Remitr International Money Transfer Reviews

Remitr International Money Transfer stands out as a robust solution in the money transfer industry. The platform boasts a clean and user-friendly interface that allows for easy navigation to essential features. One notable advantage is the exchange rate lock at the time of payment, which sets Remitr apart from certain banks and other prominent Canadian payment gateways

The integration between Remitr and QuickBooks falls short in terms of functionality and efficiency. While Remitr allows for the import of open invoices, the handling of payments within QuickBooks is not seamless.

Remitr has revolutionized the international money transfer process, making it both convenient and cost-effective. In the past, international money transfers were often expensive and involved cumbersome procedures.

Remitr is a strong product in the money transfer space. The interface is clean and straightforward, and navigating to key features is quick. We use them for international transfers, and it works perfectly. The price we pay for foreign currency is clearly laid out, the relevant options for transfer are presented clearly, and best of all, the exchange rate locks at time of payment. Some banks and the other leading Canadian payment gateway have floating exchange rates, so you don't have a lock on the price you are paying until the transaction 'clears' on their side. This is particularly unhelpful when the exchange rates are volatile, and you can suddenly find yourself 1 or 2% offside in the time it takes to clear the transaction. On large payments, that is significant.

Integration with Quickbooks is not particularly well done. Remitr can import your open invoices, but payments are captured. Other providers have another layer of integration that clears transactions through a specific account in QBO, and writes the transactions directly to that account. With Remitr, you are clearing those transactions manually, which is slow because the bank statement lines include the Remitr fees, so your bill amount and payment amount don't match (you have to split the transaction into bill payment and fees). This really needs some attention, and limits our use of Remitr.

Also, setting up a beneficiary is really cumbersome. The level of detail required is out of line with what other providers ask for, and you can't edit the beneficiary once you've set them up! So if the contact person at an organization changes, you have to delete that beneficiary and create them again from scratch, which is just a pain. This is one area that has been implemented very poorly.

Sending supplier payments internationally was expensive. Canadian Schedule 1 financial institutions are a non-starter, so you need to look at alternatives. Remitr delivers significant value for money here.