Summer holiday on a boat overseas purchased using foreign currency

Foreign Currency Transaction Account

Make overseas payments and receive funds from anywhere in the world through our network of correspondent banks, with our Foreign Currency Transaction Account.

Key features

USD, Euro and GBP available

No account keeping fees

Funds available as soon as they’re deposited

Get monthly statements to help you manage your account

Foreign Currency Transaction Account Interest Rates

Amount	USD $	EUR €	GBP £
$0-$9,999	0.00% p.a.	0.00% p.a.	0.00% p.a.
$10,000-$49,999	0.00% p.a.	0.00% p.a.	0.00% p.a.
$50,000-$99,999	0.00% p.a.	0.00% p.a.	0.00% p.a.
$100,000-$249,999	0.00% p.a.	0.00% p.a.	0.00% p.a.
$250,000-$999,999	0.00% p.a.	0.00% p.a.	0.00% p.a.
$1,000,000+	0.05% p.a.	0.00% p.a.	0.00% p.a.

Fees
Account Keeping Fees	$0.00
Monthly Account Keeping Fee	$0.00
Cash Deposit and Withdrawal	1% of the transaction amount or minimum $20.00 AUD

You’ll need to provide the sender with:

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

Please ensure that you provide the sender with your full and correct account number and account name, as this is the only identifier used for processing the inward payments. Bank of Sydney will not be held responsible for a credit in accordance with an incorrect account number provided by the sender.

There may also be additional requirements from the sender’s bank such as your address or your branch address. Check with the sender to reduce the chance of delays in them making the payment.

There is a $10 fee for international payments deposited directly into your Bank of Sydney account. In addition, there may be overseas bank fees deducted from the payment, unless otherwise organised.

Yes. All Internet Banking customers have access to this function, as long as you hold an AUD account. You can select it via the ‘International Transfers’ menu option, under ‘Payments and Transfers’.

If you’re applying for an account with two or more applicants, any one of the applicants will be able to operate the account on their own (also known as ‘Either to sign’ operation). This means that any account holder can transact on the account without the permission of other account holders.

If you would like a different mode of operation applied to your new account, please contact us on (13 95 00) to discuss your needs.

A Bank of Sydney account
Details of the person receiving the money, including their name, personal address, the name of their bank, branch address, and their account number
SWIFT code of the foreign bank
The amount you want to send
You’ll also be asked to provide the reason for the payment

Funds are transferred electronically from your Bank of Sydney account to the designated overseas account, usually within 1-3 business days.

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 will be processed the following business day.