Transferring £30K to Canada
#1
Forum Regular
Thread Starter
Joined: Sep 2011
Location: Was London, UK now Toronto
Posts: 111
Transferring £30K to Canada
Hi all,
I was hoping somebody would be able to advise me on a money transfer I will be looking to complete soon.
I have an savings account that I am looking to close with my bank in the UK and will be looking to transfer around £30K to my Canadian bank account.
Would it be possible to cash out the ISA I have and write a cheque from my UK bank (Halifax) and deposit in my Scotiabank account?
I presume there will be some charges from Scotiabank in this case.
If there are any other suggestions on how to move the monies over to Canada without too much loss would be much appreciated.
Cheers
I was hoping somebody would be able to advise me on a money transfer I will be looking to complete soon.
I have an savings account that I am looking to close with my bank in the UK and will be looking to transfer around £30K to my Canadian bank account.
Would it be possible to cash out the ISA I have and write a cheque from my UK bank (Halifax) and deposit in my Scotiabank account?
I presume there will be some charges from Scotiabank in this case.
If there are any other suggestions on how to move the monies over to Canada without too much loss would be much appreciated.
Cheers
#2
BE Forum Addict
Joined: Mar 2011
Posts: 1,274
Re: Transferring £30K to Canada
Hi all,
I was hoping somebody would be able to advise me on a money transfer I will be looking to complete soon.
I have an savings account that I am looking to close with my bank in the UK and will be looking to transfer around £30K to my Canadian bank account.
Would it be possible to cash out the ISA I have and write a cheque from my UK bank (Halifax) and deposit in my Scotiabank account?
I presume there will be some charges from Scotiabank in this case.
If there are any other suggestions on how to move the monies over to Canada without too much loss would be much appreciated.
Cheers
I was hoping somebody would be able to advise me on a money transfer I will be looking to complete soon.
I have an savings account that I am looking to close with my bank in the UK and will be looking to transfer around £30K to my Canadian bank account.
Would it be possible to cash out the ISA I have and write a cheque from my UK bank (Halifax) and deposit in my Scotiabank account?
I presume there will be some charges from Scotiabank in this case.
If there are any other suggestions on how to move the monies over to Canada without too much loss would be much appreciated.
Cheers
Once registered you then transfer the GBP30K to TransferWise and they will deposit CDN$ into your Scotia Bank account at the rate and fee you accept at the time you wish to transfer/exchange.
It is all written step by step on their website.
#3
BE Enthusiast
Joined: Dec 2010
Location: Whitby, Ontario
Posts: 732
Re: Transferring £30K to Canada
We’ve used Transferwise a number of times - we usually check the bottomline and they work out the best.
#4
BE Enthusiast
Joined: Dec 2016
Location: St Catharines, Ontario From Bournemouth UK
Posts: 417
Re: Transferring £30K to Canada
<snip>
If you use the link, your first transfer will be FREE for a transfer up to £500
It is very easy to set up as long as you have your UK and Canadian Bank details.
I would transfer a small amount on your first transaction to ensure you have everything configured correctly.
Transferwise costs are 0.45% + 80p for amounts over £3000
£30k will get you $54,768.78 at the current exchange rate $1.83389
If you use the link, your first transfer will be FREE for a transfer up to £500
It is very easy to set up as long as you have your UK and Canadian Bank details.
I would transfer a small amount on your first transaction to ensure you have everything configured correctly.
Transferwise costs are 0.45% + 80p for amounts over £3000
£30k will get you $54,768.78 at the current exchange rate $1.83389
Last edited by christmasoompa; Mar 23rd 2018 at 5:02 pm. Reason: Advertising
#5
Re: Transferring £30K to Canada
Hi all,
I was hoping somebody would be able to advise me on a money transfer I will be looking to complete soon.
I have an savings account that I am looking to close with my bank in the UK and will be looking to transfer around £30K to my Canadian bank account.
Would it be possible to cash out the ISA I have and write a cheque from my UK bank (Halifax) and deposit in my Scotiabank account?
I presume there will be some charges from Scotiabank in this case.
If there are any other suggestions on how to move the monies over to Canada without too much loss would be much appreciated.
Cheers
I was hoping somebody would be able to advise me on a money transfer I will be looking to complete soon.
I have an savings account that I am looking to close with my bank in the UK and will be looking to transfer around £30K to my Canadian bank account.
Would it be possible to cash out the ISA I have and write a cheque from my UK bank (Halifax) and deposit in my Scotiabank account?
I presume there will be some charges from Scotiabank in this case.
If there are any other suggestions on how to move the monies over to Canada without too much loss would be much appreciated.
Cheers
#7
Forum Regular
Joined: Jun 2010
Location: Ajax, Ont
Posts: 277
Re: Transferring £30K to Canada
We had a UK HSBC account and a Canadian HSBC account. We transferred between them. Because of the kind of acccount we had in Canada, we didn't pay fees.
#8
BE Forum Addict
Joined: Mar 2011
Posts: 1,274
Re: Transferring £30K to Canada
The NET amount received is the criteria to work on for comparison.
#10
Slob
Joined: Sep 2009
Location: Ottineau
Posts: 6,342
Re: Transferring £30K to Canada
Hi all,
I was hoping somebody would be able to advise me on a money transfer I will be looking to complete soon.
I have an savings account that I am looking to close with my bank in the UK and will be looking to transfer around £30K to my Canadian bank account.
Would it be possible to cash out the ISA I have and write a cheque from my UK bank (Halifax) and deposit in my Scotiabank account?
I presume there will be some charges from Scotiabank in this case.
If there are any other suggestions on how to move the monies over to Canada without too much loss would be much appreciated.
Cheers
I was hoping somebody would be able to advise me on a money transfer I will be looking to complete soon.
I have an savings account that I am looking to close with my bank in the UK and will be looking to transfer around £30K to my Canadian bank account.
Would it be possible to cash out the ISA I have and write a cheque from my UK bank (Halifax) and deposit in my Scotiabank account?
I presume there will be some charges from Scotiabank in this case.
If there are any other suggestions on how to move the monies over to Canada without too much loss would be much appreciated.
Cheers
I got the Scotia exchange rate, which was OK, and Barclays hit me for £30 in fees. Apart from that it was bloody easy.
A lot depends on how much clout you have with your bank.
#11
BE Enthusiast
Joined: Dec 2016
Location: St Catharines, Ontario From Bournemouth UK
Posts: 417
Re: Transferring £30K to Canada
Try talking to your banking officer at Scotia (my bank). I did transfer like that last month. I simply wrote a Barclays cheque to myself (£10k) and the officer paid it into my account. The transfer did take a while though.
I got the Scotia exchange rate, which was OK, and Barclays hit me for £30 in fees. Apart from that it was bloody easy.
A lot depends on how much clout you have with your bank.
I got the Scotia exchange rate, which was OK, and Barclays hit me for £30 in fees. Apart from that it was bloody easy.
A lot depends on how much clout you have with your bank.
<snip>
£1000 gets you $1,809.64 with Transferwise. This includes the fee of £5.28 which is a lot cheaper than £30 with Barclays
FYI, Llloyds, RBS and Natwest will give you $1741 for the same £1000.
A no brainer !!!!
Last edited by christmasoompa; Mar 23rd 2018 at 5:01 pm. Reason: Sorry, but no affiliate/referral links
#12
Forum Regular
Thread Starter
Joined: Sep 2011
Location: Was London, UK now Toronto
Posts: 111
Re: Transferring £30K to Canada
<snip>
If you use the link, your first transfer will be FREE for a transfer up to £500
It is very easy to set up as long as you have your UK and Canadian Bank details.
I would transfer a small amount on your first transaction to ensure you have everything configured correctly.
Transferwise costs are 0.45% + 80p for amounts over £3000
£30k will get you $54,768.78 at the current exchange rate $1.83389
If you use the link, your first transfer will be FREE for a transfer up to £500
It is very easy to set up as long as you have your UK and Canadian Bank details.
I would transfer a small amount on your first transaction to ensure you have everything configured correctly.
Transferwise costs are 0.45% + 80p for amounts over £3000
£30k will get you $54,768.78 at the current exchange rate $1.83389
Last edited by Mircha; Mar 24th 2018 at 12:42 am.
#14
BE Forum Addict
Joined: Mar 2011
Posts: 1,274
Re: Transferring £30K to Canada
My wife, an avid facebook user, is pissed that Zuckerberg didn't send her a birthday wish...