Transfer money from UK to Canada

[Blue and White Army]

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!

[CanuckAbroad]

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!

[Susie D]

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.

[Blue and White Army]

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

[hallen]

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!

[davaoman23]

you should visit http://www.luckymoney.com to send from Canada to UK online.

[Gen E]

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!

[CanuckAbroad]

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