Transferring money to UK
#1
Forum Regular
Thread Starter
Joined: Apr 2016
Posts: 47
Transferring money to UK
Hi, I want to wire some CAD to the UK (between £15-25k). Can you advise the way to get the best rate? Is a straightforward wire transfer ok or is there a way to get a better rate to get the most GBP for CAD? Thanks in advance!
#2
BE Enthusiast
Joined: Dec 2010
Location: Whitby, Ontario
Posts: 729
Re: Transferring money to UK
Look at Transferwise - we've been using them for the last couple of years, and found them easy to use and better rate usually.
#4
BE Enthusiast
Joined: Dec 2016
Location: St Catharines, Ontario From Bournemouth UK
Posts: 417
Re: Transferring money to UK
I'm looking to transfer GBP to CAD shortly.....let's set up are own currency exchange and cut the middle man out
#6
BE Enthusiast
Joined: Sep 2016
Location: Calgary, AB
Posts: 327
Re: Transferring money to UK
We use transferwise too and have done for months now with no issues. We only transfer small amounts. We generally transfer around $1000 a month and the transfer costs us about £5 a time. Can't complain at all.
#7
Forum Regular
Thread Starter
Joined: Apr 2016
Posts: 47
Re: Transferring money to UK
Thanks everyone. I'll look into Transferwise.
Is a straightforward wire transfer via my bank going to be at a really bad rate then usually?
Is a straightforward wire transfer via my bank going to be at a really bad rate then usually?
#8
Re: Transferring money to UK
Transferwise and other sites will show you what arrives at the other end at what total cost so comparisons are quite easy.
#9
Forum Regular
Joined: Sep 2015
Posts: 172
Re: Transferring money to UK
depends what you are comfortable with!
i found out about transferwise here at time when i was looking for a better way to transfer money and though a litttle hesitant, gave it go on my RECCE that i have just returned from
rates are great!
when i was on my RECCE, I transferred £ to CAD$.
the process is easy and straightforward and definitely CHEAPER than wire transfer
with wire transfer you would be charged by the outgoing bank as well as the receiving back of the funds!
i transferred small amounts too
i have just transferred a small amount yesterday to a new Canadian bank account that i set up whilst on RECCE just to test that the new account is receiving it ok before i transfer large amounts
give it a go!
i found out about transferwise here at time when i was looking for a better way to transfer money and though a litttle hesitant, gave it go on my RECCE that i have just returned from
rates are great!
when i was on my RECCE, I transferred £ to CAD$.
the process is easy and straightforward and definitely CHEAPER than wire transfer
with wire transfer you would be charged by the outgoing bank as well as the receiving back of the funds!
i transferred small amounts too
i have just transferred a small amount yesterday to a new Canadian bank account that i set up whilst on RECCE just to test that the new account is receiving it ok before i transfer large amounts
give it a go!
#10
Forum Regular
Joined: Feb 2017
Posts: 52
Re: Transferring money to UK
This is more relevant for GBP to CAD in smaller quantities but the best rate I've found so far comes from a British startup called Monzo. I think they're basically the same as WeSwap and all the like with a prepaid Mastercard but they offer the straight Mastercard exchange rate, which is one of the best rates you can get, with (currently) no fees. Downside is you're limited to converting £250/day, so it's more useful for recees, tourism etc.