Receiving Telegraphic Transfers

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Receiving money - Inward Telegraphic Transfer

When you’re bringing money across from another country, transaction charges from the banks can take a big chunk out of your payment. With Inward Telegraphic Transfer Service from AWA Alliance Bank  you will get a better deal on fast, reliable foreign currency payments to your Australian account.

What is an Inward Telegraphic Transfer?

An Inward Telegraphic Transfer (also known as an “Inward Wire”) is an electronic transfer of funds directly credited to your account from an overseas remitter.  In most cases a TT is the quickest way to receive funds from abroad (a TT will normally take two-to-three business days to be credited to your account, although this can never be guaranteed).

How does it work?

The remitter should send the funds in their own currency, and Western Union Business Solutions will convert them into Australian Dollars before forwarding to AWA Alliance Bank for credit to your account. Funds can be received in a range of currencies.

Why should I ask my sender to send money via this service?

  • Better value for you – you are not charged a beneficiary deduct fee, so you will receive the full amount of your incoming payment.
  • Better value for senders – no fee is charged by Western Union Business Solutions to process your payment
  • Peace of mind – you can be confident that their payments are being handled by foreign exchange specialists with reliable systems ready to deliver your payment fast.

What do I need to do to receive money to my account?

  1. Click on the link below – Receive money from overseas
  2. Choose the country you are receiving funds from.
  3. Complete the relevant information in the online form and submit.
  4. You will then be presented with deposit instructions in a PDF file. Please save it for your reference and email it to your payee/ follow payment instructions.  
  5. Ask the sender to :
    • present these instructions to their bank when sending the payment to you
    • deposit the amount into the dedicated account as stated in the instructions in local currency and not in AUD

Disclaimer

The financial products referred to in this communication are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 404092, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with your Financial Institution. 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 PDS is available for each financial product issued by WUBS from your Financial Institution or on the compliance section of our website. Any advice provided above is general and does not take account of your personal objectives, financial situation or needs.

This communication has been prepared solely for informational purposes and does not in any way create any binding obligations. The relationship relating to the financial products referred to in this communication are solely between you and the Financial Institution. No representations, warranties or conditions of any kind, express or implied, are made in this communication.

Western Union Business Solutions is an operating division of the Western Union Company. Western Union is the issuer of the financial products referred to in this communication.

Bendigo and Adelaide Bank

AWA Mutual Limited ACN 087 651 652 (AWA) is an agent of Bendigo and Adelaide Bank Limited (Bendigo Bank) ACN 068 049 178 AFSL/Australian Credit Licence 237879 in the distribution of AWA Alliance Bank branded products and services. AWA also has arrangements with other third parties as detailed in the Financial Services Guide.

AWA Alliance Bank branded deposits and loans are deposits and loans of Bendigo Bank. This website provides general advice only and information has been prepared without taking into account your objectives, financial situation or needs. We recommend that you seek independent advice before making any decisions based on this information. Consider the relevant disclosure documents, which includes terms and conditions for the various AWA Alliance Bank products and services as this information is relevant when deciding whether to acquire or hold an AWA Alliance Bank product. AWA Alliance Bank is a trade mark of Bendigo Bank.