Re: electronic money transfer
 

23rd june to sunny ottawa,then i come back on the 2ndjuly to tie up all the financial ends and then i come back on the 30th july........so everything is going swimmingly well....just looking thro emails from my friend and she said that if i use a draft it takes 25 days to clear,but she would put it in a guaranteed investment fund.so it would be working for me,i ahve an appointment at RBC on 25th june so i will be able to go through all options there.
paul

PS i hate the smell of cardboard packing boxes....yuk!!!

Re: electronic money transfer
 

Paul

I bought about £100K of CAD on Friday. I am ttransferringthe funds to HiFX as we speak. The normal way which takes 3-4 working days, but with no cost. I am faxing my Onward Payment Instructions to them today.

On recept of my instructions and the funds I expect my bank account in Ottawa to have the money early next week. It would have been sooner had I not delayed sending the funds to HiFX for 4 days.

Cheers

Russell...

Re: electronic money transfer
 

cheers russell:thumbsup:

Re: electronic money transfer
 

I used HIFX for the first time for a house purchase the other week.

I've been quoted better rates for transfers in previous years by HSBC for a ten quid draft, but from here it was impossible to get anyone in the "UK" call centre who understood my enquiry and could deal with it efficiently. I'd always gone into the branch in person to sort it before, so I gave up and went with Hifx who could do by email/scanned docs, and a fax from my solicitor.

It took about 5 days in total from saying "buy" to the funds hitting my Canadian account. No complaints at all about Hifx, although I would have preferred to be able to check my bank's rate given my previous experiences.

Re: electronic money transfer
 

Yes I have transferred from LloydsTSB to RBC it was no problem, as long as you have the IBAN and BIC references. It cost about 25pounds. Took 5 days. Ask both banks what reference numbers you need to put on the transfer.

Another easy way if soemone is in Canada to pay it in - We also sent a LloydsTSB cheque over by mail and paid it into our RBC account. They used rate of exchange on the day we paid it in.

Louise

Re: electronic money transfer
 

thanks a lot louise...thats the info i was looking for:thumbsup:
i take it, it wasnt a bad experience
Paul:thumbsup:

Re: electronic money transfer
 

It was no different from paying any other bills. Easy...
The only thing that made it a pain, was having to go into the bank to fill out the form. I prefer internet banking but a transfer has to be initiated in the branch.
Best Wishes Louise

Re: electronic money transfer
 

Which ever bank/company you use to transfer your money should should shop around and get them to quote over the phone that days exchange rate as website quotes are often not quite up-to-date.

You don't need to be exchanging your money that day, it's just to give you examples of the different rates offered and you may be surprised. If you are exchanging large sums of money eg equity, the difference may mean $100s if not $1000s more in your pocket.

Companies like HIFX will hold the rate for a certain amount of days for you.