huge commission. It is hard to bargain for a better exchange rate at airport and hotel counters. Choose a reputed Currency Exchange Ottawa, which offers best rate before you travel to the airport.