How to pay for things overseas
Work out how you will pay for things like hotels, meals and activities before you set off. Here's a list of the easiest ways to access and use your money.
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Sending Money Overseas
A Telegraphic Transfer transmits funds electronically to an overseas bank account in a specified currency
Outward Telegraphic Transfers
Outward Telegraphic Transfers allow you to:
- Send funds to a family member or friend living overseas
- Buy overseas property from Australia
- Send wages or salaries to employees overseas
A Telegraphic Transfer transmits funds electronically to an overseas bank account in a specified currency. Funds are deposited directly into the payee’s bank account to be accessed easily by the payee.
To complete a Telegraphic Transfer you will need to complete the Telegraphic Transfers Order Form. Visit your nearest branch or phone 13 14 22 for more information.
Benefits
- You can be certain about when the payment has been received
- Payments are usually finalised within 3 business days following the transfer
- A brief message can be included in the transaction
- Economical way to send large amounts of money
- Send in over 130 currencies
- Send to over 200 countries and territories
- Electronic transfer can be more secure than sending a cheque or Draft
FAQ's
Telegraphic Transfers sent in AUD to a country with different currency will attract a $50.00 fee.
Intermediary banks may charge fees independently of Heritage Bank.
The details must be clearly communicated and 100% accurate. Any errors may increase the time taken for your payee to receive funds.
To request a Telegraphic Transfer, you will need to complete the Telegraphic Transfers Order Form, 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
| Code | Currency |
| AED | United Arab Emirates Dirham |
| CAD | Canadian Dollar |
| CHF | Swiss Francs |
| DKK | Danish Krone |
| EUR | Euro |
| FJD | Fijian Dollar |
| HKD | Hong Kong Dollar |
| JPY | Japanese Yen |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Baht (Govt. Restrictions) |
| GBP | British Pounds Sterling |
| USD | United States Dollar |
| ZAR | South African Rand |
We can also send Telegraphic Transfers in a range of minor currencies. Please contact us to enquire.
Major currencies will take 3-4 business days. Minor/exotic currencies may take up to 10 business days. Please note these are only indicative timeframes.
Drafts
Like a bank cheque made out in a foreign currency, Drafts are an easy and affordable way to make a payment overseas. Drafts can be sent via mail and are available in a wide range of currencies.
When should you send a draft?
- If you don't know the recipient's bank account details
- If you are sending a small amount of money
- If you want to send a payment by mail with a letter, card or invoice
Please consider the Draft Product Disclosure Statement before you decide whether or not this product is right for you.
Drafts are available in more than 24 currencies including:
| Code | Currency |
| AED | United Arab Emirates Dirham |
| AUD | Australian Dollar |
| BHD | Bahraini Dinar |
| CAD | Canadian Dollar |
| CHF | Swiss Francs |
| DKK | Danish Krone |
| EUR | Euro |
| FJD | Fijian Dollar |
| GBP | British Pounds Sterling |
| HKD | Hong Kong Dollar |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KES | Kenyan Shilling |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PHP | Philippine Peso |
| SAR | Saudi Arabian Riyal |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| USD | United States Dollar |
| XPF | Tahitian Franc |
| ZAR | South African Rand |
On average the cost is approximately $12.50. However, commissions are subject to change from time to time. To confirm the cost come in and talk to us today.
There are fees related to the stopping and re-issue of Drafts and you should refer to the Product Disclosure Statement for Drafts.
The exchange rate that will apply to the purchase of a foreign currency Draft varies from day to day and will be determined at the time of order.
Our International Partners
- Cash Passport
- Foreign Exchange Rates
Our International Partners
- Cash Passport
- Foreign Exchange Rates
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