Sending Money Home After Moving to Canada

[itscoezy]

Hi All,
Just wondering if anyone has experience in sending money to another country after you've settled in Canada?

We have 3 teens staying in Mexico that we of course are still financially supporting after landing in Canada. Does anyone have experience with sending money to another country and what's the best way to do this with the least amt of fees?

Thanks all!

 

[mc1234]

Western union amiga!! I got a quote from them a few days ago... 13 dollars for 500 dollars.. not bad!

 

[lonelyinca]

Western Union best bet. You can compare it with Moneygram too..
I think WU gives you $2 off if you get their membership card which is free.

 

[CharlieD10]

Scotiabank offers a Western Union service to account holders. You can actually do transfers without ever stepping foot out of the house because they allow you to do the transfer right from your bank account online. There's a very small flat fee, plus a small percent of the amount you are sending. It actually works out pretty decent for sending money, my husband swears by it.

 

[Mrslwsn]

yea, thru scotiabank, its 9.00 flat plus about 1.00 for every hundred.

 

[knduteau]

can you only send cash? If they have access to a bank account or debit card paypal is the cheapest way to send money only charging $3.00 for international transfers. If its cash either do western union or moneygram.

 

[steaky]

can you only send cash? If they have access to a bank account or debit card paypal is the cheapest way to send money only charging $3.00 for international transfers. If its cash either do western union or moneygram.

No, HSBC Premier online banking doesn't cost you anything to transfer money between your bank accounts in multiple countries of the world.

 

[CrazyLucy]

I use PayPal.

 

[itscoezy]

Thanks for your responses everyone!!

Charlie - does the recipient in Mexico need to have a scotiabank in order to do that, or do I need to have a scotiabank in Canada to be able to do that?

 

[itscoezy]

No, HSBC Premier online banking doesn't cost you anything to transfer money between your bank accounts in multiple countries of the world.

Thanks steaky! I'm going to look into this too

 

[missmini]

from my experience i find Western Union pretty expensive....if u want to send more at once they will also charge u more....but on the good side is that the money arrive in the same day
if they have bank account and u will have one too u can do wire transfer too...it's the same fee no matter how much u transfer but it will probably take a few days for the money to arrive....but u need to make sure that the Mexican bank they will use is part of SWIFT (like a world bank community)....once u open ur account at the Canadian bank ask them which banks they deal with in Mexico

 

[Mrslwsn]

Thanks for your responses everyone!!

Charlie - does the recipient in Mexico need to have a scotiabank in order to do that, or do I need to have a scotiabank in Canada to be able to do that?

The recipient does not have to have a Scotia acct, it is Western Union, so they would pick up the cash from a Union location in Mexico.

 

[itscoezy]

from my experience i find Western Union pretty expensive....if u want to send more at once they will also charge u more....but on the good side is that the money arrive in the same day
if they have bank account and u will have one too u can do wire transfer too...it's the same fee no matter how much u transfer but it will probably take a few days for the money to arrive....but u need to make sure that the Mexican bank they will use is part of SWIFT (like a world bank community)....once u open ur account at the Canadian bank ask them which banks they deal with in Mexico

thanks miss I've checked into the wire transfers with TD and they are between 30-80 they said depending on the amt I want to send. Have you done this before with your bank, just wondering if you have a preferred bank?
I have emailed a few in the city I'll be moving to just waiting to hear back!

 

[missmini]

thanks miss I've checked into the wire transfers with TD and they are between 30-80 they said depending on the amt I want to send. Have you done this before with your bank, just wondering if you have a preferred bank?
I have emailed a few in the city I'll be moving to just waiting to hear back!

hehe we have TD account too...from what i know they say the fee is 10$ to receive (not send) but they also say the other bank might charge something; not clear how much : i guess depends from bank to bank country to country; maybe also depends on the type of account people have; for us the bank here says it's free of charge so it would b just the 10$ from TD; i guess we will know when we try it...i happen to read abt this these days as well; if we'll try it soon i'll let u know the details but for now we r doing the other way around (from outside to Canadian (TD) account; it shouldn't b much difference though)

 

[itscoezy]

For anyone that might be in the same boat looking into options for sending money internationally.
This is what I got as a quote from Scotia bank this morning:

Wire payments are subject to the following fees:

- a fee of 0.15% of amount of the transfer ? minimum $25.00; maximum $100.00
- telegraphic fee of $15.00
- foreign exchange

TD had advised their fee is between 35-80 (I believe those were the numbers) for each transfer depending on amt sent.

I checked in with HSBC Premier as was suggested but the fee per month is 28.00 and they said it's for people with 100,000+ dollars.

So far western union or the other one look the best. =)

Thanks all for your help! !