Travel

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

Sending payments overseas

Community First Credit Union, in association with Western Union Business Solutions offers two options when sending payments overseas:
 

International Payments Service

 
Need to send money overseas?
 
Did you know that you can send money from your bank account to an overseas bank account via our International Payments Service, otherwise known as a "Telegraphic Transfer" or "Wire".
 
Benefits to you:
 
  • Funds are normally credited within 2-3 business days*
  • No surprise overseas bank fees**
  • Cost-effective; you can potentially save money by sending in your beneficiary's local currency**
 
What you need to send money overseas:
 

You will need to provide the full name of your beneficiary and 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. Include the beneficiary's bank's code (sort code, SWIFT address, or routing number).**

 
You should refer to our schedule of fees and charges to view current fees.

 

© 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.

*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.

**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.

^ 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.

Receiving money from overseas - inwards

Incoming International Payments Service

 
Receiving payments from overseas? 
 
With our Incoming International Payments Service powered by Western Union Business Solutions, you can receive money directly into your nominated bank account from almost anywhere in the world, in over 35 countries. 
 
Benefits to you:
 
  • We do not charge beneficiary deduct fees*
  • Timely and reliable - funds are usually received in full in 2-3 business days**
  • Exchange rate guarantee. Lock in a competitive exchange rate for 72 hours***
  • Your sender can pay you in their local currency, you can still receive in AUD

 

Why use our Incoming Paymants service over SWIFT payments

  • SWIFT transactions typically incur fees on incoming payments
  • SWIFT payments can take up to 60 days to clear

 

Follow the simple steps to receive your money from overseas:

 

Community First members can simply complete this form

 
You should refer to our schedule of fees and charges to view current fees.
 
 

© 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.

*Payments may be sent via a network of correspondent and/or intermediary banks. In some instances, such banks may charge a small handling fee, which is out of the control of WUBS or <insert FI name>.

**Funds are usually received by <insert FI name> within 2-3 business days, funds will then be allocated to your nominated account. There is no delivery period guarantee. Some currencies may take longer than others to process.

***Periodic comparisons are made against publicly available rates for comparable services from 4 Australian Banks. Funds must be received by Western Union Business Solutions within 72 hours of the rate quote in accordance with payment instructions for the rate guarantee to be honoured.

Foreign Cheques

Receiving Foreign Cheques? 

 
If you have received a cheque in a foreign currency, you can have it converted into Australian Dollars and deposited into your Australian bank account.*
 
Typically, personal, bank, company or government foreign currency cheques can be converted from over 8 currencies including USD, AUD, NZD, CAD, GBP, Euro, HKD and SFD. 
 
Cheques are processed as either:
 
  • Cash Letters
  • Collection basis

 

The amount of the cheque determines if it is to be processed as a cash if it is to be processed as a cash letter or collection. If you would like to know what our threshold for Foreign Cheques is, please contact us. 

 

Need more information? Talk to us today.

 

Things to note:

 

  • At the time of the cheque being converted from the foreign currency and deposited into your account, we will deduct any applicable fees
  • Foreign Cheques can take up to 8 weeks or more to clear
  • Exchange rate is determined once the credit is received

 

Do you need the funds quicker?

 

As an alternative, ask the person sending you money to send to you via our Incoming International Payments service. This option may save you money in fees and help you to get the money within 2-3 business days.**

 

 

© 2019 Western Union Holdings Inc. All rights reserved.  

Community First Credit Union Ltd has engaged Western Union Business Solutions (Australia) Pty Limited (ACN 150 129 749; AFSL 404092) trading as Western Union Business Solutions (“WUBS”) to assist with processing foreign currency cheques. WUBS is a business unit of The Western Union Company. Please note that fees, charges and terms and conditions apply and may vary depending upon the financial product. 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

*In some instances intermediary banks may levy additional fees and / or charges. This is beyond the control of Western Union Business Solutions.

**Funds are usually received within 2 to 3 business days after receipt of funds by Western Union Business Solutions in accordance with payment instructions. There is no delivery guarantee as some currencies may take longer than others to process.

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.

 

 

Foreign exchange rate calculator

Our handy calculator is available for you to calculate foreign exchange rates in a wide variety of different currencies. To use the calculator click here.

How to apply
You can find out more over the phone, or by visiting one of our Financial Services Stores.
Sending payments overseas
Community First Credit Union, in association with Western Union Business Solutions offers two options when sending payments overseas:
 

International Payments Service

 
Need to send money overseas?
 
Did you know that you can send money from your bank account to an overseas bank account via our International Payments Service, otherwise known as a "Telegraphic Transfer" or "Wire".
 
Benefits to you:
 
  • Funds are normally credited within 2-3 business days*
  • No surprise overseas bank fees**
  • Cost-effective; you can potentially save money by sending in your beneficiary's local currency**
 
What you need to send money overseas:
 

You will need to provide the full name of your beneficiary and 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. Include the beneficiary's bank's code (sort code, SWIFT address, or routing number).**

 
You should refer to our schedule of fees and charges to view current fees.

 

© 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.

*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.

**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.

^ 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.

Receiving money from overseas - inwards

Incoming International Payments Service

 
Receiving payments from overseas? 
 
With our Incoming International Payments Service powered by Western Union Business Solutions, you can receive money directly into your nominated bank account from almost anywhere in the world, in over 35 countries. 
 
Benefits to you:
 
  • We do not charge beneficiary deduct fees*
  • Timely and reliable - funds are usually received in full in 2-3 business days**
  • Exchange rate guarantee. Lock in a competitive exchange rate for 72 hours***
  • Your sender can pay you in their local currency, you can still receive in AUD

 

Why use our Incoming Paymants service over SWIFT payments

  • SWIFT transactions typically incur fees on incoming payments
  • SWIFT payments can take up to 60 days to clear

 

Follow the simple steps to receive your money from overseas:

 

Community First members can simply complete this form

 
You should refer to our schedule of fees and charges to view current fees.
 
 

© 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.

*Payments may be sent via a network of correspondent and/or intermediary banks. In some instances, such banks may charge a small handling fee, which is out of the control of WUBS or <insert FI name>.

**Funds are usually received by <insert FI name> within 2-3 business days, funds will then be allocated to your nominated account. There is no delivery period guarantee. Some currencies may take longer than others to process.

***Periodic comparisons are made against publicly available rates for comparable services from 4 Australian Banks. Funds must be received by Western Union Business Solutions within 72 hours of the rate quote in accordance with payment instructions for the rate guarantee to be honoured.

Foreign Cheques

Receiving Foreign Cheques? 

 
If you have received a cheque in a foreign currency, you can have it converted into Australian Dollars and deposited into your Australian bank account.*
 
Typically, personal, bank, company or government foreign currency cheques can be converted from over 8 currencies including USD, AUD, NZD, CAD, GBP, Euro, HKD and SFD. 
 
Cheques are processed as either:
 
  • Cash Letters
  • Collection basis

 

The amount of the cheque determines if it is to be processed as a cash if it is to be processed as a cash letter or collection. If you would like to know what our threshold for Foreign Cheques is, please contact us. 

 

Need more information? Talk to us today.

 

Things to note:

 

  • At the time of the cheque being converted from the foreign currency and deposited into your account, we will deduct any applicable fees
  • Foreign Cheques can take up to 8 weeks or more to clear
  • Exchange rate is determined once the credit is received

 

Do you need the funds quicker?

 

As an alternative, ask the person sending you money to send to you via our Incoming International Payments service. This option may save you money in fees and help you to get the money within 2-3 business days.**

 

 

© 2019 Western Union Holdings Inc. All rights reserved.  

Community First Credit Union Ltd has engaged Western Union Business Solutions (Australia) Pty Limited (ACN 150 129 749; AFSL 404092) trading as Western Union Business Solutions (“WUBS”) to assist with processing foreign currency cheques. WUBS is a business unit of The Western Union Company. Please note that fees, charges and terms and conditions apply and may vary depending upon the financial product. 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

*In some instances intermediary banks may levy additional fees and / or charges. This is beyond the control of Western Union Business Solutions.

**Funds are usually received within 2 to 3 business days after receipt of funds by Western Union Business Solutions in accordance with payment instructions. There is no delivery guarantee as some currencies may take longer than others to process.

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.

 

 

Foreign exchange rate calculator

Our handy calculator is available for you to calculate foreign exchange rates in a wide variety of different currencies. To use the calculator click here.

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