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.

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