KnightsbridgeFX vs. RemitBee
Sending money home? We break down the key differences between KnightsbridgeFX and RemitBee, so you can choose the best service for your loved ones.
Intro
Which Money transfer service is best?
The pandemic greatly accelerated the transition to digital remittances, a shift that had already been gaining momentum before COVID-19. Nowadays, digital money transfers are more popular than ever, providing an affordable, secure, transparent, and convenient way to send money home.
Selecting a reliable money transfer service is more crucial than ever. In 2023, approximately 250 million migrant workers sent nearly $800 billion globally, with an average transfer of around $4,200 CAD per person.
In this article, we’ll compare RemitBee and KnightsbridgeFX, two prominent digital money transfer services, to help you choose the best option for regularly supporting your family.
Background
KnightsbridgeFX has been operating since 2009, offering a wide range of foreign exchange services. Like RemitBee, it is a Canadian company that has earned recognition as one of the fastest-growing businesses in the country. By 2018, it generated between 5 and 10 million CAD in revenue. As of 2025, KnightsbridgeFX continues to operate solely online, with no mobile applications available. It also maintains a call center, which plays a crucial role in its currency exchange service, as transactions are still required to be booked over the phone.
Founded in 2015, RemitBee was created in Canada by immigrants for immigrants. Over the years, it has garnered significant recognition from the media and industry experts as one of the most promising fintech companies to watch. The company quickly formed partnerships with some of the world’s top banks to offer its services to Canadians. Originally focused on international money transfers, RemitBee expanded its offerings in late 2020 to include currency exchange services. While it primarily focuses on USD to CAD and CAD to USD, it plans to broaden its currency options in the near future. As of 2025, RemitBee continues to innovate and grow, providing a range of financial services designed to meet the evolving needs of its users.
Exchange rates
Exchange rates fluctuate daily so make sure to compare the exchange rate you’re being offered with the real (or mid-market) exchange rate on Google. For example, if you’re looking for the real exchange rate from CAD to USD, just put “CAD to USD” into Google search.
As of 10 May 2021, the interbank rate was 1.00 USD → 1.4381 CAD.
Now let’s compare the two as of April 1, 2025:
KnightsbridgeFX exchange rate for CAD/USD
1.00 USD → 1.44 CAD
RemitBee’s exchange rate for CAD/USD is
1.00 USD → 1.432 CAD
Why RemitBee Offers Better Exchange Rates
Overall, Remitbee offers a better exchange rate. Canadian banks normally charge a 2.5 percent or higher premium over the interbank rate. This rate is the one you see when you search for the current rate online. It’s usually an average of the buy and sell exchange rates for huge amounts between banks. This rate is not usually applicable to the general public or small businesses.
Fees
KnightsbridgeFX provides a transparent fee structure, where the fees tend to increase by a small amount as you add more to your transfer. It's important to keep this in mind when planning your transaction. Additionally, if your transfer exceeds their limits, you may be required to pay fees twice.
KnightsbridgeFX transfer limits:
RemitBee also has a handy fee calculator that’s super easy to use. You simply drag the button to show how much you are planning to transfer, and it tells you how much the fees will be for each of the following methods: Wallet, Interac, debit.
Two things are noteworthy about RemitBee’s fees:
Exchange Rates & Fees
RemitBee offers better exchange rates, lower fees, and higher transfer limits compared to competitors like KnightsbridgeFX. With fees starting at $3.99 and the ability to send up to $1 million CAD per day, it’s ideal for both small and large transfers. RemitBee also supports various payment methods and ensures all transfers are fully insured, making it a secure and affordable choice for sending money home.
Transparency
Knightsbridge does not publish its rates on the internet. The prices of their services are determined by the amount of money exchanged, according to the company. You must call or email Knightsbridge for a quote in order to find out the cost.
Remitbee, on the other hand, makes their exchange rate and charge available on their website. You do not have to sign up to receive a quote. Simply go to www.remitbee.com and enter the amount you'd like to change. The latest exchange rate and the fee will be shown.
Ease of use
To use any of KnightsbridgeFX’s services, you first need to complete their registration process. Once registered, you must call their trading floor and speak with a representative to get an exchange rate and book the trade. Afterward, you need to wait for the trade to be confirmed before transferring funds to their designated account. Additionally, their compliance department must verify your identity, which can take up to one business day. However, you can mark your application as urgent, which may speed up the process to as little as one hour.
RemitBee’s currency exchange process is simple and efficient, consisting of three steps: sign up, verification, and then exchanging money. After completing your sign-up, you will go through a verification process, which is quick and typically takes no more than 24 hours, depending on the level of verification chosen. Once verified, you can proceed by making a direct transfer to the RemitBee bank account, and your exchange will be completed seamlessly. RemitBee offers three levels of verification, allowing for flexibility depending on your needs.
Customer reviews
KnightsbridgeFX
RemitBee
Features and functionality
With the app you can check the real-time exchange rate
Monitor your transaction’s current status
Refer & earn program
Touch ID
SMS alert
Same encryption as banks
Access to the history of your transaction and referrals
RemitBee
Biometric authentication
Free transfers when you send over $500 using Remitbee wallet
Refer & earn program
Good ratings on both major app stores (Apple and Google Play)
Variety of pickup options
Live exchange rates on app
Live transaction tracking
Send up to $9,000 per transaction
Encrypted payment security
Direct partnerships with major banks and payment processors
Instant SMS transaction alerts
Payment methods
KnightsbridgeFX supports payment methods, including: Bank account transfer
Remitbee’s payment methods include:
Speeds of transfer
Transfer Speed: KnightsbridgeFX processes transactions the same day they receive funds. However, international wire transfers can take 3 to 5 business days to reach the recipient's bank account.
RemitBee:
According to RemitBee, the fastest option to send money once your card is connected is EFT. These transfers are typically completed within one business day, usually within a few hours. For other methods, speed of transfer depend on your level of verification, but are usually completed between 1-3 business days.
Credibility and security
FINTRAC (the Financial Transactions and Reports Analysis Centre of Canada) regulates KnightsbridgeFX. This body ensures that all Canadian money-transfer services, such as Knightsbridge, are supervised. Client funds, according to KnightsbridgeFX’s website, are kept in separate accounts at a Canadian financial institution. The funds are transferred via wire transfer or direct deposit, both of which are secure methods of sending money.
KnightsbridgeFX says it has changed billions of dollars for Canadian consumers since it was founded. It is also compatible with all of the country's banks, so you can use the service regardless of your banking institution.
Remitbee also has strong security measures in place. It works with major trusted banks all over the world to keep your money secure. FINTRAC also registered and monitors Remitbee.
Remitbee uses cutting-edge security software to host and handle the customer data while keeping it safe. Amazon AWS and Microsoft Azure are two examples.
Both companies appear to be healthy and stable places to trust with your money.
Service & Coverage
With KnightsbridgeFX, you can send your remittance from Canada to a wide range of countries globally. They offer a variety of services including:
Remitbee offers many services and covers over 45 countries. Some of its most popular money destinations are the Philippines, India, and Sri Lanka. Currently, you can only send money from Canada, but they are working on more countries. They offer the following services:
Customer support
Their support centre is 24/7 according to their website.
One of RemitBee’s super strong points is their customer support. Something noteworthy about their customer support is that they back it up with a 100% Money Back Guarantee (including any fees paid) as a commitment to their customers. Call 1-647-689-2323 during customer service hours (10 am - 8 pm EST)
RemitBee also maintains good reviews on Google, Google Play, the Apple app store, and Trust Pilot.
If you want to get in touch with RemitBee, you can do so in the following ways: