Launched in 2015 and registered under the Canada Business Corporations Act, RemitBee has emerged as a well-known company specializing in transferring money.

The company has gained huge popularity mainly because of its reliable service and ease of use. RemitBee also boasts of its attentive customer support. For transferring your hard-earned money, you can rely on RemitBee.

How to make a transaction

The procedure is super easy. Do not worry if you do not know how a service like it works. Just create your account and then follow these instructions:

1. Find the option “Send Money” and select it.
2. Select the country of your recipient.
3. Enter the exact amount you are going to transfer. After that, select your receiving method.
4. A drop-down menu will appear and from that menu select a reason for the transaction.
5. Now provide the details of your recipient.
6. If this is your first transaction, you will be asked to provide your information. You will not be asked to undergo this step multiple times.
7. Then you have to select your occupation and industry from the drop-down options.
8. As a user of this service, you must have a Canadian bank account. Select the bank.
9. RemitBee offers multiple payment methods and you have to choose one.
10. Provide the payment details according to the instructions.
11. Then confirm the details.

This is what the procedure looks like. It is not very different from using other companies of this sort. Unless the service makes changes to its interface, you can get the job done just by completing the steps detailed above.

Fees & exchange rates

If it is the first time you are making a transfer, RemitBee will not charge any fee. That means you can try this out for free. However, the fees are low, and the rates are far better than the rates offered by banks. The size of your transfer will determine the fees. In other words, it depends on how much money is being sent. It is usually free of charge if it is done via mobile wallet. The minimum fee for a bank transfer is CA $2.99. Let’s clarify it. If you are transferring CA $1001-1500 via INTERAC, they will charge you CA $2.99.

But the transaction is free if it is being done via a mobile wallet. If you are doing it via MasterCard or VISA, the cost will be higher—CA$14.99.  RemitBee’s margin is low—it is just a little bit higher than mid-market exchange rates. So, RemitBee is able to offer you a competitive rate. The margin is usually below 1%.

Advantages

There are a host of reasons why so many people now rely on RemitBee. RemitBee is run by immigrants to Canada. The mission of this company is to help people transfer their hard-earned money back home. In terms of exchange rates, very few companies are comparable with RemitBee. In order to maintain its competitive position, RemitBee offers better exchange rates than the banks.

The company has an app and it is designed for speed and efficiency. The process of transferring your money takes just a few hours. The customer service is amazing. The folks at the help desk are always willing to help you. Another great thing about RemitBee is that it offers a fee-free option. If you use the My Wallet option, you can enjoy the fee-free transfers. While using RemitBee, you will not have to worry about hidden fees. We can predict that RemitBee will grow in popularity in the near future.