Currency & FX Fees Calculator
The exchange rate is the fee. See what converting money really costs you in Canada — the hidden spread on bank, credit-card, and Wise-style conversions — measured against the true mid-market rate.
What you get across fee scenarios
Same amount, same mid-market rate — only the provider's margin changes.
All currencies at this amount
What your money converts to in each currency — at mid-market and under the selected fee scenario.
| Currency | Mid-market rate | At mid-market | You get | Cost |
|---|
How this is calculated
The spread is the real fee
The mid-market rate is the true midpoint between what buyers and sellers pay — the rate you see on Google or xe.com. Your provider quotes a worse rate; the gap is the spread, and it's where most of the cost hides. With a margin m, the amount you actually receive is amount × mid-rate × (1 − m), and the fee in the target currency is amount × mid-rate × m. The effective rate you really got is mid-rate × (1 − m).
The scenarios
Mid-market (0%) is the theoretical no-fee benchmark. Typical bank (2.5%) reflects a big-5 Canadian bank's built-in spread — plus a flat wire fee of roughly $10–30 on transfers that this tool does not add. Credit card abroad (2.5%) is a typical foreign-transaction fee on top of the network rate; a handful of no-FX-fee cards charge 0%. Wise-style (0.6%) reflects specialist services that pass on close to the mid-market rate. Custom lets you enter the exact spread your provider quoted.
The DCC trap — always pay in local currency
When a foreign terminal, ATM, or website asks whether to charge you in Canadian dollars, that's dynamic currency conversion. It looks convenient but the merchant's bank sets the rate and adds roughly 3–7% — worse than your own card. Always choose the local currency (EUR, GBP, JPY…) and let your card network do the conversion.
Where to get better rates
For transfers, specialists (Wise, OFX, Knightsbridge) beat banks by 2%+. For large CAD↔USD amounts, Norbert's Gambit through a brokerage (using an interlisted ETF like DLR) converts at essentially the mid-market rate for only trading commissions. A no-FX-fee credit card is best for travel spending. Note that the CRA/FINTRAC require reporting on international transfers of $10,000+, and gains on foreign-currency holdings can be taxable.
What this doesn't model
Flat wire/transfer fees, ATM withdrawal fees, tiered rates that improve on large amounts, or how rates move minute to minute. Rates are indicative reference values as of the date shown above. If you hold foreign currency as an investment, gains may be taxable — see the capital gains calculator.