Foreign Exchange Services
SERVICE ONE can offer you a complete foreign exchange service to ensure you get value for money and quality service.
So whether you are taking money, sending money, or receiving money from overseas, we can help. More information on each of these services is offered below.
A Telegraphic Transfer transmits funds electronically to an overseas bank account in a specified currency. Funds are deposited directly into the payee’s bank account where they can be easily accessed by the payee.
These payments can be made between local and overseas organisations or people and you can send a payment in most major currencies. They are generally faster than drafts as the payee normally receives payment within 24 - 72 hours of the transfer being sent.
A Draft is either a bank or company cheque, made out to your nominated payee in a foreign currency. If you have no time constraints, and you are happy using the mail and you don’t need the funds to be paid directly into an account, then a Draft would be suitable.
Drafts may be enclosed with letters or invoices and forwarded direct to the payee. A Draft is an economical method of transferring funds to a specific company or person overseas and provides security of payment as it is a non-negotiable instrument and can only be credited to the payee’s bank account unless the payee has endorsed the Draft. Choose from 24 different currencies such as the United States Dollar, Euro Dollar, British Pound, Singapore Dollar and more.
Foreign Cash and Cheques
We can supply foreign cash in over 40 currencies in a variety of denominations and we will convert foreign currency cheques into Australian Dollars (subject to acceptability).
* Merchants or ATM providers may charge a fee for the transaction.
The financial products (Drafts and Telegraphic Transfers) referred to in this communication are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 404092, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with SERVICE ONE. Fees & Charges and Terms & Conditions apply. It's important for you to consider the relevant Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not a financial product is right for you. A Draft PDS is available for each financial product issued by WUBS from SERVICE ONE or on the compliance section of our website http://business.westernunion.com.au/about/compliance/. Any advice provided above is general and does not take account of your personal objectives, financial situation or needs. This communication has been prepared solely for informational purposes and does not in any way create any binding obligations. The relationship relating to the financial products referred to in this communication are solely between you and SERVICE ONE. No representations, warranties or conditions of any kind, express or implied, are made in this communication. Western Union Business Solutions is an operating division of the Western Union Company. Western Union is the issuer of the financial products referred to in this communication.
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