Working abroad Sending money home to my UK Account

A question about : Working abroad Sending money home to my UK Account

I will be working (temp visa) in Canada and getting paid into new Canadian Bank account. Whilst not permanently emigrated I will be wanting to send back a regular monthly payment of approx; Ј1000, to cover existing UK loan and mortgage in UK account.
What is my best option, transfer through the 2 banks, or use another finance transfer company (Halo/ moneycorp/ W.union etc)?
What sort of fees /exchange rates are involved? Thanks for any advice from anyone who has/or is in this process.

Best answers:

• Avoid having the Canadian Dollars sent directly back to your UK bank as they offer terrible rates and you wont know what the rate was until you check your statement after the Canadian Dollars have been converted to Pounds.
  You should use an international money transfer specialist to get the very best rate. Once you have registered you could transfer the Canadian Dollars transferred directly to their Client Canadian Dollar account - they will always let you know the rate before converting the Canadian Dollars to Sterling. Once you book the rate the GBP would be sent to your UK bank account.
• Thanks for the help; So what they can save me will outweigh any fees they will charge?
• You will usually save up to 4% compared to what rate the bank would give you. Also, if you use an international money transfer specialist such as Thomas Exchange UK they wont charge you any fee when converting inbound international payments to Sterling.
• In addition to the below a currency provider will be able to offer you guidance in the markets to try and help you trade at the best time so you will hopefully get more for your money.
  It is worth noting that the larger the transfer you have to make the better the exchange rate you should get. If you are able to transfer money every quarter instead of every month you should be able to get a slightly better rate and it will save you on 3 months of transfer fees as you will only pay 1.
• Make sure that when you enquire with fx companies. ask them what actual rate they would give if for example you were doing the transfer there and then... Dont let them quote you the interbank/spot rate as you will not get that rate!! Certain companies quote the interbank rate as an 'indicative' rate to 'draw' you in!
  I know somebody who sent €100,000 to moneycorp and the rate that was given once the euros hit moneycorps account was awful - the rates on travelmoneymax for converting €100 to GBP on the same day were better than what money corp were offering for a large transfer!!
  Also, most other reputable moneytransfer companies do not charge any fee for inbound transfers.
• Check put Custom House (xe.com) who are based in Canada. They make their money on the exchange rate and don't charge any fees, so would be good for sending lots of relatively small amounts of money.
• The cheapest (practically zero fees), fastest and most secure way to do this is with Bitcoin.
  For all its faults, international money transfer is Bitcoin's one area where it beats all others hands down.
• Hello there,
  I need your help. I was working in Denmark and I have a bank account over there part of the money are on danish korone and part of them in euro. I am thinking to transfer them on my uk account. I am not very good with these things but with a quick look the exchange rate of my Danish bank wasn't great. Do you have any suggestions? I have used in the past a money broker but for sending money from uk abroad. Is it possible to do it the other way? How do I check which will offer the best? Is it a good time to do the transfer or should I wait for the euro to get stronger? Would be any problems with UK tax etc? How does it work? any advice will be appreciated.
  Thanks
• If you want to transfer money for free then check this website: https://www.hifx.co.uk/
  Its safe and very easy to use.
  Thank me later