Venstar Exchange money transfer review – October 2021

Get competitive rates with no fee for your high-amount transfers worldwide.

Venstar Exchange is a US-based money transfer service that makes it easy to send and receive fee-free international payments with competitive exchange rates. Whether you’ve got one large lump sum to send abroad or regular overseas payments to manage, Venstar Exchange offers a range of services so that you can get the most out of every transaction.

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CAD 7,000

Min. Transfer Amount

No limit

Max. Transfer Amount

1 day

Transfer Speed


Product NameVenstar Exchange International Money Transfers
Min. Transfer AmountCAD 7,000
Max. Transfer AmountNo limit
Transfer MethodsPhone, Bank Account to Bank Account
Transfer OptionsRegular payments, One off payments, Market orders, Forward contracts
Transfer Speed
Minimum transfer time
1 day
Customer ServicePhone, Email
Exchange Rate UpdatesReal time
Online Transfer FeeCAD 0
Phone Transfer FeeCAD 0

What is Venstar Exchange?

Founded in 1990, Venstar Exchange is a US-based foreign exchange payments and service provider. It offers services to individuals and businesses, accepting customers from most countries around the world. Venstar Exchange can be used in Canada since it handles all major currency pairs in both directions.

One thing to note is that Venstar Exchange only handles one-off transactions of USD$10,000 (around CAD$13,300) or more. For regular transactions, they will allow smaller amounts to be sent overseas. You can also make the most of exchange rate fluctuations with hedging tools like forward contracts, which allow you to set your ideal exchange rate in advance.

Venstar exchange rates and fees

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
CAD 7,000 1 day CAD 0.00 0.805 USD
Venstar Exchange offers competitive exchange rates and zero fees on large transfers over US$10,000. Show details

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Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

How are Venstar Exchange’s rates?

Venstar claims to be compensated directly by the institutions they work with due to the large amounts of money they exchange. Given their large volume of trade, they receive discount exchange rates which they then pass on directly to clients. They publish their rates online, but these rates are often the “interbank” rates, which aren’t necessarily the rates you’ll get for your transfer.

To see the rate for your specific transfer, you’ll need to sign up for an account and enter your transaction details. Venstar will e-mail a rate for your transfer that’s valid for 10 minutes.

How much will I pay to send money with Venstar Exchange?

Venstar Exchange follows a simple fee structure. You pay no fees for transfers of USD$10,000 (around CAD$13,300). Venstar may accept scheduled transfers of less than $10,000, but you’ll pay a USD$15 (around CAD$20) wire transfer fee per transaction for the convenience.

Also, because the company works only with wire transfers, you may be on the hook for any additional fees your bank charges for such transfers — sometimes ranging between $10 and $30 or more. Your recipient’s bank may also charge a fee to receive the transfer.

Minimum transfer amounts and available countries

Minimum transfer amounts vary by transfer type. But for one-off transfers, you’ll need to send at least USD$10,000 (around CAD$13,300) — a high minimum for most everyday transfers.

If you set up recurring transfers with Venstar, you might be able to transfer less than USD$10,000 each time. But, like seeing your exact exchange rate, you’ll first need to enter your transaction details to learn how much under USD$10,000 you can send.

Venstar accepts claims to handle all major currency pairs in both directions, as well as select minor and exotic currencies. To find out whether Venstar supports your currency, call one of their exchange account specialists.

What types of transfers does Venstar Exchange support?

Venstar Exchange offers a range of tools to help you send money overseas:

  • Spot orders. These are money transfers posted with the current exchange rate (the rate you book same-day), typically received in two business days.
  • Forward contracts. With a 10% deposit, you can buy or sell currency at a fixed rate which will process at some point in the future. Closed forward contracts require you to provide a specific date for your transfer, while open forward contracts let you select a range of days.

How do I send money through Venstar Exchange?

Start by completing Venstar’s online registration form. Shortly after, you’ll receive an email containing a link to the full two-page registration form.

Fax, scan or email your completed form along with Venstar’s required forms of ID to confirm your identity and address. Once Venstar confirms your ID and bank account, it sends an email confirming you’re all set.

To send a transfer, enter your recipient’s name and banking details, including their account number and the bank’s SWIFT/IBAN code or routing number.

Venstar claims to approve new accounts within eight hours.

How do I track my Venstar Exchange transfer?

Track the progress of your transfer through your online account or by calling Venstar’s customer service.

What to look out for

Unlike World First, XE and other online money transfer specialists, Venstar requires a relatively high USD$10,000 (around CAD$13,300) minimum for its services on most transfers. Lower minimums apply to regular, scheduled payments abroad, but you will need to consult with the company by calling customer service or entering your transaction details online.

Same goes for exchange rates: They sound competitive, but you won’t know the exact rate that applies to your transfer until you’ve submitted the details of your transaction.


  • Fee-free transfers. Transfer more than USD$10,000 (around CAD$13,300) to one recipient, and pay no transfer fees.
  • Competitive rates. Get rates that are close to the mid-market rate due to the high volume of currency exchange.
  • Talk with an advisor. Registered customers get access to personal market advisors that can help you maximize your money transfers.
  • Widespread support. Venstar deals in all major currency pairs and many minor and exotic pairs too. And it lets you register as a customer from most countries.


  • No live chat. If you have questions, you’ll need to call a US support office during business hours (but luckily they have a toll-free number for Canadians).
  • High minimum. You can’t send less than USD$10,000 (around CAD$13,300) through a one-off transfer.

How safe is Venstar Exchange?

Venstar Exchange is a legitimate company that complies with anti–money laundering policies issued by the US Financial Crimes Enforcement Network (FinCEN). Its online network is safeguarded by multiple layers of hardware and software firewalls provided by industry-leading vendors. High levels of encryption safeguard all sensitive data between your computer and Venstar’s network.

What do customers say about Venstar Exchange?

Venstar Exchange has been accredited by the Better Business Bureau since 2006, earning an A+ rating.

Curiously, you’ll find no reviews on BBB or Trustpilot. The few customer reviews online praise Venstar’s exchange rates, turnaround and customer service.

Bottom line

Venstar Exchange is best for those looking to send high-amount transfers of USD$10,000 (around CAD$13,300) or more. It offers fast registration — often within a day — with low fees and competitive rates.

If you’re interested in sending smaller everyday transfers, compare your many online options for international money transfers.

How does Venstar compare to other services?

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
CAD 1 Same day CAD 0.00 0.805 USD
XE has fast transfers with low fees and a range of foreign currency tools. Go to site Show details
CAD 10 Within an hour CAD 1.99 0.8 USD
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Go to site Show details
CAD 1 1 - 2 days CAD 45.00 0.809 USD
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details

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Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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