Send money overseas

Send money overseas

Telegraphic transfers¹

Teachers Mutual Bank has partnered with American Express to offer you a variety of foreign currency services, so you have the confidence of security and convenience when sending and receiving money from overseas.   

A fee of $25 applies to international foreign currency telegraphic transfers, and $40 for international AUD telegraphic transfers.

Sending money overseas

A Telegraphic Transfer (TT) allows you to electronically send funds directly into your beneficiary’s account in a specified currency. TT's are the preferred method to make large value international payments as they are processed cost-effectively and securely in over 100 currencies.

You can choose for the funds to be either in Australian dollars or the currency of the destination country (note some restrictions may apply*). Please note that TT’s are not immediate — they can take anywhere between 2-5 working days to arrive, depending on the country of destination.

To arrange for a TT, complete the Telegraphic Transfer form before printing and posting, faxing or emailing to us.

Please note that TTs’ to overseas recipients are sent via a network of correspondent banks, each of which may levy their own charge or commission. This is outside of our control. As the fees and charges which may apply will vary according to the circumstances, we are unable to advise the amount of fees which may apply to any particular transaction. The amounts which may be charged depend on a number of factors, including (but not limited to) –

• the amount being transferred;
• the destination of the funds; and
• the number of intermediaries involved in the transaction.