Travel

Community First Credit Union, in association with Western Union Business Solutions, is the one-stop shop for international transactions of any size.

Timely 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 one of the world's leading non-bank providers of international payments and foreign exchange, Western Union Business Solutions works with a large number of financial institutions and corporate clients around the world to ensure overseas transactions are processed timely 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 timely, reliable and affordable ways.
 
 
 
 
 
All international money transfer products and services (other than Drafts) are offered to you by Community First Credit Union. Drafts are offered to you by Western Union Business Solutions (Australia) Pty Ltd (ACN 150 129 749; AFSL 404092) pursuant to its agreement(s) with Community First Credit Union. 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 the financial product is right for you. The Drafts PDS is available from any of our Financial Services Stores or on the compliance section of the WUBS website (http://business.westernunion.com.au/). WUBS is an operating division of the Western Union company. 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. This website 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 webpage.

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 timely, as the payment can go “straight through”.
 

Fees

Advantages over credit card payments

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 on your credit card statement.)

 

It can be cheaper to send money to ‘exotic’ countries (such as Thailand, India, Malaysia) 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 currency.

 

 

Outward telegraphic transfer (TT)

Community First Credit Union, in association with Western Union Business Solutions offers two options to send funds abroad:
 

Telegraphic Transfer (TT)

 
A Telegraphic Transfer (also known as a “Wire”) is an electronic transfer of funds directly credited to a beneficiary’s overseas bank account. A choice of more than 130 currencies is offered.
 
Why should I use a Telegraphic Transfer?
 
In most cases a TT is the most timely way to send funds abroad (a TT will normally take two to three business days to reach the beneficiary's bank).
 
Sending a TT in the beneficiary’s currency is usually more cost effective and helps ensure the funds are credited more timely, as the payment can go “straight through”. 
 
What details do I need to send a Telegraphic Transfer? 
 
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 also provide the beneficiary’s full street address.
 
Please note that TT’s are sent via a network of correspondent banks, which sometimes levy a small handling charge on your payment. Any such fees are totally out of Community First Credit Union and Western Union Business Solutions’ control. Given that a network of banks is used to complete your telegraphic transfer, the time it takes for your payment to be credited can not be guaranteed.
 
If you have decided that a TT is the payment method for you, please contact a store to organise your payment. 
 
In order to send your TT, you must complete all sections of the order form. Please note:
 
  • You must enter full street addresses (PO Box addresses are not acceptable)
  • Payments to all European, and certain other, countries require an International Bank Account Number (“IBAN”) – this may be obtained from the beneficiary
  • No symbols can be used in the beneficiary name (e.g. “&”, “/” etc)
  • We are unable to send funds to certain countries
 
You should refer to our schedule of fees and charges to view current fees.
 

Draft

 
How does a Draft work? 
 
A Draft is like a bank cheque made out in a foreign currency. It’s another way for you to make payments and settle a transaction overseas, especially if you don't have the receiver’s electronic bank account details. Drafts can be sent overseas via mail and are available in a wide range of currencies.
 
Why should I use a Draft?
 
  • Access to more than 24 currencies.
  • Can be enclosed with letters or invoices and forwarded direct to the beneficiary 
  • Should your Draft go missing in transit, upon your notification, Western Union Business Solutions will normally be able to put a stop on it and issue a replacement.
  • Offers security around payment – Drafts are a non-negotiable instrument and can only be credited to the beneficiary’s bank account, unless the beneficiary has endorsed the draft.
 
What transfer details do I need to supply?
 
For us to arrange the draft you will need to provide us the details of the person you're sending the money to (beneficiary).
 
Person's full name
Person's full street address
Any special instructions for the transfer
Currency and amount
 

 

Inward telegraphic transfer (TT)

 
What is 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 most timely way to receive funds from abroad (a TT will normally take two-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 us for credit to your account.
 
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 in a timely manner.
Wide range of currencies
 
What do I need to do to receive money to my account?
 
1. Click on this link - Receive money from overseas
 
2. Choose the country you are receiving funds from
 
3. Complete the relevant information on the online form and submit
 
4. You will be then presented with the PDF deposit instructions. Please save it for your reference and email it to your payee/ follow payment instructions
 
5. 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 COMMFIRST 01906-FI and your name in the bank’s reference field as specified in the PDF deposit instructions.
How to apply
You can find out more over the phone, or by visiting one of our Financial Services Stores.
Timely 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 one of the world's leading non-bank providers of international payments and foreign exchange, Western Union Business Solutions works with a large number of financial institutions and corporate clients around the world to ensure overseas transactions are processed timely 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 timely, reliable and affordable ways.
 
 
 
 
 
All international money transfer products and services (other than Drafts) are offered to you by Community First Credit Union. Drafts are offered to you by Western Union Business Solutions (Australia) Pty Ltd (ACN 150 129 749; AFSL 404092) pursuant to its agreement(s) with Community First Credit Union. 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 the financial product is right for you. The Drafts PDS is available from any of our Financial Services Stores or on the compliance section of the WUBS website (http://business.westernunion.com.au/). WUBS is an operating division of the Western Union company. 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. This website 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 webpage.
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 timely, as the payment can go “straight through”.
 
Fees

Advantages over credit card payments

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 on your credit card statement.)

 

It can be cheaper to send money to ‘exotic’ countries (such as Thailand, India, Malaysia) 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 currency.

 

 

Outward telegraphic transfer (TT)
Community First Credit Union, in association with Western Union Business Solutions offers two options to send funds abroad:
 

Telegraphic Transfer (TT)

 
A Telegraphic Transfer (also known as a “Wire”) is an electronic transfer of funds directly credited to a beneficiary’s overseas bank account. A choice of more than 130 currencies is offered.
 
Why should I use a Telegraphic Transfer?
 
In most cases a TT is the most timely way to send funds abroad (a TT will normally take two to three business days to reach the beneficiary's bank).
 
Sending a TT in the beneficiary’s currency is usually more cost effective and helps ensure the funds are credited more timely, as the payment can go “straight through”. 
 
What details do I need to send a Telegraphic Transfer? 
 
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 also provide the beneficiary’s full street address.
 
Please note that TT’s are sent via a network of correspondent banks, which sometimes levy a small handling charge on your payment. Any such fees are totally out of Community First Credit Union and Western Union Business Solutions’ control. Given that a network of banks is used to complete your telegraphic transfer, the time it takes for your payment to be credited can not be guaranteed.
 
If you have decided that a TT is the payment method for you, please contact a store to organise your payment. 
 
In order to send your TT, you must complete all sections of the order form. Please note:
 
  • You must enter full street addresses (PO Box addresses are not acceptable)
  • Payments to all European, and certain other, countries require an International Bank Account Number (“IBAN”) – this may be obtained from the beneficiary
  • No symbols can be used in the beneficiary name (e.g. “&”, “/” etc)
  • We are unable to send funds to certain countries
 
You should refer to our schedule of fees and charges to view current fees.
 

Draft

 
How does a Draft work? 
 
A Draft is like a bank cheque made out in a foreign currency. It’s another way for you to make payments and settle a transaction overseas, especially if you don't have the receiver’s electronic bank account details. Drafts can be sent overseas via mail and are available in a wide range of currencies.
 
Why should I use a Draft?
 
  • Access to more than 24 currencies.
  • Can be enclosed with letters or invoices and forwarded direct to the beneficiary 
  • Should your Draft go missing in transit, upon your notification, Western Union Business Solutions will normally be able to put a stop on it and issue a replacement.
  • Offers security around payment – Drafts are a non-negotiable instrument and can only be credited to the beneficiary’s bank account, unless the beneficiary has endorsed the draft.
 
What transfer details do I need to supply?
 
For us to arrange the draft you will need to provide us the details of the person you're sending the money to (beneficiary).
 
Person's full name
Person's full street address
Any special instructions for the transfer
Currency and amount
 

 

Inward telegraphic transfer (TT)
 
What is 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 most timely way to receive funds from abroad (a TT will normally take two-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 us for credit to your account.
 
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 in a timely manner.
Wide range of currencies
 
What do I need to do to receive money to my account?
 
1. Click on this link - Receive money from overseas
 
2. Choose the country you are receiving funds from
 
3. Complete the relevant information on the online form and submit
 
4. You will be then presented with the PDF deposit instructions. Please save it for your reference and email it to your payee/ follow payment instructions
 
5. 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 COMMFIRST 01906-FI and your name in the bank’s reference field as specified in the PDF deposit instructions.

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