Send money overseas with RACQ Bank

At RACQ Bank, we make it easy for you to send money overseas. Whether you’re buying from an international supplier, or you’ve got friends and family abroad, you can make an international transfer with a Telegraphic Transfer. RACQ Bank can ensure your international transfers needs are met.

How to send money overseas

  • icon-step-1
    Open an RACQ Bank Transaction Account

    You will need to have an RACQ Bank Everyday Account or Advantage Plus Account to arrange the transfer.

    Compare bank accounts
  • icon-step-2
    Have your payee’s details ready

    Confirm the bank details of the person or business you’re transferring to. You’ll need the following information from your recipient: 

    • Their full name and street address (not a PO Box) 
    • The International Bank Account Number (IBAN) or bank account number2
    • A SWIFT code or Bank Identifier Code (BIC). Or if not available, the full bank address. 
    • Any other information they have like sort code or routing code.
  • icon-step-3
    Visit us in store

    Visit your nearest RACQ store and our friendly team can help you arrange the transfer.

    Find a store
  • icon-step-4
    You’re transfer is made

    Once the transfer has been made, the funds are usually received on average within 5 business days, although this does depend on the banks involved as well as the currency and country.1 

Telegraphic Transfer

Telegraphic Transfer – also known as wire transfer – allows you to transfer money to an overseas bank account in 200 countries and territories with over 140 currencies available. Funds are deposited directly to the beneficiaries bank account.

  • Fast and reliable
    With Telegraphic Transfers, funds are credited directly to the beneficiary’s account. In most cases a Telegraphic Transfer is the quickest way to send funds internationally, taking an average of 5 business days, although this does depend on the banks involved as well as the currency and country.1
  • Cost effective
    A Telegraphic Transfer is a cost-effective way of sending large amounts of money overseas. Check out the Foreign Exchange Fees section of our Fees and Charges Schedule for more information on Overseas Telegraphic Transfer fees.3
  • Wide range of countries and currencies
    • Send in over 140 currencies
    • Send to 200 countries and territories

Frequently asked questions about sending money overseas

Help centre

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Things to note

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

RACQ Bank has entered into contractual arrangements with Convera Australia Pty Ltd (ACN 150 129 749 AFSL 404092 formerly known as Western Union Business Solutions (Australia) Pty Ltd), to assist it with processing foreign currency cheques and in fulfilling certain foreign exchange and payment services. The relationship relating to the services described is solely between you and RACQ Bank. Fees and charges may apply, please refer to the terms and conditions issued by RACQ Bank, which will vary depending upon the financial product.

Any advice provided by RACQ Bank is general in nature and does not take into account your personal objectives, financial situation or needs. Convera Australia Pty Ltd does not give you any advice, general, personal or otherwise. 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.

1Funds are usually transferred from your account by the next business day. The beneficiary bank will then allocate the funds to the beneficiary’s account. There is no delivery time guarantee. Some currencies may take longer than others to process.

2IBAN is used in some countries to uniquely identify a customer’s bank account. An IBAN is necessary for payments being sent from Australia to an IBAN mandatory country.

3Please 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.