mrsmackenzie

Hi there,
We are moving from Toronto, Canada, to the UK in a couple of months (I'm British/Canadian - hubby is Canadian on a settlement visa which we're still waiting for).
Wondering if anyone can advise re: best way to handle our bank account? We have savings in our Canadian account that we want to transfer to a UK account. What's the best way to do it to avoid exchange fees etc?
I know in the past even when I've paid small a GBP cheque into my Canadian account the bank takes a considerable 'fee', which scares me
Any help would be appreciated.
Thanks!
SM.

Editha

Do you already have a UK bank account?

mrsmackenzie

Hi Editha, no I don't. I closed it a few years ago unfortunately.

lf1

I opened a Cdn and GBP account, in Canada, with HSBC and it has worked well for me re transferring money to the UK.

pondhopper2014

Is there someone... ANYONE else to do banking with as Canadians going into the UK? We loathe HSBC, almost as much as Ma Bell... No, more. Are there other options? Hunny heading over in just over two weeks.
Blessings!

Wombat7

Sorry, not the answer you wanted, we are doing the same and went with HSBC. We went to the branch at Mel Lasman Square, made an appointment beforehand. Spent about one hour there and walked away with Cdn$, US$ and UK£ accounts here. HSBC credit cards for here and trading account so we can transfer stocks over if we wish.

two days later we got a call from their international desk in Vancouver, spent about 40 mins with them. A week later call from London for about half an hour to set up UK account and UK credit card.

took documentation for funds, including the signed purchase sale agreement for the house, up to the North York office. They photocopied and sent off to London (this is because of AML legislation).. About two weeks later, in the mail, we got cheque book, UK Credit card an UK security auto number generator for on line , banking.

Was amazed how easy and efficient the whole thing was. The person we first met at HSBC, knew what he was doing and followed up with emails to make sure things were on track.

As those meerkats say "simples"

Claireychick

We are both British citizens and looks like we are heading home after 10 years in Ontario, we too will need a UK bank account, I have no desire to bank with HSBC, dreadful experience with them when we moved here, any other banks recommended. It is a corporate move , but will need UK credit card to avoid charges from Canadian provider.