For amounts greater than USD 200, you will need either a passport (in case of NRIs/foreign visitors) or another Govt. issued photo ID such as driving license, voter's card, etc. If the amount exceeds USD 5,000 in cash or exceeds USD 10,000 in total, you will also need a Currency Declaration form.
Which payment methods do you accept?
Debit, credit, and deferred debit.
Depending on your card and issuing bank, credit card payments (and very occasionally, debit card) can be interpreted by your bank as a cash withdrawal, and they may charge you additional bank fees.
How much will I save by using Eastern Xchange?
Depending on the amount, you can save hundreds of dollars. A client can save 1% to 3% on a transaction, depending on the currency, when compared to the bank's currency exchange rate. The exchange rate you get from your bank may include a substantial markup when you actually transact and convert currency. We do not charge service fees and our currency exchange rates are posted on our website. You have complete transparency and certainty when you do business with us. We are able to offer highly competitive currency exchange rates because of our significant purchasing power and low overhead. Check our exchange rates page or use our currency calculator to see how much you can save with us today. We offer highly competitive currency exchange rates because of our significant purchasing power and low overhead.
Is there a minimum or maximum limit for each exchange transaction?
At our branches we do not have a minimum limit for transactions, but there is a maximum limit of $40,000 CAD (or $30,000 USD) per day per person. For online orders, our minimum limit is $90.00 and maximum limit is $3,000 CAD.
Will I receive a hard copy confirmation of the transaction?
Yes, we will provide you with receipt that details the received and submitted funds as well as the exchange rate.
How come Eastern Xchange can provide better rates than the big five Canadian banks?
At Eastern Xchange, our exclusive focus is foreign currency exchange. For the banks, however, the foreign exchange business is only one of many services offered. Also, our significant purchasing power and low overhead help us beat the bank rates every time.
How much do you charge per transaction?
Nothing. We do not charge any commission fee. Wether exchanging $1 or $10,000, we will provide the same great service for no commission fee.
Can I pay by US dollars for my exchange?
Yes, you can exchange your US dollars directly to any of our foreign currencies. Also you can also receive US dollars if you are selling a foreign currency. This way you will save money by not having to exchange twice.