We have collaborated with Western Union Business Solutions 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 engaged Western Union Business Solutions (Australia) Pty Limited (ACN 150 129 749; AFSL 404092) (“WUBS”) to assist with processing Incoming International Payments. Western Union Business Solutions is a business unit of The Western Union Company.
Please note that fees, charges and terms and conditions apply and may vary depending upon the financial product.
1. Payments maybe sent via a network of correspondent and/or intermediary banks. In some instances, such banks may charge a small handling fee, which is out of the control of WUBS or G&C Mutual Bank.
2. Funds are usually received by G&C Mutual Bank within 2-3 business days, funds will then be allocated to your nominated account. There is no delivery period 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 Western Union Business Solutions within 72 hours of the rate quote in accordance with payment instructions for the rate guarantee to be honoured.