FAQs

+Who can Benefit from Knightsbridge Foreign Exchange’s Services?
Any Canadian business or private client that has foreign exchange requirements (receivable or payable). Typical industry verticals and clients include:
  • Foreign property purchasers (Florida, Arizona, California, or anywhere in the US or Europe);
  • Small and medium sized businesses;
  • Publicly traded companies (oil and gas and mining);
  • Importers and exporters;
  • Manufacturers;
  • Wholesalers and distributors;
  • Transportation;
  • Non-profit organizations;
  • Government organizations;
  • Accountants; and
  • Law firms
We are conveniently integrated with all Canadian banks and you can test our service with a small amount to see how it works.

Have 5 minutes? Get Started Here!

+What is the Amount I am Saving?
With over hundreds of millions of dollars exchanged on behalf of thousands of Canadian businesses and individuals, Knightsbridge Foreign Exchange specializes in helping Canadians save money with better currency exchange rates. On average, a client can save about 1.5% to 2% of their transaction amount compared to their bank's currency exchange rate. This results in several hundreds to thousands of dollars of savings based on your transaction size. We charge no wire service fees and our currency exchange rates are provided and locked-in before you send any funds. Everything is built in to the exchange rate. You have complete transparency and certainty throughout the process, which can be done same-day or next business day. See this article in the Toronto Star discussing how a foreign property purchaser saved $3,000 with Knightsbridge Foreign Exchange compared to using their bank on a US dollar $224,000 purchase with Canadian dollars. The exchange rate you get from your bank may include a substantial markup when you actually transact and convert currency. We call the banks every morning and ensure our exchange rates are cheaper. We offer highly competitive currency exchange rates because of our significant purchasing power and volume agreements with our Canadian financial institution partners. We simply undercut the bank's high markup. Knightsbridge Foreign Exchange has segregated client trust accounts at Canadian financial institutions and is regulated by FINTRAC - your funds are safe.

Have 5 minutes? Get Started Here!

+Can I Book a Currency Transaction at a Rate I Choose?
Yes. KnightsbridgeFX will monitor currency markets for you until your desired exchange rate has been achieved, and will execute your transaction at that time. There is no charge for this service.

Have 5 minutes? Get Started Here!

+Can you Hold an Exchange Rate for me that I Book?
Yes. We can hold an exchange rate for you, regardless of the market movement.

Have 5 minutes? Get Started Here!

+Can Knightsbridge Manage my Foreign Currency Payables and Receivables?
Yes. Knightsbridge can send and receive foreign currency payments, including multiple payments.  Customers often outsource their payment processes to Knightsbridge – simply provide us with the payment details of your payees and we will guarantee they are paid in a timely fashion according to your schedule at competitive exchange rates.

Have 5 minutes? Get Started Here!

+How can I Take Advantage of Exchange Rates when they Move in my Favor?
One of our representatives will help you with this and can contact you when the market moves in your favor.

Have 5 minutes? Get Started Here!

+What is the Difference Between an Order and a Spot Rate?
A spot transaction is an agreement to buy or sell a currency at the current exchange rate.  An order is when you specify a rate that you wish to exchange currency at and when it reaches that level you specify the funds will be converted. All transactions settle same-day or next day.

Have 5 minutes? Get Started Here!

+Are Knightsbridge Foreign Exchange Wire Transfers Safe and Guaranteed?
Yes. Knightsbridge’s wire transfers are executed through Canadian financial institutions.  Each wire transfer is subject to a number of verification procedures to ensure accuracy. Knightsbridge Foreign Exchange has segregated client accounts at Canadian financial institutions and funds can be transferred same-day or next business day.

Have 5 minutes? Get Started Here!

+What is the Typical Size of Currency Transactions?
Our typical transaction size is between $2,000 per transaction and up to $40 million annually. We like to keep our minimum to $2,000 but we have some flexibility.  Our clients include foreign property purchasers, owner operated businesses, and TSX listed companies.

Have 5 minutes? Get Started Here!

+Are There any Costs to Register with Knightsbridge Foreign Exchange?
No. There are no costs to register with Knightsbridge Foreign Exchange. There are no account maintenance fees or any hidden charges. You can test our service with a small amount to see how it works.

Have 5 minutes? Get Started Here!

+How do I Open an Account?
Our foreign exchange team is just one phone call away and ready to help you open an account. Please call us at 1-877-355-5239 to speak with a member of our firm or get started here. We are regulated and are required by law to validate the identity of everyone we work with.

Have 5 minutes? Get Started Here!

+Can I Keep my Existing Banking Relationship?
Yes.  There is no requirement to change your existing banking relationship.  We are conveniently integrated with all Canadian banks and you can test our service with a small amount to see how it works.

Have 5 minutes? Get Started Here!

+How Long Does it Take to Register?
An account can be opened within an hour. Simply mark your application as rush.

Have 5 minutes? Get Started Here!

+Is There any Obligation to use Knightsbridge Foreign Exchange After I Register?
No. There is no obligation to use Knightsbridge Foreign Exchange after you register. You can keep your account open until you need it.

Have 5 minutes? Get Started Here!

+Tell me More About the Security of Funds

Client funds are held in segregated client trust accounts at the Bank of Montreal, separate from operating accounts, and are completely secure. A trade confirmation contract on our letterhead is sent to you upon execution of your currency transaction confirming all agreed upon details for your records. All transactions have a confirmation number and can be traced electronically with Canadian banks. Funds can be transferred quickly, generally same-day or next business day back to your specified destination. Funds are transferred securely by wire transfer or direct deposit.

All companies that transmit money in Canada must be registered and regulated by FINTRAC. We are registered and regulated by FINTRAC ( a Government of Canada agency) and our registration number is M09819788.

Over several billions of dollars have been converted for thousands of our Canadian clients and we have a number of testimonials in third party reputable business media including the Toronto Star and Globe and Mail.

Our client trust accounts and relationship with the Bank of Montreal is in good standing and they are willing to verify this with a bank letter or phone reference (please contact us if required).

We are conveniently integrated with all Canadian banks and you can test our service with a small amount to see how it works.

Have 5 minutes? Get Started Here!

+How Long Does it Take to get Funds Converted?
Transactions are generally processed the same day as the funds are received by Knightsbridge Foreign Exchange. Please specify rush if you need your transaction completed quickly.

Have 5 minutes? Get Started Here!

+How do I Transact with Knightsbridge Foreign Exchange?
1. Call KnightsbridgeFX to book a transaction and lock-in an exchange rate. A trade confirmation will be sent to you confirming the exchange rate and amounts before you transfer any funds to our segregated client trust account. 2. Send funds by online bill payment or wire transfer from your local bank branch depending on who you bank with. Our team will assist you with this.  You can also use our account to account service which works with all Canadian banks. 3. Converted funds are sent back to your account or to the destination of your choice in Canada or the USA within a day if done by wire. We call the banks every morning and ensure our exchange rates are cheaper than the banks.

Have 5 minutes? Get Started Here!

+Are There any Transaction Fees?
No. We do not charge to send wire transfers to your beneficiary. Everything is included in the exchange rate you receive from us.

Have 5 minutes? Get Started Here!

+Who can Benefit from Knightsbridge Foreign Exchange’s Services?
Any Canadian business or private client that has foreign exchange requirements (receivable or payable). Typical industry verticals and clients include:
  • Foreign property purchasers (Florida, Arizona, California, or anywhere in the US or Europe);
  • Small and medium sized businesses;
  • Publicly traded companies (oil and gas and mining);
  • Importers and exporters;
  • Manufacturers;
  • Wholesalers and distributors;
  • Transportation;
  • Non-profit organizations;
  • Government organizations;
  • Accountants; and
  • Law firms
We are conveniently integrated with all Canadian banks and you can test our service with a small amount to see how it works.

Have 5 minutes? Get Started Here!

+What is the Amount I am Saving?
With over hundreds of millions of dollars exchanged on behalf of thousands of Canadian businesses and individuals, Knightsbridge Foreign Exchange specializes in helping Canadians save money with better currency exchange rates. On average, a client can save about 1.5% to 2% of their transaction amount compared to their bank's currency exchange rate. This results in several hundreds to thousands of dollars of savings based on your transaction size. We charge no wire service fees and our currency exchange rates are provided and locked-in before you send any funds. Everything is built in to the exchange rate. You have complete transparency and certainty throughout the process, which can be done same-day or next business day. See this article in the Toronto Star discussing how a foreign property purchaser saved $3,000 with Knightsbridge Foreign Exchange compared to using their bank on a US dollar $224,000 purchase with Canadian dollars. The exchange rate you get from your bank may include a substantial markup when you actually transact and convert currency. We call the banks every morning and ensure our exchange rates are cheaper. We offer highly competitive currency exchange rates because of our significant purchasing power and volume agreements with our Canadian financial institution partners. We simply undercut the bank's high markup. Knightsbridge Foreign Exchange has segregated client trust accounts at Canadian financial institutions and is regulated by FINTRAC - your funds are safe.

Have 5 minutes? Get Started Here!

+Can I Book a Currency Transaction at a Rate I Choose?
Yes. KnightsbridgeFX will monitor currency markets for you until your desired exchange rate has been achieved, and will execute your transaction at that time. There is no charge for this service.

Have 5 minutes? Get Started Here!

+Can you Hold an Exchange Rate for me that I Book?
Yes. We can hold an exchange rate for you, regardless of the market movement.

Have 5 minutes? Get Started Here!

+Can Knightsbridge Manage my Foreign Currency Payables and Receivables?
Yes. Knightsbridge can send and receive foreign currency payments, including multiple payments.  Customers often outsource their payment processes to Knightsbridge – simply provide us with the payment details of your payees and we will guarantee they are paid in a timely fashion according to your schedule at competitive exchange rates.

Have 5 minutes? Get Started Here!

+How can I Take Advantage of Exchange Rates when they Move in my Favor?
One of our representatives will help you with this and can contact you when the market moves in your favor.

Have 5 minutes? Get Started Here!

+What is the Difference Between an Order and a Spot Rate?
A spot transaction is an agreement to buy or sell a currency at the current exchange rate.  An order is when you specify a rate that you wish to exchange currency at and when it reaches that level you specify the funds will be converted. All transactions settle same-day or next day.

Have 5 minutes? Get Started Here!

+Are Knightsbridge Foreign Exchange Wire Transfers Safe and Guaranteed?
Yes. Knightsbridge’s wire transfers are executed through Canadian financial institutions.  Each wire transfer is subject to a number of verification procedures to ensure accuracy. Knightsbridge Foreign Exchange has segregated client accounts at Canadian financial institutions and funds can be transferred same-day or next business day.

Have 5 minutes? Get Started Here!

+What is the Typical Size of Currency Transactions?
Our typical transaction size is between $2,000 per transaction and up to $40 million annually. We like to keep our minimum to $2,000 but we have some flexibility.  Our clients include foreign property purchasers, owner operated businesses, and TSX listed companies.

Have 5 minutes? Get Started Here!

+Are There any Costs to Register with Knightsbridge Foreign Exchange?
No. There are no costs to register with Knightsbridge Foreign Exchange. There are no account maintenance fees or any hidden charges. You can test our service with a small amount to see how it works.

Have 5 minutes? Get Started Here!

+How do I Open an Account?
Our foreign exchange team is just one phone call away and ready to help you open an account. Please call us at 1-877-355-5239 to speak with a member of our firm or get started here. We are regulated and are required by law to validate the identity of everyone we work with.

Have 5 minutes? Get Started Here!

+Can I Keep my Existing Banking Relationship?
Yes.  There is no requirement to change your existing banking relationship.  We are conveniently integrated with all Canadian banks and you can test our service with a small amount to see how it works.

Have 5 minutes? Get Started Here!

+How Long Does it Take to Register?
An account can be opened within an hour. Simply mark your application as rush.

Have 5 minutes? Get Started Here!

+Is There any Obligation to use Knightsbridge Foreign Exchange After I Register?
No. There is no obligation to use Knightsbridge Foreign Exchange after you register. You can keep your account open until you need it.

Have 5 minutes? Get Started Here!

+Tell me More About the Security of Funds

Client funds are held in segregated client trust accounts at the Bank of Montreal, separate from operating accounts, and are completely secure. A trade confirmation contract on our letterhead is sent to you upon execution of your currency transaction confirming all agreed upon details for your records. All transactions have a confirmation number and can be traced electronically with Canadian banks. Funds can be transferred quickly, generally same-day or next business day back to your specified destination. Funds are transferred securely by wire transfer or direct deposit.

All companies that transmit money in Canada must be registered and regulated by FINTRAC. We are registered and regulated by FINTRAC ( a Government of Canada agency) and our registration number is M09819788.

Over several billions of dollars have been converted for thousands of our Canadian clients and we have a number of testimonials in third party reputable business media including the Toronto Star and Globe and Mail.

Our client trust accounts and relationship with the Bank of Montreal is in good standing and they are willing to verify this with a bank letter or phone reference (please contact us if required).

We are conveniently integrated with all Canadian banks and you can test our service with a small amount to see how it works.

Have 5 minutes? Get Started Here!

+How Long Does it Take to get Funds Converted?
Transactions are generally processed the same day as the funds are received by Knightsbridge Foreign Exchange. Please specify rush if you need your transaction completed quickly.

Have 5 minutes? Get Started Here!

+How do I Transact with Knightsbridge Foreign Exchange?
1. Call KnightsbridgeFX to book a transaction and lock-in an exchange rate. A trade confirmation will be sent to you confirming the exchange rate and amounts before you transfer any funds to our segregated client trust account. 2. Send funds by online bill payment or wire transfer from your local bank branch depending on who you bank with. Our team will assist you with this.  You can also use our account to account service which works with all Canadian banks. 3. Converted funds are sent back to your account or to the destination of your choice in Canada or the USA within a day if done by wire. We call the banks every morning and ensure our exchange rates are cheaper than the banks.

Have 5 minutes? Get Started Here!

+Are There any Transaction Fees?
No. We do not charge to send wire transfers to your beneficiary. Everything is included in the exchange rate you receive from us.

Have 5 minutes? Get Started Here!