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Transferring UK money to Canadian bank account while in the UK

Transferring UK money to Canadian bank account while in the UK

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Old Dec 10th 2013, 2:22 pm
  #16  
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Default Re: Transferring UK money to Canadian bank account while in the UK

Originally Posted by not2old
good info on HSBC

Is that always the case that you can negotiate the rate (then self compare to other FX providers)?

On the amounts, does it matter how much, is there a minimum or suggested transfer amount - are you advising small amounts under $10,000 or larger to say $100,000?
Different rates for differing amounts. I cannot say that every branch will do it, but certainly after me moaning about the rates they do this every time for me. They will give you an indicative rate over the phone so you can compare with other providers, but when you want to book it for this process to work you need to be in the branch.

I have to say, they guys locally have been extremely helpful and so now get all my business. So just good customer service wins though!
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Old Dec 10th 2013, 2:52 pm
  #17  
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Default Re: Transferring UK money to Canadian bank account while in the UK

Originally Posted by rivingtonpike
If you open an account with HSBC (not my favourite but hey!) you can have a "global view" with accounts in any country/currency (as far as I know). We have Canadian $, UK £, and US $. We can shift money between them instantly.
For the Canadian side - compared to those (XE & Excel) mentioned on this thread, how does HSBC in Canada stack up as far as fees & FX rates?

I tend to look beyond the smoke & mirrors, more interested in the net result & how much did it cost me. On a 1.7 FX for £100 -£1000 GBP to Canadian did I end up with $170 ($1700)

Or for that so attractive FX rate of 1.73 using one of the FX currency outlets, did I net $169 ($1690) due to service charges.

Takes a bit of work or a piece of mind & me thinks the folks in the FX business such as XE & excel are in it for the money with banks such as HSBC see it as a small part of retail business.
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Old Dec 10th 2013, 3:17 pm
  #18  
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Default Re: Transferring UK money to Canadian bank account while in the UK

Originally Posted by not2old
For the Canadian side - compared to those (XE & Excel) mentioned on this thread, how does HSBC in Canada stack up as far as fees & FX rates?

I tend to look beyond the smoke & mirrors, more interested in the net result & how much did it cost me. On a 1.7 FX for £100 -£1000 GBP to Canadian did I end up with $170 ($1700)

Or for that so attractive FX rate of 1.73 using one of the FX currency outlets, did I net $169 ($1690) due to service charges.

Takes a bit of work or a piece of mind & me thinks the folks in the FX business such as XE & excel are in it for the money with banks such as HSBC see it as a small part of retail business.
No fee and certainly north of $1.69 as a rate against the sport of $1.70
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Old Dec 10th 2013, 4:01 pm
  #19  
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Default Re: Transferring UK money to Canadian bank account while in the UK

Originally Posted by not2old
For the Canadian side - compared to those (XE & Excel) mentioned on this thread, how does HSBC in Canada stack up as far as fees & FX rates?

I tend to look beyond the smoke & mirrors, more interested in the net result & how much did it cost me. On a 1.7 FX for £100 -£1000 GBP to Canadian did I end up with $170 ($1700)

Or for that so attractive FX rate of 1.73 using one of the FX currency outlets, did I net $169 ($1690) due to service charges.

Takes a bit of work or a piece of mind & me thinks the folks in the FX business such as XE & excel are in it for the money with banks such as HSBC see it as a small part of retail business.
If you are a "premier" account holder with HSBC there are no fees (pretty sure). Their rates used to be very favourable compared to other exchange dealers, but they seem to have reverted to the mainstream rates in recent months/years. Always worth shopping around.
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Old Dec 10th 2013, 4:27 pm
  #20  
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Default Re: Transferring UK money to Canadian bank account while in the UK

I've used currencyfair

Fees are pretty minimal and the rates are decent. Once you've signed up and added your accounts it's a fairly simple process and they explain it all clearly on the site. I've sent money to accounts in Canada while in the UK and it's always been fine. Usually takes 3-5 days to show up at the other end.
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Old Dec 10th 2013, 5:41 pm
  #21  
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Default Re: Transferring UK money to Canadian bank account while in the UK

Hi,

I transfer money from my Lloyd's account to my td account in Canada.

It costs £10 for up to 5k

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Old Dec 11th 2013, 1:33 pm
  #22  
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Default Re: Transferring UK money to Canadian bank account while in the UK

We had an HSBC account in the UK just so we could open an account here in Canada. Unfortunately our local HSBC branch was never open and their account charges are very high. It was good for transferring money between countries but sadly every other service was rubbish. It seemed that they were only interested dealing with you if you had a lot of money in the bank.
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Old Dec 11th 2013, 8:28 pm
  #23  
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Default Re: Transferring UK money to Canadian bank account while in the UK

We can transfer money direct from our Natwest account to our RBC account. We do it all on-line and do not have to set foot in the bank.
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