Cheapest Way to Transfer USD to Canada?

[RegMolehusband]

I regularly pay sums of up to 24,000 US dollars into a Canadian supplier's Ontario account. Their invoices are in USD, I don't know why.

I've always done this by foreign transfer via Lloyds online banking. However their exchange rate margin of around 3.4% effectively takes a significant margin out of the products.

Is there a cheaper way of paying this supplier? If I supplied them with a debit or credit card number would it attract the same exchange margin? Probably a naive question!

I looked at Transferwise to see if I could get a better rate but they can't pay USD into a Canadian account.

I need to do another transfer before they get in to work on Monday so any help would be appreciated.

Cheers

"Reg"

Edited by RegMolehusband on Saturday 28th June 13:06

[Sideways Tim]

Transferwise are crap for large amounts too. I use Santander International Transfers as they have a flat rate of £5 and the exchange rate always seems pretty fair. They do take ages to actually transfer the money though.

[RegMolehusband]

Cheers Tim - I've just opened an account with HiFX but will look at Santander too.

[Sideways Tim]

Contact number to get stared is here. They've always been good as far as I'm concerned, apart from taking ages.

https://www.internationalpayments.co.uk/