On the other hand, if we were to assume that the transaction fee was the full C$25, your total fees would soar to $29.88 (14.94% of your transfer amount), leaving your family member with ₱6,309. If we were to assume that this fee was waived for your transfer, your total fees would be C$5.57 (2.79% of your transfer amount), and your family member would receive ₱7,210. Furthermore, you'd also be charged the undisclosed transaction fee before the money leaves your account. Using TD, the funds would immediately be subject to a 2.79% (C$5.57) exchange rate margin fee. Suppose you were to send C$200 to a family member in the Philippines at the time of writing, for example. The combination of transaction fees and exchange rate margins leaves TD a costly bank with which to send international money transfers - especially smaller transfers. The most likely additional fee you'll encounter is a correspondent bank fee, which will typically cost you anywhere between C$10 and C$100 and could be levied without warning if your bank transfer cannot be made directly to your beneficiary's bank. Third-Party Banking Feesīesides having to pay the base fees and exchange rate margins when sending a global transfer with TD, there may still be other expenses before the final sum arrives in your beneficiary's account. The transfer fee amount is dynamic and will vary depending on the amount being sent, the recipient country and the currency of the account funding the transaction.Īs such, you can safely expect to pay a maximum of C$25 per transfer when making an international money transfer with the Toronto-Dominion Bank. TD Transfer Fee is up to $25 per transfer. Unfortunately, while TD quotes an amount of C$25 per transfer for International Bank Transfer and Visa Direct transfers, the bank isn't completely transparent regarding how this fixed fee is applied to different transfer amounts, saying only: No matter which option you pick, the first cost you'll meet while sending funds to your recipient abroad will be a fixed fee. However, if you don't have a TD account in both countries, you will do well to compare the best alternative deals on this corridor instead! In addition, there's a separate option for US to Canada bank transfers for TD Bank clients in both countries. It's helpful if you want your recipient to receive their money in cash, but it also supports bank deposits. Western Union: This lets you send money to over 200 countries and territories via Western Union.Visa Direct: This option lets you send money to a Visa card (debit, credit, or prepaid) in Canada or another country.International Bank Transfer: This is an ordinary wire transfer from your internet banking that gets routed via SWIFT.When sending money abroad with the Toronto-Dominion Bank, you'll need to use the TD Global Transfer platform, which allows you to send money to a country abroad in one of three possible ways:
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