Telegraphic transfers

Transfer large sums of money to an overseas account or receive funds from an overseas bank.

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Transfer money to an overseas bank

With telegraphic transfers you have access to over 200 countries and territories, and more than 140 currencies.

You can make telegraphic transfers at your local branch.

  1. Download and complete a Telegraphic Transfer Order Form (Word, 305KB)
  2. Take the completed form to your nearest People First Bank branch. People First Bank may request additional information to complete your transfer.

 

What to include

The following details in the form must be clearly communicated and 100% accurate. Any errors in the information below may increase the time taken for your payee to receive funds. 

  • Beneficiary’s full name (the person overseas you are sending money to and may also be referred to as the 'payee') 
  • Beneficiary’s full residential address 
  • Beneficiary bank full name
  • Beneficiary bank full address
  • Account number
  • SWIFT/BIC for the recipient bank
  • Purpose (Reference)

Please ensure you double check that the account numbers provided are correct. People First Bank do not cross check the account number with the account name submitted. We rely on the account number as your instructions to transfer money to that bank account. It may not be possible to recover funds from an unintended recipient if you provide incorrect account details.

 

Country-specific requirements

For transfer to accounts in the regions or countries below, make sure you have the following information ready.

  • Europe: International Bank Account number (IBAN) 
  • United Kingdom: IBAN
  • New Zealand: Bank code     
  • China: A reason for sending funds
  • Malaysia: National ID number or Company number
  • USA: ABA or routing code
  • Canada: Transit Code
Telegraphic Transfer Form
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Convera for international payments

People First Bank has partnered with Convera to assist with processing international payments as an alternative to traditional international bank transfers.
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Receive money from an overseas bank

Convera provides an Inward Payments Service for receiving telegraphic transfers. An Inward Telegraphic Transfer (also known as an Inward Wire) is an electronic transfer of funds directly credited to your account from an overseas remitter (the sender).

 

If you need to receive regular or one-off foreign currency payments to your People First Bank account, our Inward Telegraphic Transfer service can help. Funds will be converted into Australian Dollars before being received and credited to your People First Bank account.

 

A telegraphic transfer will normally take 4 business days to be credited to your account, but this time frame is not guaranteed. Payments are usually received by the beneficiary within 2 to 3 business days after receipt of funds by Convera in accordance with payment instructions. There is no delivery period guarantee. Some currencies may take longer than others to process. Please ensure all details you and the sender provide are correct to help avoid delays.

 

People First Bank and Convera do not apply a fee for receiving funds from overseas. However, in some cases, intermediary banks may levy a fee.

 

For you

  1. Complete the Convera Inward Payment form.
  2. Choose the country you are receiving funds from.
  3. Complete the relevant information on the online form.
  4. Once you're sure the information you've entered is correct, select submit. You'll then be presented with the PDF deposit instructions.
  5. Save a copy of this PDF for your reference and email it to the sender for them to follow the payment instructions.

 

For the sender

  1. Provide the PDF with deposit instructions you sent them to their bank when processing the payment to you.
  2. Deposit the amount in local currency (not in AUD) into the dedicated Convera account as stated in the instructions.
  3. Instruct the bank teller to include the 'Payment Notes' in the bank's 'Reference' field as specified the PDF deposit instructions.
Convera Form

Benefits of telegraphic transfers

In most cases a telegraphic transfer is the quickest way to receive funds from abroad.

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Better value for you

You aren't charged a beneficiary deduct fee, so you'll receive the full amount of your incoming payment.

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Peace of mind

Senders can be confident their payments are handled by foreign exchange specialists with reliable systems.

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Better value for senders

The transaction is completed as a local transfer, which can save the sender additional fees.

FAQs

More FAQs on telegraphic transfers.

At this time, international payments can no longer be made online. We’re still working on what this service looks like in future. In the meantime, our friendly team can help you make international payments in branch.

The People First Bank App and People First Bank Online Banking cannot make telegraphic (international) transfers.

You can make international transfers using the People's Choice Mobile Banking App or People's Choice Internet Banking by following the instructions below. Please visit our Support topics for details on the decommissioning of the People's Choice App and Internet Banking.  

People's Choice Internet Banking 

  • Log in to Internet Banking 
  • Select Transfer/Pay from the top menu bar.
  • Then click International Transfer from the menu bar below. 
  • Follow the prompts. 

People's Choice Mobile App 

  • Open the People's Choice Mobile App on your device. 
  • Tap on the ☰ menu at the top left of your screen. 
  • Select Pay, and then International Transfer. 

There are different reasons why your payment may not have been received, including that it's still being processed, or you have entered incorrect details, such as IBAN, Account Number or Beneficiary details. Incorrect details may result in the payment being rejected by the overseas bank or deposited into an unintended person's account that matches the details. If you believe that the payment has been sent incorrectly, please contact People First Bank on 13 11 82. 

An IBAN is used by some countries to identify a customer’s bank account. The IBAN consists of an alphabetical country code, followed by two digits, and then up to thirty-five characters for the bank account number. For payments being to an IBAN mandatory country, an IBAN must be included.

A Purpose of Payment explains the reason for the transfer, i.e. Tax Invoice, Goods or Services, Gift etc. This is a legal obligation. 

We may be able to negotiate a rate for you. Please enquire about a negotiated rate by calling 13 11 82. 

Need some help? We've got you covered.

Get in touch with us and we can help you get the answers you need.

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