# Cheapest way to exchange currency



## Mike410 (Sep 23, 2015)

Hi, I have British pounds in a bank in England and I want to bring it to Canada where I currently live. What is the cheapest way to convert pounds to CAD?
I do have the option of withdrawing the cash there, and bringing it back with me to Canada.

Thanks!


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## fatcat (Nov 11, 2009)

take a look at xe.com, it might be worth it


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## bonjour (Oct 6, 2015)

Check out TransferWise.


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## leoc2 (Dec 28, 2010)

I have used CurrencyFair in the past.


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## gardner (Feb 13, 2014)

Mike410 said:


> I do have the option of withdrawing the cash there, and bringing it back with me to Canada.


I have had no trouble using bank drafts to transfer between Canada and UK banks. I can have my bank draw up a draft in sterling that my UK bank likes just fine. Irish drafts in Euro deposit here.
Many Canadian banks, especially HSBC, will let you set up an account in sterling, and you can bring your funds in-kind and figure out currency conversion later.


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## Mike410 (Sep 23, 2015)

Thanks for the recommendations everyone, I will have to check out the sites given and see if I would save more doing a transfer through them, or bringing the cash back and exchanging at a bank.


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## mf4361 (Apr 11, 2015)

Zenbanx might provide better rates than xe.com

although for large amounts you may get better with the big banks.


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## Money We Have (Mar 20, 2014)

knightsbridgefx.com also offers good rates when changing huge amounts of currency.


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## asterbin5 (Oct 1, 2015)

Latest Pound / Canadian Dollar Exchange Rates:-

Live Market Rate :- 2.0173
Change: +0.05%, 
Year's High: 2.097

High-street bank rate for International Payments :- 1.9487

Independent FX provider quote:- 1.9971 

By using an independent provider, you can benefit from exchange rates that can deliver up to 5% more currency in some instances


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