International Payments

You can easily send AUD or foreign currency online:

• Make sure you have the payee account details handy, including SWIFT codes and IBANs
• Login to Internet or Mobile Banking and navigate to ‘Payments/Transfers’
• Select ‘International Payments’
• Input all transfer details, including the payee’s overseas bank account and amount of transfer
• Have your mobile nearby to confirm your payment.

Alternatively, you can visit any of our branches to send money overseas. Note: to use this service you will need to have a Bank of Sydney transaction account.

You can transmit funds electronically from most Bank of Sydney transaction accounts or your Foreign Currency transaction account (if it’s in the same currency).

To send money overseas, you will need the following details for the person receiving the money:

• Full name
• Personal address
• The name of their bank and branch address
• Account number and SWIFT code of the foreign bank
• You’ll also be asked to provide the reason for the payment.

What will it cost me to transfer funds overseas?

You‘ll pay a lower fee on your international money transfer if you send it via Bank of Sydney Online Banking: $10 for international payments in foreign currency or Australian Dollars.

Alternatively in branch, it costs $20 to send any available currency.

There are a number of fees and charges banks and providers take when completing international money transfers. Each bank or clearing house involved with the transaction will take a fee when processing funds.

There can be different processing times for the money to arrive overseas, depending on which country you want to transfer money to.

For Bank of Sydney, international payments will usually be available to the recipient within 2-3 banking days. However, we cannot guarantee this, and in some circumstances it may take longer.

Transfers made on a weekend, a public/bank holiday, or after the cut-off time (3.00pm AEST) will be processed the following business day.

Although an IMT usually takes between 2-3 business days to process it may take longer, depending on your recipient's country and bank.

If your recipient doesn’t receive your transfer, or if you wish to change or cancel your IMT, you can request that a trace/amendment/cancellation be placed on the IMT by:

• Calling us on 13 95 00 (Mon-Fri, 9am-5pm AEST)
• Visiting any branch to complete an IMT investigation form

A SWIFT code is an international bank code that identifies particular banks worldwide. It’s also described as a Bank Identifier Code (BIC). Bank of Sydney uses SWIFT codes to send and receive money to overseas banks.

A SWIFT code consists of 8 or 11 characters.

Bank of Sydney’s SWIFT code is LIKIAU2S. You’ll need to give this code to anyone sending you money from overseas.

If you’re sending money to someone overseas, you’ll need to get their bank SWIFT code to do the transfer.

An IBAN, or International Bank Account Number, is a globally recognised sequence of letters and numbers used to process select cross-border payments.

International payments from Australian accounts to IBAN-recognised countries will require a valid IBAN. It’s a good idea to check and confirm the IBAN with the person receiving the money because if the IBAN is incorrect or missing, a charge may be applied by the receiving bank and the transfer may not go through.

To receive money from overseas, you’ll need to provide the sender with the following details:

• Your account name
• Your account number
• BSB (bank - state - branch number)
• Bank of Sydney’s SWIFT code – LIKIAU2S

At times, the sender’s bank may also require additional details such as your address or your branch address.

Please ensure you provide the sender with full and correct account number and account name, as these are the identifiers used to process the incoming payments to your account.

Overseas banks may impose their own fees and charges, or convert the currency of the payment. Bank of Sydney might not have any control over the fees, charges or foreign currency conversions imposed by these institutions. Any overseas financial institution handling charges will by default be borne by the recipient of the international payment and deducted from the payment amount, unless otherwise organised.

It’s possible that the overseas bank could convert the currency of the payment at an unfavourable exchange rate. You should inform the beneficiary that, if this occurs, they should consider rejecting the payment immediately so the payment can be unwound at the prevailing exchange rate.

If you don’t want the currency to be converted, please insert the words “Do Not Convert” in the description details free text box when you’re making an international payment.

If you are a new Bank of Sydney customer, you will need to visit your nearest Branch

If you have an existing Bank of Sydney account, you may visit your local branch or call us on 13 95 00 to open a new Foreign Currency Account.