firefox

Hi all which is the best way to send money back to the UK from Canada.
I am hoping to be moving back soon to the uK.
I have heard that paypal is good.

Thanks
Fairfox

MidAtlantic

Transferwise seems to be the most popular at the moment, but there are several others.

If it is a large amount (eg from the sale of a home) it is still worth checking with your bank.

firefox

They want around 500cad seems high

Benson55

There is usually a limit that these transfer services will take on so the comment on the large amount from the sale of a property is very relevant.
A lot of people on here go for HSBC Premier account as they seem to offer a transfer to the UK but you need to check in a large branch and on their website.

If you get an answer please post it back as there are others who would be interested.

MidAtlantic

500 for what? You need to consider the fee and the exchange rate together. A low fee with a poor exchange rate will not be the best deal.

Check here for other providers:

https://fx-rate.net/currency-transfe...D&cp_input=GBP

alohavic

Is there a limit that you can transfer with paypal?

Aviator

For a few dollars PayPal is likley OK, for larger sums their rates in my experience are extremely uncompetetive.

A currency broker us usually the best bet. Forget the rate they give you, ask how much FX you end up with. None of them do it for free, some build in the fee to the rate, others charge it on top. It is what you end up with in your jeans at the end of the day that counts.

Pulaski

MidAtlantic meant you need to go to a branch, or at least phone them, and you need to ask for a "dealing desk rate".

You will probably need to be talking about at least $100k before they will want to give you a dealing desk rate, and the bigger the number the better the rate but that is the commercial rate, similar to what corporations get for million dollar transactions.

If you just look at the rate posted on the bank's web site you won't be getting the true market rate.

Oh, and the dealing desk rate moves almost continuously - when the time comes you will literally have, maybe 60 seconds to say "do it", or the rate you are able to deal at will change, maybe up, maybe down, but it will change.