International Student Handbook - University of New England

Transferring Money to Australia
According to the experience of many international students we suggest you explore the following
options:
a) international money transfer,
b) using travellers cheques or
c) with Automatic Teller Machines (ATM´s).
International Money Transfer
There are three common ways of making an international money transfer. We recommend that you
research each option and decide which one is better for you.
You can use:
a) a money transfer service provider eg. Western Union;
b) postal offices eg. Australia Post http://www.auspost.com.au ; and
c) banks.
Possibly the cheapest and most secure method to get your money from overseas is through a bank
transfer. For this, you first need a bank account in Australia. After you open your bank account in
Australia, you will be able to arrange an International Money Transfer (IMT).
Your overseas bank will need some information to make an International Money Transfer (IMT). You
have to visit the branch in Australia where you opened your new account and explain that you are
interested in making an IMT from overseas. They will provide you with the following information:
a) complete name of the bank;
b) branch name and code; and
c) your account number.
In addition, they will provide you with a code and other information for your bank in your home country.
After you obtain this information contact your home bank or ask someone in your home country to
contact the bank. The bank in your home country will request the information provided by the
Australian bank to complete the IMT. Some banks charge a small fee to make this transfer. The transfer
usually takes 3 business days to 2 weeks to be completed.
Please talk directly with your chosen bank about this process and the fees they charge before making
a final decision on how you will transfer your money. In general, banks in Australia understand this
process very well and you will find their services helpful.
UNE-ISBT 2009-2010 International Student Handbook Page 18