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Transferring money to UK

Transferring money to UK

Old Sep 10th 2017, 12:32 pm
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Default 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!
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Old Sep 10th 2017, 1:30 pm
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Default 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.
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Old Sep 10th 2017, 2:52 pm
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Default Re: Transferring money to UK

Another vote for Transferwise. I have moved £100k's plus.
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Old Sep 10th 2017, 2:59 pm
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Default 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
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Old Sep 10th 2017, 3:21 pm
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Default Re: Transferring money to UK

Originally Posted by glendem4
I'm looking to transfer GBP to CAD shortly.....let's set up are own currency exchange and cut the middle man out
That's exactly how Transferwise operates!
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Old Sep 10th 2017, 3:55 pm
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Default 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.
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Old Sep 10th 2017, 7:18 pm
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Default 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?
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Old Sep 10th 2017, 7:43 pm
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Default Re: Transferring money to UK

Originally Posted by Lifebeginsat36
Is a straightforward wire transfer via my bank going to be at a really bad rate then usually?
Unless you get some sort of privilege customer status, very likely.

Transferwise and other sites will show you what arrives at the other end at what total cost so comparisons are quite easy.
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Old Sep 12th 2017, 5:06 pm
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Default 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!
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Old Sep 13th 2017, 9:37 pm
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Default 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.
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