TD Bank review

Founded in 1855 and based in Toronto, Canada, TD Bank is a high-street bank. TD Bank is authorised and regulated by OSFI, FDIC, which means customer money is safeguarded separately from company funds.

On the fee side, expect cad $30-$80 per wire transfer, but the bigger cost is usually the exchange-rate markup of 2.5% - 4% above mid-market, which is built into the rate rather than shown as a line item. Transfers run from a minimum of $1 up to $100,000 per transaction. In our own rate collection, across the 12 corridors we track for TD Bank, its exchange rate has averaged 3.53% from the mid-market rate.

Delivery speed is quoted at 2-5 business days, and the service reaches 200+ countries across 50+ currencies. You can fund a transfer by Bank Transfer, with money delivered via Bank Deposit. The mix of funding and payout options is a good guide to which corridors TD Bank handles best.

On the plus side: major canadian bank, strong us and canadian presence and easy for existing customers. That makes it a sensible choice for existing customers who value keeping the transfer inside their own bank. Worth keeping in mind: high transfer fees ($30-$80) and poor exchange rate markup (2.5%+).