Understanding the Table:
The comparison table above helps you see the total cost of your HSBC 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’.
The HSBC USD to CAD exchange rate is 1.3066. This is -4.3% compared to the latest USD-CAD mid-market rate 1.3647.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Canadian dollar (CAD) rates from different sources before making a conversion.
The above HSBC - Dollar to Loonie comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by HSBC and other foreign exchange providers against the latest USD-CAD mid-rate and the possible savings of using various providers.
Looking at the full USD to CAD - Send Money comparison table the provider with the best USD to CAD exchange rate is OFX at 1.3579, -0.5% from the latest mid-market rate 1.3647.
The next best is XE at 1.3566, -0.59% from the mid-rate.
Then Wise at 1.3559, which is -0.64% from the mid-rate.
The Western Union rate is 1.3511 which is -1% from the mid-rate.
Among the banks the Chase Bank rate is 1.2656 at -7.3% the Wells Fargo Bank rate is 1.2575 at -7.9% and the Citibank rate is 1.3202 at -3.3% compared to the mid-rate 1.3647.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like HSBC 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:
