KnightsbridgeFX vs. RemitBee
Looking to exchange currency online in Canada? We compare KnightsbridgeFX and RemitBee to help you decide where to get the best rates, lowest fees, and fastest service.
Intro
Which Currency Exchange Service is Best in Canada?
As international travel, cross-border investments, and global e-commerce continue to grow, more Canadians are looking for affordable and efficient ways to exchange currency. Whether you're converting USD to CAD for personal use, managing a business that deals with foreign suppliers, or planning a trip abroad, finding a reliable and cost-effective currency exchange provider is crucial.
Traditionally, banks and in-person exchange kiosks dominated the market—but today, online platforms like RemitBee and KnightsbridgeFX offer Canadians much better rates, faster service, and more convenience from the comfort of their home.
Here, we’ll compare RemitBee and KnightsbridgeFX, two of Canada's most trusted digital foreign exchange providers, to help you decide which one gives the best value, lowest fees, and smoothest experience for your currency exchange needs in 2025.
Background
KnightsbridgeFX has been operating since 2009, offering a wide range of foreign exchange services. Like RemitBee, it is a Canadian company that has earned recognition as one of the fastest-growing businesses in the country. By 2018, it generated between 5 and 10 million CAD in revenue. As of 2025, KnightsbridgeFX continues to operate solely online, with no mobile applications available. It also maintains a call center, which plays a crucial role in its currency exchange service, as transactions are still required to be booked over the phone.
Founded in 2015, RemitBee was created in Canada by immigrants for immigrants. Over the years, it has garnered significant recognition from the media and industry experts as one of the most promising fintech companies to watch. The company quickly formed partnerships with some of the world’s top banks to offer its services to Canadians. Originally focused on international money transfers, RemitBee expanded its offerings in late 2020 to include currency exchange services. While it primarily focuses on USD to CAD and CAD to USD, it plans to broaden its currency options in the near future. As of 2025, RemitBee continues to innovate and grow, providing a range of financial services designed to meet the evolving needs of its users.
Exchange rates
Exchange rates fluctuate daily so make sure to compare the exchange rate you’re being offered with the real (or mid-market) exchange rate on Google. For example, if you’re looking for the real exchange rate from CAD to USD, just put “CAD to USD” into Google search.
Now let’s compare the two as of April 1, 2025:
KnightsbridgeFX exchange rate for CAD/USD
1.00 USD → 1.44 CAD
RemitBee’s exchange rate for CAD/USD is
1.00 USD → 1.432 CAD
Why RemitBee Offers Better Exchange Rates
Overall, Remitbee offers a better exchange rate. Canadian banks normally charge a 2.5 percent or higher premium over the interbank rate. This rate is the one you see when you search for the current rate online. It’s usually an average of the buy and sell exchange rates for huge amounts between banks. This rate is not usually applicable to the general public or small businesses.
Exchange rate comparison
Fees
There are no fees to exchange with KnightsbridgeFX.
There are no fees to exchange with Remitbee.
Transparency
Knightsbridge does not publish its rates on the internet. The prices of their services are determined by the amount of money exchanged, according to the company. You must call or email Knightsbridge for a quote in order to find out the cost.
Remitbee, on the other hand, makes their exchange rate and charge available on their website. You do not have to sign up to receive a quote. Simply go to www.remitbee.com and enter the amount you'd like to change. The latest exchange rate and the fee will be shown.
Ease of use
To use any of KnightsbridgeFX’s services, you first need to complete their registration process. Once registered, you must call their trading floor and speak with a representative to get an exchange rate and book the trade. Afterward, you need to wait for the trade to be confirmed before transferring funds to their designated account. Additionally, their compliance department must verify your identity, which can take up to one business day. However, you can mark your application as urgent, which may speed up the process to as little as one hour.
RemitBee’s currency exchange process is simple and efficient, consisting of three steps: sign up, verification, and then exchanging money. After completing your sign-up, you will go through a verification process, which is quick and typically takes no more than 24 hours, depending on the level of verification chosen. Once verified, you can proceed by making a direct transfer to the RemitBee bank account, and your exchange will be completed seamlessly. RemitBee offers three levels of verification, allowing for flexibility depending on your needs.
Customer reviews
KnightsbridgeFX
RemitBee
Features and functionality
With the app you can check the real-time exchange rate
Monitor your transaction’s current status
Refer & earn program
Touch ID
SMS alert
Same encryption as banks
Access to the history of your transaction and referrals
RemitBee
Biometric authentication
Free transfers when you send over $500 using Remitbee wallet
Refer & earn program
Good ratings on both major app stores (Apple and Google Play)
Variety of pickup options
Live exchange rates on app
Live transaction tracking
Send up to $9,000 per transaction
Encrypted payment security
Direct partnerships with major banks and payment processors
Instant SMS transaction alerts
Payment methods
KnightsbridgeFX supports payment methods, including:
Remitbee’s payment methods include:
Credibility and security
FINTRAC (the Financial Transactions and Reports Analysis Centre of Canada) regulates KnightsbridgeFX. This body ensures that all Canadian money-transfer services, such as Knightsbridge, are supervised. Client funds, according to KnightsbridgeFX’s website, are kept in separate accounts at a Canadian financial institution. The funds are transferred via wire transfer or direct deposit, both of which are secure methods of sending money.
KnightsbridgeFX says it has changed billions of dollars for Canadian consumers since it was founded. It is also compatible with all of the country's banks, so you can use the service regardless of your banking institution.
Remitbee also has strong security measures in place. It works with major trusted banks all over the world to keep your money secure. FINTRAC also registered and monitors Remitbee.
Remitbee uses cutting-edge security software to host and handle the customer data while keeping it safe. Amazon AWS and Microsoft Azure are two examples.
Both companies appear to be healthy and stable places to trust with your money.
Customer support
Their support centre is 24/7 according to their website.
One of RemitBee’s super strong points is their customer support. Something noteworthy about their customer support is that they back it up with a 100% Money Back Guarantee (including any fees paid) as a commitment to their customers. Call 1-647-689-2323 during customer service hours (10 am - 8 pm EST)
RemitBee also maintains good reviews on Google, Google Play, the Apple app store, and Trust Pilot.
If you want to get in touch with RemitBee, you can do so in the following ways: