Sending Telegraphic Transfers

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Sending money via Telegraphic Transfer

What is a Telegraphic Transfer (TT)?

A Telegraphic Transfer (also known as a “Wire”) is an electronic transfer of funds directly credited to a beneficiary’s overseas bank account. A choice of more than 130 currencies is offered – click here for more details

Why should I use a TT?

In most cases a TT is the quickest way to send funds abroad, normally taking one to two business days to reach the beneficiary (this cannot be guaranteed, due to the use of a network of banks). Sending a TT in the beneficiary’s currency is usually more cost effective and helps ensure the funds are credited more quickly, without requiring conversion or clearance days.

What details do I need to send a TT?

You will need to provide full details of the receiver’s bank account, including their IBAN (International Bank Account Number) if they are in Europe. To comply with Australian Government regulations you must also provide the beneficiary’s full street address. Please note that TT’s are sent via a network of correspondent banks, which sometimes levy a small handling charge on your payment. Any such fees are totally out of CIRCLE’s and Western Union Business Solutions control. Given that a network of banks is used to complete your telegraphic transfer, the time it takes for your payment to be credited cannot be guaranteed.

If you have decided that a TT is the payment method for you, complete an order form here and return it to CIRCLE at;

  • Fax 1300 553 523
  • Email This email address is being protected from spambots. You need JavaScript enabled to view it.

You will need to provide full details of the recipient’s bank and bank account, including their IBAN (International Bank Account Number), if in Europe. To comply with Australian Government regulations you must also provide the beneficiary’s full street address. 

Please note that TTs are sent via a network of intermediary banks, which may deduct fees from the payment, so the recipient may receive less than the amount sent. Any such fees are totally out of CIRCLE’s and Western Union Business Solutions’ control.

Disclaimer

The financial products referred to in this communication are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 404092, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with your Financial Institution. Fees & Charges and Terms & Conditions apply.

It’s important for you to consider the relevant Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not a financial product is right for you. A PDS is available for each financial product issued by WUBS from your Financial Institution or on the compliance section of our website. Any advice provided above is general and does not take account of your personal objectives, financial situation or needs.

This communication has been prepared solely for informational purposes and does not in any way create any binding obligations. The relationship relating to the financial products referred to in this communication are solely between you and the Financial Institution. No representations, warranties or conditions of any kind, express or implied, are made in this communication.

Western Union Business Solutions is an operating division of the Western Union Company. Western Union is the issuer of the financial products referred to in this communication.

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