Create Payment

Description

The Create Payment function allows you to send wire payments to companies or individuals around the world. Refer to Cutoff Table to determine when payments will be processed and to determine the value date.

Tip:

Save payment details in a template for easy access in the future.

To access the Create Payment page you must have either the right to Create Payments or to Create Payments from templates only.

Payment Initiation

If your company is registered as a Free Format company, you may initiate a wire payment from: (1) a template; or (2) create a new Payment to Customer. There is an additional option to create a new Payment to Bank. however this payment type is reserved for use by TD only and should not be selected. However, if you have been assigned the right 'Create from Templates only', then you may only use a template.

Note: On Behalf Of wire payments cannot be created using templates.

Find Templates
Selecting this link will display the Create Payment – Find Templates page that allows you to search the entire list of company templates by Template Name, Beneficiary Name and Settlement Account.

Payment Type
The payment type specifies whether this is a Payment to Bank or Payment to Customer as defined below:

Create New Wire Payment

Specifies that the sender is a TD customer and the beneficiary is an individual, company, or other financial institution.

Create New Wire Payment to Bank (For Bank Use Only)

Specifies that both the sender and beneficiary is a bank. This option is reserved for use by TD only.

Note: If this option is selected, this may result in the payment being delayed or returned and could result in additional fees charged to the beneficiary.

Payment Process

The creation of a wire payment is a seven-step process.

Note:

Only select the On Behalf Of tick box if your company offers money movement as a standalone service AND:

For a detailed description of the steps, click the applicable link in the table below.