You can complete a transfer company's online form to get a personalised quote, as they do not usually advertise their exchange rates.
You get a quote by email after you complete their form, which includes:
The amount you want to send
The exchange rate, and the amount your transfer converts into
The cost of any transfer fees
Get quotes from as many different transfer companies as possible to help you find the best transfer deal.
Ask each company if they offer better exchange rates if you send over a certain amount, for example, you may get a higher rate if you send over £5,000.
What transfer options do you have?
Depending on the company you choose, you can transfer your money in up to three different ways:
Over the phone
In a branch
Use this comparison to find a company that offers the transfer method you prefer.
Money transfers usually take three to five working days, but some companies offer a faster service for an extra fee.
Are there any hidden costs?
Yes, most transfer companies calculate their costs into the exchange rate they offer you.
The main cost is commission, which covers the administrative costs of sending your money abroad.
Why use an international transfer?
Sending large amounts of money to Canada through an international money transfer service is usually cheaper than sending money through your bank.
You could use an international money transfer for the following reasons:
To buy a property in Canada
To pay for your child's education if they study in Canada
To transfer your pension to a Canadian pension company
If you need to make several transfers to the same account, this comparison shows which companies offer a regular transfer facility, which could offer you cheaper rates.
Money transfer to Canada FAQs
Can I transfer money to Canada through my bank?
Yes, most banks offer a transfer service, but it is usually more expensive than using the companies in this comparison. Find out more here.
How long does an international money transfer to Canada take?
Most take three to five working days, although they can take up to two weeks. Check with the transfer company before you send your money.
Can I agree an exchange rate now and send my money later?
Some transfer companies let you do this, also known as a forward contract transfer. Find out more here.
Why do transfer companies offer different exchange rates?
They deduct their costs from the interbank rate (the rate banks use to exchange currencies with one another) to give you a personalised rate.
Can I transfer money to an account in another name?
Some transfer companies only let you send money to an account in your own name. Check this before sending your money to avoid any delays.
Are money transfers FCA regulated?
Yes, your money is kept separate to a transfer company's operational money, meaning you have a better chance of getting your money back if they go bust.