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Understanding the Table:
The comparison table above helps you see the total cost of your Canada Post currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Canada Post offers foreign currency exchange services to its customers through its partnership with CIBC. Customers can visit any Canada Post location to exchange Canadian dollars for a range of foreign currencies, including US dollars, Euros, British pounds, and more.
Canada Post's foreign currency exchange service is provided by CIBC Foreign Cash Online, which allows customers to order foreign currency online and have it delivered to their home or local Canada Post outlet. Customers can also purchase foreign currency in person at a Canada Post location, and can use cash or debit card to complete the transaction.
Canada Post also offers a foreign exchange calculator on its website, which allows customers to calculate the exchange rate for a particular currency pair and estimate the cost of a foreign currency transaction.
It's important to note that fees and exchange rates may vary depending on the currency and location, and customers should always confirm the exchange rate and fees with Canada Post or CIBC before completing a transaction.
Sending international transfers with Canada Post will include a margin rate of between 5.5% to 10% – this is much higher than most money transfer broker rates (which are normally 0.5 to 1.5%).
The Canada Post CAD to CNY exchange rate is 4.6769. This is -10.5% compared to the latest CAD-CNY mid-market rate 5.2254.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Canadian dollar (CAD) to Chinese yuan (CNY) rates from different sources before making a conversion.
The above Canada Post - Loonie to Yuan comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Canada Post and other foreign exchange providers against the latest CAD-CNY mid-rate and the possible savings of using various providers.
Looking at the full CAD to CNY - Send Money comparison table the provider with the best CAD to CNY exchange rate is Wise at 5.1946, -0.59% from the latest mid-market rate 5.2254.
The next best is Western Union at 5.1418, -1.6% from the mid-rate.
Then WorldRemit at 5.0791, which is -2.8% from the mid-rate.
Among the banks the TD Bank rate is 4.8754 at -6.7% compared to the mid-rate 5.2254.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Canada Post often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
