Remitbee full guide

Based in Ontario, RemitBee® is an online money transfer and currency exchange platform. Use RemitBee to send quick and convenient payments overseas to family and friends from Canada, or exchange your money online.

But how much does it cost to send your money with RemitBee? What are the pros and cons of RemitBee for your transfer needs? Read everything you need to know in our full guide.

Wise is your international transfer alternative! Send money across the world at the mid-market exchange rate. No hidden fees, no stress.

What is RemitBee? A quick overview

RemitBee is a simple, digital way to send money abroad from Canada.

If you need to send funds to a US bank account, RemitBee is a good choice. You can also exchange US dollars (USD) and Canadian dollars (CAD) online with RemitBee, or exchange other currencies at the RemitBee store.¹

Let’s take a look at RemitBee, including key features, fees, and benefits.

Key features	- Send money in CAD from Canada to other countries - Exchange USD and CAD online - Exchange other currencies in-store, including British pounds (GBP)¹ - Send money in the RemitBee app
Main fees	- Transaction fees² - Exchange rate margins³
Great for	People living in Canada with family abroad or those who get paid in USD and need to exchange it for CAD
Trustpilot® rating	Rated 4.1 (as of 23 November)⁴

RemitBee: key features

RemitBee offers online payment and currency exchange services for people across Canada. You can make various types of payments, including:

• Debit card
• Bank transfer
• Interac® e-transfer
• Online bill payment
• Electronic Funds Transfer (EFT)
• Interac online⁵

You can access a range of different features with RemitBee. Hold funds in your RemitBee Wallet and exchange money between CAD and USD online. If you live in Canada, you can use RemitBee to easily send payments abroad to friends and family.

RemitBee’s International Bill Payment service also lets you pay bills to recipients in 36 countries via the RemitBee app⁶ – and there aren’t any fees for this service.⁷

You can’t pay multiple bills at once with RemitBee, and there aren’t any invoicing features. However, if you need to access more RemitBee services, you can sign up for a RemitBee Business Account. This account offers higher transfer limits and dedicated support for you and your business.⁸

How does RemitBee work?

RemitBee is a convenient way to send and exchange your money. You can sign up online for free and verify your identity in just a few steps.

You can also send a RemitBee transfer to all major banks in the US. Simply select United States in the RemitBee app and enter your recipient’s bank account details. Your recipient will receive a text message notification, letting them access your funds through their US bank account.⁹

There are a few different RemitBee account verification levels – and this may dictate some of the features you can access. For example, users in Level 1 can only send up to 3,000 CAD per month, whereas those in Level 4 can send up to 50,000 CAD.¹⁰

There are some positive Trustpilot reviews for RemitBee, including praise for the platform as a quick solution to send money abroad from Canada.⁴ However, other reviews mention customer service issues, including a lack of transparency when dealing with large amounts of money.⁴

How can you reach out to RemitBee support?

If you need help with a RemitBee transaction, you can access 24-hour customer service, 7 days a week.

There are a few ways to contact customer support. This includes:

• Telephone: 1-647-689-2323
• Email address: customercare@remitbee.com

You can also start an online chat with a customer support agent.¹¹

RemitBee fees and costs

You don’t have to pay to sign up for a RemitBee account – and you won’t pay monthly subscription or maintenance fees, either.

However, there are some RemitBee fees and costs to understand before you start using the platform.

RemitBee transaction fees

RemitBee charges a flat fee for many online transfers, particularly transactions under 500 CAD.

We’ve put together a full guide to RemitBee transaction fees, including everything you need to know before you send your first transfer.

Payment	Transfers under 500 CAD	Transfers over 500 CAD
RemitBee Wallet	2.99 CAD	Free
EFT	2.99 CAD	Free
Interac e-Transfer	2.99 CAD	2.99 CAD
Visa Debit Transaction	From 2.99 CAD	From 8.99 CAD
Mastercard Debit Transaction	From 2.99 CAD	From 8.99 CAD²

International transaction fees

RemitBee helps you send money overseas from Canada – but there are a few international fees to understand.

There are no fees for CAD/USD conversions via RemitBee.¹² However, RemitBee takes an exchange rate margin of 0.3% to 0.8% for each transaction made through the platform.³

Your recipient’s bank may also charge processing or exchange rate fees on any funds, depending on their policy.

Make low cost international transfers with Wise

Another smart option if you’re sending money overseas. Meet Wise.

Register a Wise account online or in the Wise app, and send digital payments from your bank account to 70+ countries, with the mid-market exchange rate and low, transparent fees.

Wise always shows you the amount you’re paying and how much your recipient will get — and you can even compare against other providers on the Wise app or desktop site. If another service is cheaper for your particular payment, you’ll be shown — so you can’t lose.

Send money abroad with Wise

See how Wise compares with international bank transfers in our full guide

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

RemitBee: pros and cons

RemitBee is an easy-to-use platform for sending money abroad from Canada. We’ve put together some pros and cons of RemitBee.

✅ Pros	❌ Cons
Secure money-back guarantee¹² All RemitBee transfers are completed within 2 business days¹³ No fee for direct RemitBee transfers over 500 CAD¹⁴	You can’t pay by credit card¹⁵ Your transfer limit can depend on your account verification level RemitBee charges transaction fees for many transfers You can only transfer money in CAD

What are the benefits of RemitBee?

There are a few key benefits of RemitBee, particularly for digital users. RemitBee doesn’t charge for direct transfers in the app, and you can exchange between CAD and USD online for free.

Your recipient should receive the funds in their account within 2 business days – and RemitBee provides a money-back guarantee if anything goes wrong along the way.

What are the disadvantages of RemitBee?

There are some drawbacks to the RemitBee user experience. You may find the app has limited functionality – particularly if you don’t have a Level 4 account. You also can’t make credit card payments or send multiple payments at once.

If you want to use RemitBee, you can only send your money in CAD, as this platform is aimed at those living in Canada who need to send funds overseas.

Is RemitBee safe?

RemitBee uses key security features to protect your money and your data, like data encryption and a 100% money-back guarantee if anything goes wrong with your transaction.

RemitBee is regulated by the Financial Transactions and Reports Analysis Centre (FINTRAC).¹² The company is also Better Business Bureau (BBB) accredited, which means it’s a trusted online money transfer and currency exchange service.⁵

How does RemitBee compare with other providers?

RemitBee is just one of many online transfer services in Canada and further afield, such as PayPal®, Remitly®, Stripe®, or Wise.

Compared to RemitBee, PayPal lets you send money across the world in multiple currencies, rather than just CAD.¹⁶

You can also connect your credit card to your account to make payments to friends and family, with options to send invoices and batch payments.¹⁷

Compared to platforms like Stripe and PayPal, you can’t use RemitBee to send and receive money within Canada – you can only send money to friends and family overseas.⁵

Unlike other online money transfer platforms, Wise doesn’t charge an exchange rate margin. Receive 9 currencies in just one account with local details.

Conclusion: is RemitBee the right choice for you?

RemitBee offers a range of different payment options for sending your money abroad from Canada.

If you’re based in Canada and you need to send funds to your friends and family in the US, RemitBee could be the right choice for you. However, if you need advanced features from your account, you may want to look into alternative platforms.

To find out more about low-cost global transfers, check out Wise.

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Sources:

1. RemitBee
2. RemitBee
3. RemitBee
4. TrustPilot
5. Finder
6. RemitBee
7. RemitBee
8. RemitBee
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10. RemitBee
11. RemitBee
12. RemitBee
13. RemitBee
14. RemitBee
15. RemitBee
16. PayPal
17. PayPal

Sources checked on 12.04.2023