Moving money from Canada to the UK through Paypal?
Hi, I am wondering if it is more efficient to transfer money from my Canadian bank account to a bank account when I reach London using paypal, or is this a stupidly expensive way that is not very efficient? I want to know how the rest of you would manage this. Also is the procedure the same if one already had a bank account in London as apposed to having to open one up? Or do I just keep charging everything on my visa and mastercard and keep paying it off using my Canadian bank account online while I spend it away in London? (But I am wondering if the fees would be worse than the paypal charges?)
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Re: Moving money from Canada to the UK through Paypal?
Originally Posted by Paradiseapplebody
(Post 9728775)
Hi, I am wondering if it is more efficient to transfer money from my Canadian bank account to a bank account when I reach London using paypal, or is this a stupidly expensive way that is not very efficient? I want to know how the rest of you would manage this. Also is the procedure the same if one already had a bank account in London as apposed to having to open one up? Or do I just keep charging everything on my visa and mastercard and keep paying it off using my Canadian bank account online while I spend it away in London? (But I am wondering if the fees would be worse than the paypal charges?)
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Re: Moving money from Canada to the UK through Paypal?
Originally Posted by Aviator
(Post 9729571)
No idea what the paypal charges are, but it is not a way I would consider. Credit Cards charge 1% for the FX fee, the FX rate varies on each transaction. I only ever use credit cards overseas. I also had a small blance in a UK bank which provided funds when in the UK, which I used to be quite a lot when working, not so much now.
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Re: Moving money from Canada to the UK through Paypal?
Originally Posted by Aviator
(Post 9729571)
No idea what the paypal charges are, but it is not a way I would consider. Credit Cards charge 1% for the FX fee, the FX rate varies on each transaction.
Last I worked it out, PayPal seemed to cost about 3%, taking account of their charges and the spread in their exchange rate. |
Re: Moving money from Canada to the UK through Paypal?
Originally Posted by cornmatthew
(Post 9735616)
I'm curious which Canadian CC you're using that only charges 1%. I must get one of those. The standard seems to be 2.5%.
Last I worked it out, PayPal seemed to cost about 3%, taking account of their charges and the spread in their exchange rate. |
Re: Moving money from Canada to the UK through Paypal?
Originally Posted by cornmatthew
(Post 9735616)
I'm curious which Canadian CC you're using that only charges 1%. I must get one of those. The standard seems to be 2.5%.
Last I worked it out, PayPal seemed to cost about 3%, taking account of their charges and the spread in their exchange rate. |
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