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FOREIGN CHEQUES
Receiving Foreign Cheques?
If you have received a cheque in a foreign currency, you can have it converted into Australia Dollars and deposited into your bank account with the TMCU.1
Typically, personal, bank, company or government cheques can be converted from a number of foreign currencies.
Need more information? Talk to us to day on (02) 9763 3190 or send an email to members@transportmutual.com.au
Things to note:
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You need to be a TMCU member for 6 months before we can accept foreign cheques
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At the time of the cheque being converted from the foreign currency and deposited into your account, we will deduct any applicable fees
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Foreign Cheques can take up to 8 weeks or more to clear
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Exchange rate is determined once the credit is received
Do you need to receive funds quicker?
As an alternative, ask the person sending you money, to send to you via our Incoming International Payments service
This option may save you money in fees and help you to get the money faster.2
Disclaimers:
TMCU has entered into contractual arrangements with Convera Australia Pty Ltd (ACN 150 129 749; AFSL 404092) (“Convera”), to assist it in fulfilling certain foreign exchange and payment services. The relationship relating to the services described is solely between you and TMCU. Fees and charges may apply, please refer to the terms and conditions issued by TMCU. Any advice provided by TMCU is general in nature and does not take into account your personal objectives, financial situation or needs. Convera does not give you any advice, general, personal or otherwise. This communication has been prepared solely for informational purposes and does not in any way create binding obligations. No representations, warranties or conditions of any kind, express or implied, are made in this communication.
- In some instances intermediary banks may levy additional fees and / or other charges. This is beyond the control of Convera.
- Funds are usually received by TMCU within 2-3 business days, funds will then be allocated to your nominated account. There is no delivery period guarantee. Some currencies may take longer than others to process.