Send Money Overseas

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.

• In most cases a TT is the quickest way to send funds abroad (a TT will normally take one to two business days to reach the beneficiary), and is a reliable way to send funds to a bank account internationally.
• Sending a TT in the beneficiary’s currency is usually more cost effective and helps ensure the funds are credited more quickly, as the payment can go “straight through”.

By sending your International Transfer in the currency of the country it is being sent to, you generally receive greater certainty on your payment – you can effectively "lock-in" the exchange rate, and know exactly how much is being transferred. If you were to send the funds in Australian Dollars, it may be difficult to find out the exchange rate that the overseas bank will apply, and hence it may be difficult to find out how much will be credited to the beneficiary’s account.

Simply log on to your online banking account, go to the Payments tab and select International Transfers. The country specific information and ‘help text’ will guide you through your transfer from start to finish.

• You will need to provide full details of the beneficiary’s bank account, including 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 Unity Bank's and Convera's 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.¹