Wire transfer is the fastest mode of receiving money in your AMP Bank Ltd account from abroad. You can receive money into your AMP Bank Ltd account from a foreign country via International wire transfer. The transaction is initiated by the sender through a financial institution, however, you need to provide your banking details to the sender for successful transfer of money.
International Wire Transfer to AMP Bank Ltd
International wire transfer is one of the fastest way to receive money from foreign countries. Banks use SWIFT network for exchanging messages required for performing international wire transfer. Usually, the receiving bank (in Australia) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking.
Incoming International Wire Transfer Instructions
To receive international wire transfer in your AMP Bank Ltd account, please provide the following wire instructions to the sending financial institution:
|Bank Name:||AMP Bank Ltd|
|SWIFT BIC Code for AMP Bank Ltd:||For AMP Bank Ltd, this code is AMPAU2SRET|
|BSB Number for AMP Bank Ltd:||939-200|
|Branch Name & Address:||Your bank branch name and address|
|Beneficiary Account Number:||Your complete AMP Bank Ltd account number|
(including leading zeros, if any)
|Beneficiary Name:||The full name of your account as it appears on your statement|
|Beneficiary Address:||Your complete address|
Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees.
Outgoing International Wire Transfer Instructions
To send international wire transfer from your AMP Bank Ltd account, You need to know the following information about the person or company receiving the money:
1. The recipient’s full name and address
2. The recipient’s IBAN or account number
3. Full bank name, address and the SWIFT/BIC code or Branch Number
Incoming Wire Transfer Fees for AMP Bank Ltd Australia
International Incoming Wire Transfer Fees for AMP Bank Ltd is as follows:
|International incoming transaction fee||Cost|
|Domestic or Overseas Telegraphic Transfer, Inwards||$10|
Outgoing Wire Transfer Fees for AMP Bank Ltd Australia
International Outgoing Wire Transfer Fees for AMP Bank Ltd is as follows:
|International outgoing transaction fee||Cost|
|Domestic or Overseas Telegraphic Transfer,|
Purchase Overseas or Local Currency
Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.
Wire Transfer Cutoff Time for AMP Bank Ltd Australia
1. The Wire Transfer Cutoff Time for AMP Bank Ltd for both Incoming and Outgoing is 4 pm.
2. Any requests received after cutoff time will normally be processed the next working day.