Currency Transfers and Sending Money Overseas

Sending money home? Find out about the different ways to transfer funds to overseas accounts...

There are three main ways to send money overseas.

  • Wire transfer - the fastest way to transfer funds, but the most expensive as well, as fees are charged by both sending and receiving banks. Most customers use this method to send over large sums (rather than smaller sums) in order to reduce fees. Current exchange rates are applied at the time of transfer. To use a wire transfer, the following information is required:
    • Alien Registration Card
    • Name and address of receiving bank
    • Name and account number of receiving account
    • Passport
    • Routing Number and Swift Code of receiving bank
  • Bank cheque - a cheque is issued by the customer's bank and sent through regular postal mail to an individual in another country. This option has lower fees, but there is a longer time before the funds are received
  • Postal cheque - a cheque is sent through regular postal mail to the bank receiving the payment. Again, this option is cheaper, but slower