What is available?
You can send money overseas from your G&C Mutual Bank account to an overseas bank account via our International Payments Service, otherwise known as a telegraphic transfer or electronic transfer “Wire”. Funds are usually receive within 2-3 working days* and you can send the funds in your beneficiary’s local currency.
If you can’t make it into a Service Centre, or need to send money overseas on the fly, you can easily make a TT using Online Banking. Simply log on, go to “Payments” tab and select “International Transfers”. The country specific information and ‘help text’ will guide you through your transfer from start to finish.
What details do I need to send a TT?
You will need to provide the full name of your beneficiary and 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 provide the beneficiary’s full street address.
Include beneficiary bank’s code (sort code, SWIFT address, or routing number)**
Foreign Currency Drafts¹
A Foreign Currency Draft¹ is similar to a bank cheque but is made out in a foreign currency for an overseas payment. Through our business partnership with Western Union Business Solutions, you can acquire drafts in over 24 currencies.
A draft can be cleared like a local cheque in your recipient’s country.. This means the recipient will receive the funds sooner.
Drafts can be ordered at your nearest Service Centre and are available within 48 hours.
Click here to view Draft PDS
Receiving Money (Incoming International Payments ¹)
We now offer a fast and reliable option for receiving international payments into your account that is converted into Australian dollars (AUD). It’s a low cost alternative to SWIFT transactions that many members use to receive funds from overseas. This method saves you from paying fees on your inward payments and can take up to 60 days to clear.
Receiving foreign currency from an overseas account is now so easy.
Click here for detailed instructions
Foreign Cheque conversion
If you have received a cheque in a foreign currency, you can have it deposited into your G&C Mutual Bank account in Australian Dollars.
Typically personal, bank, company or government foreign currency cheques can be converted from a range of foreign currencies.
Simply take the cheque to your nearest Service Centre and we will look after the rest.
Foreign Cash (through Travelex)
We are pleased to introduce “Travelex” as our new Foreign Cash partner. You can buy Foreign Cash online with Travelex.
With over 50 foreign currencies and competitive exchange rates, we are confident we can provide you with the foreign cash you require, no matter where in the world you are going. Order at your convenience online or place an order at any of our Service Centre. Your foreign cash will be available for collection within 48 hours from any one of our Service Centres or Travelex location of your choice.
Don’t leave home without some cash on hand to pay for those immediate needs or unexpected charges.
Purchase Foreign Cash through our Contact Centre on 1300 364 400 or by visiting one of our Service Centres.
Multi Currency Cash Passport (through MasterCard²)
Protect your travel funds
If you are planning a trip overseas, a Multi-currency Cash Passport Card is a smart and secure way to manage your travel money.
Use it to eat, shop and play at millions of shops, ATMs, and online stores worldwide, anywhere Mastercard® is accepted.
Click here to learn more
1. G&C Mutual Bank has collaborated with Western Union Business Solutions (Australia) Pty Limited (ACN 150 129 749; AFSL 404092) (“WUBS”) to be able to offer the Telegraphic Transfer, Foreign Cheque Conversion and Foreign Draft services described in this page. Western Union Business Solutions is a business unit of The Western Union Company.Telegraphic Transfers and Foreign Cheque Conversion services are provided to you by G&C Mutual Bank. Drafts are offered to you by WUBS, pursuant to its agreement(s) with G&C Mutual Bank. Please note that fees, charges and terms and conditions apply and may vary depending upon the financial product or service. If you are seeking to acquire Drafts, it is important for you to consider the Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not that financial product is right for you. The Drafts PDS is available from G&C Mutual Bank or on the compliance section of the WUBS website . WUBS does not give you any advice, general, personal or otherwise.
*Funds are usually received by the beneficiary’s bank in 2 to 3 business days, however, there may be a delay in the beneficiary bank allocating funds to the beneficiary account. There is no delivery guarantee. Some currencies may take longer than others to process.
**Please note that International Payments are sent via a network of correspondent banks, which sometimes levy a small handling charge on your payment. Any such fees, and payment delays, are out of our control.
^ IBAN is used in some countries to uniquely identify a customer’s bank account. An IBAN is necessary for payments being sent from Australia to an IBAN mandatory country.
2. Mastercard Prepaid Management Services Australia Pty Ltd (ABN 47 145 452 044, AFSL 386 837) arranges for the issue of the
Multi-currency Cash Passport™ (“Cash Passport”) in conjunction with the issuer, G&C Mutual Bank Limited (ABN 72 087 650 637, AFSL 238311). You should consider the Product Disclosure Statement for the relevant Cash Passport available at www.cashpassport.com.au before deciding to acquire the product. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you.
Mastercard® and the Mastercard Brand Mark are registered trademarks of Mastercard.