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Hi. Is it possible to receive money from someone in the US via ACH to either a TD Select Service or US-dollar Daily Interest Chequing account? If so, is there a fee for this service? Thanks.
February 8, 2013 01:37:23 PM
In reply to Ray, Toronto
Hi Ray, thanks for connecting with us on TD Helps.
TD Canada Trust customers can have Direct Deposits and preauthorized payments set up to their Canadian and U.S. Dollar Accounts from financial institutions in the United States. This process is set up by the depositor with their local Federal Reserve ACH (Automatic Clearing House): https://www.Sacha.org/.
To use this service, the US financial institution would contact the Federal Reserve Bank to initiate these transfers. The depositor will only need to provide your institution number (004 for TD Canada Trust), your transit number and account number. You should not need a routing number to complete an ACH transfer, however, if you are being asked for one, it would be "026 009 593". There is no fee for the credit to your account if made in this manner.
If the funds are directed to your US Dollar Account, they will remain in US dollars, and not be exchanged.
If you have any other questions, please give us a shout anytime at 1-866-222-3456. Representatives are available 24 hours a day to assist.
Hope this helps with your ACH transfer, and stay indoors as “snowmageddon” is on its way to Toronto. ^SL
Social Customer Service, London
February 8, 2013 01:57:56 PM