Best way to move Funds from Canada to the UK?
Best way to move Funds from Canada to the UK?
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Discussion

uuf361

Original Poster:

3,168 posts

252 months

Sunday 12th August 2018
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Need to move the proceeds of an estate from Canada back to the UK shortly, in one lump sum of around C$250k.

Any recommendations for companies to use to do this?

Quick Google found some like Transferwise, and commission rates around 0.4% - seem OK/

matt666

450 posts

234 months

Sunday 12th August 2018
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I use TransferWise every 6 months to get the proceeds of an employee stock purchase plan out of the US and in to my UK bank account.

The amounts are much smaller than what you’re talking about, but it works really well

arguti

1,867 posts

216 months

Tuesday 14th August 2018
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I always deal with Chris Canning at Argentex https://argentex.com

He is always on the end of the phone or email and if away, one of the team picks up within minutes.

Faultless and great service.

mikeiow

8,163 posts

160 months

Tuesday 14th August 2018
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matt666 said:
I use TransferWise every 6 months to get the proceeds of an employee stock purchase plan out of the US and in to my UK bank account.

The amounts are much smaller than what you’re talking about, but it works really well
I've used transferwise: works just fine!
One thing I would do on that sort of sum....is road test the mechanism first with a tiny amount!
& Transferwise does take some time to appear - in my case (also stock plan transfers), a couple of days, IIRC

Marcellus

7,204 posts

249 months

Tuesday 14th August 2018
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I use World First for currency movements, funds often back same day, might help that it's UK bank (albeit in CAD$) to UK bank (in GBP) and clsoe to interbank rate!

uuf361

Original Poster:

3,168 posts

252 months

Tuesday 14th August 2018
quotequote all
Thanks for the suggestions. I do plan to do a smaller test amount first to ensure it all works before committing to the bigger sum.

Noblebenn

302 posts

216 months

Thursday 16th August 2018
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Chris Canning - Argentex

ctdctd

499 posts

228 months

Thursday 16th August 2018
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I've used TransferWise or Tranzfers (now OFX.com) for funds to Canada or NZ without problems.
Haven't had to use them the other way round though.

Set up an account with both and do a test transfer to check it all works.
Then, I'd do the bigger transfer in two or three lots (just in case!) with whichever one offers the best rate on the day.

ringram

14,701 posts

278 months

Friday 17th August 2018
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Check rates. Ive found ukforex.co.uk give best rates. For that amount give them a call and ask what rate they can give you. (They put me on a better rate level)

Ive transferred a similar amount with them... over time.. zero issues. They are FCA registered as well by the looks.

No fee, just a spread of about 0.5%

uuf361

Original Poster:

3,168 posts

252 months

Friday 17th August 2018
quotequote all
Thanks for all the info and suggestions