Foreign Exchange Services
At Macquarie Credit Union, we are able to offer you a wide range of foreign exchange services.
A draft is either a bank or company cheque, made out to your nominated payee in a foreign currency. A draft is similar to a personal cheque and can be used to make payments or for settling transactions overseas. Drafts can be sent via overseas mail, and are available in a wide range of foreign currencies.
A telegraphic transfer enables you to transmit funds electronically to credit a nominated payee's overseas bank account in a specified currency (usually within 24 to 48 hours).
Instant Money Transfers
Through Travelex, Macquarie Credit Union offers a fast, safe, reliable and convenient way to send and receive money around the world. Using a computerised network of agents, money can be sent to over 60,000 locations. Funds are paid out in cash, and are typically available in as little as 10 minutes. This type of transfer is ideal if the receiver does not have a bank account, or if the funds are needed urgently.
We will convert cheques from a foreign currency into Australian Dollars* with no fuss.
We can supply banknotes in over 35 currencies in a variety of denominations and convert banknotes back into Australian Dollars*
Inward Telegraphic Transfers
If you need to receive funds from overseas, we can facilitate the conversion of foreign currency telegraphic transfers into Australian Dollars* for crediting to your account.
Receiving Money from Overseas
Macquarie Credit Union can assist you when receiving payments from overseas in Australian dollars or in a foreign currency. We can also help you determine the best way to handle these payments and provide the services to clear payments into your Macquarie Credit Union Account(s).
In general, the quickest and most convenient way for someone to send you funds is via a Telegraphic Transfer. If you’re receiving a large amount of money, we recommend you request a Telegraphic Transfer for your security and speed. You will need to provide the sender with your account details (BSB and account number) and Macquarie Credit Union’s Swift Code (CUSCAU2SXXX).
If you’ve received a foreign currency cheque, you may have it deposited into your Macquarie Credit Union account. Conditions and fees may apply.
Most international bank drafts coming into Australia will be in a foreign currency, but some may be in Australian Dollars. Drafts can generally be deposited into your Macquarie Credit Union Account (although this process may take longer if the draft is in a foreign currency that needs to be returned to the country of origin for clearing). Fees may apply.
For further assistance, you can contact Macquarie Credit Union on 1300 885 480.
*Subject to acceptance