iRemitX Money Transfer Review

Exchange rates, Payment methods, How to, Transfer fees and much more

Trademark Disclaimer: Iremit* is a trademark of I-Remit Inc. , IRemitx with whom Remitbee Incorporated (“We,” “Us,” “Our”) has no direct or indirect association in marketing, sales or customer service. Indeed, the enclosed contents are provided only for information and comparison purposes. We further state that all third-party products, services, company names and logos remain the property of their respective holders. Use of them here in this article does not imply any affiliation with or endorsement by them.

Everything you need to know

iRemitX review

Are you looking to send an international money transfer from Canada to the Philippines? One option you may want to check out is iRemitX. This online money transfer service is a new option for sending money to friends or family in the Philippines.

You may have questions before picking this service though. What is iRemitX? Is it safe to send money with them? How fast is it and how can your receiver pick up money with iRemitX? For answers to all these questions and more, keep reading to find out everything you need to know about sending money with iRemitX.

Payment Methods Available with iRemitX

If sending with iRemitX from Canada, you have two options. The first is using your online banking with your current bank account. The second is through the Canadian banking system of e-transfers, Interac.

If you plan to send from a country other than Canada, here are your options:

Hong Kong, Japan, and Singapore: ATM cash deposit

Australia, Hong Kong, Japan, Singapore, United Kingdom: Online bank transfer.

Japan and Taiwan: Convenience stores including Konbini, 7-Eleven, Family Mart, Hi-Life

iRemitX Transfer Fees

Fees for using iRemitX to send vary according to payout method. The company is not transparent about their fees, so the best way find out for your specific transaction is to use their cost estimator on the iRemitX website. The fees can range from $6.99 to $10.00 depending on if you send online or in person.

Pros and Cons of using iRemitX

Pros

Variety of payout options for Filipino receivers

Can send through mobile app on the go

Money can be available instantly with Visa card option

Cons

Customers have reported transactions being cancelled

Fees are not transparent

Bad user experience in both apps and website version

Poor customer support

No referral or loyalty programs

Lack of features, only does money transfers

PCannot view rates, fees and transfer details without full verification

How it works

How to Send Money Using iRemitX?

Online banking

Select your country and log in using your mobile number and the password that was sent to your email address.

Click on Send Money and enter the amount.

Select Service Mode (this is the receiving method) and then select the beneficiary and the name of their bank as well as account number.

Select the purpose of the transfer, then the payment method.

Finally, review the transfer details. Click on confirm and enter your 6 digit PIN.

Interac e-transfer

Select your country and log in using your mobile number and the password that was sent to your email address then click Sign In.

Click on Send Money and enter the amount.

Select Service Mode, i.e., credit to bank, cash pickup, or load Visa card. Next, select the beneficiary and the name of their bank as well as account number.

Select the purpose of the remittance and the payment method. Choose Interac e-transfer and include service fee in your payment. Note that the name on your account must match exactly.

Click on confirm and enter your 6 digit PIN.

It's important to note that you must complete the extra step of logging into your bank account and adding IREMIT CANADA as an Interac recipient.

Your transfer will be confirmed by an email sent to you.

iRemitX exchange rates

To ensure you're getting the best value when sending money, it's important to compare the exchange rate you’re being offered with the real mid-market rate. On the iRemitx website, you can check the daily exchange rate by doing a cost estimate.

As of April 25, 2025, iRemitx offers a locked-in exchange rate for senders. For example, if you send CAD 1000, the recipient will receive 37,600.00 pesos. This gives an exchange rate of 1.00 CAD = 37.60 PHP.

However, this rate is slightly worse than the current daily mid-market exchange rate, which is 1.00 CAD = 37.95 PHP. If the real mid-market rate was applied, the recipient would have received 37,952.10 pesos, which is about 352.10 pesos more.

It's always a good idea to compare the exchange rate you're being offered with the real rate to ensure you're not losing value on your transfer.

Best rates with RemitBee

RemitBee makes sending money abroad simple, fast, and affordable. With transparent fees and no hidden charges, it offers competitive pricing for international transfers. You can choose from multiple payment methods and benefit from the mid-market exchange rate, which ensures you get the best value for your money.

Transfers are secure, with top-level encryption protecting your data and funds. Whether you're sending money to family or handling business transactions, RemitBee ensures a smooth, reliable experience every time.

Safety and security

Is iRemitX Secure?

If you are wondering how secure the iRemitX company is, it’s good to know that it is regulated by Bangko Sentral ng Pilipinas and the Securities and Exchange Commission. It uses blockchain technology to send money, through its partnership with American fintech company Ripple. In Canada, the company is registered with FINTRAC under the name I-Remit International Remittance (Canada) LTD.

Frequently asked questions

Have questions? We have answers!

How long does it take for money to arrive with iRemitX?

Can I cancel a transaction with iRemitX?

What are iRemitX’s fees?

Can I send money in person with iRemitX?

How much can I send with iRemitX?

How can the receiver get money with iRemitX?