Which is the best way to send money bock to the UK the bank charges around 30 CAD and the a charge from the UK bank.
I heard that you could do it through paypay is this right or not and if so how much is it

Thanks
Fireox

There are loads of posts on the BE boards about international money transfers and many of us use xe.com (you can do a search for xe.com or xetrade.com):

http://www.xe.com/fx

You do have to set it up approx a week before initially transferring money overseas as they have to do checks to ensure you're not an international money launderer! However they do offer good rates and it's cheaper than bank transfers in almost all cases.

We have personally used xe.com to transfer money to/from the UK from the USA, Singapore and Switzerland. We've never had a problem. It's a good idea to send a small amount for the first time to see how comfortable you feel, then you can send in larger amounts later if necessary.

I used www.xoom.com to send money back to my son and he got it within the hour. I think it was a charge of $4.99

Or you could look at using a currency exchange transfer company. For instance Moneycorp are forum sponsors so you can always post in their forum which is on BE and I'm sure they would be happy to answer any questions you may have.

I use Xoom.com as well, and even to places like China, they also send an email to the recipient letting them know the money's there in the bank. Been using them for several years now. Only thing is there's a limit on what they let you send in any one month without a discussion with them and why so much... Thank you Mr. Bush for that one.

Here's a relevant thread from the US forum, on XE.com:

http://britishexpats.com/forum/showthread.php?t=735949

hi yes you can use paypal

just use the personal option so you do not pay the usual percentage in commission they take

Convenient but costly if transferring a large sum (via the high spread on the interbank rate). For small spreads, use a dedicated FX transfer company, such as Oanda. You'll save hundreds if transferring on the order of thousands.

If you are sending a large sum currency fluctuations will be your biggest risk factor.

If you work with a currency broker they will offer you your own dealer. They will be your eyes and ears in the market and can watch the rate for you.

http://exchangerates.britishexpats.com/

Not really, if you are using a currency transfer company, think about what may happen if that company goes bankrupt while your money is in transit, like with Crown Currency recently. Currency transfer companies are not banks and your money is not protected by an government deposit protection scheme.

Do they banks charge you to send the money to something like Xe.com?

You send money in the currency you want to transfer, so there's no foreign exchange involved. You may face wire transfer fees (a few 10s of dollars max) depending on your bank and any intermediate banks. You can check with them. Also, a broker can only help so much. Experts frequently contradict each other when it comes to currency moves. IMHO, the best you can do is to use a dedicated FX company and make the transfer when the large markets are open and volumes are high (e.g. UK and USA for USD:GBP), which reduces spread. You can be aware of major event risks in terms of volatility, but you don't need a broker for that.

Everything is negotable, I used the HSBC (from Canada to UK) and transferred on line myself after exchanging the money in Canada from C$ to GBP. It is worth noting that because of the amount I was transferring, I managed to negotiate a better rate than what the currency transfer companies were offering and my money was protected.