How do I send money or receive money overseas?
International Telegraphic transfers
Teachers Mutual Bank has partnered with Convera to offer you international telegraphic transfers, so you have the confidence and convenience when sending and receiving money from overseas.
Please note that, for these purposes, the agreement is between you and the Bank only.
A fee of $25 applies to international foreign currency telegraphic transfers, and $40 for international AUD telegraphic transfers.
Sending money overseas
An international telegraphic transfer (TT) allows you to electronically send funds directly into your beneficiary’s account in a specified currency. TT's are the preferred method to make large value international payments and can be processed cost-effectively and securely in over 100 currencies.
You can choose for the funds to be either in Australian dollars or the currency of the destination country (note some restrictions may apply*). Telegraphic transfers in AUD will be converted to the local currency by the beneficiary bank and this may add to delays. Please note that TT’s are not instant — they can take anywhere between 2-5 working days to arrive, depending on the country of destination.
To arrange for a TT click here
How to receive money from overseas
An incoming overseas deposit allows you to receive foreign currency into your account that is converted into Australian Dollars (AUD).
You may receive money from overseas by using one of 2 methods - receiving money using Cuscal, or receiving money using Convera.
To receive money from overseas click here
