The best way to exchange US Dollar to Canadian Dollar in Canada
Remitbee Currency Exchange is quick and easy. With only 3 steps in the process, you can exchange up to $50,000 a day ― with no hidden fees! Simply send us direct payment from a bank account, and we’ll do the rest. For exchanging Canadian Dollar to US Dollar you must have a USD account in Canada in order to be eligible. Then Remitbee will direct deposit into the bank account of your choice.
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With Remitbee, exchanging your money is a smooth frictionless process from start to finish. It’s a perfect solution for travel, doing business overseas, or paying tuition outside of Canada.
Bank rates, for example RBC currency exchange rates, are not as favourable as Remitbee’s rates. Using a bank for US currency exchange involves hidden fees. Remitbee is transparent in its fees and charges. So how much you can get exchanging $1000 CAD to US Dollars?
Remitbee currency exchange is also better than other services. Remitbee offers services and rates that are more competitive than companies like Ultimate currency exchange and Continental currency exchange.
Canadian remote workers getting paid in USD have an advantage. There is one big drawback, however: you get paid less when you convert the payment into Canadian Dollars. Every time this happens you lose money.
Banks can charge up to 4% to convert USD to CAD. If you use our service, you can save $2,000 each year on a salary of $50,000 USD. By using Remitbee you can put the money you’ve saved into your RRSP, take that vacation you’ve been wanting, or cover bills and expenses.
It’s important to choose the right service to exchange your US Dollars to Canadian Dollars. Even a small .007 difference in the exchange rate can mean big savings.
For example, say you have your savings in USD and want to use them to buy a home. On a 20 % downpayment for a place in the Greater Toronto Area, you could save $8,000 CAD
With tuition fees, again, a small difference in the exchange rate can add up to big savings — or a loss! You can save around $1235 USD each year with a small .0386 difference in the exchange rate. The average tuition fees for international students in Canada during 2020-2021 were about $32,019 CAD. That extra money could be spent on extra meals, better study materials, and more.
Remitbee currency exchange allows you to deposit money into your US account and exchange it for Canadian dollars quickly and easily, and vice versa!
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.
Transfers are done using a high level of security and your details are kept secure with Remitbee technology. The money exchanged is taken from your bank account and deposited back into your bank account, quickly and securely.
Remitbee allows you to exchange money with ZERO fees.
At the moment Remitbee exchanges USD/CAD and CAD/USD. In the future more currency pairs will be available for your exchange needs.
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.
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 $50,000 per day.
Unlike banks, Remitbee specialises in currency exchange and is able to offer it at a lower cost. Big banks take advantage of the knowledge that most people don’t know there are other options for international transfers. So they continue to charge higher rates than other services because for many years consumers have not known better. Banks disguise their high exchange rates with complicated fee structures which leave consumers naive about how much money they’re losing. Remitbee is on a mission to keep our fees and exchange rate transparent so that you can transfer money internationally, while feeling safe that you’re truly getting the best exchange rate. With us, you’ll always know how much you pay, and how much you get. Sign up now to start saving today.