How to Convert Canadian Dollars to Israeli Shekels?

Last Updated: 25 Mar 2023

You get more money when you convert Canadian dollars to Israeli Shekels at competitive exchange rates. Find out the best way to send money to Israel now.

If you're looking to buy Israeli Shekels (ILS), it's important to find the best exchange rates. Due diligence is required to avoid paying unnecessary extra costs.

For example, banks profit from hidden exchange rate markups, which can be as high as 5%. This might not seem like a lot, but you could lose hundreds and thousands of dollars when converting large amounts of currency.

Currency conversion losses also happen due to rate fluctuations inherent in foreign exchange markets. That means you may have a lot to deal with, between sneaky bank fees and unpredictable exchange rates, but that's where a specialist provider like MTFX can help.

How Much Does it Cost to Buy Israeli Currency?

The CAD / ILS exchange rate can be all over the place, so the cost of buying Israeli currency often depends on when you do it. If the exchange rate is favorable, it's cheaper to convert currency from CAD to ILS and vice versa.

In addition, it will cost more to buy foreign currency if your provider adds a markup to your exchange rate.

International money transfer fees are also another factor to consider when looking for the cheapest way to send money to Israel.

Watch out for providers advertising 'zero' commission or no fees because that usually means hidden charges. To avoid surprises, it's best to go with a provider that offers FX rate transparency and is upfront about the fees they charge.

Need to convert Canadian dollars to Israeli Shekels? Use the MTFX rate calculator to determine the cost. MTFX uses the real rate and offers low transfer fees, so you can be sure you're getting a good deal on your currency conversion.

When is the Best Time to Exchange Canadian Dollars to Israeli Currency?

The best time to transfer Canadian dollars to Israeli Shekels is never set in stone. That's because FX markets are inherently unpredictable, so this exchange rate can change quickly.

For example, the CAD/ILS exchange rate was at 2.50549 in early 2023, but forecasts put it at 2.57130 in one year. Ideally, you would want to exchange currency when it means getting more Israeli Shekels for the same amount of dollars.

Luckily, you don't have to monitor the CAD/ILS exchange rate to take advantage should it move favorably. MTFX offers several tools, such as currency rate alerts, so you'll be notified when your desired rate has been reached.

You can also use currency forward contracts and market orders to minimize the risk of always/fluctuating exchange rates.

What is the Best Way to Convert Canadian Dollars to Israeli Currency?

The best way to convert Canadian dollars to Israeli Shekels goes beyond competitive exchange rates and low transfer fees. You also need a provider that throws value/added services into the mix.

Diversified organizations or non/specialist providers like banks treat overseas transfers as more like a secondary business. This explains why sending money across borders to a foreign bank account has been a traditionally slow and expensive task, involving a lot of manual paperwork.

Things got better with the arrival of specialist providers like MTFX, dedicated to only one business.

Your MTFX account gives you access to FX tools and guidance from currency experts to make the most of your money. You can also set up regular payments, make batch payments, and open a multi/currency account.

Therefore, you can now enjoy cheaper, faster, and more convenient currency conversions online.

How to Transfer CAD to ILS?

MTFX is an online international money transfer service that lets you convert Canadian dollars to Israeli Shekels quickly and easily in three simple steps.

Create a new account or log in to an existing account to view and monitor live exchange rates.
Add funds to your account and set up your transfer by choosing the currency and entering the amount. You also need to enter the required bank details.
Make your payment and start tracking it online.

How Long Does it Take to Transfer Canadian Dollars to Israeli Shekels?

When sending funds to an Israeli bank account, it's only fair for your recipient to get the money sooner rather than later.

Fortunately, MTFX's international transfers are fast and easy. Most transfers are delivered within 24/48 hours, and express payments usually arrive on the same day.

Convert your Canadian Dollars to Israeli Shekels Today

MTFX's online international money transfer services offer you competitive exchange rates and low transfer fees that are tough to match.

You also get unbeatable support with access to expert guidance and specialist tools. It's everything you need to convert currency quickly and efficiently while getting the most from your money.

Open an account today with MTFX to convert your Canadian dollars to Israeli Shekels and enjoy competitive CAD/ILS exchange rates, plus low transfer fees.

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Sources

Canadian Dollar, Israeli Shekel