Receive money from overseas with an Inward Telegraphic Transfer?
An Inward Telegraphic Transfer (also known as an “Inward Wire”) is an electronic transfer of funds directly credited to your account from an overseas remitter. In most cases, a TT is the quickest way to receive funds from abroad (a TT will normally take one-to-three business days to be credited to your account, although this can never be guaranteed).
How does it work?
The remitter should send the funds in their own currency, and Western Union Business Solutions will convert them into Australian Dollars before forwarding to Laboratories Credit Union for credit to your account. Funds can be sent in a range of currenciesand will be received in Australian Dollars.
Why should I ask my sender to send money via this service?
Better value for you- you are not charged a beneficiary deduct fee, so you will receive the full amount of your incoming payment.
Better value for senders-no fee is charged by Western Union Business Solutions to process your payment.
Peace of Mind- you can be confident that their payments are being handled by foreign exchange specialists with reliable systems ready to deliver your payment fast.
Wide range of currencies-Wide range of currencies - click here to view the currency list.
What do I need to do to receive money to my account?
Complete the relevant information in the online form and submit.
You will then be presented with deposit instructions in a PDF file. Please save it for your reference and email it to your payee/ follow payment instructions.
Ask the sender to :
Present these instructions to their bank when sending the payment to you
Deposit the amount into the dedicated account as stated in the instructions in local currency and not in AUD
Instruct bank teller to include payment note CAU01931-FI289270 in the bank’s reference field as specified in the PDF deposit instructions
The financial products referred to in this communication are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 404092, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with Laboratories Credit Union. 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 PDS is available issued by WUBS from Laboratories Credit Union Limited or on the third party disclaimer 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 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.
