Telegraphic Transfer: Terms and Conditions and Privacy Statement
Terms and Conditions
Macquarie Bank Limited (‘we’, ‘us’ or ‘our’) may use overseas banks (‘Correspondents’) to act on our behalf for the purpose of this Telegraphic Transfer Application (‘Application’). The selection of the Correspondent shall be made by the Applicant (‘you’). You acknowledge and agree that Correspondents are employed entirely at your risk and we are not responsible for anything in relation to your choice of Correspondent, or from any act or omission of the Correspondent.
A Correspondent may charge commissions, fees or charges in making the payment to the beneficiary’s account. Those commissions, fees or charges will either be deducted by the Correspondent from the funds paid to the beneficiary’s account or passed on to us. Where a deduction is made the beneficiary will receive less than the payment amount specified in your instructions. If those commissions, fees or charges are passed on to us, then you must reimburse us for them.
International transfer of funds will normally be received within 48 hours by the Correspondent. If the Correspondent is not the beneficiary’s bank it may take any normal length of time to on forward funds to the beneficiary’s bank. We are not responsible for any delays or failure in transmission or payment howsoever caused and we accept no liability for any loss of any kind whatsoever (including any consequential loss and expense) thereby resulting.
You agree we may delay, block or refuse to make a payment if we believe on reasonable grounds that making the payment may breach any law in Australia or any other country, and we will incur no liability to you if we do so.
If an incorrect account number is quoted, banks in some countries will credit that account (if a valid number) despite it not being in the name of the stipulated beneficiary, without any responsibility on their part. Further, some banks will not separately advise the beneficiary when requested to do so of a credit to their account. We are not responsible for such actions.
Telegraphic Transfers must be paid for in cleared funds. We will not carry out your instructions unless cleared funds are available.
Certain transactions are subject to commission charge and / or stamp duty.
To cancel or stop a payment please contact us. We may not be able to stop or cancel a payment if it has already been processed. A fee may be charged for this service.
Our fee for each Telegraphic Transfer request is $30.00. Unless otherwise stated this fee will be deducted from the account specified in the Account Details section of this form.
Applications received after established cut-off times for the respective currency will not be processed on the same day.
We may use OFX or other third parties to process transactions. To learn more about OFX you can visit https://ofx.com/en-au/international-money-transfers/
We may also disclose personal information to regulatory authorities (e.g. tax authorities in Australia and overseas) in connection with their lawful information requests or to meet legal obligations in any relevant jurisdiction. You consent and agree to us making any disclosures under clause 2 or this clause 3.
Where you provide personal information about someone else you must first ensure that you have obtained their consent to provide their personal information to us based on this Privacy Statement.
You acknowledge that we need to collect, verify and handle personal information about you to enable us to deliver the service and without that information we may not be able to effect payments under this agreement.