Frequently Asked Questions

Yes, KrosRemit is fully licensed and regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business (MSB). This is the highest level of financial regulation in Canada, ensuring we meet stringent standards for consumer protection, anti-money laundering (AML), and counter-terrorist financing (CTF) compliance.

We employ bank-grade security measures including end-to-end encryption, multi-factor authentication, and comprehensive fraud detection systems. Your funds are protected through segregated accounts and are insured against loss.

Our fees are transparent, Unlike traditional banks, we don't charge hidden fees for intermediary processing, or account maintenance. You'll see the exact fee upfront before confirming any transaction, with no surprises.

Transfer times vary by destination and payment method:

• Bank transfers: Instant to 2 hours for most corridors
• Mobile money: Instant to 5 minutes

This is dramatically faster than traditional banking, which typically takes 3-8 business days. We provide real-time tracking and instant notifications for all transfers.

MSB stands for Money Services Business. It's a designation given by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) to companies that provide money transfer services, foreign exchange, or other financial services.

Being FINTRAC-licensed as an MSB means KrosRemit must comply with strict regulations including:

• Customer due diligence and identity verification
• Transaction monitoring and reporting
• Anti-money laundering (AML) and counter-terrorist financing (CTF) procedures
• Record keeping and audit requirements
• Consumer protection standards

This licensing ensures the highest level of security and regulatory compliance for our customers.

We serve 150+ countries worldwide with comprehensive coverage across:

• Africa: Nigeria, Kenya, Ghana, South Africa, Uganda, Tanzania, and 19+ more countries
• Asia: India, Philippines, Vietnam, Indonesia, Thailand, Malaysia, and 24+ more countries
• Europe & Americas: Complete coverage including US, UK, EU countries, Canada, and comprehensive banking networks

Our fees are transparent, Unlike traditional banks, we don't have any kind of hidden fees nor do we charge for intermediary processing, account maintenance etc. You'll see the exact fee upfront before confirming any transaction, with no surprises.

We support a wide range of payment methods to ensure your recipients can receive funds in their preferred way:

• Bank transfers: Direct deposits to bank accounts worldwide
• Mobile money: Instant transfers to mobile wallets (M-Pesa, Airtel, etc.)
• Digital wallets: Transfers to PayPal, Venmo, and other services

The available methods depend on the destination country, and we always recommend the fastest, most cost-effective option for each transaction.