Can I send money in AUD?
You will not be able to send funds in AUD via Internet or Mobile Banking. AUD can only be sent through the branch or call centre. However, the preference is to send in the foreign currency as you risk the following if sent in AUD:
- the exchange rate at which the funds will be converted is unknown, therefore possible to the beneficiary will receive an amount less than if funds were converted to the desired currency in branch
- the funds being rejected if the beneficiary does not hold an AUD account
- additional fees for processing the local currency
- longer processing times for the funds to reach beneficiary due to payment being routed through banks that accept AUD