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TD Canada Trust International Transfers

This financial institution is a member of the TD Bank Group and specialises in providing personal and small business banking for customers in Canada. In this review we will be assessing whether it is a good idea for users to send money overseas with this bank and what is the TD Canada trust exchange rate.

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About TD Canada Trust

TD Canada Trust is the name given to the commercial banking arm of Toronto-Dominion Bank in Canada. Not to be confused with TD Bank, this financial institution operates a countrywide network that serves over 13 million Canadian customers, through a range of financial services and solutions including international money transfers and foreign currency exchange services in Canada. TD Canada Trust is one of the nation’s Big Five banks, and in July 2021, TD Bank Group declared $1.7 trillion CAD in total assets.

As well as traditional personal banking products, a large part of TD Canada Trust services focuses on business banking products. These include Small Business Banking, Mid-market Commercial Banking, Specialised Commercial Banking and TD Auto Finance Canada.

In addition to 1,100 branches and 2,200 “TD Green Machine” ATMs across the country, TD Canada Trust supports online financial services accessible via their EasyWeb online banking platform, and TD Canada mobile app

TD Canada Trust is a secure, supportive and widely accessible banking option for Canadian customers, but we will be investigating the finer details of their international transfers to see if it is a viable remittance provider. 

Can I use TD Canada Trust for international bank transfers? 

Yes, through TD Global Transfer customers can choose from the following three international bank transfer options:

  • Send a Western Union® Money Transfer for cash pick-up 
  • Send a TD Global Bank Transfer from your eligible TD Canadian chequing or savings account to your recipient’s bank account 
  • Send an international Visa Direct transfer to your recipient’s eligible Visa Card

Other ways to send money with TD Canada Trust

As well as multiple types of international transfer options, customers can send domestic wire transfers and Interac e-transfers. For more information about e-transfers read our guide on the subject.

TD Canada Trust exchange rates and fees

Like many banks, when customers want to make an international bank transfer, they should check the exchange rates for foreign currency and the potential bank transfer fees included. Customers who bank with TD Canada Trust can enjoy maximum transparency when it comes to foreign currency exchange rates, transfer fees and other costs.

In this section we will outline:

  • TD Canada Trust exchange rate margins
  • TD Canada Trust fees

TD Canada Trust exchange rates

The most popular currency pairings requested by TD Canada Trust customers are: 

  • EUR to CAD
  • CAD to USD 
  • CAD to HKD

The exchange rate margin TD Canada Trust and other banks charge for converting foreign currencies is referred to as a mark-up.

According to our research, these major currency pairings incur an average mark-up of 3% above the mid-market rate. This is a substantial foreign currency exchange spread and for exotic currencies less commonly traded, the average mark-up can amount to 6%. 

You can always check the TD Canada Trust exchange rates before making an international money transfer. Along with its Foreign Exchange Currency Converter tool, the bank also regularly publishes up-to-date foreign currency exchange rates via the Today’s Rates page of the TD Canada Trust website. 

TD Canada Trust transfer fees

There are some fees applied apart from the exchange rates. The fee structure applied to TD Canada Trust international transfers is different for each option:

  • Western Union® Money Transfers: TD does not charge any form of transfer fee for this service, but Western Union charges their own fees and uses their own foreign exchange rates. Find out more about what to expect from Western Union Money Transfers here
  • TD Global Bank Transfers: The fees incurred for this service will depend on the chosen currency, destination country and transfer amount; fees will not exceed a maximum of $25 per transfer
  • Visa Direct Transfers: As with TD Global Bank Transfers, fees incurred for this service will depend on transfer details; domestic Visa Direct payments will cost $1.50 per transfer

Additional costs

All costs, including TD Canada Trust exchange rates, will be totaled and presented in the final estimate provided by TD Canada Trust, before payment is submitted. 

How do TD Canada Trust transfer fees compare to using a money transfer provider?

Although the TD Canada Trust foreign currency exchange rates and transfer fees vary depending on the chosen transfer option, considering the high exchange rate mark-ups applied to foreign currency, the overall cost of a TD Canada Trust international transfer appears to be a great deal steeper than what money transfer operators can offer. Read our guide on international bank transfer fees to learn about how to save money.

TD Canada Trust pros and cons

So far we have touched on the overall cost and different types of TD Canada Trust international transfers, but in this section we will be presenting a full list of the advantages and disadvantages of this bank service.

Flexible transfer options: TD Canada Trust gives customers three different transfer options which is more flexible than most banks, who typically offer wire transfers only
Part of a bigger banking company: TD Bank Group is one of the biggest North American banking corporations, making this a trustworthy, secure option
Easy to use online banking services: TD Canada Trust makes it easy for customers to set up transfers via the website or mobile app
Excellent customer service: As well as providing multiple customer support channels, TD Canada Trust bank branches are open longer hours than competitors
Unclear fee structure: There is a lack of transparency when it comes to TD Canada Trust fees, but customers are likely to incur up to $25 in fees per transfer
Uncompetitive exchange rates: TD Canada Trust applies mark-ups ranging between 3 – 6% on foreign exchange
Limited currencies: Customers can only choose from 24 sending currencies according to the Foreign Exchange Currency Converter tool

Answers to key questions about TD Canada Trust 

Next we will address the hard hitting questions associated with TD Canada Trust’s international coverage. 

Can I open a TD Canada Trust account in any country?

As the Canadian retail division of TD Bank Group, this bank is only available to customers in Canada. However, the bank facilitates transfers to and from a variety of different places: for the full list of countries covered by TD, click here.

Does TD Canada Trust have an app?

Launched in 2010, the TD Canada mobile app is available for free download from the Google Play or App Store. The app promises to provide “quick, easy, secure access to your TD chequing, savings, credit, and investment accounts.” Customers can use the app to access all TD Global Transfer services. The app has been given a respectable 4.5 out of 5 by iOS users on the App Store, and 4.3 out of 5 on the Google Play Store.

Are there transfer limits?

Yes, as with other TD Global Transfer areas, these differ according to the chosen transfer option:

  • Western Union® Money Transfers: maximum sending limit of $999.99 per transfer every 24 hours
  • TD Global Bank Transfers: maximum sending limit of $6500 per transfer every 24 hours
  • Visa Direct Transfers: maximum sending limit of $2,500 per transfer every 24 hours

How long do transfers take with TD Canada Trust?

Delivery windows vary depending on the type of transfer arranged with TD Canada Trust. 

  • Western Union® Money Transfers transaction time: within 2 – 4 hours
  • TD Global Bank Transfers transaction time: within 1-5 business days
  • Visa Direct Transfers transaction time: within 24 – 48 hours 

Can I use a TD Canada Trust debit card when travelling abroad? 

Yes, these debit cards can be used when travelling overseas and we will be accepted wherever Visa/Visa debit is accepted. Third party ATM charges may apply for withdrawals. 

Does TD Canada Trust offer foreign currency exchange services?

Yes, TD Canada Trust offers foreign currency exchange services for international money transfers. However, you should check the TD Canada Trust foreign currency exchange rates and fees.

How to send and receive money with TD Canada Trust

In a bid to provide clear and concise instructions about how to set up a TD Global Bank Transfer, we have created this step-by-step guide. 

Sending money

Step 1. Register for TD Global Transfer in-person at your local branch or via the mobile app

Step 2. Select your destination country and enter the transfer amount

Step 3. Choose one of the available transfer methods (select “Send to Account” to initiate a TD Global Bank Transfer) 

Step 4. Confirm your personal information, enter your recipient’s details (for TD Global Bank Transfer you will be required to enter the recipient’s bank account information) and confirm the transfer as complete

Step 5. Once confirmed, use the transaction history on your online banking or mobile app to track the status of your transfer

Receiving money

In order to receive an international transfer, provide the sender with your full name (as on your account), residential address in Canada and TD account number. 

Additional information

For international transfers you may also be asked for the TD Canada Trust SWIFT code which is TDOMCATTTOR.

What customer support options are available?

Customers can contact customer services by booking an in-person appointment at a local branch, calling one of the specific customer service phone lines, completing a feedback form or reviewing the advice posted on the online Help Centre

As one of the biggest banking groups in North America, TD makes it a priority to provide a widely accessible, high standard of customer support. For this reason, TD Canada Trust branches operate longer opening hours than other major banks: most locations are open from 8 am – 6 pm Monday to Wednesday, 8 am – 8 pm on Thursday and Friday, and 8 – 4 on Saturdays. Over 300 branches also operate 11 – 4 on Sundays, but remain closed for statutory holidays. 

In addition to this, TD provides customer service in over 200 different languages, accessible via phone; these include English, French, Mandarin and Cantonese.


TD Canada Trust has many great strengths: high customer service standards, diverse banking and payment options, a full-service mobile app and online banking platform. However, when it comes to sending and receiving money internationally, TD Canada Trust simply does not live up to the same standards set by leading money transfer operators

Customers who choose to send money overseas with a specialist company like PaySend or WorldRemit, will get more for their money. This is because these companies offer more competitive exchange rates, low (or zero) transfer fees and speedy transfer windows. Find out which company can transfer your money from A to B quicker and cheaper, by using our comparison tool today.

April Summers

April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.