Question 1

How do I exchange currency with RemitBee?

Accepted Answer

Simply sign up or log in, enter the amount you want to exchange, review the live rate, and confirm. Your requested currency will be deposited within one business day.

Question 2

What are the advantages of using RemitBee for US currency exchange?

Accepted Answer

All transactions are done online at one of the best exchange rates available. Signup and sending is easy. Sending can be done on the mobile app or on the website on the go. RemitBee currency exchange gives better rates and deals than Canadian banks, including TD Bank currency exchange, Scotiabank currency exchange, and Royal Bank / RBC currency exchange.

Question 3

Is my money safe with RemitBee?

Accepted Answer

Absolutely. We use 256-bit SSL encryption, two-factor authentication, 24/7 fraud monitoring, and are fully compliant with Canadian regulations (FINTRAC #M09327231).

Question 4

Are there any fees for currency exchange?

Accepted Answer

Transfers over $500 CAD are free. We guarantee no hidden fees or surprise charges, what you see is what you get.

Question 5

Which currencies are available to exchange?

Accepted Answer

At the moment RemitBee exchanges USD/CAD and CAD/USD. In the future more currency pairs will be available for your exchange needs.

Question 6

How are the mid-market exchange and consumer exchange rates different, and what does this mean for my currency exchange?

Accepted Answer

Mid-market exchange rate is basically the real exchange rate between two currencies. It’s what financial institutions, like your bank, use to trade with other financial institutions. Unfortunately, these rates are often only reserved for transfers dealing with a ton of money— more money than the average person would ever deal with. The consumer exchange rate is the rate you’re most likely used to dealing with. The consumer exchange rate is a combination of the market exchange rate plus whatever amount the financial institution (in most cases, your bank) charges in order to make a profit. It’s best practice to use the mid-market exchange rate as a benchmark when you’re looking for the best rates. The closer the exchange rate is to the market exchange rate, the better. RemitBee offers a competitive rate that is transparent and you always know up front how much you will get.

Question 7

Is there a limit on how much I can exchange?

Accepted Answer

Yes, RemitBee has a daily limit on how much you can send. The amount of money you can send daily and monthly depends on your verification level with RemitBee. If you are verified you can exchange up to $250,000 per day.

Question 8

How do RemitBee’s exchange rates compare to banks?

Accepted Answer

We offer highly competitive live mid-market rates that often beat traditional banks and wallets, helping you get more value for your money.

Question 9

Do I need a USD bank account to use RemitBee Currency Exchange?

Accepted Answer

Yes! In order to use our exchange, you must have Canadian bank accounts that hold USD and CAD. Your exchange takes place directly between these bank accounts.
 
 Just login to your RemitBee account and then go to the exchange currency section and connect your bank accounts. If for any reason your bank does not connect, you can reach out to customer care and they can manually add the bank information for you.

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