International Transfers

International Transfers

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Send money overseas anytime, from anywhere

You can now use First Option's Internet Banking (IB) service to reliably and conveniently send money overseas to more than 200 countries and territories, in over 40 different currencies.

If you can't make it to a branch, or need to send money overseas on the fly, you can easily make an International Transfer using our IB service via your computer or laptop.

Simply log in to IB, go to the Payments menu and select International Transfers. (Members must be registered for One Time Passwords). The country specific information and 'help text' will guide you through your transfer from start to finish.

What is an International Transfer?

An International Transfer (also known as a "Telegraphic Transfer" or "Wire") is an electronic transfer of funds directly credited to a beneficiary’s overseas bank account. A choice of more than 130 currencies is offered - click here for more details.

Why should I use an International Transfer?

  • In most cases an International Transfer is the quickest way to send funds abroad (an International Transfer will normally take one to two business days to reach the beneficiary)
  • Sending an International Transfer 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" – See below for more details.
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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.

Sending an International Transfer in the beneficiary’s currency usually ensures the funds are credited more quickly, as the payment can go "straight through".

What details do I need to send an International Transfer?

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 International Transfers 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 First Option's and Western Union Business Solutions’ control. Given that a network of banks is used to complete your International Transfer, the time it takes for your payment to be credited can not be guaranteed.

If you have decided that an International Transfer is the payment method for you, please contact us to organise your payment.

See below for more details.

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In order to send your International Transfer, you must complete all sections of the order form. Please note:

  • You must enter full street addresses (PO Box addresses are not acceptable)
  • Payments to all European, and certain other, countries require an International Bank Account Number ("IBAN") – this may be obtained from the beneficiary
  • No symbols can be used in the beneficiary name (e.g. "&", "/" etc)
  • We are unable to send funds to certain countries – view list of countries

Click here to view the order form, which can be printed or emailed.

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The financial products (Drafts and Telegraphic Transfers) referred to in this communication 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 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 Draft 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.

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