Moving money from Canada to UK

Closed Thread Subscribe

Thread Tools

Dec 20th 2019, 9:21 am

#16

Twitcher1958

BE Enthusiast

Joined: Dec 2010

Location: Whitby, Ontario

Posts: 730

Twitcher1958 has a reputation beyond repute

Re: Moving money from Canada to UK

Quote:

Originally Posted by Mrchuffie1

Hello, We are currently thinking of moving back to the UK. Last week we asked our credit union about limits on sending amounts back and they said there were none and would only charge $40 / wired transfer. I think that banks are not as accommodating about these things. As others have said try talking to someone else there. Our experience in trying to find things out about moving back has taught us that it's always worthwhile asking someone else as some people just don't know what they're doing.e.g we were told that we couldn't receive our RRIF payments in the UK. We continued to question this and found out this statement was utterly false.

You’re correct with your advice about fully checking that you are getting the right response but the message I take from the OPs story is to ensure that you do whatever at the right time - their issue was that they were no longer in Canada. I would probably have assumed, like them, that the transfer could be done remotely but obviously not.
Sometimes we get the correct answer to the question but later realize we haven’t asked the right question in the first place.

Dec 20th 2019, 11:45 am

#17

MidAtlantic

BE Forum Addict

Joined: Aug 2013

Location: Athens GA

Posts: 2,133

MidAtlantic has a reputation beyond repute

Re: Moving money from Canada to UK

Quote:

Originally Posted by Mrchuffie1

The wire charge is only one element. You also need to consider the exchange rate they use.
A currency exchange (like Transferwise) will usually give a better deal when you take account of any fee AND the exchange rate. On large sums it can make a real difference.