Have you ever thought about international removals to Canada, only to find yourself feeling a little stumped by thoughts of currency exchanges and the like? If this is something you have experienced, you wouldn’t be alone - which is why, today, our team is on hand to help you find out a little more about the different money transfer solutions and opportunities you could consider for your shipping to Canada. It’s really not as hard as it sounds, and you’ll soon be on your way to enjoying a new life in Canada overall.
How to Transfer Money to Canada from the UK
Transferring money from Canada to the UK can seem like a complicated process, but in reality, it’s not actually as tricky as it might seem. With this in mind, today, we’ve outlined the key steps you should know as follows to help you move to Canada easily and without the hassle – and, critically, ensure your currency exchange efforts are simple and straightforward overall.
If you are considering to take some cash with you while travelling to Canada, you should always double check how much money you bring to Canada. This will help you to avoid potential problems with Canadian customs.
Transferring Money Through Your Banking Provider
The first, and perhaps the most obvious, method you might consider for transferring money to Canada from the UK is simple: through a banking provider. Indeed, in many cases, your bank will be able to help you transfer your Pound Sterling into Canadian Dollars – but the exact requirements for this process will usually depend on your banking provider. Indeed, every bank is a little different; as such, ideally, you should reach out to your chosen bank to find out more.
Notably, using a bank for money transfer is incredibly effective for those who want a fast and hassle-free money transfer solutions. However, you may find that banks request high fees or poor exchange rates, which may leave you spending more to transfer your GBP into CAD than if you’d partnered with a money transfer specialist instead.
So, how much does it cost to transfer money through your Banking provider? Well, as we’ve already stated, this will vary from bank to bank. However, most banks will usually charge in the region of £10-£20 for a money transfer, although this will usually increase if you are transferring a large sum of money. For example, Natwest charges 0.3% for money transfer services for exchanges over £5,000, up to a maximum fee of £40. Meanwhile, Barclays charge a premium of £15 if you’d like priority money transfer services.
It’s worth noting that, in many cases, the recipient of the money will also be charged a fee to accept the transfer, depending on the value of the transfer.
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