How to send money to Canada

How to send money to Canada

Find out how to send money to Canada with a great exchange rate and no transfer fees.

Whether you are moving to Canada, buying property there, or transferring money to family, you may be wondering how to send money to Canada from the UK.

You are not alone. Canada is one of the most popular destinations for British expats – and you can see why. The Commonwealth nation boasts a high standard of living, spectacular scenery, and an addictive dish called poutine (chips with cheese curds and gravy).

Rather than using your bank to make an international payment, you will find a money transfer service can often be the cheapest way to send money to Canada. Not only can you get a competitive GBP to CAD exchange rate, but you can also avoid costly transfer fees.

To save you the cost and hassle of transferring money overseas, The Telegraph has teamed up with foreign exchange specialist moneycorp to create The Telegraph International Money Transfer Service. Moneycorp offers a competitive GBP to CAD exchange rate, and does not charge a transfer fee – unlike many high-street banks.

How difficult is it to make a money transfer to Canada?

Whether you’re emigrating to Canada and need to pay a deposit on a property, or you have family living there, transferring money to Canada from the UK is easy. 

Sign up for a free account with The Telegraph International Money Transfer Service and you will benefit from convenience and security when sending money to and from Canada. Our expert service includes:

● Currency market guidance from your very own account manager.

● Specialist tools that allow you to manage your international payments with ease.

● The option to fix the GBP to CAD exchange rate for up to two years using a forward contract (please note a forward contract may require a deposit.)

What do I need to send money to Canada?

To make an international money transfer, you will need the following information ready:

● Your personal details

● Reason for trade

● Beneficiary name

● Beneficiary account number

● Swift code or BSB/routing number

● Bank name

Can I transfer money to Canada online?

Use your very own online currency account to send money overseas at the touch of a button. Simply log in, select the currency you want to transfer, enter the amount and make the payment. You can also access moneycorp’s online service via the mobile app on your smartphone or tablet.

As well as making payments at any time and from anywhere in the world, you can track their progress, monitor live exchange rates and sign up for email alerts on FX market movements.

Can I set up regular payments to send money to Canada?

If you need to transfer money to or from Canada on a regular basis, moneycorp’s Regular Payments Plan can manage everything on your behalf. This automated tool enables you to set up weekly, monthly or quarterly payments over the phone or online. All you have to do is provide your schedule, the amount and the recipient’s details – moneycorp will take care of the rest.

The service also allows you to fix the exchange rate, protecting the value of your payments from currency market movements. This provides you with the security of knowing how much you are sending and receiving every time.

The Telegraph International Money Transfer Service takes the stress out of sending money overseas, by providing you with the tools and support you need to make the most of every payment.

moneycorp is a trading name of TTT moneycorp Limited which is authorised by the Financial Conduct Authority under the Payment Service Regulations 2017 (reference number 308919) for the provision of payment services.

Open an account and get fee-free international transfers

The above article was created for Telegraph Financial Solutions, a member of Telegraph Media Group. For more information on Telegraph Financial Solutions click here

Information correct at date of publication.