Wednesday, December 8, 2010

How to Transfer Money From Canada to the United Kingdom

Transferring money from Canada to the United Kingdon can be done either through a bank wire transfer or an online company such as Western Union, PayPal or Alert Pay. PayPal and Alert Pay send the money to the recipient's email account while Western Union sends the money directly to a bank account in the U.K. You will be required to enter the recipient's email address or bank account number, depending on the method

Instructions

    Bank Wire

  1. 1
    Contact the beneficiary and ask him for his bank name, branch address, account number, Bank Identifier Code (BIC) as well as the International Bank Account Number (IBAN). BIC and IBAN can be obtained by contacting the recipient's bank.
  2. 2
    Visit a Canadian bank and tell a bank representative you want to transfer money to the U.K.
  3. 3
    Complete the form that the bank representative provides for transferring money to the U.K. Enter all information about the beneficiary's bank in the U.K. on this form. Enter your bank account information on the form as well.
  4. 4
    Specify the amount of money you are transferring on the form.
  5. 5
    Give the completed form to the bank representative. Ask him how much it will cost to send this amount.
  6. 6
    Obtain the receipt and keep it in a safe place, because you need it to track your transfer.
  7. PayPal, Alert Pay or Western Union

  8. 1
    Visit the website of PayPal, Alert Pay or Western Union by using the information provided in the references below. Click on "Sign Up."
  9. 2
    Fill out the registration form. Enter your email address, contact details and bank account/credit card information.
  10. 3
    Click on "Send Money" once you are registered.
  11. 4
    Enter the recipient's email address, and specify the amount you are transferring. If you are sending money through Western Union, select "Bank Deposit" and enter the recipient's bank account information instead of email address. Western Union deposits the money directly to the recipient's bank account. PayPal and Alert Pay send money to the recipient's email address.
  12. 5
    Click on "Send Money" after entering recipient information. The money will be deposited into the recipient's bank account (Western Union) or sent to his email account (Alert Pay, PayPal). If the money is sent to the email account, the recipient will receive an email notification telling him to register with the website to access the funds.

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