CLERCAT1XXX TD MS CLEARING, Main Branch Swift BIC Code
A SWIFT code is an 8 or 11 alphanumeric characters code which is also called BIC Code (Bank Identification Code) and is used to identify banks uniquely throughout the world. A SWIFT code is generally used in facilitating international wire transfers. The swift code for TD MS CLEARING Main Branch is CLERCAT1XXX.
The first 4 characters CLER signify the bank code for TD MS CLEARING. The next 2 characters CA indicate country. Next 2 characters T1 indicate location of the bank and the last 3 characters (optional) XXX is branch code for the Main Branch branch. XXX indicates main branch of the bank.
International wire transfer usually involve a fees at both sending and receiving end - which is okay.
However, if currency conversion is involved in the transfer you may end up paying a very hefty fees due to poor currency conversion rate provided by banks - this fee may be as large as 3-5% of the total transfer amount.
We recommend using service like transferwise for best conversion rates and lower wire transfer fees.