Send Money from Canada to UK

Best Rates For Sending 1,000.00 CAD to GBP

559.07 GBP

Who We Use Below $7000 USD

Note: Additional fees will likely apply as discussed below. Also see why we recommend Wise for smaller amounts.

Transumo Score

4.7

Visit Review Go to Wise

554.90 GBP

Who We Use Above $7000 USD

Note: See why we recommend OFX for larger amounts below. Some fees are partially built into the amount shown.

Transumo Score

4.6

Visit Review Go to OFX

Links to OFX will remove $15 fee (if applicable) for ever regardless of the amount you send.

558.43 GBP

4.9/5 on Trustpilot due to Customer Service

Note: Additional fees will likely apply as discussed below. If customer service is your top priority look no further.

Transumo Score

4.5

Visit Review Go to Currencies Direct

558.50 GBP

4.9/5 on Trustpilot due to Customer Service

Note: Additional fees will likely apply as discussed below. If customer service is a top priority TorFX may be ab excellent choice.

Transumo Score

4.4

Visit Review Go to TorFX

558.70 GBP

Note: Additional fees will likely apply as discussed below.

Transumo Score

4.3

Visit Review Go to Remitly

558.91 GBP

Solid all rounder

Note: Additional fees will likely apply as discussed below.

Transumo Score

4.2

Visit Review Go to XE

555.00 GBP

Highly Recommended

Note: Low fees and solid performance based on experience and 3rd party reviews.

Transumo Score

4.1

Visit Review Go to CurrencyFair

Get 10 Free Transfers

547.73 GBP

Not Recommended

Note: We use a 2.5% margin on the mid-market rate to give a rough indication of what your fees might be. However there are almost always additional fees (potentially relatively large) involved when using banks.

Transumo Score

1.2

Visit Review Go to Banks

Last updated 2 hours ago

Best Rates For Sending 1.00 CAD to GBP

Who We Use Below $7000 USD

559.07 GBP

Visit Review Go to Wise

4.7

Note: Additional fees will likely apply as discussed below. Also see why we recommend Wise for smaller amounts.

Who We Use Above $7000 USD

554.90 GBP

Visit Review Go to OFX

4.6

Links to OFX will remove $15 fee (if applicable) for ever regardless of the amount you send.

Note: See why we recommend OFX for larger amounts below. Some fees are partially built into the amount shown.

4.9/5 on Trustpilot due to Customer Service

558.43 GBP

Visit Review Go to Currencies Direct

4.5

Note: Additional fees will likely apply as discussed below. If customer service is your top priority look no further.

4.9/5 on Trustpilot due to Customer Service

558.50 GBP

Visit Review Go to TorFX

4.4

Note: Additional fees will likely apply as discussed below. If customer service is a top priority TorFX may be ab excellent choice.

558.70 GBP

Visit Review Go to Remitly

4.3

Note: Additional fees will likely apply as discussed below.

Solid all rounder

558.91 GBP

Visit Review Go to XE

4.2

Note: Additional fees will likely apply as discussed below.

Highly Recommended

555.00 GBP

Visit Review Go to CurrencyFair

4.1

Get 10 Free Transfers

Note: Low fees and solid performance based on experience and 3rd party reviews.

Not Recommended

547.73 GBP

Visit Review Go to Banks

1.2

Note: We use a 2.5% margin on the mid-market rate to give a rough indication of what your fees might be. However there are almost always additional fees (potentially relatively large) involved when using banks.

Last updated 2 hours ago

Disclosure: This post contains affiliate links, which may save you and do not cost any more. For more information, see my disclaimers here.

1. 6 Best Ways to Send Money from Canada to UK (Comparison Table)

2. How Bank Transfers Work

Almost all Canadian banks allow money transfers to the UK but they are not the most cost-efficient option. Banks are usually slower and costlier than money transfer companies. 

We are listing below our brief analysis of some of the popular Canadian banks for sending money to UK.

The Royal Bank of Canada (RBC)

You can send money to 120 countries from their app. To send money to the UK:

1. Press on the “Move Money” icon on the iOS app or the “Send Money” icon on the Android app
2. Then choose the “International Money Transfer” option.

There is a limit of $2500 CAD per day, plus you have a starting pay of $13.50 CAD as a transfer fee. Mostly it takes 1-5 days for money to get to the recipient.

Scotiabank

You can use Scotiabank’s mobile app or the website to send money to the UK. They have outlined the whole process here. You have to pay a $1.99 CAD fee on every transfer. The fee can vary with the account type. The transfer to the UK is completed usually within 5 days. The maximum transfer limit depends on the account type, while the minimum amount is $100 CAD for everyone.

The Bank of Montreal (BMO)

They support money transfers to 50 countries, including the UK. To send money:

1. Log in to your account on the app or website
2. Pick the “Pay & Transfer” option and then
3. Select “Global Money Transfer” to initiate the transfer.

They charge a $5 USD fee per transfer if you don’t have one of the following plans: Premium, Bank at Work, Platinum, and Performance plan under the NewStart® Program. The maximum transfer amount is linked to your daily debit card limit and the minimum transfer amount is $100 CAD.

Canadian Imperial Bank of Commerce (CIBC)

They allow money transfers to 120 countries around the globe. To send money to the UK from CIBC’s app or website, select “Global Money Transfers” and follow the instructions. They don’t charge a transfer fee but the receiving bank in the UK most likely would charge a receiving fee. There is a maximum transfer limit of $50,000 CAD per month and $25,000 CAD per week when paying with a credit card. Transfers are generally completed within 1-3 business days.

Generally, banks charge 6 times more fees than dedicated money transfer services.

Read on to learn about faster and more affordable ways of sending money from Canada to UK.

3. 8 Best Apps to Send Money from Canada to UK

Digital cross-border transactions are becoming more and more relevant in the modern world. Mobile phones have played a very important role in the growth of digital payments. That is why nowadays almost all money transfer service providers offer a mobile app to facilitate their users. 

With so many apps on both the App Store and Google Play store, it can be difficult for users to know which one is best suited for their needs. This is why we are sharing below 8 of our best mobile app picks for sending money from Canada to the UK.

4. Best for Cash

MoneyGram and WorldRemit are our best picks for sending cash payments from Canada to UK.

4.1. MoneyGram

MoneyGram offers reliable ways to send money from Canada to the UK. You can send cash pickup, to a bank account, or to a mobile wallet. MoneyGram has a global network of more than 350,000 agents in over 200 countries.

They have a strong presence in both Canada and the UK. You can find agent locations in both countries easily from their website and mobile app. 

MoneyGram’s specialty is its cash transfer service. To send cash from Canada to UK, you just have to complete a simple form and pay the agent. Recipients can often access the transferred funds within 10-30 minutes.

MoneyGram fees vary depending on the payment option and receiving method. But don’t worry, MoneyGram has a handy calculator tool (opens a new tab) so you can easily see how much your transfer will cost before you send it.

For CAD to GBP conversions, MoneyGram applies approximately 2.7-3% markup. Read MoneyGram full review

4.2. WorldRemit

WorldRemit is a well-known service for international money transfers. They offer extensive support for over 70 different currencies and allow their 8 million global customers to easily send money to more than 130 countries.

WorldRemit has an official presence in both Canada and the UK. In Canada FINTRAC regulates it and in the UK FCA. 

They offer four different payment transfer methods: cash pickup, airtime top-up, bank transfer, or mobile money transfer. Among these four, their cash transfer service is better than other methods.

There is a $3.99 CAD fee for cash transfers but you can use the promo code ‘3FREE’ to potentially get a 3 fee-free transfer. Visit their website here to learn more. They also charge approximately a 2-4% CAD to GBP conversion fee.

To receive a cash payment, the recipient has to present a valid governmental ID and Transfer reference number. Cash transfers are completed almost instantly. Check out WorldRemit full review

5. Best for Smaller Transfers

For smaller transfers (below $9500 CAD) from Canada to the US, Wise and CurrencyFair can be better than their competitors.

5.1. Wise

Wise is one of the best money transfer services for small transfers (less than $9500 CAD). Wise is headquartered in the UK and is also registered in Canada FINTRAC as an e-money transfer service. 

In this list of ours, Wise is the only service that uses the mid-market conversion rate for CAD to GBP exchange without any extra fee. The mid-market rate is considered highly competitive because it is the same rate that banks use for their dealings with one another. 

In addition, Wise also allows users to fix the conversion rate for 48 hours. You can convert currency instantly.

So how does Wise make money? It’s simple, they charge a 0.66% (on average) transfer fee. You can see the exact amount of your fees right now on the Wise calculator here — no sign-up required!

Wise transfers to banks usually take 1-3 business days to complete. Read our full Wise review here

5.2. CurrencyFair

CurrencyFair is also one of our favorites because of its competitive fees. CurrencyFair has a fixed fee structure. They will charge you a simple $4 CAD fee for every transaction. However, you can use this link to get your First 10 Transfers Fee-Free.

Transfers are completed in 1-3 business days.

You can also use their own exchange service if you are in a hurry. Just keep in mind that CurrencyFair charges approximately a 0.3-0.6% markup over the mid-market exchange rate for CAD to GBP conversions. Read CurrencyFair full review

6. Best for Larger Transfers

For large transfers (above $9500 CAD) to the UK from Canada, we find OFX and Currencies Direct to be ahead of other services.

6.1. OFX 

OFX is one of the oldest and most trusted money transfer services. It was established in 1998 and has since been providing a reliable service.

OFX has simplified the process of transferring larger sums (over $9500 CAD or £4000 GBP) from Canada to the UK. They have offices in both Canada and the United Kingdom which add an extra layer of convenience and accessibility for their clients.

There could be a fee of $15 CAD for transfers below $10,000 CAD. However, we organised to have this fee removed (opens a new tab) so you can avoid this fee altogether – if applicable.

All transfers above $10,000 CAD have no sending fee.

You can only transfer from one bank account to another. Banks can also charge you sending or receiving fees.

OFX has an incremental markup structure for currency conversions. It starts at 1.5% and decreases to 0.4% as the amount to be transferred increases. Read OFX full review

6.2. Currencies Direct

Currencies Direct belongs to reputable currency broker TorFX. They specialize in moving large sums of money to different countries.

Currencies Direct is UK-based and they also have a registered presence in Canada. You can transfer non-business related funds of up to $25,000 CAD from Canada to UK without paying any fee. That said, Banks can impose sending or receiving fees on their end. 

Currencies Direct transfers from Canada to the UK are normally completed within two days.

What sets them apart? Currencies Direct can offer you better rates depending on how much you send. You can get a free quote to see how much you can save.

Their business model is based on exchange rates being their primary source of income. They buy currencies in large chunks and resell them to their customers after applying an approximately 0.4-1.5% margin. Read Currencies Direct full review

7. Cheapest Transfers from Canada to UK

More often than not, sending cash is more expensive than bank transfers. However, specialized transfer services like WorldRemit and Remitly have been able to reduce the cost of cash transfers by establishing an effective business model that involves third-party partnerships. This has also given strong competition to other dedicated cash transfer companies like MoneyGram, who had to drop fees to compete.

That being said, in terms of determining the cheapest ways to send money from Canada to the UK, cash transfers are always going to be far behind bank transfers.

Similarly, regulations in Canada and the UK are designed around $9500 CAD and £4000 GBP to distinguish between smaller and larger transfers. That is why you won’t be able to find the absolute cheapest service for all your transfers.

We find that, for the cheapest small bank transfers of below $9500 CAD or £4000 GBP, Wise usually comes out to be at the top with their low transparent fee and the mid-market exchange rate. If you are willing to wait a bit for an even lower price then CurrencyFair’s peer-to-peer (P2P) market can sometimes offer exchange rates even lower than Wise. But their fixed fee of $4 CAD per transfer can still be the hurdle in beating Wise.

For big transfers of above $9500 CAD or £4000 GBP, OFX is generally the most economical service because their fees are attached to the exchange rate that gets better in percentage terms with the increase in transfer amount.

8. Fastest Transfers from Canada to UK

Wise is the way to go if you’re looking for affordable, speedy, and if your transfer amount is less than $9,500 CAD/ £ 4,000 GBP. Even better if the recipient too has a Wise account. If they don’t have a Wise account, it still remains among the most speedy options for transfers to banks. 

Now, if you’re dealing with larger transfers (above $9,500 CAD/ £4000 GBP) and looking for lightning-fast speed, OFX is a perfect choice for you. They have been around for decades and therefore can deliver reliably quick service using their very robust banking relationships in both Canada and the UK.

If sending cash quickly is your priority then MoneyGram is your best bet. They have an excellent network of agents in both Canada and the UK. By using this network, they can transfer cash almost instantly.

Service Provider	Transfer Speed
Banks	3-5 days
	Cash 10-30 minutes, Bank-to-bank 2-3 days
	Cash transfers are within minutes. Bank transfers (several days)
	Instant Wise to Wise transfers. To bank accounts (1-3 days)
	1-3 days
	1-3 days
	1-3 days

9. Fees Compared

The obvious goal for most people is to use a service that offers the most reliable way to send money to their destination at the lowest cost. Considering this, using banks does not make sense as they cost approximately six times more than other services.

If you have to choose one service without much thought, I usually go with Wise. They only charge a 0.66% transfer fee on average without any markup on the mid-market exchange rate. You also get the ability to fix your CAD to GBP exchange for 48 hours.

The only catch is that you can just send small payments (< $ 9500 CAD or £4000 GBP) with Wise. If you want to transfer funds above this limit, then go with OFX. They offer incrementally lower fees and exchange rate margins. This means the more you transfer with them, the cheaper it gets.

Service	Exchange Rate	Transfer Fees
Banks	Approx 2-4% markup (can vary with account type)	$1.99-30 CAD (Depends on the Bank and type of account)
	2.7-3% markup on mid-market rate	The fee varies on payment option and received method.
	2-4% fee on top of mid-market rate	$3.99 CAD
	No markup on the mid-market exchange rate. Can also be fixed for 48 hours	Average 0.66% No other hidden fees
	The P2P market offers the best rate.0.3-0.6% margin using internal exchange	Per transfer $4 CAD
	0.4-1.5% markup	Above $10,000 CAD no feeBelow this limit $15 CAD fee
	0.4-1.5% markup	Up to $25,000 CAD no fee

10. Requirements and Restrictions

When opening a bank account or signing up for money transfer services, you would have to provide a governmental ID, phone number, and proof of residence. The list of requirements varies for Canadian and non-Canadian residents when opening a bank account.

For cash transfers, they will ask you to fill out a form in most cases. The recipient would also have to provide a valid ID and reference number before receiving cash. 

Extra regulations generally kick in after $9500 CAD or £4000 GBP, so you could be asked for additional verification documents for large transfers.

You can refer to this table (above) if you want to learn about the detailed limits and requirements of each service.

11. How to Keep Your Money Safe

The services we have discussed above are all regulated in both the UK and Canada. What’s important is that you remain mindful of what is required of you. For instance, cash transfers are usually harder to track in case something goes wrong. So it’s your responsibility to send only to someone you know and store all the required receipts.

If you are asked for any additional documentation for proof of payment, know that it is for your own safety.

Use strong and unique passwords for your apps and always keep your devices updated to the latest version of the software.

Likewise, turn on 2FA (2-way factor authentication) on all of your financial apps along with your email application. Don’t hand over your phone, provide all the information that is being asked of you personally.

12. Final Word

For large transfers, I like using OFX or Currencies Direct. OFX is my top choice for sending big amounts abroad because they have low fees and 24/7 phone support (which is very important for me). Currencies Direct has also great phone support, and they can offer better rates depending on how much you send. In fact, you can get a free quote from them. Read more reviews (above)

Ultimately, the best service for you depends on your needs and preferences. Comparing your options (above) is the only way to get the best deal for your money. Whether you need to send money for personal or business reasons, finding an alternative to your bank can make a big difference.

Happy transfers!