We’re confident about our competitive rates and are very transparent about any fees we charge. We encourage all of our customers to use our CAD to USD calculator to compare our rates with their usual financial institution’s rates, so they can make sure they’re getting the most out of their money.
In times of increased economic uncertainty, we want to make sure exchanging currency isn’t a stress or source of lost income. We think it’s unfair that banks and other financial institutions can charge such high fees when it comes to money exchange, so we’re working to be the affordable and fair option for everyone.
If you’re buying US stocks, we’re going to assume that you’re interested in making some extra money! To make sure that extra profit is going directly into your pocket at the end of the day, it’s important to do your research on the best currency exchange service for you.
Until now, the most popular option for converting CAD and USD when stock trading was Questrade, which charges 1.5-1.99% each way. Questrade fees are much better than bank fees, which are around 2.5% each way. However, Remitbee has become a new and more desirable option for converting, because we charge zero fees.
Switching to Remitbee as your primary way to convert money makes sense as you begin to invest in the thousands because your savings will be more significant. If you only invest a small amount in your lifetime, we’ll only save you about $4, but if you’re buying US stocks, we assume you’re in it to maximize your profit.
To put this in perspective, here’s how much you lose with Questrade, depending on how much you invest
- $1000 worth of US stocks: you could lose $40 CAD
- $50,000 worth of US stocks: you could lose $2,000 CAD
Banks have been able to offer such bad rates because the average joe won’t question it. The reality is, the exchange rate they offer you is a lot lower than the real exchange rate on a given day! You have the power to fact-check, so just Google “usd to cad” or “cad to usd” to see the real rate.
Not only do we have competitive rates when you exchange with us, but you also pay nothing when you exchange a minimum of only $10 between two currencies.
We’re proud to be a Canadian company based out of Toronto. To protect you and your money, we’re regulated and audited by FINTRAC, which is an agency of the Canadian government!
We know the pain of dealing with unhelpful customer service representatives. We want to make sure that if anything goes wrong, that you can contact us at any time, and we’ll be there to help you sort it out. Curious about our existing customers’ experiences? Check out our reviews on Trustpilot and Google and see for yourself!