page top

Telegraphic Transfer

Attention: open in a new window. Print

Unity Bank has partnered with CUSCAL to provide our Members wth a range of foreign exchange services to ensure they have the assurance of safety and convenience when sending and receiving money from overseas.

Sending Money Overseas

Send money overseas anytime, from anywhere. All you need to do is log into your Internet Banking and register for SMS One Time Passwords. Once registered, log on and select payments and then click on international transfer. You will then be prompted to input the details of where you wish the money to be sent and from what account. It is that easy!

International payments via internet banking gives you the capability of reliably and conveniently sending money overseas to more than 200 countries and territories, in over 40 different currencies from the comfort of your home computer. If you would prefer for us to perform these international transfers on your behalf then we are still more than happy to do so. We are still able to do this at any of our branches.

Receiving Money from Overseas

We can assist you when receiving payments from overseas in a foreign currency. 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. The overseas financial institution can use one of two intermediaries (CUSCAL or Western Union) to transfer the deposit to your Bank account.

Receiving money using CUSCAL

You may receive money from overseas using CUSCAL’s service. CUSCAL will not accept funds transferred from overseas directly to themselves, therefore your funds will need to be processed through an intermediary bank. You may be able to nominate either an intermediary bank of your own choosing, or CUSCAL’s preferred intermediary bank, NAB.

These details are for use by the sending bank:

  • Swift code: CUSCAU2SXXX
  • Swift bank: CUSCAL, 1 Margaret Street Sydney NSW 2000 Australia
  • BSB: 882-000
  • Account number: Your member number
  • Account name: Your full name
  • Forward to: Unity Bank Limited
  • Intermediary bank: CUSCAL's preferred intermediary bank is NAB. Swfit Code NATAAU3303M.

Also, 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 may be of assistance in locating the transaction (if required).
Contact us List of currencies

Useful Links

  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 40 currencies is offered.
  Why should I use a TT?
  • In most cases a TT is the quickest way to send funds abroad (a TT will normally take one to two business days to reach the beneficiary), and is a reliable way to send funds to a bank account internationally.
  • Sending a TT in the beneficiary’s currency is usually more cost effective and helps ensure the funds are credited more quickly, as the payment can go “straight through”.

By sending your International Transfer in the currency of the country it is being sent to, you generally receive greater certainty on your payment – you can effectively "lock-in" the exchange rate, and know exactly how much is being transferred. If you were to send the funds in Australian Dollars, it may be difficult to find out the exchange rate that the overseas bank will apply, and hence it may be difficult to find out how much will be credited to the beneficiary’s account. 

  How do I access TT?

Simply log on to your online banking account and make sure you are registered for One Time SMS Passwords, go to the Payments tab and select International Transfers. The country specific information and ‘help text’ will guide you through your transfer from start to finish.

  What details do I need to send a TT?
  • You will need to provide full details of the beneficiary’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 out of Unity Bank'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.