Where to buy Canadian dollars in France at the best price?

If you need Canadian dollars while living in France, you have several options: order them from your French bank, use a currency exchange office, or wait until you arrive in Canada to withdraw them from an ATM. But which solution is the most cost-effective?

Each method has advantages and disadvantages, but they share one thing in common: high costs. Whether you use a bank, post office, exchange office, or ATM, you’ll often face extra charges.

The surcharge comes from commissions and the marked-up exchange rate most providers apply when selling foreign currency.

To avoid paying too much, you can either use a provider that converts at the mid-market exchange rate, or withdraw directly from an ATM abroad.

With Wise, you can use a Visa debit card to make payments and withdrawals in Canadian dollars at the mid-market exchange rate, without hidden markups—helping you save on every transaction.

Discover the Wise card

How to choose the best method in France?

Check the real exchange rate between the euro and the Canadian dollar

Before buying Canadian dollars, always check the mid-market exchange rate. You can do this with the Wise currency converter.

Most banks and exchange offices add a margin to this rate when selling currency. That’s how they make money from the transaction.

Whenever possible, use a service that works with the mid-market exchange rate.

Questions to ask before converting euros into Canadian dollars

If you don’t have access to a provider using the mid-market rate, ask yourself:

• What rate is being offered? Compare it to the online simulator. If there’s more than a small difference, consider another option.
• How much will I actually receive? Check the final amount in Canadian dollars after exchange and commissions. If you lose more than 10% compared to the simulator, look elsewhere.
• “Zero commission” — is it really free? Often the cost is hidden in the exchange rate. The more you exchange, the more you lose.
• Is it safe? Avoid small or unfamiliar exchange offices, especially when carrying large amounts of cash.
• How long will it take? At an exchange office, you get money immediately. At a French bank, it can take up to 10 days.

Where can you exchange euros into Canadian dollars in France?

Currency exchange offices

Exchange offices are easy to find in France, especially in airports, train stations, and tourist areas.

But commissions are often high, and exchange rates less favorable. If you must use one, avoid tourist hotspots—offices away from busy areas usually offer better rates.

At the Post Office

Since 2017¹, La Poste no longer sells foreign currency directly. Instead, La Banque Postale offers international bank cards for payments and withdrawals abroad.

At your French bank

You can order Canadian dollars through your bank advisor. Delivery usually takes one week to 10 days.

Banks are reliable, but costs add up:

• Exchange rate margin: French banks rarely use the mid-market rate. They apply a markup, meaning you receive fewer Canadian dollars.
• Delivery fees: Handling and transporting bills comes with an added charge.

ATM withdrawals abroad

The simplest option is to withdraw directly from an ATM once in Canada. You’ll still face a bank markup and withdrawal fees, but usually less than buying cash in France.

Check your French bank’s fee structure: each withdrawal often includes a fixed fee plus a percentage. Minimize costs by withdrawing larger amounts less often.

Tip: always withdraw in the local currency (CAD). If offered the choice to withdraw in euros (“dynamic currency conversion”), decline—it comes with a worse exchange rate.

Save money with Wise

Using Wise is generally more cost-effective than traditional French banks for foreign currency transactions.

• Wise uses the mid-market exchange rate without hidden markups.
• The first two ATM withdrawals are free up to €200/month. Beyond that, you’ll pay only 1.75% + €0.50 per withdrawal.
• Payments in Canadian dollars are free if you already have CAD in your Wise account and no conversion is required. Otherwise, Wise converts at the mid-market rate with a small, transparent fee.

If you’re moving to Canada, you can transfer money with Wise from your French account to your Canadian account at the mid-market rate, with low fees.

With the Wise Card, you’ll have a flexible and economical solution for payments and withdrawals.

Opening an account is quick: create your Wise account, hold 40+ currencies, and order your card in a few clicks.

More information
on the Wise account

Source:

Last checked on July 20, 2024.

This article is a translation of the original article published in French and was translated within 365 days of publication. While the content has been translated for accessibility, the data and sources referenced have not been updated since the original publication date.