iRemitX Money Transfer Review

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

iRemitX Money Transfer 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, OK
  • How Much I Can Transfer With iRemitX?

    iRemitX is not clear about the maximum you can send in a single transfer. However, past senders have noted in iRemitX reviews that the most you can send in each transfer is PHP 50,000.

    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.

      iremit transfer time

      How To Open An Account With iRemitX

      In order to sign up you will need a form of ID from the list below.

    • Provincial identity card
    • Canadian driver's license
    • Canadian permanent resident card
    • Passport
    • The information provided when you sign up must match the ID document exactly. You will also have to provide your occupation, nationality, Canadian address and phone number.

      Upon submitting your details, iRemitX will require a final step of you uploading a selfie and your identification document. Unlike other services, it is difficult to get started creating an account. The user experience is poor, and for some senders can be too much hassle.

      Pros And Cons Of Using iRemitX


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      Variety of payout options for Filipino receivers

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      Can send through mobile app on the go

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      Money can be available instantly with Visa card option

    • Cons

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      Customers have reported transactions being cancelled

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      Fees are not transparent

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      Bad user experience in both apps and website version

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      Poor customer support

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      No referral or loyalty programs

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      Lack of features, only does money transfers

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      Cannot view rates, fees and transfer details without full verification

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      Long delivery times, up to 6 business days

    • How Does iRemitX Work?

      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.
    • On Interac online, enter the payment details.
    • 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.
    • Other Money Transfer Providers

      iRemitX Exchange Rates

      You can see the daily exchange rate on the iRemitX website. To see it, you will need to do a cost estimate. Senders benefit from a locked-in rate that is valid until midnight on the day they start the transaction. For example, if you send CAD 1000 the recipient will get 37,600.00 pesos. This breaks down to an exchange rate of 1.00 CAD = PHP 37.60. This is a worse rate than the daily mid-market exchange rate, which is 1.00 CAD = 37.95. If the real mid-market rate was used, the receiver would have gotten more money, i.e., 37,952.10 pesos.

      (Rate checked 2:35 p.m. 5 January 2021)

      How Does iRemitX Make Money?

      iRemitX makes money both on charging senders fees and using a margin on the exchange rate. If you compare the rate that you find in Google for the Philippines Peso (PHP), you will see there is a difference. Companies like iRemitX make money on giving customers a slightly worse exchange rate than the real, mid-market exchange rate. The mid-market exchange rate is the one used among banks for large transactions.

      iremit website screenshot

      Platforms Where iRemitX Is Available

      As iRemitX was created to make it easy to send money online, it is available as an app for both Android and iPhone users. iRemitX is rated a good 4.3 out of 5 stars by users on the Google Play Store, while on the App Store it only has 2.5 out of 5 stars for its app.

      iremit ios app storeiremit android app store

      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.

      iRemitX Allows You To Transfer Money To The Following Countries

      At the moment, iRemitX is a Filipino-only company. It is primarily for transfers to the Philippines.

      How To Contact iRemitX

      Email Support -

      Telephone Alberta: 1-403-800-7705 / 1-780-800-0462, Manitoba: 1-204-800-4282, British Columbia: 1-778-785-6842, Ontario: 1-647-846-7369

      Contact form

      Alternatives to iremitX Money Transfers

      Traditional banks

      A bank can be seen as a safe and traditional way to send money abroad. However in modern times, bank transfers are often slow and expensive compared to other services. In many cases you will have to go in person to send your transfer. The process will also take a few business days to arrive. Additionally, banks charge very high transfer fees.


      Online banks

      Canadian online banks offer some of the best cheap banking services for tech-savvy customers. If you are comfortable with using a bank that has no physical branches, you can check out Simplii Financial, Tangerine, or EQ Bank. However, not all of their international money transfer services are equal. It’s best to research which offer the most competitive transfers to the Philippines.


      Traditional Money Transfer Providers

      Easily accessible and convenient, you may have already heard of money transfer companies like Ria, Western Union, and MoneyGram. There are a few advantages to these companies. They offer the chance to pick up money in minutes, and in cash. This can work for emergencies or in situations when your receiver cannot wait. It’s also likely that your receiver will have a branch nearby. However, you do pay a high amount for the convenience. These companies have the worst exchange rates and the highest fees for their services.




      is an award winning online money transfer company. It allows senders to benefit from the real exchange rate. It does charge fees, but they are transparent and you know the amount up front. If you choose Transferwise, your receiver will have to receive the money to their bank account.


      Online Money transfer companies like Remitbee

      Due to the less convenient, pricey options out there, there are many online only transfer companies in operation. Since they do not have to maintain branches or pay large management salaries, companies like Remitly, Remitbee, Skrill, and others offer easy transfers at low and transparent cost.


      iRemitX Frequently Asked Questions

      Here are some frequently asked questions about choosing Iremitx for your online money transfers:

      At present, it takes 6 Philippine banking days to credit to a receiver's bank account. Usually the payout time is 1 to 2 business days. The quickest way to send is to send to an iRemit Visa card. This allows the receiver to spend the money using a debit card at Visa locations worldwide.

      Yes, if the money has not been dispatched yet. You will need to contact customer support to do a cancellation.

      iRemitX will only display fees if you model a transaction on their website.

      Yes, you can. At present, Canadian branches are located in Toronto, Calgary and Richmond, British Columbia. In the other sender countries where iRemitX is present, you can use the branch locator to find a branch.

      It has been reported that the maximum for a single transaction is PHP 50,000.

      The receiver can use one of three methods to pick up. An iRemit visa card, their bank account, or pickup in cash at one of iRemitX’s affiliate offices.

      History Of iRemitX


      iRemitX started as an offshoot of money transfer company iRemit. It was created so that people would no longer have to visit an office in person in order to send money. As an online money transfer provider, it operates as a standalone company separate from iRemit but working closely with it all the same.

      iRemit had been a major player in the Philippines before, and was in fact the biggest remittance company on the country’s stock exchange. Across Asia and the rest of the world, its partnerships allow it to boast of more than 1,000 branches.

      So what is a iRemitX in a Nutshell?

      Unfortunately it's difficult to know the real cost of a transfer with iRemitX. As there is no transparency on fees before registering, you have to create an account to find out the real total cost. If you send money to the Philippines often, there may be better services out there. To find out more, read our reviews on the Remitbee blog.

      Disclaimer: All third-party trademarks (including logos) referenced by Remitbee Inc. in this article remain the property of their respective owners. Unless specifically identified as such, Remitbee's use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between Remitbee and the owners of these trademarks. Any reference by Remitbee to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law. Furthermore, we are not responsible for any inaccuracies identified in the article's content, and that information can be verified by contacting the respective third parties directly mentioned in the article.

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