Posted by Dan Misener on January 21, So then, when when Jenna and I decided to move to France, I started looking around for alternatives to bank wire transfers. I set up our CanadianForex account while we were still in Toronto. The process was pretty simple. It involved filling out an online form, taking a telephone call from a friendly CanadianForex rep to confirm a few details, then sending in proof of our Canadian bank account a scanned bank statement.

I set up our French bank account as a beneficiary, then placed an order online. I ordered Euros on January 11, Using CanadianForex got me an extra 1. I telephoned CanadianForex a few times — once to confirm that my French banking details were set up correctly, and another time to confirm that there would be no intermediary bank involved.

Both times friendly human beings with Australian accents CanadianForex is owned by Austalia-based OzForex helped me out and answered my questions. When I asked TD about their wire transfer protocol, they handed me a photocopied form, and told me that when I wanted to transfer money, I could fill it out and fax it to them. From start to finish, the transfer took a few days. When I checked, the transfer was exactly the amount quoted, and indeed, there were no fees or intermediary banks involved.

CanadianForex advertises itself as a cheaper alternative to wire transfers, and in my lone experience, it is. That time Timbuk2 replaced my 5-year old bag, for free.

My new favourite iPhone app: I too, am looking into using Canadianforex.

Do you have any links to legitimate companies that rate this company such as the BBB in Toronto? CanadianForex is registered with and regulated by FINTRAC http: I just looked up their registration here: How have you transferred Canadian Dollars to them five times while you are in France?

My real-life experience using CanadianForex | irudivupic.web.fc2.com

Simple and prompt every time. Do you transfer it to an account with them first? They have CAD bank accounts set up at several major banks in Canada.

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CanadianForex had better rates compared to my bank. Money arrived in London in three days.

Always good to find good references on a company I was looking to try. I need to transfer from USD to CAD. I have recently noticed that TD have dropped CanadianForex as a supported EBill payee Canadian Forex confirmed this when I contacted them. I am trying to work out if there is any other method that you can use to complete the transfer. I ran into this exact problem last night, so I called Canadian Forex and they gave me a simple solution!

Talked to TD and they got me to do a wire transfer at this point I was 2 days into my 3 day window for the transaction so I just went ahead with it. Same problem for me. I used CanadianForex successfully late in Now I would like to use them again, but after booking the deal it turns out I cannot electronically transfer money to them from my TD account.

Besides the additional wire fee, having to jump through hoops like this kind of defeats the purpose for me, mostly convenience of using CanadianForex, unfortunately.

Is Canadian Forex a reputable company to wire Australian $$ - British Columbia Forum - TripAdvisor

I gave them preauthorized access to my RBC US account. No transfer fees either in or out. For some reason, banks lately have improved their services and fees for overseas transfers probably competing with Western Union, postal wires and the like but they are still in the last century in regards to transfers within North America.

We have opened an account with them as well. The bank charges outrages fees and with a straight face they say: It took the bank over 1 hour to fill in the new forms they were not familiar with, so the bank manager had to be called to the rescue and they kept the bank open for an extra 20 minutes to complete the wire transfer.

If they would have given us a better exchange rate on such a large amount, they would have made money with us, but it is hard to imagine they did not loose money with the wire transfer.

The Forex allows you to transfer to numerous currencies, and I do not know a simpler way. We only found out about it recently, but I feel it will catch on a lot more. If you ask, CanadianForex will make up for it in the exchange rate they quote you. You just have to tell them you are using TD and incurred extra fees. Just found this while looking for reviews for CanadianForex Ltd.

It appears they are in good standing with the Better Business Bureau. Music to my ears as since I am considering using them. Hoep everyone finds this useful.

Only issue is time: Just tried them based on this review and other web searches — thanks! It was really easy to set up the account, make CanadianForex a payee in my bank bills, and the transaction took no longer for the money to be sent as it would have if I tromped down to my credit union. Less hassle, less cost, friendly staff — all make this my new service to wire money from Canada to the US. Two issues with CdnForex: Just for testing I decided to give Knightsbridge a try.

They are way better than CdnForex in these 2 aspects, but they introduce 2 new issues: I used them after a recommendation from my aunt. Sent some money back home to Bristol. My funds arrived in two days. They had the best exchange rate of all the other FOREX services I compared.

I really appreciate all the comments as I am talking to CanadianForex right now.

I am definitely giving them a try. Never mind the fees. I know this is somewhat off topic but I was wondering which blog platform are you using for this site? I used Canadian Forex for a Money transfer into Mexico. The transfer had to be for a specific amount. By the time it got to the Mexican Bank the funds were depleted by the amount of fees the intermediate Bank charged. I have no Idea what these fees are so have no Idea how much was deposited into the Mexican Bank.

The recieving bank in Mexico says they have no record of a deposit for the amount stated on the transfer information that Canadian Forex gave me to track the transaction which is for the original amount.

The Mexican Bank does nothing to figure out what the intermediate Bank charged and Canadian Forex has done even less. The money is in someones account not doing anything for me. Until Canadian Forex can give me the exact amount transferred into the recieving account I find their service very risky. What was the difference in percentage between the amount Canadian Forex gave you in the begging and the amount you finally got in the Mexican Bank account?

I want to update on my previous comment and mention my experience with CanadianForex.

I opened an account with them this month May and made two transfers from ScotiaBank Canada to Scotiabank Mexico:. Booked on website, debited from my account. There was no commission as they gave me 50 free trades. Booked by phone, went to my bank and asked a wire trasnfer to them. No commission as it was more than 10K. And so, on for the next ones. Cannot debit 25K the first time and 50K, the next day. It need to wait until the 25K funds are cleared like 3 business days.

I know because I had done wire transfers using Western Union online and they arrived complete. There are no Electronic Funds Transfers like in Western Union online. Better than Western Union online around 0. I called like 4 times and everyone was friendly, with clear English I guess they are native English speakers from Toronto or someone that speaks very good and they answered all my questions.

First time using it. It looks that this is the way wire transfers work in America. What they told me is which bank was sending the wire transfer Bank of New York. What could be better: The second time I did get the emails. I tried Cdnforex, knightsbridge and xe. All are professional, accurate and reliable. Never had a single cent getting lost or delayed. Hi I use canforex every two week to transfer my salary back to Canada. Your email address will not be published. Notify me of follow-up comments by email.

Notify me of new posts by email. I'm Dan Misener, a podcast producer and technology columnist. My real-life experience using CanadianForex Posted by Dan Misener on January 21, Bank wire transfers suck. They suck in at least three ways: Setup I set up our CanadianForex account while we were still in Toronto.

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Exchange Rate I ordered Euros on January 11, Customer service I telephoned CanadianForex a few times — once to confirm that my French banking details were set up correctly, and another time to confirm that there would be no intermediary bank involved.

The rest of my dealings with CanadianForex were entirely online, and very straightforward. Timing From start to finish, the transfer took a few days. Overall CanadianForex advertises itself as a cheaper alternative to wire transfers, and in my lone experience, it is.

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About Dan I'm Dan Misener, a podcast producer and technology columnist.