Moving money from Korea to Canada (Currency Fair?)

kraggy

Hi,

I'm in Korea at the moment and will be moving to Canada at some stage this year.

Was wondering what's the best way to move money over there. Now, I won't have a Canadian bank account before I move over, and internet banking is very difficult here in Korea so moving it after I've moved from Korea to Canada is going to prove quite difficult so what's the best way to get it there?

Would it be possible to exchange it with Currency Fair a few days before I leave here, have them old it and then move it into my Canadian account a week or so later when I've opened one?

Is that how Currency Fair works?

If not, any other suggestions?

(I have an Aib account at home but obviously I don't want to move it into that, then move it over to the Canadian account as I'll be losing out on Forex 2 times instead of one)

Thanks.

Agent Smith

Change to Canadian Dollars?



How much we talking here?

kraggy

A modest few thousand. Well less than 10k.

Do currencyfair actually hold money for you for a period of time or is just instant transactions back to your own domestic bank account?

Agent Smith

less then 10k, i'd take it in Canadian Currency tbh

kraggy

What? Change it into Canadian cash and carry it with me?!

Not a chance. Too risky and I'd lose a lot on exchange rates.

Can anybody answer the Currencyfair question?

Thanks.

E30i

Hi

I've used Currencyfair a number of times and found the service and Customer Contact v professional.

I've often left an amount similar to what you are talking about in my CF account between exchanges and never had a problem.

An alternative approach I would consider is to open a CAD Account with an irish bank and move it there if you are going to be a few months between moves. PTSB and Investec are 2 of the banks I know offer CAD accounts.

Hope this helps

kraggy

Thanks E30i.

Will look into the Currency Fair option so. Hopefully it's realitively easy to sign up.