TD Bank Wire Transfer: Fee and Currency Exchange
If you have an account with TD Bank and need to send or receive a wire transfer, you may be wondering how to get started - and how much you need to pay.
This guide walks through all you need to know. We’ll also take a look at TransferWise as a cheaper, more convenient way to send international payments online.
TD Bank wire transfer fee
The fees you pay for a wire transfer with TD Bank will depend on the account you hold, and the type of transaction you want to make. Here are the standard TD Bank wire transfer fees:
|Wire type||TD Bank fee|
|Incoming wire - either international or domestic||USD15|
|Outgoing domestic wire||USD30|
|Outgoing international wire||USD50 + potential SWIFT charges + TD Bank currency exchange rate fee if sent in a foreign currency|
Incoming wire charges are waived for the following account types:
- TD Beyond Checking
- TD Beyond Savings
- TD Private Tiered Checking
- TD Private Tiered Savings
- Individual Development Products
- Family Development Products
If you have a TD Beyond Checking or TD Private Tiered Checking account you may also benefit from a fixed number of free outgoing wire transfers per billing cycle.
However, even with this perk you might find you pay SWIFT fees, or a TD Bank currency exchange rate fee if you’re sending a payment overseas. Check your account terms for more details - and read on for more about SWIFT fees and exchange rate markups.
TransferWise: A quick and transparent alternative
If you need to make a payment overseas, sending directly from your bank isn’t the only option. You could choose an online provider like TransferWise for a more convenient, cheaper service.
TransferWise international payments use the mid-market exchange rate with no markups and no hidden fees. Not only is the overall cost is lower than using many traditional banks - you’ll also be able to get your money on its way online or using your mobile device, with no need to stand in line at your local bank branch.
Let’s take a look at a cost example: Sending USD1,000 to the UK:
|Provider||Fees||Exchange rate used||Total cost|
|TD Bank||USD50 + potential SWIFT fees||Mid-market rate + TD currency exchange fee||USD50 + SWIFT fees + exchange rate markup|
TransferWise uses bank-level security to keep your money safe, and is already helping millions of people worldwide cut their international payment and currency exchange costs. See if you can save with TransferWise today.
TD Bank currency exchange fee
You’ll notice above that there are a couple of potential additional fees when sending money with TD Bank. One to look out for is the currency exchange fee TD Bank adds, and which banks often tag onto the exchange rate used for international wire payments.
You’ll be able to find the exchange rate TD Bank will use for your transfer when you visit your local branch. Make sure you compare the rate you’re given with the mid-market exchange rate for your currency, which you can find on Google. If the rates are different, it’s probably because the bank has added a markup or margin to the rate they offer customers. This is an extra fee, and pushes up the prices overall.
TD Bank and SWIFT fees
It also pays to know a bit about SWIFT fees before you make an international payment with your normal bank.
Traditional banks typically process international wires using the SWIFT network. This involves a series of partner banks passing a payment along a chain until it reaches the right account. It’s a reliable - but often slow - system, and there may be hidden costs as each bank in the chain can deduct a fee when handling the payment. Choose a modern alternative like TransferWise to skip this issue altogether.
If you need the SWIFT code for TD bank, you can search it using these dedicated SWIFT tools.
How to make an international transfer with TD Bank?
To arrange an international wire payment with TD Bank you’ll need to call into your local bank branch and set up the wire in person.
TD Bank routing number
If someone is sending you a payment to your TD Bank account you’ll need to give them the routing number so the money arrives safely and without unnecessary delays.
TD Bank uses different routing numbers for different branches, so the number you need may depend on which branch holds your account.
You can find out the number you need from your online banking, by visiting the TD Bank website, or by using this smart US routing number search tool.
Wire transfer with TD Bank: How long does it take?
The length of time it takes to complete your wire transfer will depend on where you’re sending money to. Domestic wires are typically faster than international payments, arriving in around 24 hours. However, international payments can take 2 - 5 business days to arrive depending on where they’re headed.
TD Bank: How to receive an international wire transfer?
If someone is sending you an international wire transfer to your TD Bank account, you need to give them the following information:
- The bank name - TD Bank, Wilmington, Delaware
- ABA number - 031101266
- Your full name as shown on your account
- Your account number
Don’t forget you may also need to pay a fee for receiving the payment, depending on the account type you hold.
TD Bank contact info
To get help with your TD Bank wire payment you can get in touch with the customer service team in any of the following ways:
- Call in for help - find your local branch using the branch locator tool
- Phone TD Bank on 1-888-751-9000
- Get in touch using FaceBook Messenger or Twitter
If you need to send or receive an international wire transfer, using your own bank isn’t always the easiest or cheapest option. You might be able to arrange your international payment online and for less using TransferWise.
Check out the costs and exchange rates available today, and join the 8 million people who already save money on international payments with TransferWise.
Disclaimer: This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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