We have collaborated with Convera for G&C Mutual Bank to offer Incoming International Payments, a timely and reliable option for receiving international payments directly into your nominated bank account from almost anywhere in the world, in over 35 currencies. You can receive the full amount sent to you with no beneficiary deduct fees.1
The funds will usually arrive in 2-3 business days2 into your G&C Mutual Bank account. Other benefits of using our Incoming International Payments service include the ability to lock in a competitive exchange rate for 72hours3 and if you have your sender send the money in their local currency, you can still receive in AUD.
It is a low cost alternative3 to SWIFT transactions that typically incur fees on inward payments and can take up to 60 days to clear.
Receiving foreign currency from an overseas account is simple with our Incoming International Payments Service.
G&C Mutual Bank has entered into contractual arrangements with Western Union Business Solutions (Australia) Pty Ltd (ACN 150 129 749; AFSL 404092) trading as Convera (“Convera”), 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 G&C Mutual Bank. Fees and charges may apply, please refer to the terms and conditions issued by G&C Mutual Bank. Any advice provided by G&C Mutual Bank 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. 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. 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.
3. Periodic comparisons are made against publicly available rates for comparable services from 4 Australian Banks. Funds must be received by Convera within 72 hours of the rate quote in accordance with payment instructions for the rate guarantee to be honoured.