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I'm transferring to a "Bank of America N.A." London (BOFAGB22) account via "Bank of America N.A." New York (BOFAUS3N). If I do this as a SWIFT transfer, will it count as a domestic or international wire for the fees? Is there another way to do the transfer (using Pop money?) with lower fees, taking advantage of the New York "intermediary" bank? No routing number has been provided, just the SWIFT/IBAN/account numbers.
August 13, 2015 03:59:00 PM
2 people recommended this |
In reply to Tom, Philadelphia
Hey Tom, thanks for joining us here today. We'd be happy to clarify the two for you.
When sending a wire transfer to an account located within the United States; that is considered a domestic wire transfer. However, if you are initiating a wire transfer to an account located outside the U.S. that will be considered an International wire transfer. Please note, whether or not an intermediate bank is used for an international wire transfer, it would still be considered an international wire if that is where it is initiating or ending. We invite you to visit http://bit.ly/1cTejgt to view our fee schedule.
While sending a domestic or international wire transfer must be initiated at a TD Store location, you may be able to use the Person-to-Person payment feature via Online Banking to send funds domestically. Please understand that at this time, this feature is not available to send funds internationally.
To use Person-to-Person payments to send funds domestically, you will be able to send money via text, email or by creating a contact and even set it up as a recurring transfer. We invite you to check out http://bit.ly/1cz3aim for all of the exciting details. To use this feature, you will need to be logged in to Online Banking from the main website. If you are not enrolled in Online Banking, please click here: http://bit.ly/1lU2qfY. Please have your account number, debit card number and Social Security number available.
Once you have logged into your Online Banking, select the “Person-to-Person” tab to enroll for this specific feature (The “Person-to-Person” tab should show at the top of your page after logging into your TD Bank Online Banking. As long as you have a US address on file, you should be able to send funds using this option to another US account). You will then be asked to accept a user agreement, review the fee schedule and confirm your email and phone number. A text and email code will be sent to the mobile number and the email address we have on file for you. Next, we will request you to submit both codes for verification to complete the enrollment process. Once the enrollment is complete, you’ll be ready to send the payment which the other person will receive in one business day or three business days as per your selection. The fee for this option could also be found here: http://bit.ly/1cTejgt.
This feature does come with limits on the amount you can send or receive. For the information on the payment methods and amounts, please check out this link: http://bit.ly/1pADlWD (Pg 3. section1.16). To locate your current individual limits please follow these steps:
· Log into your online banking
- Click on the Person-to-Person Payments tab.
· Select the account in which you are sending the funds from
· Type in the person’s name, email or mobile number you are sending the funds to
· Type in the amount you’re trying to send
· Select the send date
· Click continue
· Complete the pop-up to add a new contact
· Click save
· Click on the info button (question mark) next to the amount box
If you need assistance, please do not hesitate to connect with us 24/7 at 888-751-9000.
We hope this helps and please enjoy your day.
Colleen B, Mount Laurel
August 13, 2015 03:59:33 PM