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 130 currencies is offered.

Sending a telegraphic transfer

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).

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”.

What you'll need

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.

Please note that 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 Queensland Country Bank and Convera 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.

Transferring funds with a Telegraphic Transfer

If you have decided that a TT is the payment method for you, simply call into your local Queensland Country Branch today and our friendly staff will help you.

Costs and fees

Service Price
Telegraphic transfer (online)          $25.00 per transfer
Telegraphic transfer in foreign currency $30.00 per transfer
Telegraphic transfer in AUD $50.00 per transfer

* Traces will be conducted free of charge unless it becomes known that funds were credited to the beneficiary account prior to the trace being requested.

Features

  • Cost effective and fast
  • Transfer in more than 130 currencies
  • Usually sends in 1-2 days
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The fine print

Queensland Country Bank has entered into contractual arrangements with Convera Australia Pty Ltd (ACN 150 129 749; AFSL 404092) (“Convera”), to assist it in fulfilling certain foreign exchange and payment services, including telegraphic transfers. The relationship relating to the services described is solely between you and Queensland Country Bank. Fees and charges may apply, depending on the financial product.

Full terms and conditions are issued by Queensland Country Bank and are available upon request from any of our branches.

Any advice provided by Queensland Country Bank is general in nature and does not take into account your personal objectives, financial situation or needs. Convera does not give you any advice, general, personal or otherwise. This communication has been prepared solely for informational purposes and does not in any way create binding obligations. No representations, warranties or conditions of any kind, express or implied, are made in this communication.