When you transfer money internationally using Australia’s St. George Bank, you will get the peace of mind that comes from working with a large, established bank. In addition to all of their traditional banking services for individuals and businesses, St. George offers their own international money transfer service.
Transferring your money from your account to an account elsewhere in the world can be anxiety-provoking and expensive. Using an established bank with international industry ties can make the process better for you.
In reading this review of St. George international money transfer service, you’ll gain insights to help you decide if a bank in general, and St. George in particular, is the right fit for your money transfer needs.
- Flat rate transfer fees
- Peace of mind from established, respected reputation in the banking industry
- Support through online, telephone, and in-person channels
- Easy-to-use internet banking services
- Higher rates than those of specialised money transfer companies
- Several other possible fees in addition to the initial flat-rate fee
- Transfer time isn’t explicitly given, and the process may be slower than the one- to three-day time provided by transfer specialty companies
- Dailey transfer limit of $50,000 could be restrictive
How it Works
To transfer money internationally through St. George, you must first open an account at the bank. The first time you move money using online banking, St. George must grant you access to international transfers. The registration process is simple, and once the bank receives your request form, processing takes approximately two days.
As soon as your request is approved, you can begin transferring money using online banking. Alternately, you can stop by your local St. George bank and receive assistance transferring money.
How Much Does It Cost?
St. George charges a flat rate transfer fee of $20 to send money to overseas accounts in Australian Dollars. The flat fee for transferring money overseas in a foreign currency is $10 per transfer. Internet banking fees are lower than the charges of in-branch services.
Additional fees may be charged by St. George, destination banks or institutions, and by intermediary banks involved in the transfer. Other charges by St. George include such things as trace fees, cancellation fees, and amend fees and can reach $65. St. George doesn’t set fees for other banks and financial institutions involved in your money transfer.
How Safe Is It?
As an established, reputable bank, St. George uses security measures that are high-end and technologically sound. Anti-virus protection, firewalls, secure transmissions, encryption technology, data integrity, and more ensure the safety of your account and your money.
You can rest assured that your money will reach its intended destination. If there is a claim that funds were not received, St. George can and will trace it.
How Do I Send or Receive Money from Overseas?
The process is straightforward. Once you have registered for overseas transfers, you initiate the transfer through your internet banking account. You may do this any time of day, any day of the year, at your convenience.
In-person service is also available if you prefer. You may stop by a St. George branch and work face-to-face with a professional who will assist you in your transfer.
Receiving money from overseas is just as easy as sending it. All you need to do is to provide your sender with St. George’s SWIFT code or, for US senders, the routing number, your account number, and the bank’s address. You may be charged transfer fees as per the sending institution’s policies.
How Do I Pay?
You have two payment options when transferring money internationally with St. George. You may do so in person at a St. George branch bank. One of their professionals will assist you as needed and will accept payment.
The other payment method is through internet banking. Once you create an internet banking account, you can complete, and pay for, all of your transfers on your own at your convenience. With internet banking comes an international money transfer fee that is slightly lower than in-branch transfers.
Can I Pay by Credit Card?
The St. George website neither confirms nor refutes their acceptance of credit cards for international money transfers. The bank welcomes inquiries of all sorts, and you can contact them with questions about credit card use or about other money transfer and banking matters.
What Exchange Rate Will I Get?
You will receive the exchange rate current at the time of your transfer. Because these rates vary, St. George’s cannot guarantee an exact rate. For your convenience, they provide the exchange rate on their website for you to view. It serves as a guideline only and isn’t a guarantee of rate.
What Currencies Can I Transfer?
St. George allows international money transfers in 17 different currencies. These include:
- GBP British Pound
- NZD New Zealand Dollar
- USD United States Dollar
- JPY Japanese Yen
- EUR Euros
- CAD Canadian Dollars
- CHF Swiss Franc
- DKK Danish Kroner
- FJD Fijian Dollars
- HKD Hong Kong Dollars
- INR Indian Rupees
- NOK Norwegian Kroner
- PHP Philippine Peso
- SEK Swedish Kroner
- SGD Singapore Dollars
- THB Thai Baht
- ZAR South African Rand
Check this currency converter to discover the relationship between the Australian Dollar and other foreign currency values before you initiate an international money transfer.
What Services Do They Offer for Businesses?
St. George is a large bank serving individuals, businesses, and corporations and offering specialised services for each. Online business banking allows companies to manage their accounts in ways that best suit them. Organizations can take advantage of St. George’s Global Dealer, an electronic foreign exchange platform that is convenient, easy to use, and comprehensive, allowing users to track currency exchanges and other international business matters.
St. George Bank provides safe, reliable, and convenient international money transfers. Transfers are secure and can be done independently with online banking or with assistance from bankers in person or over the phone. Their flat fees are an advantage, while their overall fees may be higher and their transfer time slower than some money transfer specialists.
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