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Understanding the Table:
The comparison table above helps you see the total cost of your TD Bank 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 details and click ‘Get Rates’.
TD Bank offer competitive exchange rates on over 50 foreign currencies for travel money and transfers via their online internet banking at their branches.
As usual non-cash rates for transfers are better than Travel Money (Cash) Rates. This reflects the costs and risks associated with shipping, handling and holding foreign currency in cash.
TD Bank publish their CAD and USD exchange rates here. These Non-Cash rates are available to TD bank clients only and apply to the conversion of paper and electronic instruments such as wire transfers, cheques, drafts, etc.
Sending money to Canada can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers to India can be especially expensive – often 5% to 10% worse than using a foreign exchange specialist to send to Canada bank accounts or pay a Canadian dollar invoice.
The TD Bank USD to CAD exchange rate is 1.3031. This is -4.9% compared to the latest USD-CAD mid-market rate 1.3697.
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 TD Bank - Dollar to Loonie comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by TD Bank and other foreign exchange providers against the latest USD-CAD mid-rate and the possible savings of using various providers.
Looking at the full comparison table the best USD to CAD exchange rate is 1.3629 from OFX, -0.5% from the mid-market rate 1.3697. The next best rate is 1.3614 from XE, -0.61% from the mid-rate. Then Wise with 1.3607 is -0.66% from the mid-rate.
The Western Union rate is 1.356 which is -1% from the mid-rate.
Among the banks the Chase Bank rate is 1.2624 at -7.8% the Wells Fargo Bank rate is 1.2542 at -8.4% and the Citibank rate is 1.3172 at -3.8% compared to the mid-rate 1.3697.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like TD Bank 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: