Send and receive money internationally

Transcription

1 Send and receive money internationally If you re sending money overseas or receiving an international payment Heritage can help. Talk to us today.

2 Contents Sending money overseas now you have a choice 4 How do I send money overseas? 6 Sending money via Money in Minutes 1 6 Sending money via Telegraphic Transfer 7 Sending money via Draft 8 Money in Minutes 1, TT and Draft outgoing currencies 9 How do I receive money from overseas? 11 Inward Telegraphic Transfer 12 Conversion of Foreign Draft/Cheque 13 Real Time Gross Settlement 13 List of incoming currencies 14 2

3 If you re sending money to family, friends or business suppliers and merchants overseas, or receiving an international payment Heritage can help. Working with our specialist partner Western Union, we can help you send and receive money around the world quickly, reliably and affordably. 3

4 Sending money overseas now you have a choice We offer three different ways to send money overseas for family and friends or business. The table below highlights the key differences between each of these options: Money in Minutes 1 What services are available? Cash payment through Western Union s agents without the need for a bank account Locations where the funds can be received? More than 498,000 agent locations in 200+ countries and territories 2 Time taken to receive funds? Within minutes 1 What is the maximum amount that can be sent? What does the sender need to provide to send the funds? What does the recipient need to collect the funds? Where can I conduct the transaction? Depends on the country the funds are being sent to. Limits may apply The receiver s name and address, applicable photo ID 4 The recipient needs to provide the Money Transfer Control Number (MTCN), sender s name, approximate amount, sending country and applicable ID at a Western Union Agent location Any Heritage branch 4

5 Telegraphic Transfer Funds are deposited from your account directly into the recipient s bank account Bank accounts in 200+ countries and territories Draft (Foreign Cheque) A cheque made out in a foreign currency. You send the cheque to the recipient, who then deposits the funds into their account n/a Usually 2-3 days Unlimited n/a Unlimited The name, bank account details and bank address of the receiver Nothing. The funds are deposited directly into the receiver s account The receiver s name Nothing. However the receiver will need to deposit the cheque into their account Any Heritage branch Any Heritage branch 5

6 How do I send money overseas? Sending money via Money in Minutes 1 The Western Union Money in Minutes 1 service allows you to send cash to more than 498,000 locations in over 200 countries and territories around the world 2, with the funds available for collection by the receiver in minutes. Available in more than 120 currencies, this service is perfect if you are looking to send money fast. The receiver just needs to collect it from a local Western Union Agent. Why should I send Money in Minutes 1? Money is available for collection minutes after being sent The receiver does not need to have a bank account The receiver can pick up the money in cash No receiver fees 3. What details do I need to send Money in Minutes 1? A government-issued photo ID (eg passport, driver s licence, proof of age card); you may also be required to present additional documents The country the money is being sent to The name and residential address of the receiver A Heritage transaction account that the money will be transferred out of. How do I send Money in Minutes 1? Drop into your local branch and staff will be able to arrange for you. 6

7 Sending money via Telegraphic Transfer (TT) Available in more than 130 currencies, an Outward Telegraphic Transfer (also known as a Wire ) is an electronic transfer of funds directly credited to a beneficiary s overseas bank account. This enables you to respond swiftly to a special deal or financial agreement efficiently and with confidence. Why should I use a TT? The money is transferred straight into the receiver s bank account You can send a payment in over 130 currencies, providing certainty on the exchange rate Sending a TT in the beneficiary s currency is usually more cost effective and helps ensure the funds are credited more quickly, as the payment can go straight through 5. What details do I need to send a TT? To request a Telegraphic Transfer, you will need to provide your residential address and the residential address for the receiver, as well as details of the account that the funds will be transferred to. This includes: Beneficiary Bank Full Name Beneficiary Bank Full Address Account Number Beneficiary s Full Name Beneficiary s Residential Address Purpose (Reference). 7

8 You may also need to provide some additional information when sending a Telegraphic Transfer to the following countries: Europe: International Bank Account number (IBAN) the IBAN incorporates the bank, sort code and account number United Kingdom: IBAN New Zealand: Bank code Malaysia: National ID number or Company number USA: ABA or routing code. How do I send a TT? Drop into your local branch and staff will be able to arrange for you. Sending money via Draft 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 bank account details. Drafts can be sent overseas via mail and are available in 24 different currencies. When should I use a Draft? When you don t know the recipient s account details When you re sending a small amount of money When you want to send a payment by mail with a letter, card or invoice. How do I send a Draft? Drop into a branch and the staff will be able to arrange for you. 8

9 Money in Minutes 1, TT and Draft outgoing currencies africa MM TT D MM TT D Algerian Dinar Malawi Kwacha Angola Kwanza* Mauritanian Ouguiya Botswana Pula Mauritius Rupee Burundi Franc* Moroccan Dirham Cape Verde Escudo Mozambique Metical Central African States Namibian Dollar Central African States Nigerian Naira* Comoros Franc Rwandan Franc* Djibouti Franc* Egyptian Pound Sao Tome e Principe Dobra Eritrea Nakfa Seychelles Rupee Ethiopia Birr Sierra Leone Leone Gambian Dalasi South African Rand Ghanian Cedi South Sudan Pound* Guinea Republic Franc* Sudanese Pound Guyanese Dollar Swaziland Lilangeni Kenyan Shilling Tanzanian Shilling Lesotho Malati Tunisian Dinar Libyan Dinar Ugandan Shilling Madagascar Ariary Zambia Kwacha asia MM TT D MM TT D Afghanistan Afghani* Laos Kip Azerbaijan Manat Macau Pataca Bangladesh Taka Malaysian Ringgit Bhutan Ngultram Maldives Rufiyaa* Brunei Dollar Myanmar Kyat Cambodian Riel Nepal Rupee Chinese Yuan* Pakistan Rupee Georgian Lari Philippine Peso* Hong Kong Dollar* Singapore Dollar Indian Rupee Indonesian Rupiah Sri Lanka Rupee Japanese Yen Taiwanese Dollar Kazakhstan Tenge* Thai Baht Kyrgyzstani Som* Uzbekistan Sum Korean Won Vietnamese Dong Middle East MM TT D MM TT D Bahrain Dinar* Qatari Rial Iraqui Dinar* Saudi Arabian Riyal Israeli Shekel Syrian Pound* Jordanian Dinar* Kuwaiti Dinar Turkish Lira*^ Lebanese Pound UAE Dirham* Omani Rial* Yemeni Rial* 9

10 europe MM TT D MM TT D Albanian Lek*^ Icelandic Krona Armenian Dram Latvian Lats* Azerbaijan Manat* Lithuanian Litas Bosnian & Herzegovina Convertible Mark*^ Macedonian Denar Moldovan Leu*^ British Pound Norwegian Krone British Pound on Switzerland Netherlands Antillean Bulgarian Lev*^ Guilder Croatian Kuna Polish Zloty* Czech Republic Romanian Leu*^ Koruna* Russian Ruble* Danish Krone Serbian Dinar^ Euro* Swedish Krona Gibraltar Pound Swiss Franc Hungarian Forint* Ukrainian Hryvnia north america MM TT D MM TT D Canadian Dollar United States Dollar Mexican Peso Australian Dollar^ Fiji Dollar French Pacific Franc New Zealand Dollar Papua New Guinea Kina oceania MM TT D MM TT D Samoan Tala Solomon Islands Dollar Tahitian Franc Tongan Pa anga Vanuatu Vatu South & Central America, the Caribbean MM TT D MM TT D Argentine Peso Guatemalan Quetzal Aruban Florin Guyana Dollar Bahamian Dollar Haitian Gourde Barbados Dollar Honduran Lempira Belize Dollar Jamaican Dollar Bermudian Dollar Nicaraguan Cordoba Bolivian Boliviano* Panamanian Balboa Cayman Island Dollar* Paraguay Guarani* Chilean Peso Peruvian Nuevo Sol* Colombian Peso Suriname Dollar Costa Rican Colon Trinidad & Tobago Dominican Peso Dollar Eastern Caribbean Uruguayan New Peso* Dollar Venezuela Bolivar Falkland Islands Pound Fuerte Note: This currency list is current at December 2013 and subject to change. We can send USD or EUR to 200+countries. Please ask your branch staff for further information. * Money in Minutes 1 (MM) available in these regions in USD also. ^ Money in Minutes 1 available in these regions in EUR also. 10

11 How do I receive money from overseas? Heritage offers three options to receive funds from abroad: Inward Telegraphic Transfer (TT) Conversion of Foreign Draft/Cheque Real Time Gross Settlement (SWIFT). 11

12 Inward Telegraphic Transfer An Inward Telegraphic Transfer (also known as an Inward Wire ) is an electronic transfer of funds directly credited to your account. In most cases a telegraphic transfer is the quickest way to receive funds from abroad. The remitter simply deposits the funds in their own currency into the local Western Union account. Western Union converts the funds into Australian Dollars before forwarding to Heritage 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. Please note that Heritage and Western Union Business Solutions do not apply a fee. However, in some instances intermediary banks may levy a fee. Better value for senders in most cases the transaction is completed as a local transfer. Peace of mind senders can be confident that their payments are being handled by foreign exchange specialists with reliable systems ready to deliver their payments fast. What do I need to do to receive money to my account? Complete the online form available from the Heritage website and provide the deposit instructions to the sender. Visit Foreign-Exchange/Inward-Telegraphic-Transfers for full instructions. 12

13 Conversion of Foreign Draft/Cheque If you have received a Draft/Cheque in a foreign currency, we will usually be able to convert it into Australian Dollars for credit to your account. Typically, personal, bank, company or government foreign currency cheques can be converted (although money orders are not accepted). However, please note that some restrictions do apply. Real Time Gross Settlement (SWIFT) This option is used where the foreign bank has a correspondent Australian bank. Funds can be sent from an overseas financial institution directly to a Heritage account via Real Time Gross Settlement, which is often referred to as SWIFT. To use this option, the overseas bank will need to have a correspondent Australian bank, who can convert the funds to Australian Dollars (when applicable) and on forward the value in AUD currency to Heritage. The following information must be provided to the overseas bank for a SWIFT transfer: SWIFT code: HBSLAU4T Account Name: (Full account name details) Account Number (e.g do not include reference to S type) BSB: 638-xxx Bank: Heritage Bank Address: 400 Ruthven Street, Toowoomba Qld 4350, Australia 13

14 List of incoming currencies Kenyan Shilling Moroccan Dirham Namibian Dollar Hong Kong Dollar Japanese Yen Singapore Dollar Thai Baht Australian Dollar New Zealand Dollar Tahitian Franc Vanuatu Vatu British Pound Czech Republic Koruna Danish Krone Euro Lithuanian Litas Norwegian Krone Polish Zloty Swedish Krona Swiss Franc Bahrain Dinar Jordanian Dinar Omani Rial Qatari Rial Saudi Arabian Riyal UAE Dirham Canadian Dollar Mexican Peso United States Dollar africa asia Oceania Europe Middle East north america TT TT TT TT TT TT Note: This currency list is current at December 2013 and subject to change. Speak to your local branch about accepted incoming foreign cheques currencies. 14

15 1 Money in Minutes: Funds are generally available after 30 minutes however, they may be delayed or services unavailable based on certain transaction conditions, including amount sent, destination country, currency availability, regulatory and foreign exchange issues, required receiver action(s), identification requirements, Agent location hours, differences in time zones, or selection of delayed options. Additional Restrictions may apply. See Money Transfer Form in branch for details. 2 Agent Network data as at 30 September Applicable to person-to-person money transfer service. In addition to the transfer fee. Western Union makes money from changing your local currency into foreign currency. Subject to applicable taxes, if any. 4 Types of identification documentation required will vary between each country. 5 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, and payment delays, are out of our control. Certain financial products (namely wires and telegraphic transfers) are provided by Western Union Business Solutions (Australia) Pty Ltd ABN AFSL , trading as Western Union Business Solutions ( WUBS ), to Heritage Bank pursuant to its agreement(s) with Heritage Bank. Other financial products (namely drafts) are provided directly by WUBS to you, pursuant to its agreement(s) with Heritage Bank. Please note that fees & charges and terms & conditions apply and may vary depending upon the financial product. If you are seeking to acquire financial products directly from WUBS (for example drafts), it is important for you to consider the relevant Product Disclosure Statement ( PDS ) and any other relevant WUBS documents before you decide whether or not that financial product is right for you. A PDS is available for each financial product issued directly by WUBS to you, either from Heritage Bank or on the compliance section of the WUBS website (business.westernunion.com.au). The relationship relating to certain financial products (namely wires and telegraphic transfers) is solely between you and Heritage Bank. The relationship relating to certain other financial products (namely drafts) is solely between you and WUBS. Any advice provided is general in nature and does not take into account your personal objectives, financial situation or needs. WUBS and Heritage do not give you any advice, general, personal or otherwise. Any advice provided, is provided by 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 an operating division of the Western Union Company. WUBS is the issuer of the financial products (where applicable) referred to in this communication. 15

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