kevinm

Hello, When we go over to Canada im planning at the moment staying for 1 year (long story)
As I will be getting paid in the UK I will need to transfer the money every month.
Can any recommend the best people to use.

Former Lancastrian

Is your bank affiliated to any Canadian ones? It should be fairly easy to set up a transfer from one to another once you have the account numbers.
TD, BMO, RBC, CIBC, HSBC, Scotia Bank are the bigger ones over here

ANye

I suggest you shop around for currency transfer quotes in the UK and make sure that you get the best exchange rate from an FCA (formerly FSA) authorised foreign exchange provider. Typically, a foreign exchange broker's rate can be up to 4% better than the banks or Post Office and you usually avoid any commission charges.

Aviator

You will never avoid commission charges, they are either built into the rate you get or are charged separately, but no FX agent works for free.

Transferring small amounts, too small for an FX house, best to just write yourself a cheque on your UK account and deposit it in your CDN account.

exenglishman

Ive used 2 methods. For larger transfers ($$$$) HSBC to any Canadian bank (providing you can get your account number and BIC). Small fee involved, takes about 2-4 business days to transfer.

For small amounts ($$$) Use Paypal, one uk account to one canadian account (both with different emails for it to work) and you can gift up to a certain amount for Free and then withdraw it at your bank, takes a bit longer (up to 5 - 7 days in total)

Siouxie

Bring your UK card with you and withdraw money here as you need it from your UK account. Depending on which bank you are with, they may charge you a fee though.

Alternative is to set up a standing order with your UK account to pay directly into your Canadian bank account, it's easy to do.