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My Mother in New York wishes to transfer money to me in Canada. My Mother has a TD Bank account in US Dollars and I have a TD Canada Trust account in Canadian Dollars. What is the least expensive way for her to transfer money to me? I don't mind if it takes a couple of days. What is the exchange rate she will receive if the transaction were to happen, for example, on December 3rd, 2014 (Bank of Canada exchange rate is USD/CAD 1.1358)? Is there a web page that I can look up todays exchange rate for such a transaction? I am familiar with ACH transferes and they usually cost $8 to $14 at other institutions. If my Mother were to transfer $1000 USD on December 3, 2014 to me, how much would I get and how much would she pay in fees? Thanks.
December 5, 2014 07:29:17 PM
In reply to Jean-Marc, Toronto
Thanks for reaching out to us, Jean-Marc. We'll be happy to assist you with a funds transfer.
Please keep in mind that if you'd like to transfer funds internationally, a transfer via wire will be needed. Via TD Bank, ACH transfers are only available domestically at this time.
If your mother would like to send an international wire to your account at TD Canada Trust, you'll want to provide her with the wiring instructions needed there. Kindly see here: http://bit.ly/1wF1jXL for a link to this information that Laura provided on our TD Helps site up north.
Your mother may also want to review additional information on sending international wires at http://bit.ly/1oowsYN. When she is ready to send the funds to you, she can visit her nearest TD Bank Store with your TDCT wire info including SWIFT code information (found on the first link above). For TD Stores nearby her area in New York, she can check out: http://bit.ly/TDStores.
Keep in mind that wire transfer fees may apply to both accounts. For the current Fee Schedule at TD Bank U.S., please see here: http://bit.ly/1cTejgt. We would also recommend checking with TD Canada Trust to obtain information regarding any additional fees for their services; feel free to reply to Laura's response above or, you're welcome to post a new question to TD Canada Trust at: http://bit.ly/1kD3iFr.
As foreign exchange rates fluctuate quickly, the rate of exchange being used will be provided to your mother when she sends the wire if the funds are sent in Canadian Dollars. If the wire is sent in US Dollars, the exchange rate used will be determined once the wire is received by TD Canada Trust.
For future reference, we'd also like to let you know that you and your mother may wish to take advantage of our Cross Border Banking Services. If you are both listed on a joint account either at TD Bank or TD Canada Trust, you'll be able to send funds using this service without any wire transfer fees. Please note that the current exchange rate would still apply. We invite you to view here: http://bit.ly/1ienPN4 for more information, or give us a call at 877-700-2913, 24/7 and we'll be happy to review all the convenient options for you.
We hope this is the information you were looking for, Jean-Marc. Please let us know how else we can help and enjoy the rest of your day.
Kristen P, Mount Laurel
December 5, 2014 07:33:01 PM
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