FAQs

+Have additional questions?
If you have any additional questions, visit our contact page to get in touch with a live agent via telephone or email.
+Tell me about KnightsbridgeFX’s Best Rate Guarantee.
We are guaranteed to offer you a better exchange rate than your financial institution. If you find a better rate from a competitor, once we verify the exchange rate quote we guarantee that we will beat their rate.

Have 5 minutes? Get Started Here!

+Tell me more about the security of funds.

Client funds are held in a segregated account at a major Canadian bank, separate from operating accounts, and are completely secure. We have set aside $1,000,000 for consumer protection.

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 account and relationship with our Canadian bank is in good standing and they are willing to verify this with a bank letter or phone reference (please contact us if required).

We conveniently send money to and can receive money from 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!

+About KnightsbridgeFX

Knightsbridge Foreign Exchange’s head office is located in Toronto, Ontario. We have a team across Canada to serve your needs and can work with Canadians in all provinces. Our entire focus is on you, the customer. Our goal is to ensure you save money on currency exchange.

Our bank beating exchange rates and free wire transfers are great for Canadians buying US real estate, moving to another country, sending money to family, and paying foreign tuition. We undercut the bank exchange rates. Bank exchange rates can include margins of up to 2.5% and most Canadians are unaware they can do a lot better. We call the banks every morning to ensure our exchange rates are better.

We’re proud to be one of the most trusted names in foreign currency exchange in Canada with over 70 media news interviews including 20 video interviews all by Canadian news outlets including the Toronto Star, Globe and Mail, Bloomberg, Reuters, CTV News, and BNN TV, etc. View our leading media presence here. We’re also proud of our A+ rating with the Better Business Bureau. Our goal is to give you a smooth transaction and ensure you save money when exchanging money.

Canadians love using our currency exchange service and we continue to grow. In 2013, Knightsbridge Foreign Exchange has been recognized by PROFIT HOT 50 among Canada’s Top New Growth Companies. Knightsbridge Foreign Exchange was recognized by PROFIT 500 among Canada’s Top-Growing Companies in 2017.

We have processed almost two billion dollars on behalf of clients and our employees have significant experience with currencies. We have preferred exchange rate pricing agreements with Canadian banks. Our large transactional volume allows us to obtain purchasing power – we buy in bulk and pass on the great exchange rates to you along with free wire transfers. Transactions can be done same-day through your existing bank branch or through online bill payment.

Our customers continue to use our services because of our consistent bank beating currency exchange rates, free same day transfers, and professional proactive service. We look forward to working with you.

It is free to sign up, fast, and easy to use. One of our friendly agents will call you to walk you through the process.

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!

+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!

+What do I do once I’ve created an account?
Once you have created an account, you are ready to book your first exchange. When you are interested in making an exchange, contact our trading floor at 1-877-355-5239 and one of our representatives would be happy to lock in an exchange rate for you, as well as explain the process.
+I’ve uploaded by documents, but I have yet to receive a KnightsbridgeFX account number?
Once you have uploaded your documents, you will receive an automated email reply confirming receipt. This means that we are validating your submission. You should receive an email from our compliance department once your account has been created, which usually is completed within one business day. If we require additional information from you, we will contact you by email. If you fail to receive an email reply from us within one business day, kindly check your spam inbox.

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!

+How do I register for a KnightsbridgeFX personal account?
Creating a personal account is very simple. To begin registering for a personal account, click here to complete the registration process. Complete the form entitled "Get Started". We will prompt you for the additional information required to set up the account once the form has been completed. To signup as a corporation, the completion of the "Corporate Form", is required. It can be found on the same page. In addition to the application form, we are required to verify your ID, as well as your address. You will be required to send us a high quality photo or scan of a valid piece of identification (a driver's license or a passport), as well as a copy of a bank statement (or picture of your online banking) showing your name and the bank account number for one deposit account in Canada. You can upload your documents here but only after you have started the process by clicking on "Get Started" at the top. Once your account has been approved, we will send you an email with your Knightsbridge account number. Once you have your account number, you can call our trading floor at 1-877-355-5239 to book an exchange.

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!

+Can I pay with physical cash, cheque, or bank draft?
We are not able to accept payments by cash, cheque, or bank draft.
+Can I pay via debit card or credit card?
We are not able to accept payments from debit or credit cards.
+Can I request a statement of my past transactions?
We are able to provide a summary of your past transactions upon request. Kindly call us at 1-877-355-5239 and our customer service team will be able to submit the request for you.
+How can I take advantage of exchange rates when they move in my favour?
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’s 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 a segregated client account at Canadian financial institutions and funds can be transferred same-day or next business day.

Have 5 minutes? Get Started Here!

+How does KnightsbridgeFX match my money to my account?
The method matching funds to your account depends on the transfer method you use. Wire transfers are matched based on the information passed with the wire transfer from the bank. Bill payments are matched using your name and the account number you have inputted. Account to account transfers are matched using bank statement verification.
+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!

+How do I update my contact information?
To update your contact information, kindly call our customer service department at 1-877-355-5239. Our customer service team will be able to add additional contact information (an additional phone number or email), or we will be able to change the existing information on your account.    
+Can KnightsbridgeFX inform me if funds have reached by beneficiary’s account?
We are able to inform you whether the funds have been sent to their bank. You will need to contact the beneficiary directly to confirm receipt in their account.
+Can KnightsbridgeFX transfer funds to a cryptocurrency account?
No, we are not able to transfer funds to a cryptocurrency account at this time.
+Can KnightsbridgeFX transfer funds directly to my brokerage account?
If your brokerage allows you to fund your account via wire transfer from a third party, we will be able to fund your account directly. Before you book your exchange, confirm whether your brokerage will be able to accept a transfer in this method to fund your account.
+What currencies does KnightsbridgeFX exchange?
We currently handle the following currencies: Canadian Dollar, US Dollar, UK British Pounds, Euro's, Australian Dollars, and New Zealand Dollars. All transfers are done bank to bank, so you will need to specify a destination account in the converted currency for us to transfer the funds into.

Have 5 minutes? Get Started Here!

+What fees apply to outgoing transfers?
KnightsbridgeFX does not charge you to make outgoing payments. The full amount that you purchased will always be sent out fee-free. Receipts of outgoing transfers are available upon request. If your beneficiary is receiving funds by wire transfer, bank fees may apply when receiving the funds and there may be an intermediary bank abroad that may deduct a fee.  You can ask us about the cheapest way to get funds to that desired recipient and we can walk you through the best options.
+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 long should it take for my money to reach my beneficiary?
Wire transfers and bill payments typically settle in 1-2 business days. Transfers overseas are typically 3-4 business days to settle. Transfers made using our account-to-account service settle in 4-5 business days.
+What is the minimum amount I can exchange?
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. When sending funds outside of Canada, intermediary banks and receiving banks may charge the receiving customer to receive a transfer.
+Is it possible to get a receipt of the transfer to my beneficiary?
Yes, receipts of outbound transfers are available upon request.
+How do I send a bill payment to KnightsbridgeFX?
To send a bill payment to KnightsbridgeFX, follow the steps below:
  1. Log into your online banking.
  2. Click the  “Pay Bills & Transfer Funds” tab (the tab where you manage bill payments).
  3. On the bill payment page, locate "Add a Payee", and click it.
  4. If your provider requires you to select a Province, select Ontario.
  5. Search for “Knightsbridge Foreign Exchange Inc.”. Note that misspelling the name will result in a failure to find the payee.
  6. Once you locate Knightsbridge Foreign Exchange Inc., your financial institution will prompt you to enter an account number. The correct input is to use the Knightsbridge account number you were given, which is typically six digits.
  7. Your financial institution may ask if you would like to nickname the payee. Do so if you wish.
  8. Return to “Pay Bills & Transfer Funds” page.
Now KnightsbridgeFX should be setup as a payee in your online banking. You will now be able to make bill payments to us.

Have 5 minutes? Get Started Here!

+How do I send Canadian dollars to Knightsbridge?
If you are converting CAD funds you have the following transfer options:
  1. Account to Account: You provide us with both your CAD and USD account information. We are integrated with every financial institution in Canada. We will debit your CAD account and credit your USD with the converted funds. This process takes 4 – 5 business days to settle back into your account. Both accounts must be in Canada and under the registered clients name. Transfers can be made between different banking institutions, provided that both accounts are in the same name. This method is only available when converted funds between two accounts in Canada, so is unable for the majority of foreign currencies.
  2. Wire Transfer: You initiate a wire transfer to KnightsbridgeFX of the CAD funds, and we would wire or direct deposit the converted funds into the desired account in that currency. This process typically settles in 1-2 business days. You may transfer funds to a third party using this method. Same day wire transfers are possible. Be advised that your bank may charge you a fee to send or receive a wire transfer. Knightsbridge FX does not charge any additional fees other than its exchange rates.
  3. Bill Payment: We are also listed as a bill payee with several Canadian financial institutions. These include:BMO, RBC, Desjardins, National Bank and some Credit Unions. You would be able to transfer CAD funds to Knightsbridge Foreign Exchange via Bill payment and we would, in turn, be able to transfer the funds to the desired account. This method takes 2 business days to settle. Direct deposit is only available within Canada. Funds can only be sent internationally as a wire. Knightsbridge FX does not charge any additional fees other than its exchange rates.

Have 5 minutes? Get Started Here!

+How do I send U.S. dollars to Knightsbridge?
If you are converting USD funds you have the following transfer options: USD funds with a Bank in Canada:
  1. Account to Account: You provide us with both your USD and CAD account information. We are integrated with every financial institution in Canada. We will debit your USD account and credit your CAD with the converted funds. This process takes 4 – 5 business days to settle back into your account. Both accounts must be in Canada and under the registered clients name. Transfers can be made between different banking institutions, provided that both accounts are in the same name. This method is only available when converted funds between two accounts in Canada, so is unable for the majority of foreign currencies.
  2. Wire Transfer: You initiate a wire transfer to KnightsbridgeFX of the USD funds, and we would wire or direct deposit the converted funds into your account in that currency. This process typically settles in 1-2 business days. Same day wire transfers are possible. Be advised that your bank may charge you a fee to send or receive a wire transfer. Knightsbridge FX does not charge any additional fees other than its exchange rates. If you are exchanging USD into a currency other than CAD, this is the method you would use.
USD funds with a Bank in The United States:
  1. Wire Transfer: You initiate a wire transfer to KnightsbridgeFX of the USD funds, and we would wire or direct deposit the converted funds into your account in the converted currency. This process typically settles in 1-2 business days. Same day wire transfers are possible. Be advised that your bank may charge you a fee to send or receive a wire transfer. Knightsbridge FX does not charge any additional fees other than its exchange rates. If you are exchanging USD into a currency other than CAD, this is the method you would use.
  2. Move funds to a USD account in Canada.  If you have a USD account within Canada, you can transfer the US dollars from your own United States Account to your USD account in Canada yourself or by cheque.  Once it is in a local account in Canada in USD, you can use the Account to Account method.  If you do not have a USD account in Canada, you can open one with your bank or use the wire transfer method.

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!

+What is the best way to receive funds from you?
Receiving Canadian or U.S Dollars within Canada If you are receiving Canadian or U.S. dollars from us and the funds are arriving at a bank in Canada in your name, we typically send it by direct deposit, which has no receiving fees.  If you require the funds rushed back by wire transfer or to a third party, we cover the outgoing wire fee, but your bank may charge you a small receiving wire fee.  Direct deposit is the best way to receive funds in Canada which is the default method we use to send funds in Canada. Receiving U.S Dollars outside of Canada or any other currency in Canada or abroad If you are receiving U.S. dollars in the USA or abroad, we cover the outgoing wire fee, which we pay to our bank.  However, the intermediary bank in the USA and the receiving bank may charge a fee to process and receive the funds.  This is a fee we do not cover and is borne by the receiver of the funds.  It can vary by bank, but typically ranges from $10-25.  If you are receiving Euro's, British Pounds, Australian, or New Zeeland Dollars, we cover the outgoing wire fee, which we pay to our bank, and there may be intermediary or receiving bank fees by banks in the middle, which we do not cover.  These fees can have a wide range depending on the destination country. If you have any questions about this, please email [email protected].  
+Have additional questions?
If you have any additional questions, visit our contact page to get in touch with a live agent via telephone or email.
+Tell me about KnightsbridgeFX’s Best Rate Guarantee.
We are guaranteed to offer you a better exchange rate than your financial institution. If you find a better rate from a competitor, once we verify the exchange rate quote we guarantee that we will beat their rate.

Have 5 minutes? Get Started Here!

+Tell me more about the security of funds.

Client funds are held in a segregated account at a major Canadian bank, separate from operating accounts, and are completely secure. We have set aside $1,000,000 for consumer protection.

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 account and relationship with our Canadian bank is in good standing and they are willing to verify this with a bank letter or phone reference (please contact us if required).

We conveniently send money to and can receive money from 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!

+About KnightsbridgeFX

Knightsbridge Foreign Exchange’s head office is located in Toronto, Ontario. We have a team across Canada to serve your needs and can work with Canadians in all provinces. Our entire focus is on you, the customer. Our goal is to ensure you save money on currency exchange.

Our bank beating exchange rates and free wire transfers are great for Canadians buying US real estate, moving to another country, sending money to family, and paying foreign tuition. We undercut the bank exchange rates. Bank exchange rates can include margins of up to 2.5% and most Canadians are unaware they can do a lot better. We call the banks every morning to ensure our exchange rates are better.

We’re proud to be one of the most trusted names in foreign currency exchange in Canada with over 70 media news interviews including 20 video interviews all by Canadian news outlets including the Toronto Star, Globe and Mail, Bloomberg, Reuters, CTV News, and BNN TV, etc. View our leading media presence here. We’re also proud of our A+ rating with the Better Business Bureau. Our goal is to give you a smooth transaction and ensure you save money when exchanging money.

Canadians love using our currency exchange service and we continue to grow. In 2013, Knightsbridge Foreign Exchange has been recognized by PROFIT HOT 50 among Canada’s Top New Growth Companies. Knightsbridge Foreign Exchange was recognized by PROFIT 500 among Canada’s Top-Growing Companies in 2017.

We have processed almost two billion dollars on behalf of clients and our employees have significant experience with currencies. We have preferred exchange rate pricing agreements with Canadian banks. Our large transactional volume allows us to obtain purchasing power – we buy in bulk and pass on the great exchange rates to you along with free wire transfers. Transactions can be done same-day through your existing bank branch or through online bill payment.

Our customers continue to use our services because of our consistent bank beating currency exchange rates, free same day transfers, and professional proactive service. We look forward to working with you.

It is free to sign up, fast, and easy to use. One of our friendly agents will call you to walk you through the process.

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!

+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!

+What do I do once I’ve created an account?
Once you have created an account, you are ready to book your first exchange. When you are interested in making an exchange, contact our trading floor at 1-877-355-5239 and one of our representatives would be happy to lock in an exchange rate for you, as well as explain the process.
+I’ve uploaded by documents, but I have yet to receive a KnightsbridgeFX account number?
Once you have uploaded your documents, you will receive an automated email reply confirming receipt. This means that we are validating your submission. You should receive an email from our compliance department once your account has been created, which usually is completed within one business day. If we require additional information from you, we will contact you by email. If you fail to receive an email reply from us within one business day, kindly check your spam inbox.

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!

+How do I register for a KnightsbridgeFX personal account?
Creating a personal account is very simple. To begin registering for a personal account, click here to complete the registration process. Complete the form entitled "Get Started". We will prompt you for the additional information required to set up the account once the form has been completed. To signup as a corporation, the completion of the "Corporate Form", is required. It can be found on the same page. In addition to the application form, we are required to verify your ID, as well as your address. You will be required to send us a high quality photo or scan of a valid piece of identification (a driver's license or a passport), as well as a copy of a bank statement (or picture of your online banking) showing your name and the bank account number for one deposit account in Canada. You can upload your documents here but only after you have started the process by clicking on "Get Started" at the top. Once your account has been approved, we will send you an email with your Knightsbridge account number. Once you have your account number, you can call our trading floor at 1-877-355-5239 to book an exchange.

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!

+Can I pay with physical cash, cheque, or bank draft?
We are not able to accept payments by cash, cheque, or bank draft.
+Can I pay via debit card or credit card?
We are not able to accept payments from debit or credit cards.
+Can I request a statement of my past transactions?
We are able to provide a summary of your past transactions upon request. Kindly call us at 1-877-355-5239 and our customer service team will be able to submit the request for you.
+How can I take advantage of exchange rates when they move in my favour?
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’s 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 a segregated client account at Canadian financial institutions and funds can be transferred same-day or next business day.

Have 5 minutes? Get Started Here!

+How does KnightsbridgeFX match my money to my account?
The method matching funds to your account depends on the transfer method you use. Wire transfers are matched based on the information passed with the wire transfer from the bank. Bill payments are matched using your name and the account number you have inputted. Account to account transfers are matched using bank statement verification.
+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!

+How do I update my contact information?
To update your contact information, kindly call our customer service department at 1-877-355-5239. Our customer service team will be able to add additional contact information (an additional phone number or email), or we will be able to change the existing information on your account.    
+Can KnightsbridgeFX inform me if funds have reached by beneficiary’s account?
We are able to inform you whether the funds have been sent to their bank. You will need to contact the beneficiary directly to confirm receipt in their account.
+Can KnightsbridgeFX transfer funds to a cryptocurrency account?
No, we are not able to transfer funds to a cryptocurrency account at this time.
+Can KnightsbridgeFX transfer funds directly to my brokerage account?
If your brokerage allows you to fund your account via wire transfer from a third party, we will be able to fund your account directly. Before you book your exchange, confirm whether your brokerage will be able to accept a transfer in this method to fund your account.
+What currencies does KnightsbridgeFX exchange?
We currently handle the following currencies: Canadian Dollar, US Dollar, UK British Pounds, Euro's, Australian Dollars, and New Zealand Dollars. All transfers are done bank to bank, so you will need to specify a destination account in the converted currency for us to transfer the funds into.

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+What fees apply to outgoing transfers?
KnightsbridgeFX does not charge you to make outgoing payments. The full amount that you purchased will always be sent out fee-free. Receipts of outgoing transfers are available upon request. If your beneficiary is receiving funds by wire transfer, bank fees may apply when receiving the funds and there may be an intermediary bank abroad that may deduct a fee.  You can ask us about the cheapest way to get funds to that desired recipient and we can walk you through the best options.
+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.

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+How long should it take for my money to reach my beneficiary?
Wire transfers and bill payments typically settle in 1-2 business days. Transfers overseas are typically 3-4 business days to settle. Transfers made using our account-to-account service settle in 4-5 business days.
+What is the minimum amount I can exchange?
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. When sending funds outside of Canada, intermediary banks and receiving banks may charge the receiving customer to receive a transfer.
+Is it possible to get a receipt of the transfer to my beneficiary?
Yes, receipts of outbound transfers are available upon request.
+How do I send a bill payment to KnightsbridgeFX?
To send a bill payment to KnightsbridgeFX, follow the steps below:
  1. Log into your online banking.
  2. Click the  “Pay Bills & Transfer Funds” tab (the tab where you manage bill payments).
  3. On the bill payment page, locate "Add a Payee", and click it.
  4. If your provider requires you to select a Province, select Ontario.
  5. Search for “Knightsbridge Foreign Exchange Inc.”. Note that misspelling the name will result in a failure to find the payee.
  6. Once you locate Knightsbridge Foreign Exchange Inc., your financial institution will prompt you to enter an account number. The correct input is to use the Knightsbridge account number you were given, which is typically six digits.
  7. Your financial institution may ask if you would like to nickname the payee. Do so if you wish.
  8. Return to “Pay Bills & Transfer Funds” page.
Now KnightsbridgeFX should be setup as a payee in your online banking. You will now be able to make bill payments to us.

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+How do I send Canadian dollars to Knightsbridge?
If you are converting CAD funds you have the following transfer options:
  1. Account to Account: You provide us with both your CAD and USD account information. We are integrated with every financial institution in Canada. We will debit your CAD account and credit your USD with the converted funds. This process takes 4 – 5 business days to settle back into your account. Both accounts must be in Canada and under the registered clients name. Transfers can be made between different banking institutions, provided that both accounts are in the same name. This method is only available when converted funds between two accounts in Canada, so is unable for the majority of foreign currencies.
  2. Wire Transfer: You initiate a wire transfer to KnightsbridgeFX of the CAD funds, and we would wire or direct deposit the converted funds into the desired account in that currency. This process typically settles in 1-2 business days. You may transfer funds to a third party using this method. Same day wire transfers are possible. Be advised that your bank may charge you a fee to send or receive a wire transfer. Knightsbridge FX does not charge any additional fees other than its exchange rates.
  3. Bill Payment: We are also listed as a bill payee with several Canadian financial institutions. These include:BMO, RBC, Desjardins, National Bank and some Credit Unions. You would be able to transfer CAD funds to Knightsbridge Foreign Exchange via Bill payment and we would, in turn, be able to transfer the funds to the desired account. This method takes 2 business days to settle. Direct deposit is only available within Canada. Funds can only be sent internationally as a wire. Knightsbridge FX does not charge any additional fees other than its exchange rates.

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+How do I send U.S. dollars to Knightsbridge?
If you are converting USD funds you have the following transfer options: USD funds with a Bank in Canada:
  1. Account to Account: You provide us with both your USD and CAD account information. We are integrated with every financial institution in Canada. We will debit your USD account and credit your CAD with the converted funds. This process takes 4 – 5 business days to settle back into your account. Both accounts must be in Canada and under the registered clients name. Transfers can be made between different banking institutions, provided that both accounts are in the same name. This method is only available when converted funds between two accounts in Canada, so is unable for the majority of foreign currencies.
  2. Wire Transfer: You initiate a wire transfer to KnightsbridgeFX of the USD funds, and we would wire or direct deposit the converted funds into your account in that currency. This process typically settles in 1-2 business days. Same day wire transfers are possible. Be advised that your bank may charge you a fee to send or receive a wire transfer. Knightsbridge FX does not charge any additional fees other than its exchange rates. If you are exchanging USD into a currency other than CAD, this is the method you would use.
USD funds with a Bank in The United States:
  1. Wire Transfer: You initiate a wire transfer to KnightsbridgeFX of the USD funds, and we would wire or direct deposit the converted funds into your account in the converted currency. This process typically settles in 1-2 business days. Same day wire transfers are possible. Be advised that your bank may charge you a fee to send or receive a wire transfer. Knightsbridge FX does not charge any additional fees other than its exchange rates. If you are exchanging USD into a currency other than CAD, this is the method you would use.
  2. Move funds to a USD account in Canada.  If you have a USD account within Canada, you can transfer the US dollars from your own United States Account to your USD account in Canada yourself or by cheque.  Once it is in a local account in Canada in USD, you can use the Account to Account method.  If you do not have a USD account in Canada, you can open one with your bank or use the wire transfer method.

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+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.

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+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.

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+What is the best way to receive funds from you?
Receiving Canadian or U.S Dollars within Canada If you are receiving Canadian or U.S. dollars from us and the funds are arriving at a bank in Canada in your name, we typically send it by direct deposit, which has no receiving fees.  If you require the funds rushed back by wire transfer or to a third party, we cover the outgoing wire fee, but your bank may charge you a small receiving wire fee.  Direct deposit is the best way to receive funds in Canada which is the default method we use to send funds in Canada. Receiving U.S Dollars outside of Canada or any other currency in Canada or abroad If you are receiving U.S. dollars in the USA or abroad, we cover the outgoing wire fee, which we pay to our bank.  However, the intermediary bank in the USA and the receiving bank may charge a fee to process and receive the funds.  This is a fee we do not cover and is borne by the receiver of the funds.  It can vary by bank, but typically ranges from $10-25.  If you are receiving Euro's, British Pounds, Australian, or New Zeeland Dollars, we cover the outgoing wire fee, which we pay to our bank, and there may be intermediary or receiving bank fees by banks in the middle, which we do not cover.  These fees can have a wide range depending on the destination country. If you have any questions about this, please email [email protected].