Inbound Global Transfer (IGT)
An Inbound Global Transfer (also known as an Inward Telegraphic Transfer or Inward Wire) is an electronic transfer of funds directly credited to your account from an overseas remitter. In most cases an IGT is the quickest way to receive funds from abroad (an IGT will normally take two-to-three business days to be credited to your account, although this can never be guaranteed).
How does an IGT work?
The remitter should send the funds in their own currency, and Western Union Business Solutions will convert them into Australian Dollars before forwarding to First Option Credit Union for credit to your account. Funds can be received in a range of currencies – click here for more details.
Why should I ask my sender to send money via IGT?
- Better value for you – you are not charged a beneficiary deduct fee, so you will receive the full amount of your incoming payment.
- Better value for senders – the transaction is completed as a local transfer
- Peace of mind – you can be confident that payments are being handled by foreign exchange specialists with reliable systems
What do I need to do to receive money to my account?
- Click on the "Receive IGT" button below
- Choose the country you are receiving funds from.
- Complete the relevant information in the online form and submit.
- You will be then presented with deposit instructions in PDF. Please save it for your reference and email it to your payee to follow payment instructions.
- Ask the sender to:
- present these instructions to their bank when sending the payment to you
- deposit the amount into the dedicated account as stated in the instructions in local currency and not in AUD
- instruct bank teller to include the “Payment Notes” in the bank’s reference field as specified in the PDF deposit instructions
The financial products (Drafts and Telegraphic Transfers) referred to in this communication are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 40409, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with your Financial Institution. Fees & Charges and Terms & Conditions apply.
It's important for you to consider the relevant Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not a financial product is right for you. A Draft PDS is available for each financial product issued by WUBS from your Financial Institution or on the compliance section of our website. Any advice provided above is general and does not take account of your personal objectives, financial situation or needs.
This communication has been prepared solely for informational purposes and does not in any way create any binding obligations. The relationship relating to the financial products referred to in this communication are solely between you and the Financial Institution. No representations, warranties or conditions of any kind, express or implied, are made in this communication.
Western Union Business Solutions is an operating division of the Western Union Company. Western Union is the issuer of the financial products referred to in this communication.