In today's globalized financial landscape, ensuring the safe and efficient transfer of funds across borders is paramount. When conducting international wire transfers, the SWIFT code serves as a critical tool to guarantee funds reach their intended destination accurately. This article focuses on the SWIFT code used by Toronto-Dominion Bank (TD Bank) in Canada: TDOMCATTXXX .
Decoding the SWIFT Structure
The structure of this SWIFT code reveals its functional components. The first four characters, TDOM , identify the financial institution (Toronto-Dominion Bank). The following four letters, CATT , specify the bank's primary location in Toronto. The final three characters, XXX , represent the bank's head office. This standardized identification system ensures rapid and precise routing of international payments.
Essential Banking Details
Toronto-Dominion Bank's headquarters are located at E and Y Tower, Floor 15, 222 Bay Street, Toronto, Ontario, with the postal code M5K 1A2. When initiating transfers, it's crucial to verify both the SWIFT code and the bank's physical address to prevent processing delays or misdirected funds caused by inconsistent information.
The Critical Role of Accuracy
Utilizing the correct TDOMCATTXXX SWIFT code is fundamental for successful transactions with TD Bank, whether for personal remittances, commercial payments, or foreign exchange operations. An incorrect or outdated SWIFT code may result in funds being routed to the wrong institution, potentially causing significant financial complications and recovery challenges.
Best Practices for International Transfers
Financial institutions periodically update their SWIFT information. To ensure reliability:
- Confirm the current SWIFT code directly with the recipient's bank
- Verify all recipient details including full name, account number, and branch address
- Double-check all transaction information before submission
The TDOMCATTXXX SWIFT code remains the essential identifier for processing international transfers through Toronto-Dominion Bank. Proper understanding and application of this code significantly reduces processing errors and enhances the efficiency of cross-border financial transactions. Whether managing personal finances or conducting business internationally, accurate SWIFT code usage represents a fundamental requirement for all parties involved in global money movement.