If you are converting CAD funds you have the following transfer options:
- 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.
- 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.
- 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.
