CAD -> GBP

[i***@invalid.invalid]

I have a Canadian CAD account, and I want to transfer 80,000 CAD from
it to UK GBP cash. I live in the UK.

What's my best move? I can take 500 GBP per day / 3,000 CAD per week
via Canadian credit card. I can take 999.99 GBP per day through
Western Union to GBP cash.

How is TT telegraphic transfer organised? Can I send / TT to a UK GBP
bank account, then withdraw from the UK GBP account in cash?

I am considering possibilites. Advice welcome.

[David Woolley]

Post by i***@invalid.invalid
I have a Canadian CAD account, and I want to transfer 80,000 CAD from
it to UK GBP cash. I live in the UK.
What's my best move? I can take 500 GBP per day / 3,000 CAD per week
via Canadian credit card. I can take 999.99 GBP per day through
Western Union to GBP cash.
How is TT telegraphic transfer organised? Can I send / TT to a UK GBP
bank account, then withdraw from the UK GBP account in cash?
I am considering possibilites. Advice welcome.

You need to talk to your bank and probably a UK accountant. What you
are proposing ought to trigger money laundering alarms, and reports to
the enforcement authorities. You need to do this in a way where you
provide the documentation that proves who you are and that you obtained
the money legitimately.

In my view, requiring such a large amount of money in cash is a show
stopper, as there are almost no legitimate reasons for doing so.

[i***@invalid.invalid]

On Sun, 7 Apr 2019 12:14:54 +0100, David Woolley

Post by David Woolley
In my view, requiring such a large amount of money in cash is a show
stopper, as there are almost no legitimate reasons for doing so.

If I transfer the 80,000 CAD to a UK bank account, rather than cash,
then would that worry the money laundering authorities?

The money is "kosher" and I can prove it was obtained legitimiately.
Basically I've never yet transfered such a large sum of money, and I
would like information / advice as to how to do so.

[Chris in Makati]

Post by i***@invalid.invalid
On Sun, 7 Apr 2019 12:14:54 +0100, David Woolley

Post by David Woolley
In my view, requiring such a large amount of money in cash is a show
stopper, as there are almost no legitimate reasons for doing so.

If I transfer the 80,000 CAD to a UK bank account, rather than cash,
then would that worry the money laundering authorities?
The money is "kosher" and I can prove it was obtained legitimiately.
Basically I've never yet transfered such a large sum of money, and I
would like information / advice as to how to do so.

It's still possible you could be asked about the source of the funds,
but if you can show it was obtained legitimately then it shouldn't be
a problem.

You might want to do some research into where to get the best rate of
exchange when converting the CAD to GBP.

[Sheila Page]

Post by i***@invalid.invalid
On Sun, 7 Apr 2019 12:14:54 +0100, David Woolley

Post by David Woolley
In my view, requiring such a large amount of money in cash is a show
stopper, as there are almost no legitimate reasons for doing so.

If I transfer the 80,000 CAD to a UK bank account, rather than cash,
then would that worry the money laundering authorities?
The money is "kosher" and I can prove it was obtained legitimiately.
Basically I've never yet transfered such a large sum of money, and I
would like information / advice as to how to do so.

1 Check with the Canadian Bank what their charges are, for transferring
in CAD and in GBP (the charges are probably different).
2 Check with your UK bank (if you have accounts with more than one,
check all of them) what their charges are for receiving money in CAD and
GBP.
3. Check what exchange rate each uses (just ask each, on the same day,
what their rate for that day is to find out any difference).

Then check what combination is likely to be cheapest.

Avoid any date where there is particular uncertainty (for example, any
of the various Brexit deadlines) as the exchange rate spreads will be
higher.

Sheila