Overseas Transfers / Currency
Preparing you for your next adventure
Transfer 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.
Police Bank have partnered with Western Union Business Solutions, which means you can send money to over 130 countries across the globe in the destination currency.
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.
Travel with Money Overseas
Cash Passport
The multi-currency Cash Passport MasterCard Prepaid Currency Card available from Police Bank is a great way to travel overseas with money.
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.
Receive Money from Overseas
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.
Telegraphic Transfer
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.
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 Service Centre 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 Service Centre 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
Terms & Conditions
Effective Date: 1 July 2015.
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