I didn't use the transfer option, when I looked at the cost it was too high which is why we set up a BMO account instead. We just had a standard chequing account in the UK (we definitely did not have funds for a premier account! Lol) so didn't set up a Canadian HSBC account.bryandd said:Hi Tweety,
Just to let you know, HSBC charge a considerable amount of money to use their account transfer option (unless you have a premier account). If you want a cheaper option you may want to think about just writing a cheque, in pounds from your British account to your wifes Canadian one. We have done that and most of our money is now sitting in our CIBC account. If the amount is under £5000 then it goes through without any issues, and takes about a week. You can obviously write as many cheques as you want. Check with the bank about fees, but for us it worked out much much cheaper.
I was never told by HSBC about the 'send money overseas' option, I just saw it one day when I was logged into my account. I just had to put in the details for BMO's head office branch and then my sort code/acct number etc...kind of like PayPal. I think you can send up to $10,000 in each transaction.
Anyway, just something for you to look in to