Teachers Mutual Bank provides a one-stop-shop for all your travel services.
Foreign currency cheques
The conversion of Foreign Currency cheques is carried out by Travelex ABN 3600 4179 953 AFSL 222444. The Bank also has a revenue sharing arrangement with Travelex. The Bank receives 20% of the net profit made by Travelex in converting from a foreign currency to AUD. Exchange rates are set by the paying bank and Travelex.
1. A $25 fee applies for each foreign currency cheque that converts to the equivalent of $10,000 AUD and under. For cheques converting to over $10,000 AUD, a $50 fee applies.
2. Available for selected foreign currencies only. Contact us here for a complete list of currencies available for conversion.
3. Foreign currency cheques $10,000 AUD and under to be deposited into account within 7-10 working days. Foreign currency cheques over $10,000 AUD to be deposited once funds have been received from the issuing bank. This can take up to 45 working days.