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I am going to pay a travel agency in Namibia, Africa for services. I have a TD US$ account I will use to pay them. They have given me their business name, branch code and account # IBAN), and their bank's address and Swift code. They have also given me a list of correspondent banks around the world (that their bank presumably uses?) and said that I MUST choose one of them (Bank of Montreal is their Canadian Correspondent bank). They provide the Swift code for each correspondent bank (BOFMCAM2 for BMO in this case) and an account number at each correspondent bank. They also specify that I must include their business name and IBAN as beneficiary information on the wire transfer.
My TD branch is helping me with the wire transfer, but the form they are using does not have any fields that match the above, and they seem unsure of how to fill it in. I don't want to approve the wire until I'm certain all of the information is correct and matches what the travel agency says I must do to avoid losing the money or having it held up.
Currently my TD branch has me and my account as the "Sending Customer". That seems to make sense. They have put the travel agency's name and account and banking information in the "Receiving Customer" section of the wire transfer. Is that the same as "Beneficiary"? Last, they tell me there is no "Correspondent Bank" fields to fill in. There is a "Settlement Bank" field, and they've duplicated the travel agency's banking information there. I don't know if that is correct.
So, to summarize:
- where should we fill in the "Beneficiary" information (travel agency's account name, bank, bank's Swift, branch code, account #, IBAN)
- where should we fill in the "Correspondent Bank" information (Bank of Montreal, BOFMCAM2, account #)
thank-you very much for your help,
May 23, 2016 08:21:12 AM
In reply to Paul, Rothesay
Welcome to TD Helps, Paul. We'd be glad to help.
Please know that in order to send a wire transfer with TD Bank, you would need to visit a TD Store. As you mentioned that your TD Store is assisting you with the wire, we recommend reaching out to them for clarification. You are able to take a look at their contact information here: http://go.td.com/1f9DSJR.
Please know that we would like to assist you directly however, TD Helps is considered an unsecured forum and we do not have access to your account/personal information.
We hope to hear from you soon, Paul and have a good day.
Megan K, Mount Laurel
May 23, 2016 08:21:48 AM