Where to Find the Best Currency Exchange Rates in Quebec City

Getting a great exchange rate can make a big difference, whether you’re visiting Quebec City or sending money abroad. 

Instead of settling for bank markups or kiosk fees, consider using the following link to find better rates with no hidden costs: https://www.knightsbridgefx.com/currency-exchange-quebec-city/.

In this guide, we’ll cover the best places to exchange currency in Quebec City, from trusted online platforms to local walk-in options, so you can keep more of your money.

1. Online Providers: KnightsbridgeFX & Wise (and Alternatives)

Knightsbridge Foreign Exchange

KnightsbridgeFX is a Canada‑wide online foreign‑exchange specialist registered with FINTRAC and Québec’s AMF. According to their promotional materials, they beat typical bank exchange rates by 1–2% or more, and heavily market their “best‑rate guarantee.”

Users on forums like Reddit report reliable, issue‑free service when converting USD to CAD, especially for larger sums. Funds are typically converted and transferred the same‑day or next business day, and the process aims to be transparent. You get a written confirmation of your rate before sending funds.

Wise (formerly TransferWise)

Wise operates as a fintech travel‑money card and remittance service that uses mid‑market exchange rates with no hidden margin. Reviews suggest it often offers better value than physical exchange kiosks, especially for travelers needing cash or small conversions.

While Wise may not serve large‑sum international transfers directly in Quebec City, their travel card is perfect for getting competitive rates, especially for smaller amounts and quick access. Some guides suggest that Wise may beat most retail shops on net cost, which is great for tourists or students.

2. Physical Currency Exchange Shops in Quebec City

If you prefer to exchange cash in person, Quebec City has a handful of trusted walk‑in bureaus:

• ICE International Currency Exchange has several locations, including the 43 Rue De Buade and Sainte-Anne Street branches. They are a well‑established chain in Canada, though Google reviews vary from around 2.8 to 4.4 stars depending on location
• TCX Bureau de Change, located inside Laurier Québec mall, offers walk‑in service with moderate ratings (~3.5 stars).
• Devises Etrangeres Quebec (also known as Foreign Currency Quebec), at 1127 Rue Saint‑Jean, advertises “no fees,” which often means hidden markups in the rate, though reviews rate it around 4.7 stars, making it the strongest among physical shops.

However, shopfront exchanges generally build in large spreads over the interbank (mid‑market) rate. Many services advertise “no commission” but compensate via unfavorable rates, so you still effectively pay a markup from the fair value.

3. Banks and Credit Unions

Major Canadian banks and credit unions in Quebec City, such as TD Canada Trust, RBC, BMO, and others, allow customers to exchange foreign currency (USD, EUR, GBP, etc.) in person or online. For instance:

• TD offers exchange of over 50 currencies, and allows both in‑branch and online ordering via EasyWeb with pickup at a branch, although not necessarily in Quebec City itself (only Montreal for Quebec province).

While banks offer trusted, secure service, their effective rate often includes a spread of 2–3 percent above mid‑market, meaning significant cost, especially for larger sums. Their cash‑buying rates may be easier for small amounts or last‑minute travel needs, but for larger conversions, fintech providers or specialist exchangers often win.

4. Smart Tips to Get the Best Rates

A. Check the Mid‑Market Rate

Use a trusted rate tool to know the mid‑market (base interbank) exchange rate. Most financial providers price slightly above that; anything close means fewer hidden markups.

B. Watch Spreads, Not Just Fees

Providers advertising “no commission” often compensate via wider spreads. A provider that discloses its spread relative to the mid‑market rate is preferable.

C. Compare Services for Your Needs

• Exchange shops in Quebec City may be convenient for cash and tours, but often cost more overall.
• Online specialists like KnightsbridgeFX often beat banks and shops, especially for sums over $2,000 CAD.
• Banks are the safest but costly.

D. Plan Ahead

Rates fluctuate daily and even intraday. Some services allow locking in a target rate: you can set a trigger, and they execute when the market hits your desired rate, potentially saving more.

E. Have Your ID Ready

Retail and bank exchangers usually require photo ID (passport or driver’s licence), and for larger or online transfers, you may need verified registration and documentation.

5. Case Scenarios: Which Option Fits Your Situation?

Small cash amount for travel

You need some USD or EUR for a weekend in Montreal or NY.

• Devises Etrangeres Quebec may offer a decent walk‑in cash exchange with no commission and strong reviews.
• Alternatively, using the Wise travel card may be cheaper overall if you only need a modest amount and can spend with a card or ATM later.

Medium to large amount (2,000–10,000 CAD)

Transferring funds or converting between USD and CAD for tuition, property, or savings:

• KnightsbridgeFX is often the best value. Their rate guarantee versus banks, transparent confirmations, same‑day or next‑day delivery, and flexibility (e.g. rate alerts) make them ideal for larger sums.

Very large transfers

For converting tens or hundreds of thousands, banks typically offer poor value due to overhead costs, while online specialists maintain lower margin. KnightsbridgeFX frequently advertises 1–2% savings even on large sums. Confirm exact amounts with their quote system.

6. How to Proceed: Quick Comparison Table

Bonus Tips

• Avoid dynamic currency conversion (DCC) at ATMs or stores: it lets merchants charge inflated markups when offering to charge your home currency in situations such as ATM withdrawals abroad.
• Know local currency: Quebec uses Canadian dollars (CAD). U.S. dollars are occasionally accepted by merchants, but at variable, often unfavourable rates, so it’s still best to convert properly beforehand.

With the right approach, you’ll keep more of your money, all while enjoying Quebec City and your travels.

Final Thoughts

If you’re in Quebec City and searching for the best currency exchange rates, start strong by checking KnightsbridgeFX. Their Quebec‑specific page consistently promotes better rates than banks, transparent pricing, and reliable service.

Pair that with competitors like Wise, and a few reputable walk‑in shops for small cash needs, and you can confidently pick the best value for your situation. In every case, always verify mid‑market rates, watch for hidden commissions, and compare providers before you commit.