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Send money overseas

anytime, from anywhere!

Send money overseas to more than 200 countries and territories, in over 130 currencies. 

Illawarra Credit Union, in association with Western Union Business Solutions, is the one‑stop shop for international transactions of any size. We can facilitate sending and receiving money around the world in quick, reliable and affordable ways.

International Telegraphic Transfer (TT) are easy via internet banking.

Simply log onto internet banking.
Go to the Payments tab and select International Transfers.
Follow the country specific information and prompts.

Find out more.

What is a Telegraphic Transfer (TT)?

A Telegraphic Transfer (also known as a “Wire”) is an electronic transfer of funds directly credited to a beneficiary’s overseas bank account. A choice of more than 40 currencies is offered, more information is available here.

Why should I use a TT?
A TT is fast, taking one or two business days to reach the beneficiary. Plus, it’s a reliable way to send funds to a bank account internationally.

Sending money internationally in the beneficiary’s currency is usually more cost effective and ensures funds are credited more quickly, as the payment can go “straight through.”

What details do I need to send a TT?

You’ll need to provide details of the beneficiary’s bank account, which includes their IBAN (international bank account number) if they are in Europe. To comply with Australian Government regulations you must also provide the beneficiary’s full street address.

Please note that TT’s are sent via a network of correspondent banks, which sometimes levy a small handling charge on your payment. Any such fees are out of Illawarra Credit Union and Western Union Business Solutions control. Given that a network of banks is used to complete your telegraphic transfer, the time it takes for your payment to be credited cannot be guaranteed.

 

Additional services. 

Inward Telegraphic Transfer (TT)

An Inward Telegraphic Transfer (also known as an “Inward Wire”) is an electronic transfer of funds directly credited to your account from an overseas remitter. A TT will normally take 2-3 business days* to be credited to Illawarra Credit Union for your account, although this can never be guaranteed. Click here to submit an inward telegraphic transfer (TT).

Draft

A Draft is like a bank cheque made out in a foreign currency. Drafts are useful if you don’t have the beneficiary’s electronic bank account details. Drafts can be sent overseas via mail and are available in a range of currencies. Drafts are a non‑negotiable instrument and can only be credited to the named payee’s bank account, unless the payee has endorsed the draft.

Foreign Cheques

Illawarra Credit Union now offers members foreign currency cheque conversion services. Western Union Business Solutions allows us to convert foreign cheques in a range of currencies, into Australian dollars. Bring your cheque to one of our local branches and we’ll do the rest.

Chat to us today to find out more.
Call 13 22 49 or email enquiries@cu.com.au

Important notes

The financial products referred to in this communication are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 40409, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with your Financial Institution. Fees & Charges and Terms & Conditions apply.

It’s important for you to consider the relevant Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not a financial product is right for you. A PDS is available for each financial product issued by WUBS from your Financial Institution or on the compliance section of our website. Any advice provided above is general and does not take account of your personal objectives, financial situation or needs.

This communication has been prepared solely for informational purposes and does not in any way create any binding obligations. The relationship relating to the financial products referred to in this communication are solely between you and the Financial Institution. No representations, warranties or conditions of any kind, express or implied, are made in this communication.

Western Union Business Solutions is an operating division of the Western Union Company. Western Union is the issuer of the financial products referred to in this communication.

Illawarra Credit Union ABN: 14 087 650 771 AFSL/Australian credit licence 245576 has entered into an agreement with Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 404092, trading as Western Union Business Solutions (“WUBS”) to fulfill certain foreign exchange products and services that we offer to our members. Please note that (other than for Drafts), you are a customer of Illawarra Credit Union in respect of these products and services. The relationship relating to these services is solely between you and Illawarra Credit Union. Other fees, charges and terms and conditions apply.

Fees, charges and terms and conditions apply and may vary depending upon the product or service. Promotional campaigns may alter or waive fees, charges and terms and conditions on a temporary basis.

* Please note that TT’s 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.