6 Best places to exchange currency in Surrey - 2024
Looking for easy ways to exchange your money to or from Canadian dollars in Surrey, BC? This guide has some ideas for you.
We’ll look at some convenient physical exchange locations in Surrey and nearby in the Metro Vancouver area, plus some alternatives if you don’t want to visit a physical currency exchange store. We’ve also got a few handy tips to make sure you get the best deal on currency exchange, at home or abroad.
Things to consider before exchanging money
1. Get a travel money card to cut costs
Getting a prepaid travel money card is another handy way to manage your travel money. It’s safe and convenient and can also help you avoid DCC as you’ll be able to let the card automatically pay in the currency needed wherever you are.
While different prepaid travel cards have their own features, they’ll usually let you hold a balance in one or more foreign currencies and may come with extra perks like some fee free international ATM withdrawals and preferential exchange rates. A couple of options to consider include the Wise card, or the Cash Passport from Canada Post.
Wise cards support 40+ currencies for holding or exchange, while the Cash Passport supports 7 currencies. One big difference between the 2 cards is that the Wise card will let you leave your balance in CAD and automatically convert for you at the point of payment with no foreign transaction fee. The Cash Passport on the other hand will charge you a 3.25% fee if you don’t have the currency you need in your account, or if your balance in that currency isn’t high enough.
Here’s a quick overview of some of the pros and cons of Wise vs the Cash Passport, to give you an idea of which may work for you.
| Pros | Cons | |
|---|---|---|
| Wise | ✅Free to open an account ✅Hold 40+ currencies ✅Use your Wise card in 150+ countries ✅No fee to spend currencies you hold ✅Mid-market rate currency conversion with low fees from 0.43% | ❌Some transaction fees apply ❌Some ATM fees apply once your monthly free withdrawal allowance is exhausted ❌No branch network |
| Cash Passport | ✅Convenient to collect in a Post Office branch ✅No fee to spend currencies you hold ✅Secure way to spend and make withdrawals ✅24/7 emergency support ✅Extra Mastercard perks and travel benefits available | ❌15 CAD fee to get a card ❌3.25% fee if you spend an unsupported currency, or if you don’t have enough of a supported currency in your wallet ❌Limited range of only 7 supported currencies ❌Exchange rates include a markup |
2. Check the mid-market rate
The exchange rates available from different currency exchange offices can vary pretty widely. However, the only one you really need to be sure of is the mid-market rate for the currency you need.
The mid-market exchange rate is a good benchmark to use as it’s the rate usually quoted on wholesale markets. You’ll be able to find the rate you need for your currency with a currency converter tool or a Google search.
Once you know the mid-market rate for your currency pair, compare it to the rate you’re offered to switch currencies online or in person. Looking out for providers which use the mid market rate or as close as possible to it for your currency will usually mean you get the best available deal.
3. Beware of ATM rates
Dynamic currency conversion (DCC) - which we touched on earlier - is another common headache for travellers using an overseas ATM.
DCC is when you’re asked at an ATM if you want to pay in your home currency instead of the local currency where you are. Sometimes the question is a little different - for example you may be asked if you’d rather have the terminal manage the currency conversion for you instead of your card or bank.
DCC is worth steering clear of because it pushes up costs. While you do instantly get to see what your travel cash is costing you in your home currency - with no need to do the maths yourself - you’ll usually pay more overall. That’s because the ATM operator can pick the rate used for currency conversion, which will often include extra charges. Choose to pay in the local currency wherever you are, to keep the fees down as far as possible.
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Avoid airport currency exchanges
As a general rule, airport currency exchange services are worth avoiding. While they’re super convenient, you’ll usually run into fairly high overall costs as there’s not any local competition. Even worse, the fees may not even be all that obvious as they could just be included in the exchange rate being used to convert to or from CAD.
You might be able to get a better deal in the end if you wait until you arrive in your destination, and make an ATM withdrawal in local cash there. To make sure you get the lowest overall cost, steer clear of dynamic currency conversion, and pick a card with some fee free international ATM withdrawals, like a travel prepaid card from Wise. We’ll dig into that in detail, in just a moment.
Where to get foreign currency outside Canada
Once you’ve arrived in your destination you’ll have a couple of key options to get travel money - use an ATM or go looking for a physical exchange store. Both options should be easy enough if you’re in a city or tourist area - although using the exchange service at your hotel is usually a pricey option. Head into the city centre if you can, where there’s more competition, when exchanging money in a physical office.
To get the best balance of flexibility and cost, why not get a travel money card from a service like Wise, or through Canada Post, so you can make withdrawals with low or no fees, and get good exchange rates without needing to visit an exchange store.
Best place to exchange currency in Surrey?
The best place for you to exchange currency in Surrey - or elsewhere in the Metro Vancouver area - depends on exactly where you’ll be staying and how far you’re willing to hunt for a good deal. While there are quite a few exchange services in Surrey, we’ve also highlighted a couple in other areas like Port Coquitlam and White Rock, so you can compare your options and pick what’s best for you.
Bear in mind that not all providers publish their exchange rate online so you’ll need to do a bit of research in person or by calling.
Our table shows a few of the top rated travel money options in Surrey, including their Google rating and address, so you can see what other customers think of the services they offer and find them easily.
Find more currency exchange services in Surrey here.
| Name | Address | Phone number | CAD - USD exchange rate | Google Rating |
|---|---|---|---|---|
| Walia Forex | Little India Plaza, 8078 128 St Unit 102, Surrey, BC V3W 4E9 | +1 604 816 3100 | Not available online | 4.9 star |
| BC Wall Street Exchange | 2571 Shaughnessy St Unit 105, Port Coquitlam, BC V3C 3G3 | +1 778 285 4446 | 1 CAD = 0.7355 USD | 4.9 star |
| SNS Currency Exchange | 10252 City Pkwy, Surrey, BC V3T 4C2 | +1 604 723 4812 | Not available online | 4.8 star |
| Money Mart (multiple locations available in the Metro Vancouver Area) | 13711 72 Ave Unit 100, Surrey, BC V3W 2P2 | +1 604 501 2360 | Not available online | 4.5 star |
| Express Currency Exchange | 15223 Russell Ave, White Rock, BC V4B 5C3 | +1 604 542 4266 | 1 CAD = 0.7265 USD | 4.3 star |
| Colombia Currency Exchange | 10230 1152 St Unit 107, Surrey, BC V3R 6N7 | +1 604 498 0226 | 1 CAD = 0.725 1 USD | 4.2 star |
- Correct at time of writing, 11 October 2023 ### How we rated the best places to exchange money
There are plenty of Surrey currency exchange options, so the best one for you will depend on where exactly you’re staying. Our list above covers several centrally located stores and a few in outlying areas, with a focus on services with strong ratings on Google, and a high number of reviews posted.
Bear in mind that customer ratings are dynamic, and service quality can change over time, so doing your own research can confirm which exchange locations are best at the time you need your travel cash.
Factors to consider when choosing an exchange provider in Surrey
Make sure you pick a trusted currency exchange service with decent exchange rates. You’ll be able to use Google or Yelp ratings to see what previous customers say about different providers - but bear in mind that you’ll probably have to call in or phone to get the latest exchange rates.
Shopping around will usually get you the best available deal - or you can save time by picking a provider which always uses mid-market rate currency conversion with low, transparent fees, like Wise.
Tips for finding the best currency exchange rates in Surrey
Before we finish up, here are a few more handy tips for exchanging foreign currency in Surrey, or once you’ve reached your destination:
Travel cards from a provider like Wise or Canada Post let you set your budget in advance, and also offer safety benefits compared to using your bank card abroad
Before you pick your Surrey currency exchange store check the mid-market rate for your currency, and call or look up live rates available to help you find a good deal
It’s usually best to avoid airport currency exchange desks - make an ATM withdrawal on arrival at your destination instead if you need cash instantly
Use the Exiap currency conversion tools to stay updated on current exchange rates
How do I exchange currency after a trip?
Most currency exchange stores will buy back foreign currency if you end up with unused travel money. However, there are a few drawbacks. Firstly, they’ll normally only take high denomination notes, which have to be in good condition. And secondly, you may find you get back less than you spent in the first place.
This happens for a couple of reasons. Exchange rates change all time - and currency exchange services usually have different buy and sell rates. This means that the rate you get when you sell your foreign currency may be different to the one you’d get to buy it. All in all, this can mean you end up paying fees twice when selling unwanted travel money back to an exchange provider.
Instead of risking it, consider getting a prepaid travel card like the Wise card or Canada Post Cash Passport. That way you can add money conveniently, and top up if you run out while you’re away if you want. And with Wise there’s no need to convert all your funds to foreign currency in advance as the card can convert for you at the point of payment with the best available fees and the mid-market exchange rate.
FAQs - best places to exchange currency in Surrey
What is the cheapest way to get foreign currency in Surrey?
There’s no single best way to get foreign currency - in Surrey or on arrival in your destination. Each currency exchange service will have its own rates and fees, which may vary widely. Compare a few different providers online, or to use the tools and reviews on Exiap, to narrow down your search.
Should I exchange money before I travel?
You can exchange your money before you travel, but depending on the service you use, you won’t always get the very best rates. It’s worth knowing that you don’t necessarily have to exchange before you leave. You could get a multi-currency account and card from Wise, or a Canada Post Cash Passport instead. Both are convenient for spending and withdrawals overseas.
Does it matter where you exchange currency?
Yes. Currency exchange services set their own rates and fees - so which one you pick can make a huge difference to how much you have to spend on your trip. It’s worth investing some time in researching the best options for your needs, including exchanging cash and using a specialist travel money card instead.