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CAD -> GBP

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.
Reply to
invalid
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.
Reply to
David Woolley

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.
Reply to
invalid

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.
Reply to
Chris in Makati
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
Reply to
Sheila Page

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