Best way to send money to Canada from the UK
Find the cheapest way to transfer money to Canada by comparing money transfer services.
If you want to send money to your friends or family in Canada, enter the amount you wish to transfer in the table below. Then you can compare money transfer companies – the table will show you transfer speed, fees, rates and more.
Compare services that send money to Canada from the UK
How to send money to Canada in 4 steps
- Choose a money transfer service. Use our table to compare rates, transfer fees and more. Then pick the provider that best fits your needs.
- Set up an account. Go to the provider’s site by clicking the button in the table. There you’ll be asked to enter your information, which may include providing identification, a phone number, an address and bank details.
- Pick your payment method. Choose to pay from your bank account, credit card or debit card.
- Send your funds. The money will be deposited into your recipient’s account or sent to a cash pick-up location.
Banks versus money transfer services
While banks are capable of handling international money transfers, they typically charge higher fees and offer unfavourable exchange rates compared to specialist money transfer providers.
Using the services of an international money transfer provider will generally mean that you’ll benefit from greater cost savings.
Case study: Robyn sends money to Canada
Robyn has scored her dream job in London and left her family behind in Toronto, but that doesn’t mean she’s forgotten her roots. She wants to send £500 to her younger sister back in Canada as a birthday gift, but the thought of paying her bank’s £20 transfer fee seems expensive. Robyn decides to compare the services of two specialist money transfer companies to see if she can find a better deal.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||1 GBP = 1.71569 CAD||1 GBP = 1.5878 CAD|
|Transfer option||Bank account deposit||Cash pick-up|
|Transfer time||1 business day||Several minutes|
|Total CAD received||853.49 CAD||793.95 CAD|
As you can see, while Robyn can send an extra CAD$60 by using the first company, the second company does allow her to send an urgent transfer if she needs to.
How do I compare money transfer companies when sending money to Canada?
As with any product, you’ll find the best deal by shopping around. When you’re using our table to compare, keep the following in mind:
- Exchange rate and fees. Make sure you compare both. While one company might offer a great rate, it might charge higher fees. On the other hand, a company offering a poorer rate may have low or zero fees. Equally, some providers will waive fees if you’re transferring a larger amount.
- Pick-up methods. Some transfer companies require that you transfer funds to the recipient’s bank account. Others give recipients the option of picking up cash, which can be particularly useful if the recipient does not have a bank account.
- Transfer methods. If you’re dealing with a mainstream bank you can visit a branch to transfer funds. Otherwise, depending on the service provider you choose, you can transfer funds over the phone, on an app, online, at stores or at specific kiosks.
- Transfer time. If the recipient needs money in a hurry, your best bet is to look for a service that allows cash pick-ups because this method normally takes no more than a day. Bank account transfers can take between one and five business days.
- Minimum transfer amounts. The minimum you can transfer can vary from one service provider to the next. While some may let you transfer as little as £1, some others have minimum limits as high as £1,000.
- Customer service. If you plan on transferring money to Canada on an ongoing basis, you may want to look for a company that offers high levels of customer service, along with support via phone, chat and email.
Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weak currency. Canada has a flexible exchange rate, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Historical rate: GBP/CAD
What are the ways to send money to Canada from the UK?
- Bank transfers. Many major British banks will allow you to send money to Canada.
- Money transfer providers. These will often be based online and offer cheaper fees and better rates. You can see some in the table above.
- Providers with cash pick-up. Western Union and MoneyGram allow you to send funds for cash pick-up at agent locations.
- PayPal. Electronic payment giant PayPal allows you to send money from the UK to Canada.
Emergency cash transfers to Canada
If a friend travelling through the country loses their wallet and you need to send money in an emergency, your fastest possible transfer will often be your most expensive option. Carefully review the exchange rate and transfer fee against your needs so that you understand exactly how much it will cost you.
Tips for picking up cash in Canada
Whether picking up funds in Montreal or anywhere else around the world, take a few simple safety precautions to prevent yourself becoming a target for thieves.
- Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
- Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.
- Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
- Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.
Cash pick-up locations in Canada
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