TD Bank Wire Transfer: How To Send Money and What Fees To Expect
Written by
Daria Uhlig
Edited by
Susan Kim
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Wire transfers are one of the fastest and safest ways to send money, which is why they’re the standard payment method for major transactions such as home and car purchases. You can send a transfer through TD Bank’s wire transfer service, using your TD bank account to fund the payment.
How To Send Wire Transfers From TD Bank
The networks TD Bank uses for wire transfers have complicated protocols for moving funds, but the process is fairly simple for TD customers.
To send a domestic or international wire transfer through TD Bank, you’ll have to visit a branch location and provide the information TD needs to get the funds to the right receiving account.
For domestic transfers, bring the following when you go:
- Receiving bank’s name, address and routing number
- Name of the receiving account
- Recipient’s name and complete mailing address
- Recipient’s bank account number
Contact TD Bank at 888-751-9000 to find out the specific information you need to send an international wire transfer. Customer service is available 24 hours a day, seven days a week.
How To Receive a Wire Transfer
If you want to receive a wire transfer to your TD Bank account, provide the sender with the following information:
- TD Bank name and Wilmington, Delaware, as the location
- Routing number 031101266
- Your name
- The number for the account you want to receive the funds
TD Bank makes wired funds available to you the same day the bank receives them.
How Much Does It Cost To Send a TD Bank Wire Transfer?
TD Bank charges a fee for incoming and outgoing wires.
- Incoming wires, domestic and international: $15
- Outgoing domestic wires: $30
- Outgoing international wires: $50
Pros and Cons of TD Bank Wire Transfers
TD Bank’s wire transfer service comes in handy when you need to send money. However, it’s not necessarily your best choice.
Pros
- TD Bank wire transfers are a secure way to send large payments.
- Sending wire transfers from your own bank could help you avoid or resolve issues with the transfer.
Cons
- You’ll have to visit a branch location to send a wire.
- TD Bank’s wire transfer fees are relatively high.
How Do Wire Transfers Work?
Wire transfers are network-based transactions consisting of messages that tell the sending and receiving banks how to withdraw money from the sender’s account at one bank and credit it to the receiver’s account at another bank.
Several networks can process these transactions. Fedwire is the one most U.S. banks use to transfer funds between other U.S. banks. Owned by the Federal Reserve Banks, the Fedwire network processes transactions immediately. There’s no waiting for physical money to arrive or for the sender’s bank to clear a cashier’s check. The messages contain all the information needed for that to happen. The transfer occurs and clears immediately when the messages reach the receiving bank.
International wire transfers work differently. Banks usually use the network operated by the Society for Worldwide Interbank Financial Telecommunication and owned by member banks. The SWIFT network lets banks transmit messages with instructions for handling the funds, but it can take a couple of days for the transfer to settle, or clear.
Alternatives to TD Bank Wire Transfers
You might have no choice but to use a wire transfer if you’re buying a home, but for smaller payments, you likely have other options.
TD Bank has several digital transfer services that let you transfer money to yourself, to another person or to a company. For example, you can transfer money between your TD Bank accounts or between your TD account and an account at another bank.
For payments between friends and family, Zelle is a free option that lets you send money to or request money from just about anyone with a U.S. bank account. TD Bank also offers bill pay, which you can use to pay any bill, even the ones you can’t manage online, such as rent.
When time is not of the essence, a cashier’s check might be a good option. Cashier’s checks come from the bank’s account, not the customer’s, so they’re essentially guaranteed to clear. Alternatively, you can purchase a money order from banks, some retail stores and any U.S. post office. Money orders are similar to checks, but they can’t bounce because you pay for them upfront.
FAQ
To summarize how to send a TD Bank wire transfer and how much it costs, here's a short list of frequently asked questions.- How do you do a wire transfer at TD Bank?
- You can visit a TD Bank branch to send a domestic or international wire transfer.
- How much does TD Bank charge for a wire transfer?
- The fee ranges from $15 for an incoming domestic or international wire transfer to $50 for an outgoing international one.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
