Foreign Exchange Payment Options


Online telegraphic transfers

Online telegraphic transfers are available via internet banking. This new and highly secure service enables you to create and save payment templates for future re-use making the process of sending an international payment easier than ever before. In just one simple process, the funds are charged to your BOQ bank account and the payment is on it's way.  We can forward payments electronically to overseas parties in 30 currencies by telegraphic transfer. You will need to provide us with certain details about the beneficiary, their account and their bank. The attached guide will assist you and will also suggest the best currency to send to each destination. Most payments would be available to the beneficiary within 48 hours almost anywhere in the world. The exchange rate for a foreign currency payment is set at the time you authorise the payment to ensure you receive the most up to date rate available. 


In branch telegraphic transfers

We can forward payments electronically to overseas parties in 30 currencies by telegraphic transfer. You will need to provide us with certain details about the beneficiary, their account and their bank. The attached guide will assist you and will also suggest the best currency to send to each destination. Most payments would be available to the beneficiary within 48 hours almost anywhere in the world. Customers can initiate a telegraphic transfer at any of our branches or through our business banking centres. The exchange rate for a foreign currency payment is set at the time we make the payment to ensure you receive the most up to date rate available. Bank of Queensland branches can provide indicative rates on request. 


Drafts

A draft is an international bank cheque issued in a foreign currency. Drafts can be ordered in any of our branches and will be issued from our head office to the branch within 48 hours. Drafts are an economical method of making non urgent overseas payments. You simply post the draft to the payee.


Negotiation of overseas cheques

Travellers cheques can be cashed at any of our branches. Other foreign currency cheques may be able to be negotiated based on your account association.



Guide to importing and exporting   (PDF 644kb)

The Bank has developed an introductory guide to importing and exporting which covers some basic definitions and methods of payment, and highlights risks to be aware of.