TD cross border banking: Your complete guide in 2025

Cross-border banking is useful for individuals and businesses who regularly send money overseas. You can pay family in the US or expand your global business.

TD Bank® offers US cross-border banking products for Canadians. You can move money between Canada and the US, but you’ll likely pay a fee for some transactions. We’ll take a closer look at TD cross-border banking, including your global account options and US transfer capabilities.

We’ll also explore how you can use Wise to facilitate your international transactions. Send money to over 140 countries from just one digital account.

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What is TD cross-border banking? TD cross-border banking for personal customers Types of accounts available Transfers and payments Fees and limits for personal accounts TD cross-border banking for business customers Account options Payments and transfers Fees and additional considerations Advantages of TD cross-border banking Limitations of TD cross-border banking Currency conversion costs Transfer fees and restrictions Limited global scope Wise as an alternative to TD cross-border banking

What is TD cross-border banking?

TD cross-border banking isn’t a singule product. It encompasses a range of accounts and services aimed at Canadians who want to manage their money in both Canadian and US dollars.

Key features of TD cross-border banking:

• Set up online TD Global Transfers to the US
• Open a range of US dollar and borderless bank accounts
• Spend in the US with your TD US Dollar Visa® card

You can use TD cross-border banking to pay bills in the US or send digital money transfers between your accounts. However, fees may apply.¹

TD cross-border banking for personal customers

TD Bank’s cross-border banking services can help you manage, and move your money in US dollars. Let’s take a closer look at your personal account options, payment types and fees.

Types of accounts available

There are a few cross-border personal accounts at TD Bank, such as:

• Borderless Plan
• US Daily Interest Chequing account
• TD Complete Checking account

The Borderless Plan works well for frequent US travellers, offering unlimited transactions and a preferred exchange rate for US dollar payments.

The Complete Checking account is also designed for people travelling to the US.¹** **You can link your personal savings account and waive your monthly account fee in some cases.²

The US Daily Interest Chequing account is best for transactions to and from the US, with interest-earning capabilities for Canadian customers.¹

You can also order a TD US Dollar Visa card to spend in the US, with no foreign currency conversion fees for purchases or bill payments in US dollars.¹

Transfers and payments

You can send a range of different transfers from your TD cross-border accounts. For example, TD Bank facilitates online transfers via EasyWeb® or the TD app.

You can also send wire payments, TD Bank to TD transfers, Visa Direct payments, and international Bank Transfers as part of TD Bank’s cross-border services.¹

You can use your US Dollar Visa card to pay by Chip and PIN or Visa PayWave. You can also enable Apple Pay®, Google Pay® or Samsung Pay® for digital payments.³

Fees and limits for personal accounts

There are some fees to consider before using TD’s cross-border services. For example, you’ll pay up to 4.95 USD per month for your Borderless Plan account.⁴

The TD Complete Checking account costs 15 USD per month.² If you want to apply for a TD US Dollar Visa card, you’ll pay an annual fee of 39 USD.³

You’ll also pay an exchange rate for some international transactions via your cross-border accounts. This rate is set by TD Bank, which may differ from the mid-market exchange rate you often see on Google.¹

Overview of TD cross-border banking personal account features

Feature	Details
Linked accounts	Borderless Plan, US Daily Interest Chequing account and TD Complete Checking account
Transfers	You can send online transfers via EasyWeb or the TD app You can also send wire payments, TD Bank to TD transfers, Visa Direct payments and International Bank Transfers
Currency conversion	TD’s exchange rate fees will depend on your account, card or transaction type – the bank sets its own rates
Monthly fees	Borderless Plan: 4.95 USD⁴ TD Complete Checking account: 15 USD – it can be waived in some cases²

TD cross-border banking for business customers

You can also use TD Bank for your international business transactions, including transfers and payments in the US. Let’s take a look at everything you need to know.

Account options

Here are some popular TD Bank accounts for business owners who regularly conduct business in the US:

• US Dollar TD Every Day Business Plan A
• US Dollar TD Every Day Business Plan B
• US Dollar TD Every Day Business Plan C
• US Dollar TD Basic Business Plan
• US Dollar TD Unlimited Business Plan
• US Dollar TD Community Plans

These accounts can make it easier to transact in US dollars.⁵ Speak to TD Bank for more information about your cross-border options.

Payments and transfers

You can use your TD Bank business account to send cross-border online transfers via EasyWeb or the TD mobile app.

You can also access cross-border business wire payments in Canadian dollars or foreign currencies.

You can exchange your Canadian dollars into a range of local currencies, including online foreign currency exchange and foreign currency bank drafts.⁶

Fees and additional considerations

Some TD business accounts come with monthly account charges. This could range from 5 USD for a US Dollar Basic Business Plan to 125 USD for a US Dollar TD Unlimited Business Plan.⁵

You’ll also pay a fee for some transfers, including wire transfers and TD Bank’s business foreign currency exchange services. This includes currency conversion fees.

The provider sets its own exchange rate for transactions in currencies other than Canadian dollars. This is a retail rate, which may include extra charges on your cross-border transactions.⁷

Comparison of TD personal vs. business cross-border banking

Feature	Personal	Business
Account types	TD Borderless Plan TD US Daily Interest Chequing account TD Complete Checking account	US Dollar TD Every Day Business Plan A, B and C US Dollar TD Basic Business Plan US Dollar TD Unlimited Business Plan US Dollar TD Community Plans
Transfer methods	You can send online transfers via EasyWeb or the TD app You can also send wire payments, TD Bank to TD transfers, Visa Direct payments and International Bank Transfers	You can send online transfers via EasyWeb or the TD app You can also make business wire transfers or exchange your money into a range of currencies
FX rates	TD Bank’s exchange rate will differ depending on your account and transaction type The provider sets its own rates for currency conversion, so you may not know how much your payment will cost until you come to make it	TD Bank uses a retail exchange rate for currency conversion – this is likely to include processing fees
Fees	Monthly account fees and transfer fees apply for some accounts	You’ll pay monthly account fees and transfer fees for some accounts

Advantages of TD cross-border banking

TD cross-border banking is one way to manage your money in the US. You can spend money outside Canada or earn interest on your US dollar savings.

You can also send quick mobile payments using your cross-border account. This is a convenient way for Canadian customers to pay bills or conduct business in the US.

Limitations of TD cross-border banking

There are some key limitations of TD Bank’s cross-border banking services for personal and business customers. Let’s take a closer look.

Currency conversion costs

TD Bank’s exchange rates may add significant costs to your cross-border transactions. The provider sets its own exchange rates, which may include additional charges for transfers in currencies other than Canadian dollars.

For some accounts, such as your Borderless Plan, you can access a preferred exchange rate for US transactions. However, this only applies to transfers up to 25,000 USD.⁴

Transfer fees and restrictions

Many personal and business TD cross-border accounts also come with monthly subscription fees and transaction costs.

For example, you’ll pay 1.25 USD per transaction for your US Daily Interest Chequing account.⁸ You’ll pay 125 USD per month to open a US Dollar TD Unlimited Business Plan.⁵

Limited global scope

TD Bank’s cross-border banking accounts are mainly aimed at spending in Canada and the US. This provides limited scope for international transactions.

Canadian customers may need a bank or money transfer service that offers a wider range of currencies and features.

Wise as an alternative to TD cross-border banking

Wise isn’t a bank, but it’s a great alternative to cover your money management needs - including direct deposits, local currency transfers, and more, for minimal transfer fees.

Wise never charges a markup on your transfer - meaning you’ll only ever pay the mid-market exchange rate when sending your money abroad. The app ensures transparency by informing you of what you pay before you transfer money. There are no costs associated with opening an account. The only time you pay is when you convert money or send money abroad.

Whether you’re a business or a personal account user, Wise offers multiple transfer options to cover everything you need. Wise can even help you get started with your account, letting you send, spend, and receive your money across the world.

Conclusion

TD’s cross-border banking options are ideal for Canadian customers who regularly send money to the US.

However, you’ll need to be aware of TD Bank’s exchange rate fees. You may also pay monthly subscription fees to open your personal or business cross-border account.

For a wider range of international features — including fair rates for currency conversion and no monthly account fees — check out Wise.

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Sources

1. TD Bank - Cross-border banking
2. TD Bank - Complete Checking account
3. TD Bank - US Dollar Visa card
4. TD Bank - Borderless Plan
5. TD Bank - Small business bank accounts
6. TD Bank - Managing your business
7. TD Bank - Foreign exchange services
8. TD Bank - US Daily Interest Chequing account
   Sources verfied on 7 October 2025