Fine print - Foreign cash and Travel insurance

Foreign cash

Teachers Mutual Bank Limited (ABN 30 087 650 459 AFSL/Australian Credit Licence 238981) issues Foreign Cash, American Express^® Travellers Cheques and Foreign Cash Conversion through Travelex Limited (ABN 36 004 179 953, AFSL 222444). The issuer of the Travellers Cheques is American Express Travel Related Services Company^® Inc. (ABN 15 000 618 208, AFSL 237996). Disclosure documents are available for Travellers Cheques and can be obtained at tmbank.com.au or by calling 13 12 21 8am to 7pm, weekdays or 9am to 3pm, Saturday or from any office.

Foreign cash and Travellers cheques are issued by American Express Travel Related Services Company^®, Inc and certain related entities ABN 15 000 618 208, AFSL 237996.

Please read the Disclosure Document and consider the appropriateness of travellers cheques in relation to your individual requirements before purchasing American Express^® travellers cheques.

Converting foreign currency to Australian

1. You can convert most foreign currencies through Teachers Mutual Bank including:
   
   (a) Notes (coins and some small denominations will not be converted)
   
   (b) Travellers cheques (if signed in front of a Teachers Mutual Bank cashier); and
   
   (c) Personal or company cheques (if less than six months old and payable to the account holders or endorsed; United States Dollar cheques must be endorsed). 


2. Where the amount converted is equivalent to less than $25,000 (AUD), the conversion will be made at the daily buying exchange rate determined by Travelex or American Express^®, and will only be paid into your Teachers Mutual Bank account. For conversions received after 2.30pm, the following working day’s rate may apply. The exchange rate is determined by the cut off time of the supplier. 


3. Where the amount is converted to $25,000 (AUD) or more the cheque will be sent on a collection basis to the overseas provider. Travelex determines the exchange rate upon receipt of the cheque, while American Express^® determines the exchange rate on the day of the deposit.


4. If the amount converted is:
   (a) less than $5,000 (AUD) the funds should be credited to your account within 24 to 48 hours. Please note that the funds will not be cleared for up to 10 weeks. If the cheque is dishonoured, we will recover the funds credited to your account from you, including the paying bank dishonour fees and any interest accrued on the deposit from the day the proceeds were credited to your account.
   
   (b) more than $5,000 (AUD) but less than $25,000 (AUD) the funds should be credited to your account within 24 to 48 hours but will not be available to draw against until the funds are cleared, which can take up to 10 weeks. If the cheque is dishonoured, we will recover the funds credited to your account from you, including the paying bank dishonour fees and any interest accrued on the deposit from the day the proceeds were credited to your account.
   
   (c) $25,000 (AUD) or more, we will not credit the funds to your account until 45 working days after the deposit has been made. If the cheque is subsequently dishonoured, we will recover the funds credited to your account from you, including the paying bank dishonour fees and any interest accrued on the deposit from the day the proceeds were credited to your account.
   
   Note: We reserve the right to clear cheques on a collection basis regardless of amount. 


5. Fees and charges will apply and be debited where payable to the relevant Teachers Mutual Bank account. A Fees and Charges brochure and relevant account Terms and conditions are available from Teachers Mutual Bank.

Travel insurance

This insurance is underwritten by certain Underwriters at Lloyds. Cerberus Special Risks Pty Limited has been authorised by the underwriters to issue, vary and renew travel insurance on their behalf and to handle claims for them. Cerberus has appointed SureSave Pty Limited to assist it to manage its insurance activities. A Product Disclosure Statement (PDS) can be requested on diplomatravel.com.au or by calling 13 12 21 9am to 5pm, weekdays or from our Homebush or Rooty Hill offices. You should read our and consider the relevant PDS before deciding whether to acquire this insurance product.

Cerberus Special Risks Pty Limited ABN 81 115 932 173 AFS Licence No. 304861. SureSave Pty Ltd ABN 99 092 431 788. Authorised Representative No 339902.