Remitbee international money transfers review
Send money overseas with Remitbees's range of payment options, including bank transfer and card.
- Low transfer fees, fee-free above $500 CAD
- Competitive exchange rates
- Money-back guarantee if anything goes wrong with your transfer
- Doesn’t support a lot of currencies
- Not suitable for large transfers, new users are limited to $3,000 CAD per day
- Limited to Canada, you can only send money out of the country
See our full list of pros and cons below.
Remitbee exchange rates and fees
Remitbee adds a relatively small markup to exchange rates. For example, they add a 0.50% margin when sending money from Canada to India. Generally their markup ranges from 0.50% to 3%. Currencies such as the South African Rand have a 2.80% margin.
The fees you’ll pay depend on how much money you’re sending, as well as whether you’re paying from your Remitbee wallet, or with a debit or credit card. If you send more than $500 CAD if you can avoid paying a $2.99 transfer fee. Compare fees in the table below to get a better idea of what your transfer will cost.
|Amount||Wallet||Interac||Visa or Mastercard Debit|
Remitbee sends money to 48 countries worldwide – popular currencies include:
- INR Indian rupee
- PHP Philippine peso
- USD United States dollar
- EUR Euro
- GBP British pound
- JPY Japanese Yen
- SGD Singapore dollar
- THB Thai baht
What types of transfers can you make with Remitbee?
Although it varies from country to country, Remitbee offers a range of ways you can send money, including:
- Mobile wallet. Send to your recipient’s smartphone wallet. This option is helpful if your recipient doesn’t have a bank account and isn’t near a cash pick-up location.
- Cash pick-up. You can send money to a cash pick-up location for your recipient to collect in person. If you choose this option, the person picking it up will need a valid photo ID on hand and the reference number.
- Bank transfer. The money will be deposited directly in the bank account you choose. You’ll need to know their SWIFT code as well.
- Door-to-door delivery. Instead of picking up the cash at a fixed location, this option means your cash is delivered physically to your recipient’s home.
How long does a transfer with Remitbee take?
Most transfers with Remitbee will arrive in 1 – 3 business days, depending on how you’ve paid for it and whether your account needs to be verified.
Transfers typically take
1 business day
What payment methods does Remitbee accept?
You can pay for your transfer with Remitbee through a bank transfer or a card.
If you’re sending through debit or credit card, you’ll pay higher fees than if you use your Remitbee wallet (which offers free transfers above $500).
Is Remitbee safe to use?
Since starting in 2015, Remitbee has built up a strong reputation as a safe and reliable money transfer provider in Canada. The company is regulated by FINTRAC and Reports Analysis Centre of Canada. In addition, Remitbee is Better Business Bureau accredited. On Trustpilot customers rated them 3.9 out of 5, based on around 195 reviews (February 2023).
How does Remitbee make money?
Remitbee makes money by charging a small fee and a margin on the exchange rate. The fee depends on if you’re paying through a bank transfer or a debit/credit card (check fees for your transfer).
Remitbee, like most other providers, also adds a margin onto the exchange rate. This is why the exchange rate you get quoted varies from company to company, and also from what you can see on Google or Xe.
For example, a provider may quote you CAD$1= PHP 36.99 for a money transfer to the Philippines, while the rate you can see on Google is CAD$1 = PHP 38.12. This difference is the margin and it’s how providers cover their own fees.
How to create a Remitbee account and send your first transfer
You can sign up for Remitbee for free, and use a piece of ID to verify your account. Then all you need to do is add your recipient details, figure out how you want to make your payment and away you go.
You can also track your transaction from start to finish using your tracking ID.
What is Remitbee’s background?
Remitbee was launched in 2015 by Canadian immigrants for Canadian immigrants. The company is looking to spark a financial revolution in the remittance market by offering customers a low-cost way to move money across borders. Currently, they only operate out of Canada and offer transfers to 48 countries.
In a nutshell
- Competitive fees and great exchange rates. No fees if you send more than $500 and only charge narrow margins, making them much cheaper than Canadian banks. On their website, they claim to offer the best exchange rates in Canada.
- Easy-to-use website and app. We were able to sign up and start a transfer in about five minutes.
- Several payment options. You can pay through direct debit from your bank or a credit or debit card.
- Limited maximum transfer. You can only send $3,000 per day for a verified account (and only $995 for unverified).
- Low monthly transfer. You can’t send more than $25,000 per month.
- Fewer countries and currencies. They’re aiming to add more to the list but for now you can only send money to 48 countries.
How does Remitbee compare to other providers?
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Frequently asked questions
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