KnightsbridgeFX quoted a lower Canadian dollar cost than RBC in all seven examples in our dated test on October 30, 2026.
Key takeaways
- KnightsbridgeFX quoted a lower cost in all seven examples. Added together, the seven separate examples (US$28,000 in all) cost C$39,166.80 with KnightsbridgeFX versus C$39,916.80 at RBC, a difference of C$750.00. This is a sum of seven quotes, not a single US$28,000 quote.
- RBC's rate that morning was 1.4256 CAD per USD, about 2.0% above the interbank rate of 1.3971 we recorded at 10:45 a.m. ET.
- The saving was larger on larger amounts in most examples, from C$20.50 on US$1,000 to C$199.50 on US$7,000. Two quotes, US$1,000 and US$5,000, came in at a higher KnightsbridgeFX rate (1.4051) than the other five (1.3971), so the pattern is not perfectly even.
- For bigger orders, RBC's online calculator will not give you a firm number. You need to call RBC directly, and KnightsbridgeFX says it will work to beat any bank quote you bring it.
- RBC is still the more convenient option for someone who wants to stay inside one bank and is converting a small amount.
How we ran the test
We wanted a fair, repeatable comparison, so we kept the method simple.
What we compared: CAD to USD, the Canadian dollars needed to buy a fixed US dollar amount. RBC figures are its public non-cash calculator rates; KnightsbridgeFX figures are telephone quotes. Both were recorded on the morning of October 30, 2026. RBC's negotiated or account-specific rates may differ from its public calculator. The test does not cover USD to CAD.
- Benchmark rate
- At 10:45 a.m. ET on October 30, 2026, the live interbank (mid-market) USD to CAD rate was 1.3971, in line with Investing.com's live USD/CAD quote and the Bank of Canada's published rate of 1.3985 for October 29. That is the previous business day's official rate, given for context only; every markup on this page is measured against 1.3971.
- RBC
- We used RBC's Foreign Exchange Currency Converter, set to Canadian dollars to U.S. dollars. We entered the USD amount we wanted to receive and recorded the CAD cost. RBC labels these as non-cash rates as of October 30, 2026.
- KnightsbridgeFX
- We called the toll-free line, 1-877-355-5239 (ext. 1), and asked for the same seven USD amounts. A quote can also be requested by email at [email protected].
- Amounts tested
- US$1,000 to US$7,000 in US$1,000 steps.
Results: KnightsbridgeFX vs RBC (CAD needed to receive USD)
| USD you receive | Cost at RBC (CAD) | Cost at KnightsbridgeFX (CAD) | You keep with KnightsbridgeFX |
|---|---|---|---|
| US$1,000 | C$1,425.60 | C$1,405.10 | C$20.50 |
| US$2,000 | C$2,851.20 | C$2,794.20 | C$57.00 |
| US$3,000 | C$4,276.80 | C$4,191.30 | C$85.50 |
| US$4,000 | C$5,702.40 | C$5,588.40 | C$114.00 |
| US$5,000 | C$7,128.00 | C$7,025.50 | C$102.50 |
| US$6,000 | C$8,553.60 | C$8,382.60 | C$171.00 |
| US$7,000 | C$9,979.20 | C$9,779.70 | C$199.50 |
| Total (US$28,000) | C$39,916.80 | C$39,166.80 | C$750.00 |
Test conducted October 30, 2026, 10:45 a.m. ET. Interbank reference rate: 1.3971. Rates change throughout the day. This is a snapshot, not a guarantee of future pricing. The total row adds up seven separate examples; it is not a single US$28,000 quote. KnightsbridgeFX's US$1,000 and US$5,000 quotes were at 1.4051 CAD per USD, the other five at 1.3971. Download the test data (CSV).
What the numbers mean
RBC's rate of 1.4256 works out to about 2.0% above the interbank rate of 1.3971. That difference is not shown as a fee. It is built into the exchange rate you are given, which is what the Financial Consumer Agency of Canada calls a currency conversion markup. The agency notes that banks must disclose the rate they use, but not the markup as its own cost, so the only way to see it is to compare against the mid-market rate.
Markup (%) = (provider CAD per USD rate ÷ interbank rate − 1) × 100 RBC: (1.4256 ÷ 1.3971 − 1) × 100 = 2.04%
Why RBC's rate looks different from Google
The rate you see on Google, XE or the Bank of Canada is a mid-market rate. It is the midpoint between what wholesale buyers and sellers pay. Retail banks, including RBC, use their own rate for client transactions, and that rate sits above the mid-market rate when you buy US dollars.
RBC says on its own foreign exchange pages that client transactions use retail rates rather than the wholesale rates quoted in the media. That is normal across Canadian banks. It is also why two providers quoting "no fee" can give you different amounts of money.
Wire fees are a separate cost. RBC lists outgoing wires starting at C$45 or US$45, and notes that intermediary or receiving banks may charge their own fees. A wire fee applies when you send money by wire; converting between your own RBC accounts is not a wire.
How KnightsbridgeFX pricing works
KnightsbridgeFX is a Canadian currency exchange provider. You sign up, verify your ID, book a trade, send funds from your Canadian bank account, and the converted money is delivered to your US dollar bank account.
- No commission. Pricing is built into the rate.
- Larger amounts get tighter pricing, according to KnightsbridgeFX.
- Live quotes from a person. You can call, email or chat for a quote before you commit.
- Free outgoing wires from KnightsbridgeFX. A receiving bank can still charge its own incoming fee.
You can see the company's current bank comparison on its exchange rate comparison page.
The Best Rate Guarantee
KnightsbridgeFX checks bank exchange rates every morning and says it guarantees to beat your bank's exchange rate, as set out in its Best Rate Guarantee FAQ.
How it works in practice
- Get a quote from your bank for the amount and currency pair you need, on the same day.
- Send that quote to KnightsbridgeFX before you book your trade.
- KnightsbridgeFX verifies the quote with its trading floor and works to beat it.
When we spoke with customer service, they told us they will work to beat any amount quoted by RBC as long as the quote is provided in writing.
What about bigger orders?
RBC's online calculator is built for everyday amounts. For larger conversions, you need to call RBC and speak with a representative, and you may or may not get a rate different from the posted one. That is worth testing, and it is the reason the guarantee exists.
If you are converting a larger sum
- Call RBC and ask for the exact CAD cost to receive your USD amount.
- Ask for the quote in writing or by email.
- Call KnightsbridgeFX at 1-877-355-5239 (ext. 1) or email [email protected] with the RBC quote.
- Compare the final Canadian dollar number, not the advertised fee.
Because the markup is a percentage, the dollar impact scales with the amount. The 2.0% gap we saw is about C$200 on every US$7,000. As a hypothetical illustration, not a tested quote: on US$50,000, a 2.0% markup would be roughly C$1,400, before any negotiated rate from either provider.
KnightsbridgeFX vs RBC at a glance
| KnightsbridgeFX | RBC | |
|---|---|---|
| Provider type | Online currency exchange, FINTRAC-registered money services business | Big Six bank |
| How you get a rate | Phone, email, chat or online account | Online calculator, app, branch or phone |
| Result in our test | Lower CAD cost on 7 of 7 amounts | Higher CAD cost on 7 of 7 amounts |
| Rate vs interbank (October 30, 2026) | 0.00% to 0.57% above interbank in our test | About 2.0% above interbank |
| Commission | None | None shown, cost built into the rate |
| Larger orders | Quotes by phone, will work to beat a bank quote | Call RBC for a quote |
| Cash | Not accepted | Branch cash transactions available |
| Best for | Planned conversions of a few thousand dollars or more | Small amounts and convenience |
Who should use which?
RBC is a reasonable choice if you:
- Are converting a small amount and want it done inside your existing RBC accounts
- Need physical cash
- Value convenience over a smaller saving
KnightsbridgeFX is the better choice if you:
- Are buying US dollars for a property purchase, tuition, travel funds, a supplier payment or a US investment
- Convert a few thousand dollars or more and want the best final number
- Want to speak to a person and get a live quote before you commit
- Want a provider that will try to beat a competing quote
How to get a quote from KnightsbridgeFX
- Check your bank's rate first. Use the RBC calculator or your own bank's tool for the exact USD amount you need.
- Request a quote. Call 1-877-355-5239 (ext. 1) or email [email protected]. You can also try the currency converter.
- Sign up and verify. Registration takes a few minutes and requires ID.
- Book and fund. Send funds from your Canadian bank account by bill payment, Interac e-transfer, wire or EFT.
- Receive your US dollars. Delivery is usually the same day or the next business day for major currencies.
Compare both on the same day, for your exact amount.
For more detail on how the process works, read KnightsbridgeFX's how it works page. On this site, read our similar test against TD, KnightsbridgeFX vs TD, and see today's CAD to USD rates and bank comparison, the live USD to CAD rate and historical USD to CAD averages.
Is KnightsbridgeFX safe?
KnightsbridgeFX is registered with FINTRAC as a money services business, MSB number M09819788. You can check the registration yourself in FINTRAC's public registry by searching for the company name. It has operated in Canada since 2009.
FINTRAC registration means the business is registered and must follow Canada's anti-money laundering rules. It is not deposit insurance, and it does not guarantee your money the way CDIC insurance covers bank deposits.
KnightsbridgeFX says client funds are held in a segregated account at a major Canadian bank. As of October 1, 2026, KnightsbridgeFX reports 4.8 out of 5 from 631 Google reviews, 4.9 out of 5 from 168 Trustpilot reviews, and an A+ rating with the Better Business Bureau. Ratings change over time, so check the current scores on Google, Trustpilot and the BBB before you decide. Read more about the company on its about page.
Frequently asked questions
Is KnightsbridgeFX cheaper than RBC?
In our dated test on October 30, 2026, KnightsbridgeFX quoted a lower Canadian dollar cost than RBC in all seven examples, from US$1,000 to US$7,000. Added together, the seven separate examples cost C$750.00 less. Rates change daily, so compare quotes on the day you convert.
What is RBC's CAD to USD exchange rate?
On October 30, 2026, RBC's online converter showed an effective rate of about 1.4256 CAD per USD when buying US dollars, compared with an interbank rate of 1.3971. RBC's rate changes during the day, so check the calculator before you convert.
How much does RBC mark up the exchange rate?
In our test, RBC's rate was about 2.0% above the interbank rate. KnightsbridgeFX's published bank comparison lists RBC at about 2.60%, and the Financial Consumer Agency of Canada reports that bank markups typically fall between about 1% and 4%.
Does RBC charge a fee to exchange currency?
RBC does not show a separate conversion fee for the calculator rates we tested. The cost is in the exchange rate. Wire transfers carry separate fees.
How do I get a better exchange rate than my bank?
Compare your bank's rate to the interbank rate, then request a quote from a currency exchange specialist for the same amount. Compare the final Canadian dollar number, not the advertised fee.
Will KnightsbridgeFX beat my bank's rate?
KnightsbridgeFX says it checks bank rates daily and guarantees to beat your bank's rate. If you have a better quote from another provider for the same pair and amount on the same day, send it to KnightsbridgeFX before you book.
How do I get a quote from KnightsbridgeFX?
Call 1-877-355-5239 (ext. 1), email [email protected], or use the online currency converter.
Is the exchange rate I see on Google the rate I will get?
No. Google shows the mid-market rate. Banks and exchange providers add a markup. The question is how large it is.
Can I convert USD to CAD as well?
Yes, both providers convert in both directions, but this test covers CAD to USD only and does not show USD to CAD pricing. Use the same approach: compare the final Canadian dollar amount you receive at each provider on the same day.
Why was the saving larger on larger amounts?
RBC charged the same rate on every amount, so its extra cost grows with the amount. KnightsbridgeFX quoted 1.3971 on five amounts and 1.4051 on US$1,000 and US$5,000, which is why the US$5,000 saving (C$102.50) was smaller than the US$4,000 saving (C$114.00).
About the researcher
Mike Miller is the researcher for CurrencyExchangeNearMe.com. For each comparison he checks each provider's public website, takes dated screenshots, and requests quotes from providers by phone and email, recording the date, time and amounts.
The bottom line
In our dated test on October 30, 2026, KnightsbridgeFX quoted a lower Canadian dollar cost than RBC in all seven examples. Added together, the seven separate examples cost C$750.00 less. RBC's posted rate was about 2.0% above the interbank rate. For anyone converting more than a few hundred dollars, a five-minute quote comparison is worth the effort.
To compare for yourself, check RBC's calculator and ask KnightsbridgeFX for a quote for the same amount on the same day.
KnightsbridgeFX is not affiliated with Royal Bank of Canada. RBC figures come from RBC's public foreign exchange calculator on October 30, 2026. Rates and fees change throughout the day. Confirm a current quote before transacting. This article is general information, not financial advice.