What is an inward Telegraphic Transfer?

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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 and credited to your account.

It's an easy way to receive your payment and more than likely at a lower cost. The benefits of an inward Telegraphic Transfer include:

• Fast and reliable
• Payments can be made in 25 currencies.
• Savings for the sender as the transfer is treated as a local transaction