Major bank TD reveals its new money transfer product


Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • TD said that it would offer its customers a new money transfer product that brings together services into one convenient dashboard – something that a senior figure at its partner Visa called a “smoother experience”.
  • Visa will offer a range of services, including its Visa Direct platform, which is used to enhance the online money transfer experience.
  • Other TD services brought under the umbrella of this new offer will include the ‘Cash Pick-up’ option, which is designed to allow customers to send money for pick-up at outlets of the Western Union brand.

The major bank TD has announced that it will offer enhanced services for customers of its TD Global Transfer product in Canada.

TD said that the service, which is currently offered on both the TD Canada mobile application and on EasyWeb, would be boosted in terms of cross-border payments functionality.

The new service will be an integrated control panel function that brings all of the options together in one harmonised location.

One service that personal banking customers will be able to experience through the new dashboard is the ‘Send to Account’ option, which allows customers to transfer cash to a bank account located in one of more than 180 nations around the world.

The ‘Cash Pick-up’ service, meanwhile, will permit Canadian customers to send money abroad to be picked up in cash.

This will be delivered via Western Union outlets across the world.

The other option on offer to customers will involve Visa cards.

With this option, customers will be able to make global transfers to credit or debit cards powered by the global financial giant.

This will in turn be enabled via the Visa Direct function, which is a so-called ‘push payments’ service that is available in many countries around the world.

According to a senior figure at Visa, the new arrangement will mean improved efficiency for users – as well as a better experience.

Brian Weiner, who serves as the vice president and head of product at Visa Canada, said that both individual people and family groups would benefit.

“We’re pleased to continue working with TD to help bring efficiencies to the process of sending and receiving money and provide a smoother experience for individuals and families,” he said.

He emphasised that there are “billions” of Visa cards and services in operation around the world.

“Through Visa Direct, Visa is empowering customers to send, receive and access money between billions of cards and accounts worldwide,” he said.

For TD, Mushtak Najarali, who is senior vice president for Money in Solutions, continued the theme of empowerment.

“We’re thrilled to be able to empower our customers with the ability to securely send money internationally to family and friends in a way that's easy for them and convenient for their recipient,” he said.

TD is just one of many providers across the world that offers online money transfer products and services.

If you would like to find out about the best options on the market in this regard, just head to this page

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