Powered by Visa Direct, the latest solution — TD Bank (US) to TD (Canada) Transfer — enables real-time transfers for Canadian users to move money from their U.S. TD Bank accounts quickly and easily.
Visa’s real-time push payments capability has handled 2 billion transactions in the past year.
Brian Weiner, vice president & head of product at Visa Canada, said that the company strives to make it hassle-free for Canadians “to send, receive and access their money where they want, when they want, and how they want.”
“Visa Direct is providing Canadians more convenient ways to move their money, and we are pleased to be working with TD to expand this capability to Visa cardholders,” he added.
The partnership is a demonstration of Visa’s resolve to streamline global payments and TD’s commitment to its customers’ always-evolving preferences.
The timing will help the financial preparedness of the 1.5 million Canadians flocking to warmer climates during the winter. A Visa survey indicates that 36 percent of Canadian snowbirds are exasperated when it comes to cross-border financial issues like transferring money between Canadian and U.S. accounts.
Almost $80 trillion is sent globally with wire transfers or bank accounts, which is a slow, outdated process that is also…