Qudos Bank has partnered with Western Union to bring our customers an easy efficient way to send foreign currency from your Qudos Bank account to overseas accounts.
Benefits of sending funds with Western Union:
Funds can be securely transferred from your Qudos account to an overseas account.
Funds are normally credited within 2-3 working days1
No beneficiary deduct fee2
Sending money overseas in foreign currency also has benefits as you can avoid any hidden fees.
Why send in foreign currency?
Sending in foreign currency means you have clarity about the exchange rate
You can send in over 130 local currencies
Know how much is going to be received before you send
With Western Union Business Solutions you will pay a $30 up front transfer fee.
All you need to send money overseas is the recipients full name, street address, complete name and address of the beneficiary bank and their IBAN (international Bank Account Number) if you are sending to Europe, Account number for other countries and the beneficiaries bank code (sort code, SWIFT, address or routing number) and clear purpose of payment (some countries due to regulatory requirements may require additional information).
If you are moving overseas, doing business or simply want to send a gift visit qudosbank.com.au or call 1300 747 747 to find out how.
1Funds are usually received by the beneficiary’s bank in 2 to 3 business days however there is no delivery period guarantee.
2Please 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.
Qudos Bank has entered into contractual arrangements with Western Union Business Solutions (Australia) Pty Ltd (ACN 150 129 749; AFSL 40409) (“WUBS”) whereby WUBS assists in fulfilling certain foreign exchange and payment services offered by Qudos Bank to its customers (including telegraphic transfers). WUBS is part of an operating division of the Western Union Company. Qudos Bank has a revenue share arrangement with WUBS, where Qudos Bank receives a percentage of the foreign exchange margin revenue and fee revenue (where applicable) for the relevant foreign exchange service. See our Financial Services Guide for more details.
Fees and charges and terms and conditions apply. It is important for you to consider the relevant terms and conditions and Qudos Bank’s Financial Services Guide and Fees & Charges brochure before you decide whether or not this financial product is right for you.
This blog post has been prepared solely for informational purposes and does not in any way create any binding obligations or make any representations, warranties or conditions of any kind, express or implied. Any advice is general in nature and does not take account of your personal objectives, financial situation or needs. Because of that, you should, before acting on the advice, consider its appropriateness to your circumstances.
Published April 2019