International money transfer - Community First Credit Union
|Quick and affordable international payments|
|Do you need to send money overseas to family, friends or business suppliers? Do you want to receive an international payment from family members or your trading partners?|
|Community First Credit Union, in association with Western Union® Business Solutions, is the one-stop shop for international transactions of any size. As the leading non-bank provider of international payments and foreign exchange, Western Union Business Solutions works with thousands of financial institutions and corporate clients around the world to ensure overseas transactions are processed quickly and reliably. Send money to 200 countries in more than 130 currencies. |
|Working with a specialist in international payments and foreign exchange, means we can help you send and receive money from friends, family and business partners in quick, reliable and affordable ways.|
|Did you know....|
|By sending your TT in the currency of the country it is being sent to, you generally receive greater certainty on your payment – you can effectively “lock-in” the exchange rate, and know exactly how much is being transferred. If you were to send the funds in Australian Dollars, it may be difficult to find out the exchange rate that the overseas bank will apply, and hence it may be difficult to find out how much will be credited to the beneficiary’s account.|
|Sending a TT in the beneficiary’s currency usually ensures the funds are credited more quickly, as the payment can go “straight through”.|
|The fee to send a TT in Australian Dollars can be higher. Paying by credit card may actually increase the cost of your international bills. When paying by credit card it may be difficult to find out how much it will cost you when the foreign exchange rate and other fees are applied to your transaction by the correspondent banks. (You may only find out when you see the final cost in your credit card statement.)|
|It can be cheaper to send money to ‘exotic’ countries (such as Thailand, India, Malaysia and so on) in their local currencies. When sending money in a local currency you can lock in the rate. When you send a transaction in Australian Dollars you may not know what a foreign bank will charge and what foreign exchange rate they will apply.|
|If there is a problem with the TT, it is usually easier to trace if the funds have been converted from Australian Dollars to the beneficiary’s currency.|
|We generally only suggest sending funds in Australian Dollars if the beneficiary holds an AUD account with the overseas bank; in all other cases, we suggest funds should be sent in the beneficiary’s (i.e. beneficiary’s) currency.|
|How do I send money overseas?|
|Community First Credit Union, in association with Western Union Business Solutions offers two options to send funds abroad:|
|How do I arrange an international money transfer through Community First?|
|Simply call 1300 13 22 77 or visit your nearest Financial Services Store.|
|Alternatively, if you are completing a telegraphic transfer, you can download an order form here, fill it in online or print it out. Please fax the completed form to Community First Credit Union to 02 9735 1661 or email it to email@example.com, and not to Western Union Business Solutions.|
|The financial products (Drafts and Telegraphic Transfers) referred to in this communication are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 40409, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with your Financial Institution. 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 Drafts PDS is available for each financial product issued by WUBS from your Financial Institution or on the compliance section of our website http://business.westernunion.com.au/about/compliance/. 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 solely 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.