We are excited to launch “Western Union Business Solutions” as our new Foreign Exchange partner for International Money Transfers. You can now use G&C Mutual Bank’s Online Banking service to reliably and conveniently send money overseas to more than 200 countries and territories, in over 120 different currencies.
What is available?
A Telegraphic Transfer (also known as a “Wire”) is an electronic transfer of funds directly credited into your beneficiary’s overseas bank account. A choice of more than 120 currencies is offered.
If you can’t make it into a Service Centre, or need to send money overseas on the fly, you can easily make an International Telegraphic Transfer (TT) using our Online Banking service. Simply log on to your online banking account, 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 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.
Please note that TT’s are sent via a network of correspondent bank’s which sometimes levy a small handling charge on your payment. Any such fees are out of G&C Mutual Bank and Western Union Business Solution 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.
Foreign Currency Drafts¹
It is similar to a bank cheque but is drawn in a foreign currency for an overseas payment. We offer drafts in over 120 currencies issues in more than 25 currencies.
A draft can be cleared as if it was a local cheque and doesn’t have to be sent to Australia to be cleared. This means the recipient will receive 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 (Inward Telegraphic Transfer¹)
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, G&C Mutual Bank, in association with Western Union has the ability to convert in into Australian Dollars and credit into your G&C Mutual Bank account.
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
Western Union Business Solutions is a business unit of The Western Union Company. In Australia, Western Union Business Solutions (Australia) Pty Limited (ACN 150 129 749; AFSL 404092) is the provider of certain foreign exchange and payment services and products to Financial Institutions.
This communication has been prepared solely for informational purposes and does not in any way create any binding obligations on any person. No representations, warranties or conditions of any kind, express or implied, are made in this communication.
1. Drafts are provided directly to you by Western Union Business Solutions (Australia) Pty Ltd (ACN 150 129 749 AFSL 404092) (“WUBS”), pursuant to its agreement(s) with G&C Mutual Bank. Other financial products are provided to you by G&C Mutual Bank. G&C Mutual Bank has appointed WUBS to assist in facilitating some financial products. Please note that fees, charges and terms and conditions apply and may vary depending upon the financial product.
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 (http://business.westernunion.com.au/).
The relationship relating to financial products (other than Drafts) is solely between you and G&C Mutual Bank. The relationship relating to Drafts is solely between you and WUBS. Any advice provided is general in nature and does not take into account your personal objectives, financial situation or needs. WUBS does not give you any advice, general, personal or otherwise. Any advice provided, is provided by your G&C Mutual Bank or your adviser. 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.
WUBS is a business unit of the Western Union Company.
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.