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Top 3 Money Transfer Providers for Canada to UK

Provider Amount To Send Fee Exchange Rate Speed
TorFX TorFX CAD $10,000.00 No Fee 0.5595 1-3 days more...
OFX (prev. CanadianForex) OFX (prev. CanadianForex) CAD $10,000.00 No Fee 0.559 1-3 days more...
Currency Solutions Currency Solutions CAD $10,000.00 No Fee 0.5581 1-3 days more...
FXcompared Country Guides
Canada
Canada has no foreign exchange controls, making overseas money transfers to Canada or sending money from Canada simple Read More
UK
There are no exchange controls in the UK for the pound sterling (GBP), and transferring money to the UK and sending money from the UK is very easy Read More
 

Send money from Canada to UK

How to Transfer Money from Canada to UK

Canada to UK Guide

Summary

With both being part of the Commonwealth, the UK and Canada have an excellent relationship, with many individuals and businesses working between the two countries. Despite Brexit causing chaos for UK trade, bilateral trade between the UK and Canada remains solid, with an agreement coming into force in 2021.

When it comes to exchanging Canadian Dollars into British Pound Sterling, or vice versa, there are no money transfer restrictions if you are sending money from Canada to the UK. Make sure to keep up to date with exchange rates, and read up on the trusted money providers here at FXcompared to find the best way to transfer money from Canada to UK.

Canadian Dollars and British Pound Sterling

While the Canadian Dollar (CAD), and British Pound Sterling (GBP) are individually amongst the most commonly used currencies, as a currency pair they are traded less than your typical pairing of USD/GBP or USD/EUR for example. Having said that, falling seventeenth on the list of currency pairs in 2023, the two currencies are evidently still exchanged a lot. To ensure you get the best rates and avoid excessive banking fees, going via a reliable money transfer service can save you time and money.

Banking, money and taxes

Moving to the UK requires a lot of planning so be sure to make a note of the necessary steps before deciding on the move. For starters, finances are a big factor. If you move to the UK or are considering buying a property, it’s likely that you will need to open a UK bank account. To do so, you will require various standard documents that can prove you are employed and that show your UK address, and you will need your ID.

Opening a bank account can be a lengthy process, so it is best to plan ahead and start the paperwork as soon as possible, especially if you will need to send money from Canada to the UK to fund the early stages of relocation or a property purchase. Of the Canadian banks in the UK offering retail services, RBC and Scotiabank have the largest presence, but are focused on private clients. Global banks such as HSBC, Citibank and Barclays have a large presence in both countries. When it comes to making regular payments abroad however, going through a money transfer service rather than a bank can save you money.

Given the potential tax implications of transferring money, it’s important to note that Canada and the UK have different tax years. Canada’s is the calendar year, while in the UK, the tax year runs from 6 April to 5 April of the following year. These differences will have an impact on your tax in both countries, especially if you move to the UK, in that first year. Be sure to seek specialist advice on how your tax affairs both in Canada and the UK will be affected if you move country. Likewise, if you are planning to make a large purchase, such as a house in the UK, then it is absolutely advisable to seek tax advice before making the purchase to ensure that you are set up correctly.

Visas and immigration

Moving to the UK from Canada to work? If this is your intent, you will require a work visa. The same applies for studying, and you will require a student visa in order to pursue higher education in the UK. For work visas, you will need to establish which work visa would be suited, and check that you’re eligible.

If you’re looking into temporary work, you can get a two-year visa with the International Agreement visa, and you will need a sponsor in order to do so. For a stay of five years (that will need to be extended if staying longer), you will need to apply for a Skilled Worker visa, or a Health and Care worker visa for medical professionals.

Before making big decisions, be sure to brush up on the latest information available on the UK Gov website.

Top 8 Money Transfer Providers

Latest prices for transferring money from Canada to UK
Exchange Rates as of 19 July 2024, 03:47

TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

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FXcompared Rating
Amount Received
GBP £5,595.26
CAD $265.59
saved vs. banks

OFX (prev. CanadianForex)

Est. 1998

OFX provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates.

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Amount Received
GBP £5,589.62
CAD $255.59
saved vs. banks

Currency Solutions

Est. 2003

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

More InfoLess Info
Amount Received
GBP £5,581.17
CAD $240.59
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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Amount Received
GBP £5,581.17
CAD $240.59
saved vs. banks

Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

More InfoLess Info
Amount Received
GBP £5,595.26
CAD $265.59
saved vs. banks
Start your transfer
with TorFX

Top 8 Money Transfer Providers continued...

Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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Amount Received
GBP £5,504.50
CAD $104.59
saved vs. banks

Corpay^

Est. 2005

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

More InfoLess Info
FXcompared Rating
Amount Received
GBP £5,586.80
CAD $250.59
saved vs. banks

Average Canadian Bank

Est. 1800

Average of the top Canadian Banks costs as compiled by our own FXC Intelligence group. For more details on how the bank price comparisons are calculated for Bank of Montreal, CIBC, Royal Bank of Canada, Scotia Bank Canada, Toronto Dominion Bank, see our IMTI page.

More InfoLess Info
Amount Received
GBP £5,490.40
CAD $79.59
saved vs. banks

Moving with your pet

Don’t be put off moving if you have a beloved pet that you don’t want to leave behind. Fortunately, dogs, cats and ferrets are fine to travel if they meet the requirements. As long as your pet is microchipped, has a passport/health certificate, has had the appropriate medical treatments (usually rabies vaccines and a tapeworm treatment for dogs) and uses an approved route, you and your pet will be able to make the journey together. Read more here.

Studying in the UK

For students looking into potentially studying abroad, the UK is one of the most popular countries for Canadians to study overseas. With such iconic institutions as Oxford and Cambridge universities, applications to study in the UK are plentiful.

It’s important to keep up to date with visa options as they can change. As of early 2023, the Student visa usually allows degree level students to stay in the UK for five years. The requirements include an offer of a place on a course by a licensed student sponsor, having enough money to support yourself, and a firm comprehension of the English language.

Being realistic is important when it comes to finances. Planning is necessary to ensure that the choice to study in the UK from Canada is financially viable, but it can be done.

For starters, the visa costs £363 to apply from outside the UK. Keep in mind additional costs such as the healthcare surcharge too. Tuition fees vary between institutions, but range between £11,400 and £38,000 a year. Plus, living expenses can amount to over £12,000. When making payments in advance, going through money transfer specialists rather than making bank transfers could help you save money.

All things considered, the UK is a top choice for international students and offers an easy route to travel around Europe. With some careful planning and budgeting, UK universities make for a great choice for Canadian students to study.


Whether making the move to the UK, travelling for a holiday, or making a purchase abroad, using a reliable money transfer service can save you money.

Start your transfer
with TorFX

Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from Canada to UK. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.
Start your transfer
with TorFX

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.