TD Bank offers three main ways to send money: wire transfer through a branch or online, person-to-person transfer through their mobile app, and bill pay for regular payments
The method you choose depends on who you're sending money to, how fast you need it to arrive, and whether you're sending to someone you know or a business. Wire transfers are fastest for large amounts going to another bank account. TD's person-to-person service works best for sending money to friends or family. Bill pay is designed for paying companies and organizations on a schedule.
Each method has different fees, speed, and requirements. Understanding the differences helps you pick the right one for your situation and avoid unexpected charges.
Key Takeaways
- Wire transfers through TD Bank can be sent same-day but cost $15 to $30 depending on whether the money stays within the US or goes internationally.
- TD's person-to-person transfer through their mobile app or online banking is free for transfers between TD customers and typically arrives within one business day.
- Bill pay through TD is free and works for paying companies, utilities, and organizations, though it takes three to five business days to arrive.
- You will need the recipient's bank account number and routing number for wire transfers, or their email or phone number for person-to-person transfers.
- Wire transfers cannot be reversed once sent, so confirm all details before submitting.
Wire transfers: fastest option for large amounts
A wire transfer moves money directly from your TD Bank account to another bank account, usually arriving the same business day. This is the fastest way to send money, especially for amounts over $1,000 or when the recipient banks at a different institution.
Wire transfers cost $15 for domestic transfers (within the US) and $30 to $45 for international transfers, depending on the destination country. You can start a wire transfer online through TD's website or mobile app, by phone, or in person at a branch. If you use online or mobile banking, the transfer processes immediately during business hours. Transfers requested after 5 p.m. Eastern Time or on weekends are processed the next business day.
You will need the recipient's full name, bank account number, and the routing number of their bank. For international transfers, you may also need their SWIFT code or IBAN. Double-check all details before confirming—wire transfers cannot be reversed once sent, and if information is wrong, the money may be sent to the wrong account or held up while the receiving bank investigates.
Person-to-person transfers: free and simple for people you know
TD's person-to-person transfer service lets you send money to friends and family through their mobile app or online banking. If both people have TD Bank accounts, the transfer is free and arrives within one business day, often faster.
You can send money to someone using their email address or phone number registered with TD Bank. The recipient gets a notification and can accept the money into their TD account. If the recipient doesn't have a TD account, they can still receive the money, but it may take longer and may involve fees depending on how they choose to receive it.
Person-to-person transfers work well for splitting rent, paying back a friend, or sending money to family members who also bank with TD. The limits vary by account type, but most checking accounts allow transfers up to $2,000 per transaction and $5,000 per day.
Bill pay: free option for paying companies and organizations
TD's bill pay service lets you pay companies, utilities, government agencies, and other organizations directly from your checking account. It is free and works through your online banking or mobile app.
Bill pay takes three to five business days to arrive, so it is not for urgent payments. You set up a payee (the company you want to pay), enter the amount, and choose a payment date. You can set up recurring payments for bills that stay the same each month, like insurance or rent. TD will mail a check or send an electronic payment on the date you choose.
Bill pay works for almost any company that accepts payments—utilities, credit card companies, landlords, contractors, and government agencies. You will need the payee's mailing address or account number, depending on how they receive payments. If you are not sure whether a company accepts bill pay, you can search for them in TD's payee directory when you set up the payment.
What information you need before sending money
The details you need depend on the type of transfer. For a wire transfer, gather the recipient's full legal name, bank account number, and the routing number of their bank. If sending internationally, also get their SWIFT code or IBAN. If you do not have this information, ask the recipient to provide it or contact their bank directly.
For person-to-person transfers, you only need the recipient's email address or phone number if they have a TD account. For bill pay, you need the company's name and mailing address, or their account number if they accept electronic payments.
Having the correct information before you start prevents delays and mistakes. If a wire transfer is sent to the wrong account, recovering the money is difficult and may not be possible.
Fees and limits for each transfer method
| Transfer Type | Fee | Speed | Typical Limit |
|---|---|---|---|
| Domestic wire transfer | $15 | Same business day | No set limit; bank may review large transfers |
| International wire transfer | $30–$45 | 1–3 business days | No set limit; bank may review large transfers |
| Person-to-person (TD to TD) | Free | 1 business day or faster | $2,000 per transaction; $5,000 per day |
| Bill pay | Free | 3–5 business days | Varies by payee; typically $10,000 per transaction |
Limits may vary based on your account type and history with TD Bank. If you regularly send large amounts, contact TD to discuss your options—some accounts have higher limits, and the bank may waive fees for frequent transfers.
How to send a wire transfer step by step
Online or mobile app: Log into your TD Bank account, select "Send Money" or "Wire Transfer," enter the recipient's name and bank details, confirm the amount and fee, and submit. The transfer processes immediately if sent before 5 p.m. Eastern Time on a business day.
By phone: Call TD Bank customer service at the number on the back of your debit card. Have the recipient's information ready. A representative will walk you through the process and confirm details before sending.
In person at a branch: Bring your ID and the recipient's bank information. A teller will help you complete the wire transfer form and process the payment. This method is useful if you have questions or need to send a large amount.
After you submit a wire transfer, TD will give you a confirmation number. Save this number in case you need to track the transfer or contact the bank later. The recipient's bank will receive the money and deposit it into their account, usually within the same business day for domestic transfers.
Frequently Asked Questions
Can I cancel a wire transfer after I send it?
Once a wire transfer is sent, it cannot be reversed. If you realize you made a mistake immediately after sending, contact TD Bank right away—they may be able to stop it if it has not yet been processed. For transfers already sent, you would need to contact the recipient's bank and ask them to return the funds, which they are not required to do.
How long does an international wire transfer take?
International wire transfers typically take one to three business days, depending on the destination country and the receiving bank's processing time. Some countries are faster than others. TD will provide an estimated delivery date when you send the transfer.
What happens if I send money to the wrong account number?
If the account number is wrong, the money may be deposited into someone else's account or rejected by the receiving bank. Contact TD Bank immediately with your confirmation number. They can attempt to recover the funds, but success depends on whether the receiving bank will cooperate and whether the account holder agrees to return the money.
Is person-to-person transfer safe?
Person-to-person transfers between TD customers are secure because both accounts are verified through TD's system. Only send money to people you know and trust. Once money is transferred and accepted, you cannot reverse it, so confirm the recipient's information before sending.
Can I use bill pay to send money to a person?
Bill pay is designed for paying companies and organizations, not individuals. For sending money to a person, use TD's person-to-person transfer service or a wire transfer instead.