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What is the best way to transfer money to the UK from Canada?

By November 19, 2020December 17th, 2020No Comments
Send money to UK from Canada

You need to send money to the England, Scotland or Ireland.  What is the best way to go about it?  How do you get the best exchange rate?

1

How much you would like to send

Determine how much you want the recipient to receive in Pound Sterling.
2

Use the tool

Figure out how much you have to send in Canadian dollars for the recipient to receive the right amount in Pounds. You can do this by using our Send Money to UK exchange rate tool which allows you to see exactly how much you need to spend to send a given amount to the UK. The tool is live and the amount shown is exactly how much you will send and receive.
3

Book the transfer

When you are ready, book the transfer. Make sure you have the recipient bank information available so you can direct where the money goes. There are no fees for sending money to the UK from Canada. You will receive a receipt in your email and the your recipient will receive the funds three or four days later in their bank account in Pound Sterling.

What to look for when sending money to the UK:

Get the Best Exchange Rate

The GBP to CAD exchange rate is moving all the time, as are all other currencies.  You can certainly try to pick the best time to send the money to the UK by keeping track of the exchange rate but that is hard because even seasoned traders can not accurately forecast exchange rates.  But what you can do is make sure that at any given time you are getting the best exchange rate from your transfer company.  You can do this by comparing rates online at the same time.  Make sure you are comparing rates that the company will actually give you and not their “indicative” or “spot rates.”

Do Not Pay Fees

If you are converting or sending money, you should not have to pay transfer fees.  That’s the old way of doing transfers.  With the advent of technology, no one should charge “fees” for just transferring money.

Be Safe

Make sure you are dealing with a reputable company. One way to do that is to make sure that the company has many physical locations that you can visit.  Another way to do that is to make sure they have been around a long time.  Finally, reputable money transfer companies have to be registered with the federal government.

The Interchange Financial solution:  Send Money to the UK

Interchange Financial, Canada’s leading foreign exchange company, has a solution designed just for Canadians transferring money to a UK bank account. We have been transferring money to the UK for Canadian clients for 20 years. Through our Send Money to the UK service, you can get the best exchange rate and safely transfer your funds. There are no fees or service charges associated with the Send Money to the UK service.