1. How do I set up an Account ?
Forex Remit Foreign Exchange are only one phone call away. Just call and we will set up your account. OR you can register via online, please visit the Registration page of our website.
2. How long does the average Forex Remit money transfer take from Canada to reach Beneficiary ?
It usually takes between 1 and 3 business days for money to be paid into your beneficiary’s account in any Bank from the day that Forex Remit receives your funds into our account. Cash pick-up is available next business day.
Please remember that failure to provide Forex Remit with the necessary ID documents will delay the transfer process.
3. What is a beneficiary account ?
A beneficiary account is the overseas bank account into which you would like your money to be transferred. Clients will need to login to our online money transfer system and create the beneficiary bank account into which you will send money.
4. When can I start using Forex Remit ?
You can use our money transfer service as soon as you have completed the Registration process and we have activated your Forex Remit account.
You would need to complete Step 2 by sending us a clear copy of your passport and copy of your bank statement as is required under MSB guideline 6C issued by Fintrac in Canada.
Clients will receive a Member ID and Password which they can use to send money online or call our dealers for a foreign exchange quote.
5. Is my money transfer guaranteed to arrive in my beneficiary account ?
Yes. Given that all your beneficiary account (payment details) details are correctly provided to Forex Remit, then your money is guaranteed to arrive safely in your chosen beneficiary account.
6. How much money can I send through Forex Remit ?
Forex Remit Foreign Exchange accepts a minimum transaction amount of $50 and a maximum of $5,000,000.
7. Do you accept cash deposits into Forex Remit client monies account ?
No. Forex Remit does not accept cash deposits. We only accept bank to bank transfers done via internet or telephone banking, Bank Draft. Clients need to use their internet banking facilities or visit their branch to instruct the money to be paid into our bank account. Once we receive these funds they are converted at the agreed money transfer rate and we then send money overseas for clients.
8. Can my Beneficiary collect from any Bank ?
Yes, the beneficiary can collect the money from any branch of authorized Bank with Forex Remit, we do not offer the service for collection at unauthorized Banks.
9. Can I pay for my transfer using my credit card ?
No. Forex Remit does not accept credit card payments due to our strict adherence to anti-money laundering regulations. We are accepting Online Interac using BMO (Bank of Montreal), RBC (Royal Bank of Canada), ScotiaBank and TD Canada Trust online Banking.