Performing an action to initiate a consequence in the environment triggers the perceptual illusion of temporal binding. This phenomenon entails that actions and following effects are perceived to occur closer in time than they do outside the action-effect relationship. Here we ask whether temporal binding can be explained in terms of multisensory integration, by assuming either multisensory fusion or partial integration of the two events. We gathered two datasets featuring a wide range of action-effect delays as a key factor influencing integration. We then tested the fit of a computational model for multisensory integration, the statistically optimal cue integration (SOCI) model. Indeed, qualitative aspects of the data on a group-level followed the principles of a multisensory account. By contrast, quantitative evidence from a comprehensive model evaluation indicated that temporal binding cannot be reduced to multisensory integration. Rather, multisensory integration should be seen as one of several component processes underlying temporal binding on an individual level.