Business Making payments

Your guide to business wire transfers at TD Bank

Piyush Singh

05.05.25

Read time 3 minutes

A TD Canada Trust® wire transfer is a simple way to send money to businesses across the world. But how do you send a wire transfer with TD Bank? How much do TD transfers cost? Let’s take a look at everything you need to know!

We’ll also look at Wise – your handy transfer alternative to send and receive your money in freedom. Let’s dive in!

How to send a wire transfer with TD Canada Trust

You can use TD Bank’s Web Business Banking to send online wire transfers.

Method	Availability	Process
Online	Available for small businesses with TD Web Business Banking²	Log in to TD online banking to send or receive your wire transfer²
In-branch	1060 branches in Canada³	Go into your local branch – the teller will talk you through the process

Wise Business: A smarter alternative for international transfers

Wise Business is your low-fee international transfer alternative. Send and receive your money to over 80 countries – all from the palm of your hand. International wire transfers often come with hefty fees and long waiting times. At Wise, you can send money for just 0.48% per transfer.*

You’ll always pay the mid-market exchange rate for international transfers. This is the standard rate for currency conversion, with no added markups or fees.

In comparison, you’ll pay up to 50 CAD per TD Canada Trust wire transfer.⁴ You’ll also pay a retail exchange rate for international payments. This may include a profit margin – and all of these costs can really add up!

Your Wise transfer could reach your recipient in just a few seconds – and you can hold money in over 40 currencies at once. Whether you’re paying a bill in the EU or sending a payment to Japan, Wise has got you covered!

Did you know? It's free to open a Wise business account, and you pay only a one-time fee of 55 CAD to get local account details and receive money in over 20 currencies. Curious to know more? Check out our pricing.

Get your Wise Business Account
in a few clicks >>>

How long do TD Bank’s wire transfers take?

TD wire transfers take roughly 3 to 5 business days to be processed, but this may depend on when and how you make your transfer. Let’s take a closer look.

Destination	Estimated time	Notes
Within Canada	3 to 5 days	Domestic transfers are usually quicker than international wires
US transfers	3 to 5 days
International	3 to 5 days	International transfers can take longer to reach your recipient, especially if they involve currency conversion

Fees for wire transfers at TD Bank

You’ll typically pay a fee to send and receive wire transfers from your bank account. Let’s take a look at how much TD Bank wire transfers cost.

Transfer type	Fee⁴
Outgoing wire transfers	50 CAD
Incoming wire transfers	17.50 CAD
Wire investigation for non-bank errors	25 CAD onwards, hourly rate is 40 CAD
Intermediary fees	Some intermediary banks may convert foreign currency payments with added markups to the exchange rate. It’s unlikely this conversion will take place at the mid-market exchange rate

Exchange rates for TD Canada Trust wire transfers

If you want to send or receive an international transfer using your Canadian TD Bank account, the provider will convert your money into the right currency.⁵

Many banks add a markup to the standard rate for currency conversion – and that can mean you end up spending more than expected.

Let’s take a closer look at how much you’ll pay to make payments with TD Bank and Wise.

The true cost of sending CAD to EUR

Feature	TD Bank	Wise
Exchange rate	The bank uses a retail exchange rate. This isn’t the standard rate – and it may fluctuate depending on when you send your transfer⁴	Mid-market exchange rate. This is the only fair rate for currency conversion
Fees	This will likely vary, depending on intermediary banks involved⁴	From 0.48% per transfer^*
Transfer speed	3 to 5 business days	Many Wise transfers arrive in seconds, but currency conversion can take up to 2 days

TD wire transfer limits

The TD Bank website doesn’t mention wire transfer limits. Speak to your local branch for more information about how much you can send at once.

Can you cancel or get a refund on a TD Bank wire transfer?

It’s not always possible to cancel a wire transfer once you’ve sent it. You’ll need to speak to your TD Canada Trust teller for more information.

It might help to get in touch with TD Bank to find out more about the bank’s cancellation policy and refund system.

Final thoughts on wire transfers with TD Bank

You can wire money in Canada or further afield, but you may want to compare costs before choosing a provider.

Unlike money transfer platforms like Wise, TD Bank charges wire transfer fees and exchange rate markups for international payments. These costs can really add up!

To explore your low-fee global spending options, check out Wise.

Sources

TD Bank - How do I send a wire transfer?
TD Bank - Small business online banking
TD Bank - Corporate information
TD Bank - TD Canada Trust - list of services and fees

Sources verified on 5 May 2025.

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.