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USD to CAD
CAD to USD
Market exchange rate is basically the real exchange rate between two currencies. It’s what financial institutions, like your bank, use to trade with other financial institutions. Unfortunately, these rates are often only reserved for transfers dealing with a ton of money— more money than the average person would ever deal with.
The consumer exchange rate is the rate you’re most likely used to dealing with. The consumer exchange rate is a combination of the market exchange rate plus whatever amount the financial institution (in most cases, your bank) charges in order to make a profit.
It’s best practice to use the market exchange rate as a benchmark when you’re looking for the best rates. The closer the exchange rate is to the market exchange rate, the better.
Remitbee has daily and monthly limits on how much you can send:
The amount of money you can send daily and monthly depends on your verification level with Remitbee. We currently have (3-4) levels of verification
Banks take advantage of the knowledge that most people will use what they’re familiar with when it comes to international transfers. Big banks use this knowledge to continue charging higher rates than other services because they have been able to get away with it for many years. Banks disguise their high exchange rates with complicated fee structures which leave consumers naive about how much money they’re losing.
Remitbee is on a mission to keep our fees and exchange rate transparent so that you can transfer money internationally, while feeling safe that you’re truly getting the best exchange rate.