To order currency call FX Connectors at 250-380-7888, or fill out our online order form. Forms are processed daily during regular business hours. If we don't have the currency on hand we require a week to 10 business days to order it in.
Bank exchange rates are generally between 2-6% higher than currency exchange rates. Banks also have higher service charges than a currency exchange. Many customers prefer to go to a currency exchange for fast convenient service rather than waiting in long bank lineups. Customers can save both time and money on their foreign exchange needs.
The rates shown on Google and other media are often based off the mid market rate. There is always a spread on both the buy side and sell side. The spread allows banks and currency exchanges to make money while providing a service. FX Connectors' currency rates follow the spot market rates, which are derived from several financial institutions who ‘bid’ and ‘offer’ foreign currency contracts.
FX Connectors generally updates its cash rates at approximately 8:30 every morning. The rates may be updated throughout the day to reflect significant market fluctuations. The rates for non-cash currency exchange change every few seconds, as determined by the market.
FX Connectors accepts payments made in cash, debit card, certified bank drafts and Interac e-transfers. Clients with business accounts may use business cheques, and wire transfers.
We advise clients to take a combination of cash and credit card. Bring enough cash in case you run into debit card or credit card problems. Both VISA and MasterCard charge a 2.5% conversion fee on every foreign currency transaction. Plus, Visa and MasterCard's foreign exchange rates are generally much higher than at FX Connectors.
Each time you use a foreign ATM, you will get charged between $5.00 and $10.00 per transaction. Both the foreign ATM and your bank at home will charge you for the transaction.
Depending on supply, it can often take between 2 and 10 business days after an order has been processed for FX Connectors to receive the foreign cash order.
Wire transfers within Canada and the U.S. take 1-3 business days to process. International wire transfers may take up to 7 business days, depending on the bank or financial institution on the receiving end.
You will receive the going exchange rate on the day of pickup. Customers and Corporate clients have the option to lock in an exchange rate at the time of purchase for settlement in the future. In order to lock in an exchange rate, a deposit of 25% is required. All customers have the option to either “float” the exchange rate or “lock” in the exchange rate. This must be communicated to FX Connectors staff at the time of transaction.
It is recommended. While FX Connectors carries most currency on-hand, it is advisable to call ahead to avoid disappointment.
FX Connectors’ policy is to ask for government issued picture identification on all non-cash transactions. If performing a cash exchange equal to, or in excess of, CAD $3000, government issued picture identification is required by Canadian law. Further ID and information is often required in order to set up a wholesale client account. All identification and information is kept confidential.
We do not have a minimum or maximum. Clients are advised to call FX Connectors for cash requests equivalent to, or over, CAD $10,000 to ensure availability.
Unfortunately we do not accept foreign coin. The only coins that we accept are Canadian and U.S. All coin must be rolled and organized. Periodically when storage space is limited, FX Connectors may not be accepting rolled USD and CAD coin. Please contact us before arriving at our locations.
There are several parking options available:
You can park along Wharf St. or in the large parking lot beside our building. This a paid parking lot.
You can park in the lower Yates St. city parkade. (One block away from us) The first hour at all city parkades is free.
Many of our customers also park across the Johnson Street Bridge along Songhees Road and enjoy a scenic walk to our Wharf St. location. Parking along Songhees Rd is free but on a limited time basis.
We unfortunately do not accept credit cards as a form of payment. The high percentage merchant fees negate any savings on the foreign exchange transaction. We can however accept debit cards, cash, e-transfers and bank drafts payable to FX Connectors Ltd. If paying with a debit card, please be sure to double check your purchasing limits.
