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Business Profile

Foreign Currency Exchange Broker

Knightsbridge Foreign Exchange
BBB accredited business seal
BBB Accredited BusinessA+Rated by BBB

Reviews

Customer Review Ratings

3.17

Average of 6 Customer Reviews

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Review Details

  • Merna J

    Date: 01/02/2024

    Merna J

    Date: 01/02/2024

    On the website, it says it is simple to set up an account, book funds and complete the transfer and can be done within a day or so. Unfortunately, that was definitely not my experience. It took about a month to actually set up the account. They repeatedly asked me to send my personal information and upload ID. Now that I want to book and receive some funds (not a huge amount), I have been asked to fill out a form with further personal information and let them know what I want the funds for. I have nothing to hide, but really is that any of their business? Also, it would take about 5 business days to receive the funds. I understand there are FINTRAC requirements but the amount of money I requested is far below the FINTRAC threshold. This has been a very unfriendly process and I am closing my account. The hassle is not worth the small savings.

    Knightsbridge Foreign Exchange

    Date: 11/06/2024

    Hi *****; I'm sorry about your experience. We should be able to setup your account within a day or so as long as we have the information needed. I will follow up with our back office to see what happened. You can always always email *******@***************.com for any follow up or to get a manger to look in to your request.. There are a few transfer methods from same day to longer based on the bank it is from and to and amount of your transaction and currency. If you call me at ###-###-####, I would be happy to make it up to you on any future exchange you have. Thanks, Rick KnightsbridgeFX

  • Darwin S

    Date: 18/11/2023

    Adam did a great job. Answered all questions in a very timely fashion. Could not have asked for a better representative.

  • JOHN G

    Date: 18/11/2023

    JOHN A. did a fantastic job on assisting me in my exchange. A great company with excellent customer service. Thanks Adam !????

  • Joe H

    Date: 13/11/2023

    Adam did a fantastic job on assisting me in my exchange. A great company with excellent customer service. Thanks Adam !????

  • Milton R

    Date: 17/08/2023

    Milton R

    Date: 17/08/2023

    I called to convert large amount of Euros to Canadian and sent a wire for the Euros. I was told at time of trade that it would take 24 hours to get the funds into my Canadian Bank Account. I called the next day to check on status and received confirmation by the same trader that yes, it should take 24 hours and they transferred me to the processing department to check on status. Processing Dept told me it would take about 7 days not 24 hours. I needed the money to close a transaction and had to find another last minute solution. Receiving the wrong information was extremely disruptive, stressful, and put my transaction at risk. Having received the wrong timeline information twice, I am now worried that the trade won't be completed in even 7 days, which would cause some further complications.

    Knightsbridge Foreign Exchange

    Date: 24/10/2023

    Hi Milton; Thank you for the business. I looked in to your transaction and see that it has settled and reached your account. Wire transfers in CAD and USD are done in about 24 hours when sent and received as a wire, but our EUR transactions take longer. When you sent the funds from your bank to our account in Germany, this takes several days since the accounts are based in Europe and your bank won't be able to get the funds there in 1 business day along with it being in different time zones. I'm deeply sorry for any miscommunication. You can reach me directly at 1-877-355-5239 ext 101 and I'd be happy to make everything right for you.

  • Leon R

    Date: 02/11/2022

    Leon R

    Date: 02/11/2022

    Their website claimed a savings of over $300 if I exchanged $10,000 usd but when I called it was only $150 usd, when I asked why the difference they said it fluctuates all the time? From $300 to $150...** **** ** ****** *** ************** ************

    Knightsbridge Foreign Exchange

    Date: 01/02/2023

    Hi, Thanks for the message. We provided you a link to the source exchange rate for your bank, it is publicly available online which is what we use, and if you check your banks buy rate and compare it to the bank sell rate from the publicly available information, even now, the difference for your bank is about 7%-8% from the buy and sell rate. The rates fluctuate all the time, and the savings is approximate, given how the markets are constantly changing. We try our best to make sure you are saving money compared to your bank. We think the banks are charging too much for their exchange rates and we are trying our best to help Canadians save money compared to the bank.

    Leon R

    Date: 01/02/2023

    I agree, Knightsbridge does save you money when you exchange but not the advertised savings claimed on your website?

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