If you thought the Halifax Airport currency exchange service was too good to be true, your suspicions are correct. While the company operating the service is legitimate, there are plenty of other reasons to be concerned. Read on to learn more.
Who Operates The Halifax Airport Currency Exchange?
A company called International Currency Exchange (ICE) operates the foreign exchange booths in Halifax Stanfield International Airport.
The company has been in existence for more than 40 years, with its roots in London, England. A substantial chunk of their locations is located in airports like Halifax Stanfield International. This should provide some insight into what they’re really selling: convenience.
ICE Halifax Airport Locations
Unlike larger airports, ICE only has one location in Halifax Stanfield. You’ll find them in the main lobby, pre-security. Their hours are 5 AM to 10 PM daily.
In addition to foreign exchange services, they offer travel insurance, lottery tickets, and postal service.
The Problem with ICE in Halifax Airport
The primary issue with ICE’s Halifax International Airport currency exchange service is their lack of transparency regarding what they charge for their services. Most financial institutions include an upcharge of 2.5% in their currency exchange rate. That’s why you always end up with substantially less money than you’d expect based on the conversion rates that Google shows.
ICE also charges an extra fee for their services -- only they’re not up front as to what that fee is. As you’ll find out shortly, many customers are unfortunately shocked to see how much ICE gouges them compared to other foreign exchange services.
This lack of clarity concerning their markup allows ICE to be more flexible in what they charge. They protect this flexibility by including a disclaimer alongside their rates which informs customers that orders placed via phone or at physical locations will have different rates than what you see online.
The catch? In their Frequently Asked Questions section, they also acknowledge that ordering your conversion online does not lock in your rate. Rather, ICE will update the quote sooner to your pickup date. That’s right, you can’t have the money delivered to your bank account; they’ll only give it to you in cash.
This presents a number of security risks for travelers understandably wary of carrying large sums of cash with them to a foreign country.
Unpredictable Fees Can Add To Last-Minute Headaches
A large part of ICE’s constituency is travelers looking for a last-minute solution to their currency exchange problems at the airport. But that convenience comes at a steep cost. Online reviews indicate that ICE makes good on their promise to charge “extra fees” (although, again, it’s unclear what those are) for in-person service.
One reviewer noted a $9.95 transaction charge at one location on top of their already marked-up exchange rate. Other reviewers have noted that ICE’s rates and these fees mean their service results in a $30 to $100+ gap between the interbank exchange rate (what you see on Google) and what you actually get with ICE.
The Verdict
Understandably, you may occasionally find yourself in situations where the ICE Halifax Airport currency exchange service is your best hope. Perhaps you’re taking a last-minute emergency trip and really didn’t have the time to spend finding a better deal.
For your wallet’s sake, however, we recommend that you not rely on ICE for your currency exchange needs if you can avoid it. They sell convenience, not fair or transparent rates. There are much better (and even more convenient) options out there.
Why Use Knightsbridge Instead Of ICE?
Knightsbridge Foreign Exchange is a great alternative to the International Currency Exchange service. Here are a few reasons.
Knightsbridge Offers Better (And More Transparent) Rates
At Knightsbridge, we’ve helped customers save more than $25 million exchanging currencies. Unlike other companies (including ICE), we have a best rate guarantee. If you find a rate better than ours, we’ll match it.
For comparison, with a $2,000 exchange, you can expect to save $53 using our service versus a traditional bank. View more detailed comparisons here.
When you secure your order with us, we’ll give you a detailed breakdown of what the fees are, why they’re there, and demonstrate how they are better than rates you’ll find anywhere else.
We Offer Ultimate Convenience and Flexibility For Your Money
With ICE, you are limited to receiving your money in cash at the airport. This presents security risks and, at pre-security locations, can raise unwanted attention (and even taxation) for larger amounts of money.
With Knightsbridge, we operate entirely online and will send your converted money to any bank account. That includes international ones.
This allows you to withdraw your funds at any ATM once you’ve arrived in your destination country. It’s safe because it doesn’t involve carrying large sums of cash with you in a foreign country.
We Have Stellar Online Reviews
ICE’s reviews (and even one formal complaint on their Better Business Bureau website) indicate hordes of unhappy customers. In contrast, Knightsbridge has a five-star rating on the BBB website and has been featured positively in several publications, including The Toronto Star and The Globe and Mail.
Conclusion
ICE’s Halifax Airport currency exchange service offers convenience but poor rates and a lack of transparency. In addition to their poor rates (which often exceed what you would find at other financial institutions), you can expect to pay an uncertain amount in fees for the luxury of using their service in Halifax Stanfield International Airport.
For much better service and rates, check out Knightsbridge Foreign Exchange. Getting set up with us is easy and your money typically lands in your bank account the same or next business day.
Best Things To Do In Halifax
Who says the fun times need to end after you return to Halifax? Your vacation might be over but if you used Knightsbridge instead of ICE for your currency exchange, you deserve to celebrate!
Here are some of the best things to do in Halifax.
#1. Halifax Waterfront Boardwalk
Take a stroll on the Halifax Waterfront Boardwalk for stunning views and a walk through history. Be sure to stop by the Canadian Museum of Immigration at Pier 21, which will give you insight into the landing point for more than one million immigrants to this great country.
#2. Halifax Public Gardens
The Halifax Public Gardens is North America’s oldest true Victorian Garden. It dates all the way back to 1867 and contains numerous historical landmarks. If you’d rather just enjoy nature, there’s plenty of that too.
#3. Halifax Central Library
Bookworms and architecture nerds alike will love the Halifax Central Library. As its name suggests, it is Halifax’s flagship library. The award-winning building contains cafes, artwork, an auditorium, and plenty of displays representing its environmental sustainability.
#4. Alexander Keith’s Brewery
Alexander Keith’s Brewery in Halifax is one of North America’s oldest fully-functional breweries. They churn out small brews of craft beer, making for a true one-of-a-kind experience.
#5. Point Pleasant Park
If you’d prefer to celebrate in solitude, Point Pleasant Park in Halifax is for you. It’s a historic 75-hectare plot of land with plenty of benches for sitting by the ocean. If you enjoy walking, there are nearly 40 kilometers of crisscrossing trails to enjoy.