We’re very transparent about our rates, fees, and exchange times, and we make this easy for you to see through our CAD to USD calculator. We want the best for our customers, so we make sure to offer the best rates possible compared to other financial institutions that offer similar services.
During such uncertain economic times, we want to make sure that our services are affordable and accessible to all customers. We think it is extremely unfair that other financial institutions can charge such unreasonable rates.
Investing in US stocks is a great idea! However, you may underestimate the amount of money you could be losing from stock trading depending on which foreign exchange service you decide to use.
Questrade is a very popular option for Canadians who wish to exchange their profits from US stock trading, as it charges 1.5-1.99% each way, which is much cheaper than most bank rates. However, Remitbee currency exchange charges absolutely nothing when you exchange!
Now, you’ll only really see your savings with us if you trade a larger amount of money. If you’re only going to trade $100 in your lifetime, then your savings will be about $4, so it may not be worth it to make the switch.
If you are investing more, here’s how much you could be losing with Questrade:
- If you buy $1000 worth of US stocks you could be losing $40 CAD
- If you buy $50,000 worth of US stocks you could be losing $2,000 CAD
If you’re a snowbird seeking somewhere warm to live further south, or investing in property on the other side of the border, you’ll need to choose your currency exchange service wisely to make sure that the third party doesn’t profit too much off of your purchase.
In Canada, the average home price was $531,000 CAD in 2020. With Remitbee Online Currency Exchange, you could be saving more than $9,000 compared to top banks.
Banks have always been able to get away with bad rates and unfair fees because they know that the average customer won’t bat an eye. However, the rates they charge when it comes to foreign exchange is often much lower than the actual exchange rate.
To check for yourself, all it takes is a Google search of “usd to cad” or “cad to usd” to see the real exchange rate on a given day.
Remitbee not only has competitive rates but also zero fees when you exchange a minimum of $10 between a currency pair!
We’re based out of Toronto and are proud to be able to serve our customers from all over Canada. We’re also regulated and audited by FINTRAC, which is an agency of Canada’s government. This way, you know your money is protected.
Talking to a customer service team that is slow, unhelpful, or unresponsive is very frustrating, so we’ve worked hard to make sure our customer service team is always prepared to answer any questions swiftly and effectively. If you want to hear from our customers about their experiences with us, check out our positive reviews on Trustpilot and Google!