A convenient means of forwarding funds overseas, commonly used by businesses engaged in import or export transactions, including those sending money overseas to relatives, friends or business associates.
A message is forwarded by the bank instructing an overseas correspondent to pay a named party (beneficiary) a specified sum of money, by order of the remitter (applicant).
Arrangements can be made throughout the world with correspondent banks, at their own overseas branches, to facilitate the payment.
Quick and safe, the beneficiary generally receives payment within 24 hours of dispatch, in local or foreign currency.
Find out more by visiting your local ANZ branch or call
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