Need to send money overseas?

The Mac has you covered when it comes to sending funds internationally. Through Western Union, we can send funds via Telegraphic Transfer or provide you with a Draft.

Did you know that you can send money form your bank account to an overseas bank account via Western Unions Internal Payments Service, otherwise known as a Telegraphic Transfer or ‘wire’. You can send money to 200 countries and territories in over 130 currencies.

 

Benefits to you:
  • Funds are normally credited within 2.3 business days1
  • No surprise overseas bank fees2
  • Cost effective; you can potentially save money by sending in your beneficiary’s local currency2

 

What you need to send money overseas

You will need to provide us with the full name of your beneficiary and full details of their bank account, including their IBAN3 (International Bank Account Number) if they are in Europe.

To comply with Australian Government regulations, you must provide the beneficiary’s full street address. You also need to provide the beneficiary’s bank code (sort code, SWIFT address or routing number)2

Need to send money via a Draft? We have you covered for that too!

A Draft is a company cheque made out to your nominated recipient in a specified single currency. It’s another way for you to make payments and settle a transaction overseas. Drafts are convenient if you do not have the recipient’s electronic bank account details.

 

Potential benefits to you:
  • Send a Draft via mail
  • Drafts are available in more than 24 different currencies

 

When might I use a Draft?
  • When you don’t know the recipients bank account details
  • When you’re sending a small amount of money
  • When you want to send a payment via mail with a letter, card or invoice

 

Things to note:
  • Drafts are non-negotiable and can only be credited to the beneficiary’s bank account (unless the beneficiary has endorsed the Draft in favour of another Payee)
  • In certain circumstances, Drafts can be stopped if they go missing in transit. Western Union Business Solutions may be able to place a stop on the Draft and issue a replacement. Conditions apply.

© 2019 Western Union Holdings Inc. All rights reserved.

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) (“WUBS”) is the issuer of the financial products (if any) referred to in this communication. A product disclosure statement is available for each of the financial products that WUBS issues (if any) and can be obtained by visiting https://business.westernunion.com/en-au/compliance-legal/compliance. Before you decide to acquire a financial product from WUBS you should read and consider the relevant product disclosure statement. This communication has been prepared solely for informational purposes and does not in any way create any binding obligations on either party. Relations between you and WUBS shall be governed by the applicable terms and conditions provided to you before you trade. No representations, warranties or conditions of any kind, express or implied, are made in this communication. This communication is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject WUBS and/or its affiliates to any registration or licensing requirement within such jurisdiction.

1 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.

2 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.

3 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.

The Mac (Macarthur Credit Union Ltd) has entered into arrangements with Western Union Business Solutions (Australia) Pty Limited (ACN 150 129 749; AFSL 404092), trading as Western Union Business Solutions (“WUBS”) whereby WUBS offers Drafts directly to our members. Other financial products are provided to you by us. We have 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.

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 us 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.