Go Back  British Expats > Living & Moving Abroad > Canada
Reload this Page >

depositing CAD cheques into UK bank/building society accounts

depositing CAD cheques into UK bank/building society accounts

Old Feb 14th 2018, 3:53 pm
  #1  
Happy
Thread Starter
 
Howefamily's Avatar
 
Joined: Feb 2009
Location: Nova Scotia
Posts: 2,942
Howefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond repute
Default depositing CAD cheques into UK bank/building society accounts

Hi all, I need to send some money to the UK to someone without paypal who is not an online type of person in any way. Does anyone know if there is an issue banking a Canadian cheque into a UK bank or buiding society account? (I am not sure what type of account it is yet)


Thanks
Howefamily is offline  
Old Feb 14th 2018, 4:03 pm
  #2  
Born again atheist
 
Novocastrian's Avatar
 
Joined: Jul 2005
Location: Europe (to be specified).
Posts: 30,259
Novocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

Originally Posted by Howefamily
Hi all, I need to send some money to the UK to someone without paypal who is not an online type of person in any way. Does anyone know if there is an issue banking a Canadian cheque into a UK bank or buiding society account? (I am not sure what type of account it is yet)


Thanks
There's no problem in doing that but the UK bank will deduct a fee (about £10).

YMMV
Novocastrian is offline  
Old Feb 14th 2018, 4:21 pm
  #3  
 
Pulaski's Avatar
 
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,397
Pulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

Originally Posted by Novocastrian
There's no problem in doing that but the UK bank will deduct a fee (about £10).

YMMV
I think £10 is on the low side, it could be twice as much, or more. And they will screw the recipient on the exchange rate, .... and it may take several weeks for it to clear!

You should be able to go to your bank in Canada (perhaps through their Web site???) and ask them for a "foreign currency draft" or "foreign currency bankers draft", or maybe even a "foreign currency cashiers cheque", denominated in pound sterling.

What you will get is a bank cheque drawn in £, on your bank's account with their bank in the UK, which will clear as a domestic cheque in the UK, and there'll be no exchange rate to deal with, no fee to pay, and no delay. .... Your bank in Canada, will however screw you with their fee, and the exchange rate!

Or you could find a friend or relative and do what we do - have someone in the UK pay them the money, then you send C$ to their account in Canada, or give them the cash to spend when they visit. ..... Then you get to screw the banks out of their fees and unreasonable exchange rates!

My mother sends pocket money to my daughter by depositing £££ into my account in the UK, then I give my daughter the $$$ "from grandma". Then I use the £££ to fund my additional NI contributions.

Last edited by Pulaski; Feb 14th 2018 at 4:31 pm.
Pulaski is offline  
Old Feb 14th 2018, 4:21 pm
  #4  
BE Enthusiast
 
Joined: Dec 2016
Location: St Catharines, Ontario From Bournemouth UK
Posts: 417
glendem4 has a reputation beyond reputeglendem4 has a reputation beyond reputeglendem4 has a reputation beyond reputeglendem4 has a reputation beyond reputeglendem4 has a reputation beyond reputeglendem4 has a reputation beyond reputeglendem4 has a reputation beyond reputeglendem4 has a reputation beyond reputeglendem4 has a reputation beyond reputeglendem4 has a reputation beyond reputeglendem4 has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

A bid wad of cash in an envelope normally works
glendem4 is offline  
Old Feb 14th 2018, 4:30 pm
  #5  
Happy
Thread Starter
 
Howefamily's Avatar
 
Joined: Feb 2009
Location: Nova Scotia
Posts: 2,942
Howefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

Originally Posted by Pulaski
I think £10 is on the low side, it could be twice as much, or more. And they will screw the recipient on the exchange rate, .... and it may take several weeks for it to clear!

You should be able to go to your bank in Canada (perhaps through their Web site???) and ask them for a "foreign currency draft" or "foreign currency bankers draft", or maybe even a "foreign currency cashiers cheque", denominated in pound sterling.

What you will get is a bank cheque drawn in £, on your bank's account with their bank in the UK, which will clear as a domestic cheque in the UK, and there'll be no exchange rate to deal with, no fee to pay, and no delay. .... Your bank in Canada, will however screw you with their fee, and the exchange rate!

Or you could find a friend or relative and do what we do - have someone in the UK pay them the money, then you send C$ to their account in Canada, or give them the cash to spend when they visit. ..... Then you get to screw the banks out of their fees and unreasonable exchange rates!

My mother sends pocket money to my daughter by depositing £££ into my account in the UK, then I give my daughter the $$$ "from grandma".
Wow, why is it that when we deposit UK cheques into our RBC account that we just get a reasonably ok fx rate then?
Howefamily is offline  
Old Feb 14th 2018, 4:33 pm
  #6  
Born again atheist
 
Novocastrian's Avatar
 
Joined: Jul 2005
Location: Europe (to be specified).
Posts: 30,259
Novocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond reputeNovocastrian has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

Originally Posted by Howefamily
Wow, why is it that when we deposit UK cheques into our RBC account that we just get a reasonably ok fx rate then?
As I do when depositing $Cdn cheques into our HSBC-GB account.

And a £10 transaction fee. Clearance is usually 4 days.
Novocastrian is offline  
Old Feb 14th 2018, 4:33 pm
  #7  
Oscar nominated
 
BristolUK's Avatar
 
Joined: Jan 2008
Location: Moncton, NB, CANADA
Posts: 50,536
BristolUK has a reputation beyond reputeBristolUK has a reputation beyond reputeBristolUK has a reputation beyond reputeBristolUK has a reputation beyond reputeBristolUK has a reputation beyond reputeBristolUK has a reputation beyond reputeBristolUK has a reputation beyond reputeBristolUK has a reputation beyond reputeBristolUK has a reputation beyond reputeBristolUK has a reputation beyond reputeBristolUK has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

Originally Posted by Howefamily
Wow, why is it that when we deposit UK cheques into our RBC account that we just get a reasonably ok fx rate then?
It's because it's NS where people are nice
BristolUK is offline  
Old Feb 14th 2018, 4:35 pm
  #8  
 
Pulaski's Avatar
 
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,397
Pulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

Originally Posted by Howefamily
Wow, why is it that when we deposit UK cheques into our RBC account that we just get a reasonably ok fx rate then?
From what I have heard of Canadian banks, consistent with my experience some years ago, they get their pound of flesh from you one way or another!

But, joking aside, if you're getting half-decent exchange rates and reasonable fees in Canada then I would definitely recommend buying a £££ draft from your Canadian bank and sending that.
Originally Posted by Novocastrian
As I do when depositing $Cdn cheques into our HSBC-GB account.

And a £10 transaction fee. Clearance is usually 4 days.
Of course it also depends what you think is "reasonably OK".

Last edited by Pulaski; Feb 14th 2018 at 4:40 pm.
Pulaski is offline  
Old Feb 14th 2018, 5:00 pm
  #9  
Forum Regular
 
Joined: Jan 2009
Location: Picton, ON
Posts: 194
Collie has a reputation beyond reputeCollie has a reputation beyond reputeCollie has a reputation beyond reputeCollie has a reputation beyond reputeCollie has a reputation beyond reputeCollie has a reputation beyond reputeCollie has a reputation beyond reputeCollie has a reputation beyond reputeCollie has a reputation beyond reputeCollie has a reputation beyond reputeCollie has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

If you have a UK bank account, why not transfer some $$ to that using Currencyfair of something similar to give you a good deal on the conversion rate. Then just make an electronic bill payment in sterling into the other person's account?
Collie is offline  
Old Feb 14th 2018, 5:24 pm
  #10  
Tea Drinker
 
Danny B's Avatar
 
Joined: Nov 2006
Location: Kamloops, BC
Posts: 5,387
Danny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond reputeDanny B has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

We send money to the Philippines via https://www.westernunion.com/ca/en/home.html each month. It costs us about $10.

You can send up to $999.99 via the link above and for amounts of $1k + you need to go here Online FX | Western Union

Nigerian Princes swear by it.
Danny B is offline  
Old Feb 14th 2018, 5:25 pm
  #11  
Happy
Thread Starter
 
Howefamily's Avatar
 
Joined: Feb 2009
Location: Nova Scotia
Posts: 2,942
Howefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

Originally Posted by Collie
If you have a UK bank account, why not transfer some $$ to that using Currencyfair of something similar to give you a good deal on the conversion rate. Then just make an electronic bill payment in sterling into the other person's account?
that might work too, thanks
Howefamily is offline  
Old Feb 14th 2018, 5:26 pm
  #12  
Happy
Thread Starter
 
Howefamily's Avatar
 
Joined: Feb 2009
Location: Nova Scotia
Posts: 2,942
Howefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond reputeHowefamily has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

Originally Posted by BristolUK
It's because it's NS where people are nice
Howefamily is offline  
Old Feb 14th 2018, 10:02 pm
  #13  
Forum Regular
 
Joined: Nov 2016
Location: Rural BC
Posts: 256
Benson55 is an unknown quantity at this point
Default Re: depositing CAD cheques into UK bank/building society accounts

I have been sending HMRC Sterling cheques for pension voluntary contributions and buying a sterling cheque at a Credit Union costs $7.50 BUT they do whack ya on the exchange rate by around 5%..
Benson55 is offline  
Old Feb 14th 2018, 10:54 pm
  #14  
BE Forum Addict
 
Joined: Mar 2011
Posts: 1,274
Davita has a reputation beyond reputeDavita has a reputation beyond reputeDavita has a reputation beyond reputeDavita has a reputation beyond reputeDavita has a reputation beyond reputeDavita has a reputation beyond reputeDavita has a reputation beyond reputeDavita has a reputation beyond reputeDavita has a reputation beyond reputeDavita has a reputation beyond reputeDavita has a reputation beyond repute
Default Re: depositing CAD cheques into UK bank/building society accounts

Originally Posted by Howefamily
Hi all, I need to send some money to the UK to someone without paypal who is not an online type of person in any way. Does anyone know if there is an issue banking a Canadian cheque into a UK bank or buiding society account? (I am not sure what type of account it is yet)

Thanks
I suggest TransferWise.
You send CDN to them and they deposit GBP in the UK account.
You input the details, check the transaction and transfer them the money...as soon as they receive they transfer GBP to the designated account.

I.E. just done a dummy run this moment to send CDN500......

Deposit CDN$500 - fee CDN$4.21 X rate 0.57159 = net amount GBP283.39 to receive on Monday. (it takes longer over weekends and holidays)

ps On Tuesday I sent GBP5,000 from my bank in UK to my bank in Indonesia and received the Rupiah today.

Last edited by Davita; Feb 14th 2018 at 10:57 pm.
Davita is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.