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 sending funds to a biller you set up in advance
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've paid before. A wire transfer reaches another bank account within one business day but costs a fee. A person-to-person transfer through TD's app is free but works only if the recipient has a TD account. Bill pay is free and works for regular payments to companies, but not for sending money to individuals.
Each method requires different information and has different limits on how much you can send. Understanding what each one does — and what it costs — helps you pick the right one for your situation.
Key Takeaways
- Wire transfers through TD Bank cost money but move funds to any bank account within one business day, and you can start one at a branch or online.
- TD's person-to-person transfer through their mobile app is free but only works if the person you're sending to has a TD Bank account.
- Bill pay through TD is free for sending money to companies or organizations you set up as a payee, but cannot be used to send money to individuals.
- Wire transfers require the recipient's full name, account number, and routing number; person-to-person transfers need only their TD username or phone number.
- TD Bank wire transfer fees and daily sending limits vary by account type, so check your account details or call your branch before sending a large amount.
Wire transfer through TD Bank online or at a branch
A wire transfer sends money directly from your TD Bank account to another bank account, anywhere in the United States or internationally. The money typically arrives within one business day for domestic transfers. You can start a wire transfer online through TD Bank's website, through their mobile app, or by visiting a branch in person.
To send a wire transfer, you need the recipient's full name, account number, routing number, and the name of their bank. If you're sending money internationally, you'll also need the recipient's address and the bank's SWIFT code. TD Bank charges a fee for wire transfers — the amount depends on whether you're sending domestically or internationally and what type of account you have. Call your local TD Bank branch or log into your online account to see the exact fee before you send.
Wire transfers have daily and monthly limits that vary by account type. Some accounts allow you to send up to $10,000 per day; others may have higher or lower limits. If you need to send more than your limit allows, contact TD Bank to request a temporary increase or to split the transfer across multiple days.
Person-to-person transfer through TD's mobile app
TD Bank's person-to-person transfer feature, available through their mobile app, lets you send money free to anyone else who has a TD Bank account. The recipient receives the money in their TD account within minutes to a few hours, depending on the time of day you send it. This is the fastest and cheapest way to send money if both you and the recipient bank with TD.
To send a person-to-person transfer, open the TD Bank mobile app, select the transfer option, and enter the recipient's TD username or the phone number associated with their TD account. You then enter the amount and confirm. The recipient will see the money appear in their account without needing to do anything on their end.
Person-to-person transfers have daily limits, typically $2,000 to $5,000 depending on your account type and how long you've had your account. If you need to send more, you can make multiple transfers on different days or use a wire transfer instead.
Bill pay for sending money to companies or organizations
TD Bank's bill pay service lets you send money free to any company, utility, government agency, or organization you set up as a payee. The money is deducted from your TD account and sent to the payee's account. Bill pay is useful for regular payments like rent, insurance, or loan payments, but it cannot be used to send money to individuals.
To set up bill pay, log into your TD Bank online account or mobile app, select bill pay, and add the payee by entering their name and mailing address or account number. Once the payee is set up, you can send them money whenever you need to. The payment typically arrives within three to five business days, though some payees receive it faster.
Bill pay has no fee and no daily limit on how much you can send to a single payee. However, some payees may have their own limits on how much they can receive in a single payment, so check with them if you're sending a large amount.
Comparing the three methods side by side
| Method | Cost | Speed | Who you can send to | Daily limit |
|---|---|---|---|---|
| Wire transfer | Fee (domestic or international) | 1 business day (domestic) | Any bank account | Varies by account; typically $10,000 |
| Person-to-person transfer | Free | Minutes to hours | TD Bank account holders only | Typically $2,000–$5,000 |
| Bill pay | Free | 3–5 business days | Companies and organizations only | No limit |
What information you need before you send
The information you need depends on which method you use. For a wire transfer, gather the recipient's full name, account number, routing number, and their bank's name. If sending internationally, also collect their address and the bank's SWIFT code. You can ask the recipient for this information directly, or they may have it on a check or bank statement.
For person-to-person transfer, you need only the recipient's TD username or the phone number linked to their TD account. For bill pay, you need the payee's name and either their mailing address or your account number with them. Having this information ready before you start the transfer speeds up the process and reduces the chance of sending money to the wrong place.
Frequently Asked Questions
How long does a TD Bank wire transfer take?
Domestic wire transfers typically arrive within one business day. International wire transfers may take two to five business days depending on the receiving country and bank. Wire transfers sent after business hours or on weekends are processed the next business day.
Can I cancel a wire transfer after I send it?
If you cancel before the wire is sent, TD Bank can stop it. Once the money leaves TD's system, cancellation is difficult and may not be possible. Contact your branch or customer service when ready if you need to cancel.
What happens if I enter the wrong account number on a wire transfer?
The wire may go to the wrong account or be rejected by the receiving bank. If rejected, the money returns to your TD account within a few days. If accepted by another account, recovery is difficult. Always double-check the account number before sending.
Is there a limit to how much I can send with person-to-person transfer?
Yes. Daily limits typically range from $2,000 to $5,000 depending on your account type and how long you've had your account. You can send multiple transfers on different days to exceed the daily limit.
Do I need to set up a payee before using bill pay?
Yes. You must add the payee to your bill pay list first by entering their name and mailing address or account number. Once set up, you can send them money anytime. The setup takes a few minutes and is done only once per payee.