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Did you know you can send money overseas from your Qudos Bank account to an overseas bank account via electronic transfer (telegraphic transfer). Qudos Bank has teamed up with Western Union Business Solutions to bring you this efficient and economical service.
Benefits of a Telegraphic Transfer:
To calculate today's foreign exchange rate, use Western Union's Foreign Exchange Rates calculator for an estimate.
You can arrange a Telegraphic Transfers less than $5,000 yourself through Online Banking, for a fee2.
Select 'International Transfer/Pay' then 'International Transfer' and follow the prompts
Select 'Pay' then 'International' in the menu
We can help you arrange Telegraphic Transfers over $5000 for a fee2. The details of the person you are sending to will be needed before completing the form:
** Further information may be required for some countries**
Download and complete our Telegraphic Transfer Form, you can return the form by:
The funds will usually arrive to the destination bank within 2-3 business days1. Please note some currencies may take longer than others to arrive.
If you need to send money overseas, Qudos Bank can arrange a foreign currency International Bank Draft to be posted to a nominated address1.
A draft is like a bank cheque made out in a foreign currency. It’s another way for you to make payments and settle a transaction overseas if you don't have the electronic bank account details. Drafts can be sent overseas via the mail and are available in a wide range of currencies.
For us to arrange the draft you will need to provide us the details of the person you're sending the money to (beneficiary).
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Qudos Mutual Limited trading as Qudos Bank ABN 53 087 650 557 AFSL/Australian Credit Licence 238 305 ("Qudos Bank”) has entered into contractual arrangements with Western Union Business Solutions (Australia) Pty Ltd (ACN 150 129 749; AFSL 404092) trading as Western Union Business Solutions (“WUBS”), to assist it in fulfilling certain foreign exchange and payment services. The relationship relating to the services described (other than Drafts) is solely between you and Qudos Bank. Qudos Bank has arranged for Drafts to be offered directly to you by WUBS. If you are seeking to acquire Drafts, it is important for you to consider the Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not Drafts are the right financial product for you. The Drafts PDS is available from Qudos Bank or on the compliance section of the WUBS website (http://business.westernunion.com.au).
Any advice provided by Qudos Bank is general in nature and does not take into account your personal objectives, financial situation or needs. Because of that, you should, before acting on the advice, consider its appropriateness to your circumstances. WUBS does not give you any advice, general, personal or otherwise. Qudos Bank has a revenue share arrangement with WUBS, where Qudos Bank receives a percentage of the foreign exchange margin revenue and fee revenue (where applicable) for the relevant foreign exchange or payment service. See Qudos Bank’s Financial Services Guide for more detail. Fees and charges and terms and conditions apply. It is important for you to consider the relevant terms and conditions and Qudos Bank's Financial Services Guide and Fees & Charges brochure before you decide whether or not this financial product is right for you.
1. Funds are usually received by the beneficiary bank within 2 to 3 business days however delays may be experienced with allocation of funds to the beneficiary account by the beneficiary bank. There is no delivery period guarantee. Some currencies may take longer than others to process.
2. For the Transfer Fee please see our Fees & Charges brochure or call us on 1300 747 747 for more details.
^ IBAN is used in some countries to uniquely identify a customer’s bank account. An IBAN is necessary for payments being sent from Australia to an IBAN mandatory country.
