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USD/CAD - Convert Compare Save

United States Dollar to Canadian Dollar exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

This resource page for the United States Dollar to Canadian Dollar exchange rate, has news, forecasts and USD to CAD comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

USD/CAD Exchange Rates - How to Compare & Save

Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for USD/CAD International Money Transfers. Costs are calculated against the current interbank mid-rate.

 

USD to CAD International Money Transfers

  

Foreign Transfer ProvidersReceive CAD(C$)Exchange RateFee USDTotal CostDeal Links
OFX logo
13,169 CAD
Best Overall
1.31690^0.8%
Wells Fargo Bank logo
12,709 CAD
460 CAD
1.2732184.26%
HSBC logo
12,700 CAD
469 CAD
1.2719$154.33%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
12,622 CAD
547 CAD
1.2696154.92%
Bank of America International Money Transfers
Bank of America logo
12,540 CAD
629 CAD
1.2667$1005.54%
U.S. Bank International Money Transfers
U.S. Bank logo
12,540 CAD
629 CAD
1.2667$1005.54%
 
OFX: Foreign Transfer USD→CAD
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:1.3169 (0.8% from mid-rate)
CAD amount:13,169 CAD
Total Cost:0.8%
Time:
Rate Fetched: 0:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→CAD
USD amount:$10,000 USD
Fee:18
Exchange Rate:1.2732 (4.09% from mid-rate)
CAD amount:12,709 CAD
Total Cost:4.26%
Difference:
460 CAD less than using OFX
Time:0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→CAD
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:1.2719 (4.19% from mid-rate)
CAD amount:12,700 CAD
Total Cost:4.33%
Difference:
469 CAD less than using OFX
Time:0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→CAD
USD amount:$10,000 USD
Fee:15
Exchange Rate:1.2641 (4.78% from mid-rate)
CAD amount:12,622 CAD
Total Cost:4.92%
Difference:
547 CAD less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→CAD
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.2667 (4.58% from mid-rate)
CAD amount:12,540 CAD
Total Cost:5.54%
Difference:
629 CAD less than using OFX
Time:0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logoU.S. Bank

U.S. Bank: Foreign Transfer USD→CAD
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.2667 (4.58% from mid-rate)
CAD amount:12,540 CAD
Total Cost:5.54%
Difference:
629 CAD less than using OFX
Time:0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 08/17/2019 - See full table

Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.

Travel Money ProvidersAmount CAD(C$)Exchange RateFee USDTotal CostDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
1,242.6 CAD
Compare
1.242606.4%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
1,230 CAD
13 CAD
1.2426$107.33%
Wells Fargo Bank logo
1,217.75 CAD
25 CAD
1.2426$208.27%
Travelex Online US logo
1,181.1 CAD
61 CAD
1.18110^11.03%
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→CAD
USD amount:$1,000 USD
Fee:0
Exchange Rate:1.2426 (6.4% from mid-rate)
CAD amount:1,242.6 CAD
Total Cost:6.4%
Time:0:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money USD→CAD
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:1.1616 (12.5% from mid-rate)
CAD amount:1,230 CAD
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Travel Money USD→CAD
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:1.2426 (6.4% from mid-rate)
CAD amount:1,217.75 CAD
Total Cost:8.27%
Time:0:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Travelex Online US: Travel Money USD→CAD
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:1.1811 (11.03% from mid-rate)
CAD amount:1,181.1 CAD
Total Cost:11.03%
Time:
Rate Fetched: Sat Aug 17 2019 22:00:05 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Snapshot 08/17/2019 - See full table

USD to CAD interbank exchange rate = 1.3275

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on USD/CAD exchange rates

Foreign Transfers Travel Money

Foreign Transfers Travel Money

   

USDCAD blended flags

USD and CAD in the Markets

When determining the best time to make a foreign exchange transaction, in this case the USD vs CAD, you should pay attention to the recent market trends for both currencies.

 

United States Dollar (USD)

The US dollar has held its value this year despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others. After grim employment data on June-7, the Dollar Index was up 0.5 percent on the year (it had fallen 2 percent from May’s 2-year high).

As in other parts of the world, interest rate cuts are now expected in the US following a drastic shift in economic forecasts. At least two Fed cuts are expected this year, with the first most likely to come in July.

Taking the blame for the economic downturn is US President Donald Trump, whose trade policies have set a ball rolling that could wipe $455bn from global output according to the IMF.

Read more in the article USD Forecasts.

 

Canadian Dollar (CAD)

The Canadian dollar stormed ahead in the second half of June, rising to a 16-week high against the US dollar and to 8-month highs against the euro, pound, Australian and New Zealand dollars. Against the Aussie, a minimal additional increase would take CAD to a 9-year high.

Supporting the loonie was a 10 percent rise in the oil price (oil is among Canada’s most exported products but is volatile and can’t be relied upon), a large and welcome jump in inflation, and dovishness at major central banks of the world, including the Federal Reserve, ECB and RBA.

Any delay to Canadian ratification of the USMCA trade deal (already accepted by Mexico) is likely to depress sentiment on Canada’s currency.

Read more in the article CAD Forecasts.

Why can't I just get the USD/CAD market rate I see online or in the media?

The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the USD / CAD was traded (bought or sold) in the international markets.

All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.

USDCAD blended flags

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

We help you Compare & Save Money on Exchange Rates.

 

View all USD Exchange Rates