Telegraphic Transfer between Bank Accounts

Send or receive money safely and efficiently to or from an overseas bank account.

Whether you're transferring money overseas or you have friends or family that want to send you money from abroad, it's easy with a Telegraphic Transfer.

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Receive money from an overseas bank account!

If you wish to receive regular or one-off foreign currency payments to your Auswide Bank account, an inward Telegraphic Transfer may be the ideal solution.

An Inward Telegraphic Transfer, also known as an Inward Wire is an electronic transfer of funds from the overseas sender (made out in their own currency) which are converted into Australian dollars by our business partners Western Union and credited to your account.

It's an easy way to receive your payment at a much lower cost. Transaction charges from some banks can take a big chunk out of your payment.

We can help you save with reliable international payments in 25 currencies

  • Savings for you as you won’t be charged a beneficiary deduct fee so you’ll get the full payment amount.
  • Savings for the sender as the transfer is treated as a local transaction
  • Fast and reliable as your payments are handled by foreign exchange experts and you can usually expect funds in your account within 2-3 business days.
  • A wide range of currencies.

Arrange an inward Telegraphic Transfer

  1. Complete our online inward Telegraphic Transfer request to receive money from overseas
  2. Choose the country you are receiving funds from.
  3. Complete the relevant information in the online form and submit.
  4. You will then be presented with deposit instructions in a PDF file. Please save it for your reference, and email it to the person or business sending the funds to you.
  5. Ask the sender to:
    • present these instructions to their bank when arranging to send the payment to you
    • deposit the amount into the dedicated account as stated in the instructions in local currency and not in Australian Dollars (AUD)
    • confirm the bank includes payment note 01966-FI in the bank’s reference field as specified in the PDF deposit instructions

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Transfer money to an overseas bank account!

Simply visit a branch or complete an outward Telegraphic Transfer Request – you'll need to supply the necessary details which can vary from country to country.

  • Transfers in a specified currency within 3 business days
  • Certainty about when the payment was received
  • More secure than physical payment means such as cheques or drafts
  • You can include brief messages as part of the payment transaction
  • An affordable way of transferring a large amount of funds overseas

Arrange an outward Telegraphic Transfer

To request a Telegraphic Transfer, you will need to provide your residential address and the residential address for the receiver, as well as details of the account that the funds will be transferred to. This includes:

  • Beneficiary Bank Full Name
  • Beneficiary Bank Full Address
  • Account Number
  • Beneficiary's Full Name
  • Beneficiary's Residential Address
  • Purpose (Reference)

You may also need to provide some additional information when sending a Telegraphic Transfer to the following countries:

  • Europe: International Bank Account number (IBAN) – the IBAN incorporates the bank, sort code and account number
  • United Kingdom: IBAN
  • New Zealand: Bank code
  • Malaysia: National ID number or Company number
  • USA: ABA or routing code

Please note:

  • It is a requirement under the AML/CTF Act 2006 that identification is collected when applying for this product - if you are not an existing Auswide Bank client who has been previously identified, it will be necessary to produce acceptable forms of identification.
  • Funds cannot be transferred directly to an overseas credit card account. You may be able to arrange to pay a credit card bill if you send the funds to the suspense account of the overseas bank's card division.
  • Telegraphic Transfers are not available to the following countries: Afghanistan, Angola, Cuba, India, Iran, Libya, Myanmar (Burma), Nauru, North Korea, Seychelles, Sudan, Syria.
  • Telegraphic Transfers are sent via a network of correspondent banks, which sometimes levy a small handling charge on your payment. Any such fees, and payment delays, are out of our control.

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Trace/Cancel an outward Telegraphic Transfer

We can arrange a trace outward Telegraphic Transfers but only after 5 working days have elapsed from the date the order was placed. There is no fee for conducting a trace unless it transpires that funds were credited to the overseas beneficiary account prior to the trace being requested (in which case a fee will apply).

If you wish to cancel an outward Telegraphic Transfer after placing an order, the transaction will be reversed using the prevailing "buy" exchange rate (rather than the original "sell" exchange rate) and hence you may incur a loss depending on exchange rate movements.

To arrange a Trace or to Cancel an outward Telegraphic Transfer you have ordered through Auswide Bank contact us.

 

Telegraphic transfer to and from overseas bank accounts are arranged by Western Union Business Solutions (WUBS) ABN 24 150 129 749, AFSL 404092. In arranging a telegraphic transfer, Auswide Bank Ltd (Auswide Bank) ABN 40 087 652 060 AFSL 239686 acts as an agent for WUBS and not as your agent. If you buy WUBS products, Auswide Bank may be paid commission. To help you make an informed decision about whether to acquire a WUBS product through Auswide Bank you should read our Auswide Bank Financial Services Guide.