FOREX - any suggestions
 

Hi,

I'm looking to see the best way to transfer the proceeds from my house sale to Canada - I've had a search on the forums but managed not to find anything.

Any suggestions, pit falls etc would be welcome.

Thanks
C2006(8)

Re: FOREX - any suggestions
 

Have a look at Custom House.

http://www.customhouse.com/

Re: FOREX - any suggestions
 

Hi there,
I've been using HIFX for the last year - house proceeds, regular transfer for mortgage, one off transfers etc. Always got good rates and very prompt transfers. Would highly recommend them.
Mr A:thumbsup:

Re: FOREX - any suggestions
 

I've been using UKFOREX (www.ukforex.co.uk) recently to transfer funds back from Australia to the UK. I can highly recommend them - very quick transfers and strong exchange rates.

You have to jump through a few hoops in order to register (security requirements) but once all that is done everything is relatively straightforward.

Re: FOREX - any suggestions
 

Using an FX house, such as Custom House, deposit the funds into your bank account in the UK if you have one. Fill in a direct debit authority for the Fx house. When the rate is good enough for you, book a rate with them and they will do the rest, depositing the converted funds into your Canadian $ account.

An alternative is to get a cheque drawn on a UK bank and deposit that into your Canadian bank.

Re: FOREX - any suggestions
 

We've used Halo Financial several times and found them friendly and professional at all times.
http://www.halofinancial.com/
Eamonn & Janet

Re: FOREX - any suggestions
 

Hi,

What I have done is open both chequing and savings accounts at HSBC in Vancouver from a UK HSBC branch. Having got the CAD $ accounts, I was then able to setup a GBP £ account at the Vancouver HSBC branch via my account manager in Vancouver. All of the accounts are manageable via Internet banking and transferring money between them instantaneously

So I have simply international wire transferred GBP £ funds between the two sterling accounts for £10 wire charge.

If the amount money you want to FX into CAD $ is large enough (I think the minimum is £10K) then they will let you book special rates direct their treasury team and place limit orders to execute buy/sell at >= specific rates. The spread between bid and offer is small and it means you can get very close to market traded rate. (If its less than 10K you take normal bank rate)

I used:

http://free.charts.xe.com/misc/xe.asp

To get free real-time FOREX data (nice graphs with lots of options).

It also meant when I wanted to pay for my accommodation I was able to have a CAD $ bankers draft couriered to my letting agents bank an hour after they informed me I had secured the apartment subject to payment. At the start of that hour the funds were still in sterling sat on deposit in Vancouver.

I am feeling rather pleased with myself and am finding it very convenient and can move tactically and quickly on any FX rates.

Kind Regards

Ben

Re: FOREX - any suggestions
 

How on earth did you manage not to find anything? This has been addressed a quadzillion times in the last month alone.

Re: FOREX - any suggestions
 

Probably 'cos the search function was up the shute yesterday. I was looking for stuff that I knew was there as I had read it before but the searches just weren't finding them.

To test it I searched on the Canada forum for the word "Canada" and only got about 6 hits.

Re: FOREX - any suggestions
 

Fairy Nuff.

Re: FOREX - any suggestions
 

Thanks all your your help.

I suspected the search wasn't working as I knew there were posts about recommendations so wanted to find them :)