Foreign Currency Services
WIN $5000 spending money!
Simply load or reload a Multi-currency Cash Passport with Police Bank between 1st May & 31st July 2013 with over $1000 to be automatically entered into the draw to WIN!
Visit www.cashpassport.com/multi for full terms and conditions.
Travelling with Money Overseas
Cash Passport
If you are travelling overseas either for work or for leisure purposes, Cash Passport is the ideal way to carry your travel spending money.
It is accepted at over 29 million MasterCard retailers globally and it allows you access to your money in local currency from over 1.9 million MasterCard ATMs worldwide.
Key features
- Ability to carry multiple currencies on one card and manage currencies easily online
- International ATM transaction fee free (some ATM operators may charge their own fee)
- No transaction fee when using the card to pay for goods or services in store, online or over the phone (some merchants may charge a surcharge)
- Lock in your rate for the funds you load at the relevant exchange rate on the day of purchase
- Chip and PIN protected for wider acceptance, greater security and peace of mind
- Option to load up to a maximum of $100,000 (AUD) onto a card
- 24/7 Global Emergency Assistance including free replacement cards and emergency cash to your destination
- Reload funds via BPay
- Free second card as a back-up
- Card is issued instantly at purchase and activated within 2 business hours of purchase
To get a Cash Passport contact your nearest Branch
Transferring Money Overseas
Telegraphic Transfer
A Telegraphic Transfer (T/T) also known as a International Money Transfer (IMT) from Police Bank, is a secure and convenient electronic transfer of funds to a nominated overseas account at another financial institution.
Key features
Convenience
A telegraphic transfer is a secure transfer of funds to an overseas bank account, available via Police Bank.
Multiple currencies available
Police Bank have partnered with Travelex Global Business Payments, which means you can send money to over 70 countries across the globe in the destination currency.
Sending a Telegraphic Transfer
In order to send a Telegraphic Transfer, you will need to provide the beneficiary’s name, address and account number, as well as the beneficiary’s bank details (including full branch address and the SWIFT code).
For payments to Europe and the UK, you must also provide an International Bank Account Number (IBAN).
Overseas Drafts
An Overseas Draft is a bank cheque that can be drawn in foreign currency, or Australian Dollars, and deposited at an overseas financial institution. (May be subject to clearance period in country of deposit.) It is a traditional and simple method of making foreign payments which is still favoured by many members.
Just let us know who the draft is to be made payable to, the currency you want the draft in and the amount of money you want to send.
Your draft will normally be available next working day. You can then post it to the recipient overseas, and they deposit it into their bank account.
Receiving Money from Overseas
Telegraphic Transfer
Police Bank can assist you when receiving payments from overseas in a foreign currency. We can help you determine the best way to handle these payments and provide the services to deposit them into your Police Bank Account.
In general, the quickest and most convenient way for someone to send you funds from overseas is via a Telegraphic Transfer.
If you’re receiving a large amount of money, we recommend you request a Telegraphic Transfer for security and speed.
What do I need to do to receive money to my account?
1. Click on the link below – Receive money from overseas through our partnership with Western Union Business Solutions.
2. Choose the country you are receiving funds from.
3. Complete the relevant information in the online form and submit.
4. You will be then presented with the PDF deposit instructions. Please save it for your reference and email it to your payee/ follow payment instructions.
5. Ask the sender to :
- present these instructions to their bank when sending the payment to you;
- deposit the amount into the dedicated account as stated in the instructions in local currency and not in AUD;
- instruct bank teller to include the “Payment Notes” in the bank’s reference field as specified in the PDF deposit instructions;
- please request your remitter (sender) email you a copy of the bank transfer receipt showing the date, amount and transaction number. This information maybe of assistance in locating the transaction (if required).
Foreign Currency Cheques (Cash Letters)
Many entities overseas still choose to send people in Australia a foreign payment in the form of a Foreign Draft or a Foreign Cheque. This is known as a Cash Letter.
Cash Letters are foreign Cheques or foreign drafts drawn on a bank in the same foreign country. Police Bank can exchange these documents into Australian dollars on your behalf. Clearance time for funds being converted into Australian dollars can vary, contact your local branch for clearance time frames.
International Collections
International Collection items are foreign currency cheques or drafts drawn on a bank not in the same country as the currency of issue. With items such as these, Police Bank will send this item off for collection, clearance time for funds being converted into Australian dollars can vary, contact your local branch for clearance time frames.
Other Foreign Money Services
Foreign Cash
Choice of over 35 currencies available
Convenient: Ideal for arrival overseas to pay for taxis, tips etc
Save on fees: No need to go to banks or bureaux
Travellers Cheques
Secure: Cheques are refunded if lost or stolen
24 hour Assistance: available
Convenient: Available in 7 currencies and in a mixture of denominations
(can often be used like cash in shops etc, if taken in local currency)
World wide acceptance
Commissions Free when encashed at any Travelex/Thomas Cook branch
