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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Sending money overseas can feel complex but when you want to transfer money to Canada from the UK, the process is manageable and straightforward. In this guide I’ll walk you through how to do it, the steps involved, the costs to watch and how to get the best deal.
Before you can initiate a transfer, you’ll need to complete an identity verification process. When you transfer money to Canada from the UK, providers are required by the UK’s Anti-Money Laundering (AML) regulations to confirm your identity and address. This is standard practice for banks and specialist providers alike.
If you have a UK address it’s typically quicker, many firms will verify you just via basic information. If not, you may be asked for a copy of your passport and a recent UK bill; a photo/scan emailed from your phone usually works.
Quick tip: Even if you don’t plan to transfer today, complete this verification early so you’re ready when a favourable exchange rate arises. This will smooth the process when you transfer money from the UK to Canada.
The next step in transferring money to Canada from the UK is choosing and locking in an exchange rate. For example, you will see a rate shown as GBP/CAD, which is the British pound versus the Canadian dollar.
You will be asked:
Once you authorise the transfer, your bank or money-transfer specialist will lock in that GBP/CAD rate for you.
You’ll receive confirmation via email showing the amount of CAD you’ll get and how much GBP you sold.
Because exchange rates fluctuate continuously, locking the rate gives you certainty especially helpful when you transfer money to Canada from the UK in a larger amount.
Having locked in the rate, the next step is to pay for your transfer. You’ll be given UK bank details (often a local UK account) into which you must send your GBP. Once they receive the funds, they’ll convert them and send the CAD.
Depending on your provider, you may prefer to send your GBP before locking in the rate to speed things up. Either way, this step is required when you transfer money to Canada from the UK.
Once your GBP payment is received, the provider converts it into Canadian dollars (CAD) and sends it to the Canadian bank account you nominated.
Typical timeframe when you transfer money to Canada from the UK: about 2-3 working days. However, delays can happen because Canadian banks may require additional checks. Some banks are faster than others. If you send your funds in the morning, it may arrive faster; sending after the cut-off (often 2pm) may mean it’s processed on the next working day.
There are two main options for transferring money to Canada from the UK:
On top of the visible transfer fees, the exchange rate margin at banks is typically 3-5% or more, which for large sums becomes very costly when you transfer money to Canada from the UK.
Yes, provided they’re regulated. In the UK, check if they’re authorised by the Financial Conduct Authority (FCA). If they are, your funds are safeguarded, separate from the company’s own money. Always verify via the FCA register.
Exchange rates move constantly. Even a 1% swing on a £200,000 transfer could cost or save you £2,000. So when you transfer money to Canada from the UK:
Typically 1-3 working days, in some cases it can be next day if you use a specialist and submit early in the day.
Legally no cap, but banks and providers may set daily or online limits (e.g., £50,000 or £100,000) when you transfer money to Canada from the UK.
Aside from visible transfer fees, the hidden cost is the exchange-rate margin. Many providers publish the rate, but always check what your recipient will get.
Yes, Canadian banks don’t use IBANs. You’ll typically need the bank’s SWIFT/BIC code, branch/ transit number, account number.
Yes, if you use a regulated provider (FCA-authorised) and ensure funds are safeguarded.
Yes, transfers are permitted, but check cut-off times (often around 2 pm UK time) and ensure you send early for fastest processing.
The important thing is the comparison, online rates shown on Google and other search engines are not always accurate for the consumer. They can often refer to the rates that banks exchange at rather than what is available to you, the customer.
As a first-class currency transfer service, here at Regency FX we endeavour to get competitive exchange rates regardless of how much you are transacting.
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