Telegraphic transfers (TT) will be processed every Tuesday and Friday as long as the voucher has been approved in ES Financials by close of business the prior day. The 'schedule due' date is the date when the payment is required. Telegraphic transfers, in most cases, the funds will be deposited in the recipient bank account within 2 days. Depending on the country being remitted to, this timeframe can be considerably longer.
Telegraphic transfers, processed in the Tuesday and Friday runs, will incur a charge of $15. Note: AUD Telegraphic transfers will incur a charge of $30.
Telegraphic transfers (or wires) are now captured in ES Financials and details are updated via Vendor Maintenance.
Please ensure that the new or amended vendor has the following details:
- Beneficiary bank 'street' address (not PO address);
- When issuing Euro wires or any currency to an EU area account, you must include the IBAN number;
- Please ensure that the beneficiary bank details are detailed in the comments field as clearly as possible - in particular we need at a minimum:
- Full bank name
- Full bank account/IBAN
- Full bank street address including the bank city and the bank country
- Bank code (if available)
- Branch number (if available)
Please double check the swift number, if the swift code is not correct the payment will be delayed. If you do not have the correct swift code then you can use a 'routing' number. This is a 9 digit number that the payees bank should be able to provide.
Urgent telegraphic transfers
Requests must be made to financial operations senior staff, by a senior finance manager and will be considered on a case by case basis. Urgent telegraphic transfers will incur additional charges.
Minimum telegraphic transfer amount
Although there is no minimum amount set in the ESP payments system, areas are asked to please consider not sending telegraphic transfers for amounts less than $250 Australian. There may be charges by the beneficiary bank which negate the payment. Please note that the accounts payable system does not consolidate TT's for payment like it does for drafts, EFT and cheques. Please consider using drafts or the ANU Visa purchase card as an alternative.