BSB 802 841

International Payments

We make sending and receiving funds overseas a breeze

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Send Money Overseas with a Telegraphic Transfer

Send Funds Overseas

Send funds quickly and easily via Internet Banking

Available in a wide range of currencies

Quick¹ and easy

A telegraphic transfer is an electronic credit of funds into an overseas bank account. Transfers are available in a wide range of currencies.

Transfers are sent via a network of correspondent banks. If the funds are needed urgently, a telegraphic transfer is normally your best overseas transfer option.

How to complete a payment

Internet Banking: For a convenient online transfer, simply log in to Internet Banking, select “payments” and choose “International Transfer”.
Staff Assisted: Alternatively, complete the PDF application form below to arrange a staff-assisted international payment.

LCU takes its Anti Money¹ Laundering & Counter Terrorism responsibilities very seriously. As a result, you must provide us with an address¹ of the sender and receiver of your transfer, as well as all the account details you want to send the funds to. A new requirement is that, for all transfers to European countries, you must tell us the IBAN² (International Bank Account Number) of the receiver.

Note: You must be registered for multi-factor authentication (SMS One Time Password) to use the telegraphic transfer option within Internet Banking.

PDF International Funds Transfer Form Login to Internet Banking

Receive Money from Overseas with an Inward Payment

Receive Money from Overseas

When receiving funds to your LCU account from overseas you have two options.

Convera Inward Payments: Receive funds in 2 to 3 business days¹ by completing the below Convera Inward Payment Form and follow the directions on this form carefully.
SWIFT Payment³: If you are sending funds directly to LCU by SWIFT, please note that only AUD payments can be accepted via this channel. Be sure to provide all account details listed in the table below to the sender. For more information, see LCU International Account Details.

Convera Inward Payment Form

Receive Money from overseas with an Inward Payment powered by Convera Australia Pty Ltd

An Inward International Payment (also known as an “Inward Wire”) is an electronic transfer of funds directly credited to your account from an overseas remitter. In most cases, an Inward Payment is the quickest way to receive funds from abroad (a Convera Inward Payment will normally take 2-3 business days to be credited to your account, although this can never be guaranteed).

How does it work?

Complete & submit the online form located above. The remitter can then send the funds in their own currency using the information provided on that form, and Convera will convert the funds into Australian Dollars (AUD) before forwarding to Laboratories Credit Union for credit to your account. Funds can be sent in a range of currencies and will be received in Australian Dollars.

Why should I ask my sender to send money via this service?

Better value for you – you are not charged a beneficiary deduct fee, so you will receive the full amount
Better value for senders – no fee is charged by Convera to process your payment.
Peace of mind – you can be confident that their payments are being handled by foreign exchange specialists
Wide range of currencies

What do I need to do to receive money to my account?

Choose the country you are receiving funds from.
Complete the relevant information in the online form and submit.
You will then be presented with the PDF deposit instructions. Please save it and email it to your payee/follow payment instructions.

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 “Payment notes” in the bank’s reference field as specified in the PDF instructions

Receive money through the LCU International Account Details**

Payment Field

Information You Need To Provide

Beneficiary Bank

CUSCAL Limited

Beneficiary Bank Address

Darling Park Tower
1, 201 Sussex Street
NSW 2000 Australia

Bank SWIFT code

CUSCAU2SXXX

BSB

802841 – Laboratories Credit Union Ltd

Beneficiary Account Number

Your 9-digit Account Number
Please do not use your Membership Number

Beneficiary Name

Account Name - Your Full Name

Note: Any missing details such as forwarding BSB or on Forward CU/Bank name, may result in the payment being returned. Refer to our fees and charges brochure for current fees in relation to RTGS (previously known as IPEX)

**Please note that International Payments are sent via a network of correspondent, intermediary and/or beneficiary banks, which sometimes levy a small handling charge on your payment. Any such fees, and payment delays, are out of our control.

Things you should know

Laboratories Credit Union has entered into contractual arrangements with Convera Australia Pty Ltd (ACN 150 129 749; AFSL 404092), to assist it in fulfilling certain foreign exchange and payment services, including telegraphic transfer. The relationship relating to the services described is solely between you and Laboratories Credit Union. Fees and charges may apply, please refer to the terms and conditions issued by Laboratories Credit Union. Any advice provided by Laboratories Credit Union is general in nature and does not take into account your personal objectives, financial situation or needs. Convera does not give you any advice, general, personal or otherwise. This communication has been prepared solely for informational purposes and does not in any way create binding obligations. No representations, warranties or conditions of any kind, express or implied, are made in this communication.

1. Funds are usually received by the beneficiary’s bank in 2 to 3 business days, however, there may be a delay in the beneficiary bank allocating funds to the beneficiary account. There is no delivery guarantee. Some currencies may take longer than others to process.
**Please note that International Payments are sent via a network of correspondent, intermediary and/or beneficiary banks, which sometimes levy a small handling charge on your payment. Any such fees, and payment delays, are out of our control.

2. IBAN is used in some countries to uniquely identify a customer’s bank account. An IBAN is necessary for payments being sent from Australia to an IBAN mandatory country.

3. Any missing details such as forwarding BSB or on Forward CU/Bank name, may result in the payment being returned. Refer to our fees and charges brochure for current fees in relation to RTGS (previously known as IPEX). Payments through this channel may take up to 60 days to clear.