- Cheapest way to access MY money in Canada ?
I make money in Sterling, but spend Euros. The best way I've found is to open up an account in the target currency (mine is a Cater Allen UK based Euro account. I'm not sure if they do Canadian Dollars, but the bank doesn't matter, it can be Canadian for example), and then transfer with TTT Moneycorp. You can transfer the money online via their "Global Payments System" platform — transfer sterling into your account, make the currency exchange when you want, transfer it out in the target currency. They screw you to the tune of 1.5%, but like I said, it's best I've found.
If you find any better way, I'd be keen to find out as well!!!
EDIT: My wife also has a Post Office credit card, which doesn't charge a commission. But don't think you can withdraw cash. However my dad lives on the west coast of the states, and he says he hasn't seen a dollar bill for a long time — it's all plastic transactions. Maybe Canada is similar, unless you're going out to the boonies…Posted 9 years agorsMember
Is this a five month holiday that you already have funds for? If so might be wise to just get the money in say travellers cheques or even just cash and bring it straight over that way and dump it in a Canadian account. If you still have a monthly income in the uk that you need to access then something like PayPal can still work well.Posted 9 years agomarkgraylishMember
Best of luck trying to open a Canadian bank account if you're only there temporarily. You may be able to if you have an address to give them.
Be ware that most Canadian banks charge a significant monthly fee (unless you are a 'good' customer). One which doesn't is Presidents Choice. They operate out of kiosks in supermarkets in the Vancouver area (not sure what their arrangements are elsewhere) and you can use CIBC ATMs for free. (Just about everywhere else, there will be ATM charges).Posted 9 years ago
But you hardly need cash – just about everywhere takes credit or debit cards – even pubs! In BC, all fuel has to be pre-paid so all pumps also take cards.
As others have pointed out, use Nationwide credit cards for cheapest fees. I've still got my Nationwide credit and debit card and I moved to Vancouver over three years aog
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