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Topic: Transferring money to UK  (Read 1807 times)

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Transferring money to UK
« on: December 01, 2019, 05:23:42 PM »
Not sure where else I could have posted this, but hopefully it makes sense.

I lived in Canada for a few years and still have money in an account there (CAD). I'm looking to transfer it to my British account in GBP.

I've used Transferwise before which is great, but unfortunately not sync'ed up with my Canadian Bank, which is TD Canada Trust. It gives the "manual" instructions for the transfer, but according to TD over the phone, they require that I am there in brand to issue the wire transfer.

When I told them that's not possible, they said the only other way is to issue a check to myself from my CAD account to my UK account, assuming my UK account can accept CAD.

Does anyone know of a better way around this? Surely if I cash a check to myself then I'll get a horrible conversion rate, etc.

Unfortunately I'm not from Canada and have no family there, so I have no way of getting a family member to do anything about it.

Many thanks,,

Lee


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Re: Transferring money to UK
« Reply #1 on: December 01, 2019, 05:27:35 PM »
Not sure where else I could have posted this, but hopefully it makes sense.

I lived in Canada for a few years and still have money in an account there (CAD). I'm looking to transfer it to my British account in GBP.

I've used Transferwise before which is great, but unfortunately not sync'ed up with my Canadian Bank, which is TD Canada Trust. It gives the "manual" instructions for the transfer, but according to TD over the phone, they require that I am there in brand to issue the wire transfer.

When I told them that's not possible, they said the only other way is to issue a check to myself from my CAD account to my UK account, assuming my UK account can accept CAD.

Does anyone know of a better way around this? Surely if I cash a check to myself then I'll get a horrible conversion rate, etc.

Unfortunately I'm not from Canada and have no family there, so I have no way of getting a family member to do anything about it.

Many thanks,,

Lee

Do you have a debit card for the Canadian bank? If so, you should be able to use that to pay Transferwise.


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Re: Transferring money to UK
« Reply #2 on: December 01, 2019, 06:56:58 PM »
I do, but Transferwise doesn't allow payments via debit card over $3,000.

If I do installments of $3,000 CAD per day, will this result in a much worse rate? (without disclosing exactly how much I am looking to transfer).


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Re: Transferring money to UK
« Reply #3 on: December 01, 2019, 07:04:24 PM »
I do, but Transferwise doesn't allow payments via debit card over $3,000.

If I do installments of $3,000 CAD per day, will this result in a much worse rate? (without disclosing exactly how much I am looking to transfer).

The rate will be the same, you will pay slightly more in fees per dollar.

Just put some figures into my account for you.

For 3,000 CAD the fee is 29.44 CAD
for 30,000 CAD  the fee is 220.99 CAD
For 300,000 CAD the fee is 2,027.75 CAD


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Re: Transferring money to UK
« Reply #4 on: December 01, 2019, 07:17:02 PM »
The rate will be the same, you will pay slightly more in fees per dollar.

Just put some figures into my account for you.

For 3,000 CAD the fee is 29.44 CAD
for 30,000 CAD  the fee is 220.99 CAD
For 300,000 CAD the fee is 2,027.75 CAD

Actually, those fees are for ACH. It'll probably be a little more for a debit card transaction (I can't get any further without committing) but you get the idea.  :)


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