Exchange Rate
#31
Banned
Joined: Sep 2014
Posts: 233
Re: Exchange Rate
Another issue I’m having is getting my funds out from CAD to GBP. You can’t transfer more that 7500 CAD from BMO using exchange tools (XE, transfer wise etc ..). Anyone had any success writing themselves a cheque from their CAD to GBP account ? What other options are there if your not in TO?
#32
Joined: Sep 2008
Posts: 12,830
Re: Exchange Rate
Another issue I’m having is getting my funds out from CAD to GBP. You can’t transfer more that 7500 CAD from BMO using exchange tools (XE, transfer wise etc ..). Anyone had any success writing themselves a cheque from their CAD to GBP account ? What other options are there if your not in TO?
#33
BE Forum Addict
Joined: Mar 2011
Posts: 1,274
Re: Exchange Rate
Another issue I’m having is getting my funds out from CAD to GBP. You can’t transfer more that 7500 CAD from BMO using exchange tools (XE, transfer wise etc ..). Anyone had any success writing themselves a cheque from their CAD to GBP account ? What other options are there if your not in TO?
I just did a dummy test to send CDN$20,000 from my HSBC in Vancouver to any recipient in UK and TransferWise states they would receive GBP11,715.69p by tomorrow night.
BTW....I'm currently doing this dummy transaction in Jakarta, Indonesia.
#34
Banned
Joined: Sep 2014
Posts: 233
Re: Exchange Rate
No such joy with BMO. I’m not in TO either so can’t wire out
#36
Banned
Joined: Sep 2014
Posts: 233
Re: Exchange Rate
i'm in UK. BMO States you in need to be in country to Send wires. How to get your funds from your account to broker? Bill pay? EFT?
#37
BE Forum Addict
Joined: Mar 2011
Posts: 1,274
Re: Exchange Rate
With HSBC Canada it's a straight on-line transfer of funds to TransferWise who then do an on-line exchange/transfer to any UK account.
The action only takes a few minutes. The actual transfer could take a couple of work-days.
Like I said previously...I do it even I'm on holiday in Indonesia.
#38
Banned
Joined: Sep 2014
Posts: 233
Re: Exchange Rate
BMO has on-line banking.....https://www1.bmo.com/onlinebanking/c...main?product=5
With HSBC Canada it's a straight on-line transfer of funds to TransferWise who then do an on-line exchange/transfer to any UK account.
The action only takes a few minutes. The actual transfer could take a couple of work-days.
Like I said previously...I do it even I'm on holiday in Indonesia.
With HSBC Canada it's a straight on-line transfer of funds to TransferWise who then do an on-line exchange/transfer to any UK account.
The action only takes a few minutes. The actual transfer could take a couple of work-days.
Like I said previously...I do it even I'm on holiday in Indonesia.
Anyone ever tried writing themselves a cheque from their CAD to GBP account ? That can work if cash isn’t urgent right ?
#39
Re: Exchange Rate
$2.05 is the 25 year average for £1.
Why anyone moves from the UK to Canada with this exchange rate is beyond me.
Why anyone moves from the UK to Canada with this exchange rate is beyond me.
#40
BE Forum Addict
Joined: Feb 2014
Location: Done with condescending old hags
Posts: 1,194
Re: Exchange Rate
Over the past ten years, GBP/CAD has spent more time below 1.60 than it has above 1.90, and general consensus seems to be that Britain's fortunes are worse before they're better, so unless Canada enters a depression, anything above 1.70 is likely a ways off.
As a general rule, not many people have the luxury of waiting 5-15 years to see if they get an exchange rate they like.
#41
Slob
Joined: Sep 2009
Location: Ottineau
Posts: 6,342
Re: Exchange Rate
? Yes I know online banking . Can’t do larger that 7500$ with BMO. Even on the phone. I can’t send a wire unless I’m in country. I’m not in canada to open a HSBC account.
Anyone ever tried writing themselves a cheque from their CAD to GBP account ? That can work if cash isn’t urgent right ?
Anyone ever tried writing themselves a cheque from their CAD to GBP account ? That can work if cash isn’t urgent right ?
#42
BE Enthusiast
Joined: Dec 2010
Location: Whitby, Ontario
Posts: 732
Re: Exchange Rate
Like some of the others, we find the easiest and best route to be Transferwise.
#43
Re: Exchange Rate
Interesting. I have never tried to move money from my Canadian account to my UK account via transferwise, I have always done it the other way around.
Of course in the UK, there is a 'faster payments' limit of £10k per transaction, but this is easily worked around by doing multiple transfers over a few minutes each of £10k etc. Transferwise works fine with that.
Of course in the UK, there is a 'faster payments' limit of £10k per transaction, but this is easily worked around by doing multiple transfers over a few minutes each of £10k etc. Transferwise works fine with that.
#44
Re: Exchange Rate
Anybody used https://www.ofx.com/en-ca/?
They've offered me a very competitive spread rate to transfer funds from Canada to UK, and have been particularly efficient and courteous setting up an account so far, but wondered if there's any personal experience of them?
They've offered me a very competitive spread rate to transfer funds from Canada to UK, and have been particularly efficient and courteous setting up an account so far, but wondered if there's any personal experience of them?
#45
BE Enthusiast
Thread Starter
Joined: Dec 2016
Location: St Catharines, Ontario From Bournemouth UK
Posts: 417
Re: Exchange Rate
Anybody used https://www.ofx.com/en-ca/?
They've offered me a very competitive spread rate to transfer funds from Canada to UK, and have been particularly efficient and courteous setting up an account so far, but wondered if there's any personal experience of them?
They've offered me a very competitive spread rate to transfer funds from Canada to UK, and have been particularly efficient and courteous setting up an account so far, but wondered if there's any personal experience of them?
OFX Lowest exchange rate fee was quoted at 0.4% compared to Transferwise at 0.47% on sums over £3000.
I will set up an account with OFX and compare service with Transferwise and give feedback.