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An outward Telegraphic Transfer (TT) is a secure way to electronically transfer money internationally in a specified currency.

We also offer an inward Telegraphic Transfer service.

Like to know more?

Outward Telegraphic Transfers

A TT is one of the quickest ways to send funds abroad and is ideal if funds have to reach an overseas recipient in a hurry. The remitter sends funds in their own currency, which is then converted into the destination's currency.

Bear in mind that the receiver must have a bank account, as they will be unable to collect the funds in cash.

Benefits of using an outward Telegraphic Transfer

  • Cost-effective and efficient: sending a TT in the recipient’s currency (rather than AUD) is usually more cost-effective and more efficient taking only 2-3 days to reach its destination.
  • You know exactly how much is being transferred: by sending a TT in the currency of the country it is being sent to, you are providing certainty by being able to "lock-in" the exchange rate. If you were to send the funds in AUD, there is no way of knowing the exchange rate that the overseas bank will apply.
  • Quicker transfer: sending a TT in the recipient's currency usually ensures the funds are credited quicker, as the payment can go "straight through".
  • More cost-effective: the fee to send a TT in AUD is much higher.
  • Can be traced: if there is a problem with the TT, it is usually easier to trace if the funds have been converted from AUD to the recipient’s currency.

What currencies can I send a Telegraphic Transfer in?

You can place a TT in 130 currencies, for a full list please click here.

Please note: we do not recommend sending AUD TTs unless the funds are being sent to an overseas Australian Dollar bank account.

There are some restrictions as to which currencies TTs can be sent in to certain locations, eg. TTs cannot be sent in AUD to the USA, and only AUD can be sent to Vanuatu.

To which countries am I unable to send a Telegraphic Transfer?

You are unable to send a TT  to Afghanistan, Iran, Myanmar (Burma), Cuba, Iraq, North Korea, DR Congo, Libya and Syria.

What information do I need to send a Telegraphic Transfer?

  • Sender’s Full Name (no initials).
  • Sender’s Address (must be street address, not a PO Box).
  • You will need to provide full details of the receiver’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.
  • Purpose of Payment (to be entered in the User Reference field at time of lodgement).
  • Please note that the following characters cannot be used: ! @ # $ % ^ & * ( ) _ + { } [ ] | \ < > ? (ie: instead of "HM Revenue & Customs", write "HM Revenue and Customs").

How to make a Telegraphic Transfer

To make a TT visit your local branch

How much does a Telegraphic Transfer cost?

Outgoing (non $AUD) $30
Outgoing ($AUD) $50
Incoming $10 
Trace Fee* (if applicable) $80 

What to do if your Telegraphic Transfer is delayed

Sometimes a delay may occur in the beneficiary receiving their funds. This is generally because of an issue with one of the intermediary banks in the payment "chain", and is out of our control.

If the recipient has not received the money in their account after five business days, please call into your local Bank of us branch and we will place a trace on the transfer. Traces will be conducted free of charge unless it transpires that funds were credited to the recipient account prior to the trace being requested – in this case a fee of $80* will apply.

Please note:TTs are sent via a network of correspondent banks, which sometimes levy a small handling charge on your payment. Any such fees are totally out of Bank of us and Western Union Business Solutions 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.

TTs are often credited into the recipient’s bank account minus any fees charged by intermediary banks, therefore it is possible that the recipient is looking for the wrong amount.

The small, small print:

The financial products (Drafts and Telegraphic Transfers) referred to are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 40409, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with Bank of us. Fees & Charges and Terms & Conditions apply.

It's important for you to consider the relevant Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not a financial product is right for you. A Draft PDS is available for each financial product issued by WUBS from any Bank of us branch or on the compliance section of our website http://business.westernunion.com.au/about/compliance/. Any advice provided above is general and does not take account of your personal objectives, financial situation or needs.

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