In most cases a Telegraphic Transfer (TT) – also known as a "wire" – is the quickest way to send funds abroad.
A TT will normally take 2-3 business days for major currencies, and up to 10 business days for minor or exotic currencies to reach the beneficiary. Please note no guarantee can be placed on transfer times as we are always reliant on the efficiency of the receiving bank to credit the beneficiary. You may send a TT by visiting your RACQ Bank branch.
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".
A Draft – similar to a bank cheque made out in a foreign currency – is another way for you to make payments and settle a transaction overseas. Drafts can be sent overseas via mail and are available in a wide range of currencies. This is also a service which requires you to visit an RACQ Bank Branch offer in-branch only.
For more information on sending money internationally, visit racq.com.au/banking/travel-and-international-services/sending-money.
To get started, you may download and complete the Telegraphic Transfer Form, or our Foreign Bank Draft Order Form for drafts, and bring it along to your nearest RACQ Bank branch.