TD Bank enhances online banking with P2P payments, external transfer services

US-based TD Bank has enhanced its online banking business by launching person-to-person (P2P) payment and external transfer services, allowing customers to securely transfer money to accounts at any US bank or to other people.

US-based TD Bank has enhanced its online banking business by launching person-to-person (P2P) payment and external transfer services, allowing customers to securely transfer money to accounts at any US bank or to other people.

Using the services, customers can select one-time or recurring transfers to or from their non-TD Bank accounts, send money to other person’s TD Bank or non-TD Bank account, or request money from another person. The P2P payments and transfers are currently available to and from US-based bank accounts only.

TD Bank uses Popmoney, developed by Fiserv, to provide customers with P2P payment options. Popmoney allows customers to send money to or request money from other people using their email address or mobile phone number.

TD Bank Group digital channels senior vice president, Rizwan Khalfan, said customers want services that make banking easier for them.

"Secure ways to manage their money online is increasingly important to people, and these services help meet the needs of their on-the-go lifestyles," Khalfan added.

All eligible personal banking accounts that are enrolled in TD Bank Online Banking can use the new services, which are available via TDBank.com.