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Based overseas and need to make a large transfer in the next 14 days to settle an investment - HELP!

Posted by prabuw prabuw
Message 1 of 5 445 Views

Hi all,

 

I'm currently based in London and have a Bankwest account. I have an investment which I need to settle in next 2 weeks, which requires me to make a rather large transfer. 

 

I am happy to break it up into several transfers of the highest limit of $20K, but am having trouble doing so from here, since the (aussie) number associated with my account is not longer active.

 

 

Is there anything that can be done? Please help!

 

Thanks.

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Re: Based overseas and need to make a large transfer in the next 14 days to settle an investment ...

Posted by DanaeC DanaeC
Message 2 of 5 426 Views

Hi @prabuw, thanks for your enquiry. There are a couple of different ways in which you can initiate a transfer - if the funds are going to an international account, this previous post outlines the ways that this can be completed. If this will be classified as a "Pay Anybody" transfer, you will be able to transfer up to $20K per day, if you are registered with the SMS Code security, and have your phone on roaming to receive these messages. If this is not an option, your maximum online daily transfer limit is $5K.

Alternatively, you will be able to complete a RTGS form, to process a Real Time Gross Settlement if this is a domestic transfer. The form does state International Transfer Form, however the required details are the same. You will be able to disregard the SWIFT Code and Exchange Rate details. The completed form can be sent to IMT.Retail@bankwest.com.au for action within 2 - 3 business days.

 

Hope this helps!

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Re: Based overseas and need to make a large transfer in the next 14 days to settle an investment ...

Posted by prabuw prabuw
Message 3 of 5 424 Views

 

It will be domestic transfer, so I will use the RTGS form. 

 

Thanks DanaeC!

 

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Re: Based overseas and need to make a large transfer in the next 14 days to settle an investment ...

Posted by peterlazaroo peterlazaroo
Message 4 of 5 233 Views

Is there a limit on RTGS?

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Re: Based overseas and need to make a large transfer in the next 14 days to settle an investment ...

Posted by DanaeC DanaeC
Message 5 of 5 231 Views

Hi @peterlazaroo, great question! There is no limit on an RTGS transfer amount, however if you are completing the form remotely (ie not in store over the counter) you will be contacted over the phone prior to the funds being sent. Thanks!

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