Ottawa is a wonderful city with loads of tourist attraction sites. It is also the capital city of Canada, making it an ideal spot for tourist around the world to converge. However, as a tourist in Canada you will need to use the local money and not your home currency.
For this reason, viable and cheap options of currency exchange, for those visiting or leaving Ottawa, Canada always come in handy. Finding the cheapest options can be hard but with some guide and online research on international currency exchange Ottawa, you can be on your way to securing them ASAP.
Consequently, you should know that currency rates often fluctuate, so there is no guarantee to a better rate tomorrow. However, being informed about the interbank rates can help you know if you are getting a better deal or being ripped off.
Here are your cheapest options when looking to change your home currency to the Canadian dollar or change the Canadian dollar to the local currency of your destination, before you leave.
Whether you are leaving Canada or visiting it, exchanging your currency at the bank is always the best and cheapest option, when compared to doing it at the airport or money exchange bureaus within the city. Besides, banks are highly reputable, making them secure for changing different currencies without being scammed.
Moreover, you can do some basic research on whether your bank has a branch there, before leaving. This would make it easier and cheaper to transact through them.
Debit and credit cards
Debit cards like Visa and MasterCard are accepted all over Canada, even Ottawa. So make use of them, though you will be charged some service fees, but it is much cheaper than dealing with a Forex exchange bureau.
Credit cards are also a viable and cheap option of exchanging currency in Ottawa, Canada, as long as it has no conversion rate fees, or foreign transaction fees.
ATMs are everywhere in Ottawa, Canada and are probably the easiest and most secure way to get your funds. You can get your currency instantly, but at extra fees. Therefore, it pays to research on your home banks, to see which ones have partners in Ottawa, Canada or are part of the Global ATM Alliance. This way you can withdraw your cash at minimal fees or no-fee at all.
If by bad luck you cannot minimize or avoid these ATM fees, you can keep them a bit low by withdrawing more money at once.
Another tip when it comes to using foreign ATMs, is to always use the ones located at the banks and not those on the streets or convenience stores, as their fees tend to be higher.
Exchange currency online
In this digital era, anything you want can be gotten by a simple online search. So doing a currency exchange online will not be that hard. You just need to transact with reputable websites within Ottawa, Canada. It is easy, convenient and cheaper than bureaus located in tourist locations.
Airports and hotels
Airports and hotels in Ottawa, Canada are probably the most convenient places to converting your home currency to the Canadian dollar. However, this convenience often comes at a cost.
Therefore, to ensure you are getting your money’s worth, keep track of the currency exchange rate or just check it online on your phone before handing the money over for the exchange. If the difference is just a few dollars then you can do the exchange, instead of risking being scammed elsewhere around the city.
Ottawa is a big city and with it comes loads of resources, so it will not be hard to find a cheap option for your currency exchange.