TD – Banking Information Collected by the Lawyer on Closing
What Banking Information Does Your Lawyer Collect on Closing (TD)?
When you’re closing on a home purchase or refinance with an TD mortgage, your real estate lawyer will collect specific banking information to ensure funds are transferred correctly and mortgage payments are set up without delays.
Here’s what TD clients are typically asked to provide and why it matters.
What Banking Info Lawyers Collect at Closing
If you bank with TD, your lawyer may request:
1. TD Bank Account Information
This includes:
- Account number
- Transit (branch) number
- Institution number
This information is used to:
- Deposit surplus funds after closing (if applicable)
- Help TD set up your mortgage payment withdrawals
2. TD Void Cheque or Direct Deposit Form
TD may ask for:
- A void cheque, or
- An TD Direct Deposit / PAD form, downloadable from online banking
This document confirms your banking details in a standardized format your lawyer and lender can rely on.
3. Source of Funds (When Required)
In some cases, your lawyer may ask where your funds came from (savings, gift, sale of property, etc.) to meet legal compliance requirements.
Why This Information Matters
Providing accurate TD banking information helps:
- Ensure mortgage funds are released correctly
- Avoid delays on closing day
- Set up automatic mortgage payments properly
Missing or incorrect details can slow down the closing process.
How to Get Your TD Banking Info Ready
- Download an TD void cheque or direct deposit form from online banking
- Confirm your account details before submitting
- Ask your lawyer which format they prefer
Bottom Line
TD banking information allows your lawyer and lender to complete your closing smoothly and on time. Being prepared helps avoid last-minute stress.
Need Help with Mortgage Paperwork?
At Red Key Mortgage, we help clients through every step of the mortgage process — from approval to funding.
If you’re unsure which banking documents your lawyer or lender needs, or how to obtain them from your bank, we’re here to help.
Contact Red Key Mortgage today — we’ll walk you through every step of the approval process.
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