Question 1

What is Remitbee Currency Exchange, and how do I use it to convert USD to CAD?

Accepted Answer

You can easily exchange money using your bank accounts. First, connect Canadian USD account you want to pay with. Next, connect or select your Canadian CAD account, where we'll deposit exchanged CAD amount. Once both accounts are linked, review all exchange details and confirm transactions. Exchanged CAD amount will be deposited into your bank account within two business days.

Question 2

Can I deposit money into Canadian bank account?

Accepted Answer

Yes, with Remitbee you can deposit a converted amount into any CAD account in Canada under your name.

Question 3

Is there a cost associated with exchanging money?

Accepted Answer

There is no charge. Remitbee Currency Exchange allows you to exchange your money quickly and conveniently for ZERO fees.

Question 4

Which currencies are available for the exchange?

Accepted Answer

Currently, Remitbee trades USD for CAD and CAD for USD. In the future, more currency pairs will be available for your exchange needs.

Question 5

How do the market exchange rate and consumer exchange rate relate to my currency exchange?

Accepted Answer

The market exchange rate is the rate at which two currencies are exchanged between banks. It's the rate used when financial institutions do business with one another. This is what you see when you do a Google search for a rate, for example. Unfortunately, these rates are often reserved for transfers involving vast amounts of money — much more than the average person will ever need to exchange. The consumer exchange rate is the one you're probably most familiar with. The customer exchange rate is made up of the market exchange rate plus whatever profit margin the financial institution (in most cases, your bank) wants to make. When looking for the best prices, it's best to use the market exchange rate as a benchmark. The more closely the exchange rate resembles the market rate, the more cash you’ll get.

Question 6

How much can I exchange? Is there a maximum amount?

Accepted Answer

Yes, Remitbee has a maximum limit on how much you can transfer. Your Remitbee verification level determines the amount of money you may ask to change each day. If we have tested and verified you, you can exchange up to $50,000 a day..

Question 7

Is it true Remitbee’s currency exchange rates are better than the banks in Canada?

Accepted Answer

Remitbee, unlike banks, specializes in currency exchange and can do it at a lower rate. Big banks profit from the fact that the majority of bank customers are unaware that there are other choices for foreign currency exchange. As a result, they continue to charge higher prices than other services because customers have not known any better for many years. Banks hide their high exchange rates behind complex fee systems, leaving customers unaware of the amount of money they're losing. Transparency is guaranteed with Remitbee: what you see is exactly what you get, with no hidden charges..

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