ShirleyEB

Hi
We were in Canada last week to get a rental property sorted. The landlady wants me to send the security deposit to her email. I'm not familiar with this- or how it works. So, aside from googling this, I was going to visit my bank, but perusing info on the web suggests banks would give a poorer exchange rate. Has anyone done this before that can give me some pointers.

Asides from the security deposit, I will have a few other big bills, Around $5k plus living expenses for first month until I get a Canadian pay check, so will have to transfer GBP savings to cover these initial expenses. If there's an easier way than carrying a big wad of notes with me when we arrive in 2 weeks, I'd like to learn about it!

Twitcher1958

E-transfers seem a good idea - I've used them to pay friends back. You do them through your bank account and basically all you need is the email of the recipient - they get a link which allows them to put the money into whichever account they choose. I think they cost $1.50 each. But I think you need a Canadian bank account to do them - not sure you have one yet from your message?

ShirleyEB

Thanks twitcher- but you're right I've no CAnadian bank account yet

BristolUK

There are a variety of different transfer systems but they need receiving accounts.

I use TransferWise which is a good % rate for smaller sums but alternatives may be cheaper for bigger payments where a fixed fee becomes more favourable.

You'd need the landlady's details if she was willing.

For your other bills your UK credit card will still be fine in most cases.

You can also make cash withdrawals from bank machines to save taking a lot of cash but there are fees at both ends for that and it's an expensive, but convenient method.

Pulaski

I have received money by e-mail, but I am not sure how/if it would work internationally. You need to bank with a bank that allows you to send money by e-mail, and there may be a fairly low cap on the amount you can send.

ShirleyEB

Thanks BristolUK & Pulaski, I was looking at transferwise earlier, and they do the email bit for the recipient, who then enters their bank details. I'm also going to take some cash, just to keep me going for a few days, until I get the Canadian bank account set up.
I will also look into transfer systems for my shipping bill is $3,300, to get the best I can from the old pound!
Because the GBP isn't so great, I'm going to try and minimise some other expenses until I've my first paycheck. The hubby will just have to do without a TV for a couple of months!

BristolUK

Good heavens, so they do That's pretty easy to get around

Everyone has their preferences, some free, some for about £4 a month, others with various gadgets.