Qccu - International Payments Training Module

Cash Passport card

Draft, telegraphic transfer or Money in Minutes Money Transfer

Travellers cheques

Personal cheques

Transfer of funds overseas to be paid out in cash

Cheque in a foreign currency

Transfer of funds overseas to be credited to a bank account

Travel card in a foreign currency

It is a secure way to send money

It is a quick way to send money (funds are normally credited within 2-3 business days)

There are no age or credit restrictions on who can send a transfer

All of the above

The sender's name and street address

The beneficiary's name and street address

The sender's membership number

All of the above

The sender's name, ID details and address

The country that the receiver is in

The receivers name and address

All of the above

A standard type of account number required for all transfers to European countries

A standard type of account number required for all transfers to the USA

A standard type of account number required for all transfers to China

All of the above

A transfer of funds overseas to be paid out in cash

A cheque in a foreign currency

A transfer of funds overseas to be credited to a bank account

A travel card in a foreign currency

Drafts only

Drafts and telegraphic transfers

Telegraphic transfers only

Neither drafts nor telegraphic transfers

Inward telegraphic transfer

Cheque in foreign currency to be converted into AUD

Both of the above

Neither of the above

To provide an additional member service

To earn additional fee income

To ensure we maximize our share-of-wallet from each member

All of the above

All members

Only members aged over 18

Only members which over $10,000 in deposits

Only members who have been with us for over 5 years

A member overseas who needs an emergency cash transfer because they have lost their credit card or cash

Members from a migrant community who wish to send money overseas

Members who wish to buy products online from overseas

All of the above

The beneficiary does not have a bank account

The sender doesn't care what exchange rate is used

The funds are required quickly

The sender is not an Australian citizen

The beneficiary does not have a bank account

The member wants to pay a lower fee

The funds are required urgently

All of the above

The receiver does not have a bank account

The funds are required urgently - within minutes overseas (for example in an emergency)

The receiver requires cash pick up

No uplifting / receiver fee

All of the above

Exchange rates constantly move and TV rates are indicative only

The rates on TV are basically "dealers" rate. The costs of providing the service also has to be factored into the rates we offer (similar to a home loan rate being higher than the official cash rate)

Every financial institution and foreign exchange provider can set its own rates

All of the above

A draft can be enclosed with Christmas or birthday card

A draft is relatively inexpensive

A draft can be paid directly into their bank account by the overseas beneficiary

All of the above

A transfer of funds from overseas to be paid out in cash

A cheque in a foreign currency sent from overseas

A transfer of funds from overseas to be credited to a member's account

A travel card in a foreign currency from overseas

The transaction can be completed as a local transfer so the sender may not need to pay a SWIFT fee

It is a quick way to send money (funds are normally credited within 2-3 business days)

Members are not charged the beneficiary deduct fee, so they will receive the full amount of their incoming payment

There are no age or credit restrictions on who can send a transfer

All of the above

The currency of the overseas sender (a choice of 35 currencies is available)

The currency of the overseas sender (a choice of 50 currencies is available)

The currency of the overseas sender (a choice of 10 currencies is available)

Only AUD transfers are available

$10

$20

$30

Free

A member receives funds from overseas via the banking SWIFT network

A member receives funds from overseas using Western Union Business Solutions domestic bank accounts

A member receives funds from overseas using the Western Union agent network

A member receives foreign cash from overseas

Receiving regular payments from overseas, such as salary

Receive savings or proceeds from selling an overseas asset, such as property or shares

Receiving a one-off payment from family or friends overseas as gift

All of the above

The member should complete the relevant information on the online form located on our website, follow the instructions and forward payment details to the overseas sender

The member should complete the relevant information in the online form located on our website and wait until payment is received

The member should ask the overseas sender to send a SWIFT payment via their bank

The member needs to get our approval to receive a transfer

To offer our members a fee-free alternative to the SWIFT system

We receive non-interest income from each transaction

To offer our members a simple way of providing the required instructions to an overseas sender

All of the above