Currency Exchange At Montreal Airport: What You Need To Know

Montreal-Trudeau International Airport (YUL) is located 20 km west of Downtown Montreal and is considered one of Canada's finest airports. It offers currency exchange services to cater to the needs of international travellers. While currency exchange services at the airport are convenient, they may not always offer the best rates and lowest fees. It is recommended to do some research and compare different options to get the most favourable deal. This includes considering alternatives such as using a multi-currency account, ordering currency online, or withdrawing cash from ATMs, which can often provide better exchange rates and lower fees.

Currency exchange at Montreal Airport

Montreal-Trudeau International Airport (YUL), also known as Montreal-Trudeau, is located 20 km west of Downtown Montreal. The airport offers currency exchange services for passengers, which can be especially useful for international travellers who need local currency. While the airport does provide currency exchange, it is recommended that travellers compare options before exchanging money at the airport to ensure they get the best deal. Airport currency exchange services often have higher fees and less favourable exchange rates due to a lack of competition.

Montreal Airport has several currency exchange options, including over-the-counter services where travellers can exchange money by visiting a currency exchange counter and paying in cash or with a card. Additionally, some providers offer online pre-order services, allowing customers to order foreign currency online and collect it at the airport. This option can provide better exchange rates and ensures that the desired currency is available.

Montreal-Trudeau International Airport has seven International Currency Exchange (ICE) offices that offer Click & Collect services. Passengers can book their currency online and pick it up at the airport. These offices offer over 25 international currencies, including American (USD), Mexican (MXN), and European (EUR) currencies.

It is worth noting that using a multi-currency card or travel card can often provide a more cost-effective solution than exchanging physical currency at the airport. These cards offer flexible spending and withdrawal options with low overall costs and fair exchange rates. Additionally, withdrawing cash directly from a trusted ATM operator can result in a fairer exchange rate, especially if charged in the local currency (Canadian dollars).

Exchange rates

Montreal-Trudeau International Airport (YUL) has currency exchange services available for passengers. The airport has seven International Currency Exchange (ICE) exchange offices, which offer American (USD), Mexican (MXN), and European (EUR) currencies. These currency exchange offices are convenient for travellers who need to exchange money quickly upon arrival or departure.

However, it is worth noting that airport currency exchange services are not known for offering favourable rates, and the fees can be high. The overall costs of exchanging funds at the airport can be expensive due to high fees and uncompetitive exchange rates. Therefore, it is recommended to compare a few options before deciding to exchange money at Montreal Airport.

One alternative is to use a multi-currency card from Wise, which offers conversions at the mid-market exchange rate without any markups or hidden fees. Withdrawing cash from a trusted ATM operator is another option, as it often provides a fairer exchange rate. When using an ATM, it is advisable to choose to be charged in the local currency, in this case, Canadian dollars (CAD), to avoid paying extra fees.

Additionally, monitoring the exchange rate and converting money when it is relatively low compared to your home currency can help you get a better deal. Different companies offer varying exchange rates, so it is beneficial to do your research and consider factors such as the mid-market rate and any applicable fees.

International Currency Exchange (ICE) offices

The International Currency Exchange (ICE) has offices at the Montréal-Trudeau International Airport (YUL) in Dorval, Québec. The airport boasts four ICE service points where travellers can exchange foreign currency. ICE also offers a "Click & Collect" service, which allows customers to book their currency online and then pick it up at the airport. This service provides access to exclusive rates for online orders.

ICE exchange offices at Montréal-Trudeau International Airport offer American (USD), Mexican (MXN), and European (EUR) currencies. These offices are open every day of the week from 4:30 AM to 2:00 AM.

ICE has been providing foreign exchange services for over 50 years and has more than 30 locations across Canada, including most major airports. They prioritise making the process of exchanging currency straightforward and stress-free for travellers.

To contact the ICE offices at the Montréal-Trudeau International Airport directly, you can call them at +1 (514) 828-0068.

Currency exchange alternatives

Montréal-Trudeau International Airport (YUL) has currency exchange services available at the International Currency Exchange (ICE) exchange offices. ICE also offers a "Click & Collect" service, which allows you to book your currency online and pick it up at the airport.

If you are looking for alternatives to exchanging currency at the airport, there are several options available. Firstly, you can consider using alternative currencies, such as local or community currencies, which are used within specific localities or communities. These currencies are often used to supplement or complement national currencies and can be useful in certain contexts. Examples include the Community Exchange System, WIR, Friendly Favors, and Tibex in the Lazio region of Italy. It's important to note that these currencies may not be legal tender and their use depends on the agreement between the parties involved.

Additionally, there are various online platforms and services that provide currency exchange alternatives:

• Wise: This service offers mid-market exchange rates, low fees, and fast delivery.
• XE Money Transfer: XE supports transfers to banks in over 130 countries.
• PayPal and Xoom: These services are useful if you prefer sending money to a PayPal account or want more delivery options. Xoom also allows recipients to withdraw cash in their local currency.
• OFX: This Australian company has no fees for transfers from the US and provides a user-friendly website and app, as well as 24/7 phone support.
• Remitly: This US-based company focuses on making it easier for individuals to send money back to their home countries, offering a wide range of payout options, including mobile wallets and cash collection.
• Binance: A global cryptocurrency exchange platform.
• Coinbase: A digital currency wallet and platform that supports various digital currencies, including Bitcoin, Ethereum, and Litecoin.

Advantages of airport currency exchange

Yes, Montreal Airport does offer currency exchange services, which can be extremely beneficial for travelers arriving in or departing from the city. Here are several advantages of using airport currency exchange services:

Convenience and Accessibility: Airport currency exchange booths are conveniently located within the airport terminals. This accessibility is especially advantageous for travelers who may have forgotten to exchange money before their trip or those who need local currency immediately upon arrival. You can easily exchange your money without having to deviate from your travel route.

Extended Operating Hours: Many airport currency exchange booths operate with extended hours, often aligning with flight schedules. This means that you can access their services early in the morning or late at night, which is particularly useful for travelers with connecting flights or those arriving at unusual times. The extended hours ensure that you can obtain local currency when you need it, providing peace of mind and convenience.

Variety of Currencies: Airport currency exchange booths typically offer a wide range of foreign currencies, catering to various destinations worldwide. This variety allows travelers to obtain the specific currency they need for their trip. Whether you're heading to Europe, Asia, or beyond, you can likely find the appropriate currency at the airport exchange booth, saving you time and effort in searching for specific currency exchange services elsewhere.

Competitive Exchange Rates: While airport currency exchange rates may not always be the absolute best, they are often very competitive and fair. The rates offered are usually reasonably close to the mid-market rate, especially at larger international airports. Given the convenience and accessibility of airport exchange booths, the rates can be advantageous, especially if you need a small amount of local currency to cover immediate expenses like transportation or a meal upon arrival.

Reliability and Security: Airport currency exchange booths are generally safe and reliable. They are often operated by established financial institutions or reputable companies that adhere to strict regulations and security measures. This means that you can trust the authenticity of the currency you receive and feel confident that your transaction will be handled securely. The presence of professional staff and on-site security measures at airports also adds to the overall safety of exchanging money in a public space.

Additional Services: Some airport currency exchange booths provide additional services that travelers may find useful. This can include foreign currency prepaid cards, international money transfers, and even travel insurance. These supplementary services can be convenient for travelers who want to manage multiple financial needs in one go, saving them time and effort during their trip.

Frequently asked questions