We offer simple payment solutions for you to settle accounts with your overseas trading partners. To transfer money - use Telegraphic Transfers (now available online). For a cheaper alternative, when there is not as much urgency - use international bank drafts.
Or give us a call on
0800 300 332
Telegraphic transfers (TT)
This is an electronic payment that can be credited directly to the recipient's bank account quickly. Funds are usually available within 1-3 working days. **
The payment is well-protected and the funds are traceable should the overseas recipient claim they didn’t receive the payment.
You can purchase and send a telegraphic transfer** from any Westpac branch, or from one of our online channels:
- Online Banking - for individuals or small business/sole traders
- Business Online - for small/medium businesses
- Corporate Online - our online banking service for corporate and institutional customers.
You can receive funds via a telegraphic transfer. Payment can be made available at any Westpac branch. The SWIFT code for inward telegraphic transfers to Westpac New Zealand is WPACNZ2W.
International bank drafts
These are bank cheques that are made out to the recipient in the currency you choose. They offer an economical way of sending money overseas and can be used to pay for goods when there's no urgency to pay. They can’t be made out for cash, or exchanged for cash. Only the person nominated on the draft can get the payment. They can be stopped if they are lost or stolen.
You can purchase a draft from any Westpac branch. If you receive a bank draft as payment, this can be deposited into your account at any Westpac branch.
** Funds transferred must be sourced from a Westpac account that you have authority to make withdrawals from. For some countries, such as India and Pakistan the receiving bank may issue and post a bank cheque to effect payment to the recipient account. In these cases, it is likely to be more than 3 working days and could be as long as three weeks before the funds are available.
We recommend that you check with the beneficiary first as it may be quicker to post a bank draft directly to them.
Most of the above products and services are provided by Westpac Banking Corporation ABN 33 007 457 141, incorporated in Australia (New Zealand division). Some products may be provided by Westpac New Zealand Limited. No member of the Westpac group accepts any liability for losses suffered as a result of converting currencies and any exchange risks from the conversion of currencies is the responsibility of the account/deposit holder. You can get a copy of the current disclosure statement for Westpac New Zealand Limited and a copy of the investment statement for any securities for which an investment statement is required from any Westpac branch in New Zealand free of charge.