How to transfer money internationally

Sending money overseas may seem a bit tricky if you've never done it before, but we've got some tips to get you started with your international transfer. 

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Transferring money internationally may seem a bit daunting if you haven't done it before. There are plenty of quick and easy options to choose from, depending on the purpose of your transfer. Some options include:

  • Telegraphic Transfer
  • Draft - Bank Cheque in foreign currency
  • PayPal
When transferring money, or ordering a Draft, you’ll most likely have to pay a service fee to your bank or money transfer service. This fee could be a percentage of the total amount being sent or a flat fee depending on the service provider. 

Along with this, just like purchasing foreign currency, you’ll be offered different exchange rates depending on the service you choose and what day you make the transfer. You might like to shop around and compare exchange rates to make sure you’re getting the best deal. 

Telegraphic Transfer

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. A Telegraphic Transfer can usually be sent directly from your Bank account or you could choose to use a money transfer service. 

You can use a Telegraphic Transfer to:  

  • Send funds to a family member or friend living overseas
  • Buy overseas property from Australia
  • Send wages or salaries to employees overseas
You’ll usually need these details:
  • 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. Ask your bank money transfer service provider for more information. 

If you're an existing Heritage customer, we can assist you with this using our send money overseas service, powered by Convera. 


Transferring money overseas through PayPal can be an easy way to send money overseas. To get started, you’ll need to have a PayPal account and the receiver will be asked to set up an account when you send the money. They'll get notification you've sent them money and the funds will arrive to their PayPal account for withdrawal to their bank account. Fees will apply for this though so make sure you read the details before sending.  


A Draft is a bank cheque made out in a foreign currency. They can be sent via mail and are available in a wide range of currencies. A draft may be a good option to send money overseas if:
  • You don't know the recipient's bank account details
  • You are sending a small amount of money and there isn't any urgency
  • You want to send a payment by mail with a letter, card or invoice
With the everchanging way we send money, Drafts are becoming less popular. Due to this, Heritage no longer offers our Draft service.

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