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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 best GBP to USD exchange rate is 1.3222 from Wise. This is -0.45% compared to the mid-market rate 1.3282.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare British pound (GBP) to US dollar (USD) rates from different sources before making a conversion.
The above Canada Post - Sterling to Dollar 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 GBP-USD mid-rate and the possible savings of using various providers.
Looking at the full GBP to USD - Send Money comparison table the provider with the best GBP to USD exchange rate is Wise at 1.3222, -0.45% from the latest mid-market rate 1.3282.
The next best is OFX at 1.3216, -0.5% from the mid-rate.
Then Currencies Direct at 1.3213, which is -0.52% from the mid-rate.
The Western Union rate is 1.3149 which is -1% from the mid-rate.
Among the banks the Lloyds Bank rate is 1.2528 at -5.7% the Royal Bank of Scotland rate is 1.2608 at -5.1% and the Barclays Bank rate is 1.2817 at -3.5% compared to the mid-rate 1.3282.
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:
