Transfer money from UK to Canada

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Transfer money from UK to Canada

Postby Blue and White Army on Sun Feb 19, 2006 6:20 am

Anyone know the cheapest way to transfer money from the UK to Canada?

Thus far I've been sending money through my UK bank as a SWIFT money transfer, which costs £20 (or about $40) each time.

Anyone know a better method? Do the private companies offer a much smaller fee, or what is the advantage of using them?

PayPal is another possibility. Would have to re-jig my account, and calculate what their fees are. Think I closed down my PayPal account back in Canada, which (in hindsight) was a dumb thing to do.

Many thanks is advance! :D
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Postby CanuckAbroad on Sun Feb 19, 2006 9:13 am

I've tried both, and usually go with the swift transfer. Depending on the amount, Paypal gives a) a crappy, crappy rate and b) a 2% or more fee.

There's a company that emailed me last month saying that they are planning on starting a cheap transfer company for Canadians, and should have it setup in the next month or so..I'll let you know when I hear more from them.

Otherwise, you might be able to try email money transfers depending on the bank..Might be worth asking.

Let me know if you find any other solutions!
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Postby Susie D on Mon Feb 20, 2006 1:29 am

Provided you don't need the money to clear right away, I find the absolute cheapest is to simply post a cheque. The rates are whatever the rate is at the date of receipt, and it costs you the price of a stamp.

I've been doing this the other way for the past 2 years. I've been paying off my overdraft in Canada by posting a cheque to myself directly to the branch where my account is. I print on the back of the cheque, "For deposit to acc't #*******, branch 17". The only real problem is that it takes a good couple of weeks for the cheque to clear. You don't mention if this is a one-off transfer you're doing, or a regular thing. I did mine monthly.
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Postby Blue and White Army on Tue Feb 21, 2006 2:02 pm

It would be a monthly thing... although my time here is nearly up!
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Money Transfer

Postby hallen on Thu Feb 23, 2006 8:54 am

I started using the Swift Transfer to send money back home. At £30 a transaction, it was getting very expensive.
Then, someone at my UK bank graciously mentioned that you could use something called a "World Pay" transfer at £9, if it was under £2000. They will warn you that it will take up to 6 working days, but I've had them go through overnight and some, on the very same day!
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send money to PI

Postby davaoman23 on Thu Mar 16, 2006 2:58 pm

you should visit http://www.luckymoney.com to send from Canada to UK online.
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Postby Gen E on Sat May 20, 2006 4:03 pm

I know you want the cheapest way, but another option is through the post office. You would also need a trusted friend or family member willing to pick it up for you in Canada and depositing it into your account for you. Writing yourself a cheque is a great idea!
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Postby CanuckAbroad on Sun May 21, 2006 4:11 am

Try the new sponsor at the top of the page: http://www.tranzfers.com
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