Key takeaways
- Your margin is the gap between your rate and the mid-market rate.
- Over 2% usually means room to save.
- Under 1% is competitive for most businesses.
- Your Treasi score benchmarks FX alongside cards, payments and banking.
Step 1: Work out your margin
Divide the rate on a recent conversion by the Bank of Canada rate for the same day, then subtract 1. That percentage is your margin.
Step 2: Compare with published pricing
| Benchmark | Margin above market |
|---|---|
| Big-bank posted rate (27 Oct 2026) | About 3.1% |
| OFX on a C$10,000 CAD/USD transfer | About 1.6% |
| Wise (CAD conversions) | From 0.48% |
| Venn Essentials | From 0.45% |
Step 3: See what it means for you
| Your margin | What it suggests |
|---|---|
| Over 2% | Likely paying well above specialist pricing |
| 1–2% | Some room to save, especially on regular payments |
| Under 1% | Competitive for most businesses |
These bands are a rough guide based on published pricing, not an industry standard.
A worked example
On C$500,000 of yearly conversions, a 3.1% margin costs about C$15,500, 1.6% about C$8,000, and 0.48% about C$2,400.
Benchmark everything at once
Your Treasi score benchmarks your FX costs and currency risk alongside your corporate cards, payments and banking, and shows the providers that could lower them.
Providers that can help
Compare these providers, then request a free, no-obligation quote.
Mid-market rate with fees from 0.48%
From 0.48% Conversion fee
Pricing quoted to your volume
Forwards & options HedgingFAQs
What is a normal FX margin for a business?
It varies widely. Big-bank posted rates were about 3.1% above market on 27 October 2026, while specialists publish fees from about 0.45% to 0.5% for CAD conversions.
How do I calculate my FX margin?
Divide the rate you received by the Bank of Canada rate for the same day and subtract 1. The result is your margin as a percentage.
Is under 1% a good FX margin?
For most businesses, yes. Under 1% is competitive compared with typical bank pricing, though specialists can be lower still.
How can I benchmark all my finance costs?
Get your free Treasi score. It benchmarks FX, corporate cards, payments and banking and shows where you could save.
Sources: Bank of Canada daily exchange rates; National Bank posted exchange rates, 27 Oct 2026; Wise, Venn and OFX published pricing.