Sending money home from Canada

Shel_b23

Hi just wondering if anyone knows the best way to send money home from canada? I have a loan that needs to be paid either weekly or monthly in dublin, my aunty lives in canada and told me not to transfer through my bank accounts as it costs too much, is this true? I will need to send home €70 a week or €280 a month.. Right now im paying by direct debit from my AIB account
Thanks in advance

JTMan

Broadly speaking, your aunty is right.

Are you sending home CAD to be converted into EUR? If so, the banks will, most likely, screw you on big FX margins and possibly FX fees and possibly wire fees.

Have a look at Currency Fair, and a few other online currency brokers. You might be able to transfer CAD to the online currency broker for further transfer to your EUR account.

Shel_b23

Fungus wrote: »

Broadly speaking, your aunty is right.

Are you sending home CAD to be converted into EUR? If so, the banks will, most likely, screw you on big FX margins and possibly FX fees and possibly wire fees.

Have a look at Currency Fair, and a few other online currency brokers. You might be able to transfer CAD to the online currency broker for further transfer to your EUR account.

Thanks i'll have a look! It may be just better/cheaper and easier to send it from once a month by western union?

JTMan

Shel_b23 wrote: »

Thanks i'll have a look! It may be just better/cheaper and easier to send it from once a month by western union?

No. I would be shocked if Western Union have lower fees than an online currency broker. Also, online Currency brokers are easy to use.