CAD to GBP transfer
Sep 28th 2016, 2:31 pm
#1
Dichotomus tinker
Thread Starter
Joined: Aug 2013
Location: Ontario, Canada
Posts: 6,678
CAD to GBP transfer
This topic has been covered many times over the past few years.
I'd like to refresh or update to find out what's currently available for transferring CAD to GBP.
For folks living in Canada, I have looked at several reviews of FX websites for transferring CAD to GBP
I see that there are hidden charges, fees,minimum amounts & in some cases wire transfer costs, or doing it on-line from your Canadian bank to the UK bank little or no fees.
Narrowed down to two for transfers of minimum $10,000 lots to be currencyfair & canadianforex, factoring in the net amount of GBP at the other end
Canadian Currency Converter & Foreign Money Conversion Online
https://www.currencyfair.com/search/...hw#googlebrand
For anyone that has used either, could you share your experience?
Or, have an alternate FX transfer recommendation, taking into account the max or best net GBP at the other end?
.
I'd like to refresh or update to find out what's currently available for transferring CAD to GBP.
For folks living in Canada, I have looked at several reviews of FX websites for transferring CAD to GBP
I see that there are hidden charges, fees,minimum amounts & in some cases wire transfer costs, or doing it on-line from your Canadian bank to the UK bank little or no fees.
Narrowed down to two for transfers of minimum $10,000 lots to be currencyfair & canadianforex, factoring in the net amount of GBP at the other end
Canadian Currency Converter & Foreign Money Conversion Online
https://www.currencyfair.com/search/...hw#googlebrand
For anyone that has used either, could you share your experience?
Or, have an alternate FX transfer recommendation, taking into account the max or best net GBP at the other end?
.
Last edited by not2old; Sep 28th 2016 at 2:35 pm.
Sep 28th 2016, 5:26 pm
#2
Oscar nominated
Joined: Jan 2008
Location: Moncton, NB, CANADA
Posts: 50,821
Re: CAD to GBP transfer
I recently used TransferWise twice.
The rate I got was the same rate as quoted on XE and the fee was 0.5%
£2.75 for £550 and £5.50 for £1100.
Minor quibble...both times they confirmed it would arrive two working days later, next day another email said the day after...but in both cases it was there on the second day as originally confirmed.
This might be a little awkward if one absolutely depended on it.
Purely for convenience I used to take cash out of any of three nearby banks on my UK card but the charges between the two banks would take up £5 or £6 per £100
Although I was paying for convenience, I had usually known a few days ahead when I'd be doing it. Whenever I'd looked previously £9 seemed the norm for transfers. Never again.
TransferWise for me in future.
I'm pretty sure it's the same for reverse transfers.
Although, when I was investigating before picking TW, I had made an enquiry with TransferGo and I had an email the other day suggesting they would charge £0.99 and even doing it by credit card with no other fee...although possibly a slightly lower rate than XE quotes.
The rate I got was the same rate as quoted on XE and the fee was 0.5%
£2.75 for £550 and £5.50 for £1100.
Minor quibble...both times they confirmed it would arrive two working days later, next day another email said the day after...but in both cases it was there on the second day as originally confirmed.
This might be a little awkward if one absolutely depended on it.
Purely for convenience I used to take cash out of any of three nearby banks on my UK card but the charges between the two banks would take up £5 or £6 per £100
Although I was paying for convenience, I had usually known a few days ahead when I'd be doing it. Whenever I'd looked previously £9 seemed the norm for transfers. Never again.
TransferWise for me in future.
I'm pretty sure it's the same for reverse transfers.
Although, when I was investigating before picking TW, I had made an enquiry with TransferGo and I had an email the other day suggesting they would charge £0.99 and even doing it by credit card with no other fee...although possibly a slightly lower rate than XE quotes.
Last edited by BristolUK; Sep 28th 2016 at 5:28 pm.
Jan 9th 2017, 9:22 pm
#3
Oscar nominated
Joined: Jan 2008
Location: Moncton, NB, CANADA
Posts: 50,821
Re: CAD to GBP transfer
Just did my latest £ to $ transfer late Thursday and got $1.64.
The rate today has fallen to $1.60. It's rare for one of these to go my way.
The rate today has fallen to $1.60. It's rare for one of these to go my way.
Jan 9th 2017, 9:30 pm
#4
Born again atheist
Joined: Jul 2005
Location: Europe (to be specified).
Posts: 30,259
Re: CAD to GBP transfer
Of course I'm happy, my $Cdn pension has increased by 27% since I retired 19 months ago and my portfolio (a well diversified one) has gone up by 12%.
Brexit? Wahey!
Last edited by Novocastrian; Jan 9th 2017 at 9:35 pm.
Jan 9th 2017, 10:00 pm
#5
Bex in the city
Joined: Jun 2013
Location: Vancouver, BC
Posts: 3,899
Re: CAD to GBP transfer
I wonder when would be a good time to bring the bulk of my money over from UK as part of my home deposit (if I ever get one lol)
Jan 9th 2017, 10:14 pm
#6
Born again atheist
Joined: Jul 2005
Location: Europe (to be specified).
Posts: 30,259
Jan 9th 2017, 10:40 pm
#8
limey party pooper
Joined: Jul 2012
Posts: 9,982
Re: CAD to GBP transfer
[QUOTE=beckiwoo;12147422]How helpful[/QUOTE
It's his reason for living.
It's his reason for living.
Jan 9th 2017, 10:46 pm
#9
Born again atheist
Joined: Jul 2005
Location: Europe (to be specified).
Posts: 30,259
Re: CAD to GBP transfer
[QUOTE=bats;12147427]
Not really bats, it's just that I flogged my house at that date and transferred the dosh to £ immediately, I would have got a better xchange rate now, but since it's totally unpredictable, why worry about it?
