![]() That's easily C$100 less than you should've received. With costs like this, instead of receiving C$1,259 at today's* mid-market rate, you'd receive only around C$1,100. Compare now on Monito's real-time comparison engine to find the cheapest way to send to any TD Bank account in Canada:Īre you expecting a transfer from abroad and is the sender asking you to provide a TD Bank SWIFT/BIC code? Then you're likely going to receive less than you should because of the high international bank transfer fees and bad exchange rates that are usually applied by the senders' bank.įor example, a typical US Bank will charge between 5% and 10% in total fees for sending $1,000 from the US. Using a digital money transfer provider, not only could you up to 95% in fees compared to the bank, but you'll also be able to send money more quickly to your beneficiary's account at TD. At Monito, we analyzed the cost of sending money with around 50 major banks in eight countries around the world, and we can confidently say that we don't recommend using your bank to send money to Canada.Īdditionally, bank transfers via the SWIFT network tend to take quite long (between one and five business days on average), meaning they're not a good option if you want to make a speedy transfer.įortunately for you, much smarter alternatives exist. This is because fixed international bank transfer fees, bad exchange rates, and correspondent banking fees can stack up very quickly. If you're sending money internationally to a TD account in Canada through your local bank, the transaction will likely be much pricier than it ought to be.
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