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International money transfers and real time gross settlement payments

What is an international money transfer?

An international money transfer (IMT) is a payment made from one account to an overseas account. IMTs are also commonly known as "telegraphic" or "SWIFT" transfers.

With a Bankwest transaction account you can send money overseas in just a few clicks through online banking to over 200 countries in select currencies.

How to make an international money transfer via online banking

If you're registered for SMS code, you can transfer up to $20,000 AUD to over 200 countries. 1 2

  1. Go to ‘Payments’ > ‘Make a payment'
  2. Select ‘International transfer’ and enter the destination country
  3. Complete the required fields. Find out what details you'll need before you start.

If you need to send over $20,000 AUD:

If you are a business customer call 13 7000.

How to receive an international money transfer

Let the sender know the Bankwest SWIFT code BKWAAU6P, as well as your 13 digit BSB and account number, without any spaces or dashes.

If the sender needs your street address, for security reasons, it can’t be a PO Box.

Before you start an international transfer

  • Register for SMS code
  • Set a daily international transfer limit in Online Banking, up to AUD$20,000 by selecting 'Payments' then 'Payment Limits'
  • You’ll need the SWIFT/BIC ? or Bank Code ? of the bank you’re sending the funds to. Your recipient should be able to tell you the code to use, or you can check the SWIFT website.
  • You might need an International Bank Account Number (IBAN), depending on the country you're sending money to. For some countries, including European countries, it is mandatory. ?
  • Have the recipient's full name, address and account number handy, as well as the name and address of the overseas bank.
Go to online banking

Real time gross settlements

What is a real time gross settlement?

A real time gross settlement (RTGS) is a payment made from your account to another financial institution within Australia. There is no limit on the amount that is transferred for RTGS payments.

Processing of the payment is subject to payment cut off times and additional security checks, which can add an additional 1-3 business days.

How to request a real time gross settlement

You can get in touch with us:

If you are a business customer call 13 7000.

Fees

These fees relate to international transfers and real time gross settlements.
Fee Amount
Sending funds from online banking
 $15
Sending funds from a branch or over the phone $35
Receiving funds into a retail account
 $0
Receiving funds into a business account
 $10
Initial query (including confirmation of credit or late investigation)
 $25
Each subsequent query or follow up message
 $15
Fee
Amount
Sending funds from online banking
$15
Sending funds from a branch or over the phone
$35
Receiving funds into a retail account
$0
Receiving funds into a business account
$10
Initial query (including confirmation of credit or late investigation)
$25
Each subsequent query or follow up message
$15

Before you send money overseas make sure that you are aware of the relevant fees and charges outlined in the Your Guide to Banking Fees (PDF).

When an international transfer is made in a foreign currency, Bankwest will absorb fees imposed by other financial institutions involved in the transfer, except for the fees (if any) charged directly to the beneficiary’s account by their financial institution. Bankwest cannot provide an estimate of the amount of such fees.

When an international transfer is made in AUD, Bankwest will not absorb fees imposed by other financial institutions involved in the transfer. As noted above, fees may also be charged directly to the overseas account by the beneficiary’s financial institution.

Foreign exchange

Foreign exchange calculator

Calculate your currency conversion using the latest foreign exchange rates.

Foreign exchange rates

View exchange rates for different currencies.

  1. Service only available on Bankwest transaction accounts.
  2. If you choose to submit an application by email, Bankmail or fax, we’ll need to run additional security checks which can take up to three business days.