There are worldwide banks, like hsbc and others. Typically you should just open a canadian bank account.Are there any banks in australia that have affiliates in Canada, thus reducing any crazy transaction fees ? Or should I just open a Canadian bank account ?
With the cedit cards it pays to shop around, some of the premium cards save you money, higher anual fee no transaction fees.I have opened a Canadian and Australian bank account from here in the UK with HSBC. I have had my debit cards delivered to me here in the UK, could have had a credit card but needed local addresses and also have my internet banking set up. I am a Premier customer so I am able to connect all my account up and freely transfer money between all the accounts. My account setup also cost me nothing, but only cos I am a Premier customer, otherwise it would have cost £100.
HSBC in the UK charge £17 to transfer money to an international account.
I wouldn't use Paypal, their exchange rates will be lower than you get from the bank. Also not sure if there are any other transaction fees involved...
Problem with the international credit cards will generally be the fees involved per transaction, they soon mount up!
Visa Europe (rate HSBC UK charge on their debit cards)
If you have a Paypal account you can check their rates
OzForex rates look god so you should check them out too. You should probably open up a Canadian account anyway, gives you somewhere to transfer your money into and a local debit card to make your purchases.
Yes, after I wrote that I did come back to think that it really depends on how much you are transferring and if it is smaller amounts then definitely worth considering Paypal due to the fact there is no transaction fee.With the cedit cards it pays to shop around, some of the premium cards save you money, higher anual fee no transaction fees.
Paypal can be a good option depending on the amount of money, as they all depend on the amount you wish to transfer each time.
I personally like the hsbc, even if its an account you only use forcertain cercumstances
I might be wrong, but I thought Western Union was the most expensive way to transfer money. Some internet sites might be the cheapest way. I forget the names now. Try googling for "money transfer international". But compare bank charges and exchange rates against what you are paying now using Western Union. I'll bet you find even the banks are cheaper. Good luckI opened a Canadian Bank account when I arrived. I also still hold my Australian bank accounts too. I have tried many ways to get Canadian $ back to Australia and have found Western Union to be the best, however this means that I send Aussie $ in cash to family members who collect the money in Australia once I give them the money control number upon me sending from Canada, its instant and there is a fee involved of course. Perhaps this is an option?