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To wonder why in 2016 transferring funds from a Canadian bank to a British one is so difficult

(11 Posts)
Fadingmemory Tue 12-Jul-16 19:59:59

New tenant from Canada needs to transfer deposit from her Canadian account to mine prior to coming to the UK. Have given her my bank account number, the name on the account, the sort code, the bank branch address, the IBAN number and the BIC number. If there are any Canadians out there, could you tell me if she will need anything else?


AppleMagic Tue 12-Jul-16 20:02:12

Tell her to use transferwise, then it's really straightforward.

Birnamwood Tue 12-Jul-16 22:36:21

It should be straight forward. Are you sure she is doing a transfer and not paying a bill? You can get into a right muddle if you're not sure what you're doing. Can she go into the bank and do it that way?

<side note> Apple is transferwise good? I am keen to find a different/cheaper way for people to pay for some holiday lets I manage in France. PayPal is easy but expensive and bank transfers seem to befuddle people...

Out2pasture Tue 12-Jul-16 22:39:25

i'm in Canada and would love to occasionally send money to my daughter in the UK. it's been 3 years and I have yet to be able too sad.
i'm with one of the largest banks in Canada, they offer amazing services, international transfer of funds isn't one of them.

AppleMagic Tue 12-Jul-16 22:45:07

Transferwise is great. We are paid in the UK in sterling but live in the US so use it a lot. It's very straightforward and significantly better value than going through the banks.

Birnamwood Tue 12-Jul-16 23:24:39

Thanks Apple, When it first came out, I registered etc but held off actually suggesting it to guests as I wasn't sure of its reliability but I have heard some good things about it so I think I'll start using it now.

Sorry to derail your thread op.

Footle Tue 12-Jul-16 23:27:58

Out2Pasture, have you tried using PayPal ? No idea how expensive it will work out for the sums you need to send, though.

Aftershock15 Tue 12-Jul-16 23:36:05

We have HSBC premier accounts in Canada and UK. Dh uses them to transfer money between the two countries. It was a bit of a nightmare before, but this seems very easy.

Fadingmemory Tue 12-Jul-16 23:40:45

Thank you for such quick responses. Will advise her to look into Transfer wise. She already knows about PayPal.

AppleMagic Wed 13-Jul-16 00:13:53

Aftershock have a look at transferwise. They always have significantly better exchange rates than HSBC (I bank with them too but despite the low fees for international transfers, the exchange rates they use are so much worse than the market rate that they are rarely competitive).

toffeeboffin Wed 13-Jul-16 01:19:32

It makes it much easier if her bank is the same as yours.

As a pp said, HSBC is a good one to use.

It was a nightmare though (Brit in Canada, I've tried several times, it's a nightmare)

Has she tried an Interac e-transfer?

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