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St. George began operations as a co-operative building society in 1937. In time, it went on to become the country’s leading building society. In July 1992, it acquired its banking license and achieved full banking status. It went on to become a full service bank in 1994, after taking over Barclays’ Commercial Banking division.
In 2006, the bank accomplished two significant milestones. It exceeded $100 billion in assets for the first time and it achieved an after tax result of more than $1 billion. The merger between St. George and Westpac Banking Corporation took place in December 2008. Now, the former functions as a major operating division of the latter, contributing significantly to its overall revenue.
St. George Bank lets its customers send money overseas in different ways. If you choose to transfer funds internationally through this bank you can benefit by paying a flat fee per transfer. The dependability of dealing with a trusted name is also a plus.
If you’re thinking about sending money overseas using St. George Bank you can visit its website to view prevailing foreign currency exchange rates. There, you can see exchange rates the bank offers for telegraphic transfers, drafts, travellers’ cheques and cash. If you’re considering getting a Global Currency Card, you can see what exchange rates it comes with as well.
The rates on offer through this bank are competitive, no doubt. However, a little research can lead to more favourable rates, especially if you consider using the services of a specialised money transfer company.
See today's live exchange rate for St. George Bank
Australian banks tend to charge fees to transfer funds overseas. Sending money through St. George Bank’s online platform can have you paying fees in different situations, as you can see from the table.
Fee Type | Amount |
---|---|
Transfer fee | $20 |
Trace fee | $25 (plus applicable overseas bank charges) |
Cancellation fee | $25 (plus applicable overseas bank charges) |
Amend fee | $15 (plus applicable overseas bank charges) |
While St. George charges a flat $20 fee per transfer, you may incur additional costs. These can come in the form of fees charged by an intermediary bank used for the transfer and/or the recipient’s overseas bank. In such a scenario, any amount charged deducts from the money you send.
Back to topThere is no mention of a minimum limit you can send to international accounts through this bank. However, a cumulative daily transfer limit of $50,000 applies. In case you’re not sure if St. George Bank sends money to a country of your choice, simply speak to a bank representative over the phone. The given list includes currencies you can send through this bank.
Currency | Currency code |
---|---|
US Dollar | USD |
Euro | EUR |
British Pound Sterling | GBP |
Japanese Yen | JPY |
Canadian Dollar | CAD |
Danish Krone | DKK |
Fijian Dollar | FJD |
Hong Kong Dollar | HKD |
Indian Rupee | INR |
Indonesian Rupiah | IDR |
Malaysian Ringgit | MYR |
New Zealand Dollar | NZD |
Norwegian Krone | NOK |
Philippine Peso | PHP |
Singapore Dollar | SGD |
South African Rand | ZAR |
Swedish Krona | SEK |
Swiss Franc | CHF |
Thailand Baht | THB |
If you turn to St. George to send money overseas, you get to choose from two basic options.
If you need assistance at any stage, you can always get in touch with a St. George representative in person or over the phone.
Back to topYou should have an operational transaction or savings account with St. George Bank if you wish to use its services to send money overseas. While you can visit a branch to go through with the transfer, you can do so via online banking as well.
Before transferring money overseas for the first time you have to request for access to overseas transfers, which you can do online. Alternatively, you can complete the Internet Banking - Request to Authorise/Cancel Overseas Telegraphic Transfer Access form, and send it across via fax or mail. It can take the bank up to two business days to process your request, so remember that you may not be able to send money as quickly as you would like.
Once the bank processes your request you can use the online platform to carry out overseas transfers as per your convenience. To go through with the transfer, you’ll have to provide details such as the recipient’s name, address, account number, bank’s name and bank’s SWIFT code.
If the bank confirms your payment before 5pm (AEST) on a business day, Monday to Friday, it processes on the same day. The time it takes for funds to credit into an international account can vary, which is why St. George does not provide definitive turnaround times.
Back to topSt. George Bank offers an array of banking services and products for personal and business customers. Some of its solutions are best suited for overseas travellers.
This card does not attract the typical 3% St. George foreign transaction fee when you use it for shopping or when you withdraw money in a currency available on the card. You can load your card using the online and mobile banking platforms at any time, which you can also use to move between currencies. You can lock in an available exchange rate as and when you wish.
While you can consider using the services of St. George Bank to send money overseas, don’t make a decision without comparing your options first.
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