Easiest/Cheapest way to Transfer funds between UK & Canada
Dec 16th 2011, 2:34 am
#16
Just Joined
Thread Starter
Joined: Nov 2011
Location: Vancouver, Canada
Posts: 27
Re: Easiest/Cheapest way to Transfer funds between UK & Canada
I use PayPal.
Honestly I don't really know if that is the most efficient way to transfer money from the UK but I started using it when I was desperate to transfer money from my bank accounts in UK to Canada and because of the convenience I have stuck with it.
I have a PayPal account registered in the UK and linked to my UK bank account. I registered another PayPal account here in Canada and linked that to my Canada bank account.
When I need money from the UK I simply send myself funds using my UK PayPal account to my Canada PayPal account.
Using my UK PayPal account for the transfer is an instant transfer from my UK bank account to my Canada PayPal account.
I then log out of my UK PayPal account and then log in to my Canada PayPal account and transfer the money from the PayPal account into my Canada bank account.
The first time I transferred money from my PayPal account into my Canada bank account it took about 4 days for the cash to clear but now it takes about 2 to 3 days.
I have not checked it but I don't think the difference in costs compared to other forms of money transfer is that much, plus I get the convenience of doing everything at my desk.
Honestly I don't really know if that is the most efficient way to transfer money from the UK but I started using it when I was desperate to transfer money from my bank accounts in UK to Canada and because of the convenience I have stuck with it.
I have a PayPal account registered in the UK and linked to my UK bank account. I registered another PayPal account here in Canada and linked that to my Canada bank account.
When I need money from the UK I simply send myself funds using my UK PayPal account to my Canada PayPal account.
Using my UK PayPal account for the transfer is an instant transfer from my UK bank account to my Canada PayPal account.
I then log out of my UK PayPal account and then log in to my Canada PayPal account and transfer the money from the PayPal account into my Canada bank account.
The first time I transferred money from my PayPal account into my Canada bank account it took about 4 days for the cash to clear but now it takes about 2 to 3 days.
I have not checked it but I don't think the difference in costs compared to other forms of money transfer is that much, plus I get the convenience of doing everything at my desk.
Dec 16th 2011, 4:40 am
#17
Island life at last
Joined: Aug 2009
Location: BC
Posts: 2,715
Re: Easiest/Cheapest way to Transfer funds between UK & Canada
We have found TorFX good - they are fast, efficient and easy to deal with.
We have moved money from Canada to the UK and UK to Canada this way.
Now we are getting close to moving our house proceeds to Canada from UK and we will use them again for this large transaction.
Tony Redondo is our contact there and he is great to deal with.
I recommend giving them a call and finding out what they can do for you.
We have moved money from Canada to the UK and UK to Canada this way.
Now we are getting close to moving our house proceeds to Canada from UK and we will use them again for this large transaction.
Tony Redondo is our contact there and he is great to deal with.
I recommend giving them a call and finding out what they can do for you.
Dec 22nd 2011, 9:57 am
#18
Just Joined
Joined: Oct 2011
Posts: 11
Re: Easiest/Cheapest way to Transfer funds between UK & Canada
Hi YVRTOLHR,
I'm also looking at the safest, quickest (and not expensive) way to transfer money from the UK to Canada, and have come across a relatively new service being offered by Travelex.
The general gist is that for 99p you can send up to £2500 (or local currency equivalent) using your UK debit card to any account elsewhere in the world. I've used Travelex for currency on numerous occasions and have found their service to be very good.
From what I can tell there are no restrictions on number of transactions might be worth a look: http://www.travelex.co.uk/uk/send-money-now.aspx
I'm also looking at the safest, quickest (and not expensive) way to transfer money from the UK to Canada, and have come across a relatively new service being offered by Travelex.
The general gist is that for 99p you can send up to £2500 (or local currency equivalent) using your UK debit card to any account elsewhere in the world. I've used Travelex for currency on numerous occasions and have found their service to be very good.
From what I can tell there are no restrictions on number of transactions might be worth a look: http://www.travelex.co.uk/uk/send-money-now.aspx
