prairiechicken

Just looking into money transfers. Any recommendations for transferring money from house sale over to Canada? Either how-to, or recommendations of companies who offer this service (or Wouldn't-Touch-With-A-Bargepole experiences). Have already got info from Currencies Direct and someone told me to contact Caxton FX.

SchnookoLoly

If you do a search you will find buckets of threads on the same subject.

We used Oanda. Slightly higher fees than some of the other transfer services, but transfers of up to £50,000 are protected even while in transit, so we used them and limited transfers at £50,000 per transfer. Just gave a bit of reassurance that everything would transfer just fine. The tradeoff was that the fees were slightly higher, I think it was something like $20 for the first transfer in a calendar month, and $40 for every additional transfer that month. http://fxtrade.oanda.ca/help/how-to-withdraw-funds

Service was great, easy to use, money usually arrived in 2-3 business days.

Twitcher1958

We have used both Halo and Moneycorp and found them both fine, although recently Halo's rate has been marginally better for us. Both companies efficient and friendly to deal with.

magnumpi

We used HI FX all went well. Most of the big companies are well versed in money transfer it's not that much of a mine field, stick to a known company and u should be ok.

Eddmac

I have used both Moneycorp and Caxton Fx and both were problem free.

Photoplex

Sold my house in the UK and did the following:

1. Opened a GBP account with TD
2. Transferred the money directly from my UK bank to the TD GBP account, so it landed without exchanging into CAD, and with minimal fees (think I paid $10)
3. I let the money sit in the account until the exchange rate was favourable
4. Contacted several ForEx companies and shopped for the best possible rate for the 150k GBP
5. Called TD, explained the situation, got put through to a special department that deals with large exchanges, and they matched the best ForEx rate I received, no questions asked

I got the best possible exchange rate, with the least amount of risk, and nearly no fees.

Eddmac

That sounds like a very interesting solution!
Were you in Canada when you opened the TD GBP account, or did you do this from the UK?

Photoplex

Glad you liked it! I didn't trust the other small shop institutions, so this worked out the best of all worlds.

Yes, I had been in Canada for a while and already had some accounts with TD. I don't think being an existing customer was a prerequisite, although I do think having a Canadian address and SIN may be.

jandro

We used HiFX. The transfer went smoothly and the customer service was good.

CKMaddAll

For the record, TD as in: http://www.tdcanadatrust.com/product...ex-banking.jsp

I have the same question, and want to make sure I do it correctly!

GandH

Couldn't fault Halo. Absolutely fantastic service and everything done when they said it would be and really helpful staff.

HTH

Photoplex

That's the one - the mega banking corp.

I had to open the account in branch. Also, the GBP account can't be accessed or managed via internet banking, and the tellers in branch can't access it either. They can only be accessed by specific staff in branch and on the telephone. It's considered a "special" account because it exists on a separate computer system at TD, and only certain staff have access to that system. Also, the account is not interest bearing - but that's not anything to worry about unless you leave it sitting there for ages!

All minor points, as when you need to access the account to make the exchange you do that with the treasury department on the phone