KnightsbridgeFX review
- Minimum Transfer Amount
- $2,000 (possibly lower)
- Fastest Transfer Speed
- 24 hours
- Receiving Options
- Bank account
- Available Currencies
- AUD, EUR, GBP, NZD, USD
Summary
Send free wire transfers to Canada, Europe or the US when you exchange currency with KnightsbridgeFX.
KnightsbridgeFX is a Canadian-based money transfer service that lets you transfer up to $40 million annually to the G7 countries and other countries in Europe. With physical offices all across Canada, you'll be able to access help and transfer funds conveniently.
Pros
-
High maximum transfer amounts
-
No transfer fees
Cons
-
Not ideal for small transfers
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No online transfer platform or mobile app
Details
Product details
| Product Name | KnightsbridgeFX |
| Pay By | Bank transfer, Online bill payment, Direct debit (EFT), Wire transfer |
| Receiving Options | Bank account |
| Customer Service | Phone, Live chat, Email, In person |
| Available Currencies | AUD, EUR, GBP, NZD, USD |
What is KnightsbridgeFX?
KnightsbridgeFX is a currency exchange provider that was founded in 2009, and is headquartered in Toronto, ON in Canada. It has helped over 130,000 customers exchange or transfer over $20 billion worth of currencies at competitive rates.
What we like about KnightsbridgeFX
- Free wire transfers. You can send free wire transfers to Canada, the US or Europe on the condition that you exchange currency with KnightsbridgeFX in advance.
- No maximum amounts. You can send as much money as you want with no maximum limits.
- Local offices in Canada. There are many KnightsbridgeFX offices located across Canada, so you can easily go over your transfer details with a KnightsbridgeFX representative in person.
- Competitive exchange rates. KnightsbridgeFX guarantees that it will offer better exchange rates than you’d find from a bank.
What to be aware of
- Relatively slow transfer fees. Transfers at KnightsbridgeFX can take a minimum of 1-2 business days to complete for some popular destinations but up to 5 business days (depending on they type of transfer) for less common destinations.
- High transfer amounts. You have to send at least $2,000 (negotiable in some cases) to get started with a KnightsbridgeFX money transfer.
- Limited recipient countries. You can only send money to Canada, the US and Europe. KnightsbridgeFX does not send money transfers to Africa, South America, the middle east, and Asia.
- No online or app service. There is no online or mobile app so you have to phone KnightsbridgeFX directly, talk to some one via live chat on its website or visit a store in person to transfer money.
How can I send money with KnightsbridgeFX?
You can send KnightsbridgeFX money transfers to Canada, Europe and the US by visiting a store in person, calling KnightsbridgeFX or using the live chat feature on its website to send your transfers. You’ll have to first open an account online or in-store, and then talk to a representative directly to lock in your exchange rate and arrange your money transfer.
KnightsbridgeFX also doesn’t have an online or mobile app to send money transfers, so this service is not ideal if you need the flexibility to make transfers on the go.
KnightsbridgeFX exchange rates and fees
KnightsbridgeFX typically offers exchange rates that around 1.5% to 2% lower than what you’d find at major banks. This is because KnightsbridgeFX seems to offer rates that run below average market rates, which puts it on-par with other specialist money transfer services such as Wise or WorldRemit.
Like KnightsbridgeFX, there are many alternative money transfer services that also offer cheaper rates than banks, which is why it’s important to compare these services to make sure you’re getting the best deal for your needs.
How long will my KnightsbridgeFX money transfer take?
Your KnightsbridgeFX money transfer should take between 1 and 5 days to process, depending on the type of transfer you’re sending.
Bill payments and wire transfers usually take 1-2 business days, transfers to Europe usually take 3-4 business days and account-to-account transfers typically take 4-5 business days to settle.
Tips for avoiding KnightsbridgeFX transfer delays:
- Send money at set times. Aim to send funds during bank hours – such as in the morning or on weekdays.
- Send smaller transfers. Try to break your large transfer up into several smaller transfers to speed up processing times.
- Send popular currencies. Send mainstream currencies over exotic currencies wherever possible to speed up your transfer time.
Transfers typically take
1-5 business days
What payment methods does KnightsbridgeFX accept?
You can pay for your KnightsbridgeFX money transfer with bank transfer, online bill payment, direct debit (EFT) and wire transfer. Unfortunately, other payment methods, including credit card, debit card, cash and cheque, aren’t accepted.
How much money can I send?
You have to send a minimum of $2,000 to get started with a KnightsbridgeFX money transfer. That said, KnightsbridgeFX has noted that there is some flexibility in that minimum amount, so if you need to send less than $2,000, contact KnightsbridgeFX’s customer service team to discuss your options.
The maximum amount you can transfer with KnightsbridgeFX is up to $40 million annually.
What currencies does KnightsbridgeFX offer?
KnightsbridgeFX only wires money to a selection of countries so you’ll be limited to the following currencies:
- USD US Dollar
- GBP British pound
- EUR Euro
- AUD Australian Dollars
- NZD New Zealand Dollars
Is KnightsbridgeFX safe to use?
As a growing Canadian company, KnightsbridgeFX has gained a solid reputation. It has had a score of A+ with the Better Business Bureau, and all of its transactions can be traced electronically via a confirmation number. KnightsbridgeFX is regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The company also claims that it has set aside $1,000,000 just for consumer protection.
How to send your first KnightsbridgeFX money transfer
Follow these steps to send a money transfer with KnightsbridgeFX:
- Sign up for an account. First head online or into a store KnightsbridgeFX store to open an account. You’ll need to input your name, address, phone number, email, birthday and occupation, along with some basic information about the why you need to send money and how you plan to pay for your transfers.
- Verify your identity. You’ll need to provide government-issued photo ID (either a drivers licence or passport) in-store or by uploading pictures to your account online. You’ll also need to provide a scan or screenshot of your bank statement showing your name and account number.
- Contact a representative. Contact a KnightsbridgeFX representative directly to provide details about your money transfer and set up the transfer. You can contact one by phone, online chat or in person at a storefront.
What information do I need to send a money transfer with KnightsbridgeFX?
You need to have the following information on hand when setting up a KnightsbridgeFX money transfer:
- Recipient’s name and address
- Recipient’s bank name, location, account number and transit number.
- Recipient’s international bank account number (IBAN), BIC, or SWIFT code
Does KnightsbridgeFX have a mobile app?
No, KnightsbridgeFX doesn’t have a mobile app. That means that in order to send a money transfer, you’ll have to phone a KnightsbridgeFX’s representative, chat with one online or go into your local store location. This can make the service much less accessible than many other money transfer services on the market.
KnightsbridgeFX customer service
You can contact KnightsbridgeFX’s customer support in person at one of KnightsbridgeFX’s many store locations across Canada, by online chat service on its website or by calling an office branch to ask any questions or set up a currency exchange. You can also contact KnightsbridgeFX via email at contact@knightsbridgefx.com or via its WhatsApp for business at 1-877-355-5239.
KnightsbridgeFX customer service contact phone numbers
You can contact the KnightsbridgeFX customer support team by calling one of its locations in the following cities:
- Toronto, ON (company headquarters): (416) 800-5552 or (416) 479-0834
- Ottawa, ON: (613) 704-1798
- Calgary, AB: (403) 800-3025
- Edmonton, AB: (587) 405-4049
- Montreal, QC: (514) 613-0393
- Vancouver, BC: (604) 229-1065
- Winnipeg, MB: (204) 318-1150
- Halifax, NS: (902) 800-2063
- London, ON: (519) 937-1927
- Windsor, ON: (519) 850-4056
- Kitchener Waterloo, ON: (519) 204-0623
- Hamilton, ON: (905) 819-1990
- Saskatoon, SK: (306) 700-2167
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