Frequently Asked Questions

Why should I use Unicash Mercantile and not a regular bank?

Unicash Mercantile will save you money through better exchange rates, no commissions and no hidden fees.  You'll always receive a personal and efficient service as well.


Are there any transaction fees?

There are no fees for foreign exchange transactions, with the exception of a flat rate charged to send wires.


Can I get interbank rates or a better rate for large quantity orders?

Interbank rates are quoted between large international banks on multimillion dollar transactions.  Banks typically add a substantial mark up when dealing with clients.  We offer the best foreign exchange rates. Regardless of size, each transaction will be reviewed individually to provide the most competitive rate.


How much time in advance do I need to order foreign currency or book a wire transaction?


We can accommodate most foreign currency transactions on the same day. Wires should be booked no later than 3PM for same day processing. Note that large foreign currency orders should be placed at least one day in advance.


When am I required to provide ID and what is acceptable?

  • Unicash Mercantile is committed to adhering to all regulatory requirements as set out by the Financial Transactions and Report Analysis Centre of Canada (FINTRAC – www.fintrac.gc.ca)
  • ID is also required when opening an account with Unicash Mercantile.
  • Acceptable IDs include Driver's Licence, Passport or other acceptable government documents (Provincial Health Cards are not accepted).