Frequently Asked Questions
How much will I get charged if I withdraw cash out of a foreign ATM.
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.
How long does it take for a wire transfer to arrive at its destination?
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.
What happens if I order currency from FX Connectors on one day and pick it up on another day?
You will receive the going exchange rate on the day of pickup. Corporate clients with special accounts may have the option to freeze the exchange rate at the time of purchase, at FX Connectors’ discretion.
How long will it take FX Connectors to receive the foreign cash I’ve ordered?
It takes 1-2 business after an order has been processed for FX Connectors to receive the foreign cash order.
How do I order currency from FX Connectors?
To order currency call FX Connectors at 250-380-7888, or fill out this order form online. Forms are processed daily during regular business hours. If we don't have the currency on hand we require two business days to order it in.
Do I need to call FX Connectors in advance to check foreign cash currency availability?
It is recommended. While FX Connectors carries most currency on-hand, it is advisable to call ahead to avoid disappointment.
Do I need to present my identification when performing a currency exchange with FX Connectors?
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.
Does FX Connectors have a minimum or maximum transaction limit?
No 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.
How often does FX Connectors change its currency exchange rates?
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.
Why are FX Connectors’ currency exchange rates different from those posted in the media?
The rates shown in the newspaper and other media are often based off a single quote from the previous trading day, and from only one financial institution. FX Connectors' currency rates follow the spot market rates, which are derived from several financial institutions who ‘bid’ and ‘offer’ foreign currency contracts.
How much better are FX Connectors currency exchange rates compared to the banks?
Depending on the amounts being converted and currency, on average FX Connectors' rates are between 25 and 200 basis points better than the banks.
Does FX Connectors accept foreign coins?
No. The only coin that we accept is Canadian and U.S.
What forms of payment does FX Connectors accept?
FX Connectors accepts payments made in cash, debit card, and certified bank drafts. Clients with business accounts may use business cheques, and wire transfers.
Is it better to travel to a foreign country with cash or with debit/credit cards?
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.
(FX Connectors Ltd.)
Suite 106 - 1208 Wharf Street
Victoria, BC V8W 3B9