Telegraphic Transfers
A Telegraphic Transfer is an electronic credit of funds into an overseas bank account.
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We take our Anti Money Laundering & Counter Terrorism Financing responsibilities very seriously. As a result, you must provide us with addresses for both the sender and receiver of your transfer, as well as all the account details you want to send the funds to. Also, for all transfers to European countries, you must tell us the IBAN (International Bank Account Number) of the receiver.
International Drafts
An international draft is a simple solution for sending money overseas as a cheque.
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receiving money from overseas
If you have money coming to you from overseas, we can help you out. There are two ways by which you can receive money into your First Option account:
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How to deposit a foreign cheque to your First Option account
When you receive a cheque in a foreign currency you can either bring it into one of our branches or send it to us with your account details. We will arrange for the cheque to be converted into Australian dollars and deposited to your nominated First Option account.
Foreign cheques deposited to your First Option account are subject to a 28 day clearance time.
Find out what details you need to receive Telegraphic Transfer
When you are receiving funds via Telegraphic Transfer the sender will require the following information:
| Description | Details |
| SWIFT Code/ BIC | CUSCAU2SXXX |
| SWIFT Code Name | Credit Union Services Australia Limited |
| BSB | 802-876 |
| Name of Financial Institution | First Option Credit Union Limited |
| Financial Institution Address | Level 4/ 409 St Kilda Road, VIC 3004 |
| Name of Account | The name on your First Option Membership |
| Account Number | Your First Option Member Number |
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Questions?
If you have any questions, please contact us 