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Inward Telegraphic Transfer

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Your options for receiving funds from overseas

When receiving funds to your LCU account from overseas you have two options. One, using our direct account details via Cuscal which are as follow:

Please note payment can only be accepted in AUD, all account details below are required.

Beneficiary Bank CUSCAL Limited
Beneficiary Bank Address 1 Margaret Street SYDNEY NSW 2000 AUSTRALIA
BSB 802841 – Laboratories Credit Union Ltd
Beneficiary Account Number Your 9-digit account number (don’t use membership number)
Beneficiary Name  Your account name

 Any missing details such as forwarding BSB or on Forward CU/Bank name, may result in the payment being returned.

Refer to our fees and charges brochure for current fees in relation to IPEX.

Or you can use our Inward Telegraphic Transfer service powered by Convera. 

Receive money from overseas with an Inward Telegraphic Transfer?

An Inward Telegraphic Transfer (also known as an “Inward Wire”) is an electronic transfer of funds directly credited to your account from an overseas remitter. In most cases, a TT is the quickest way to receive funds from abroad (a TT will normally take one-to-three business days to be credited to your account, although this can never be guaranteed).

How does it work?

The remitter should send the funds in their own currency, and Convera will convert them into Australian Dollars before forwarding to Laboratories Credit Union for credit to your account. Funds can be sent in a range of currencies and will be received in Australian Dollars.

Why should I ask my sender to send money via this service?

  • Better value for you - you are not charged a beneficiary deduct fee, so you will receive the full amount of your incoming payment.
  • Better value for senders - no fee is charged by Convera to process your payment.
  • Peace of mind - you can be confident that their payments are being handled by foreign exchange specialists with reliable systems ready to deliver your payment fast.
  • Wide range of currencies - Wide range of currencies - click here to view the currency list.

What do I need to do to receive money to my account?

  • Click on the following link – Receive money from overseas
  • Choose the country you are receiving funds from.
  • Complete the relevant information in the online form and submit.
  • You will then be presented with deposit instructions in a PDF file. Please save it for your reference and email it to your payee/ follow payment instructions.
  • Ask the sender to :
    • Present these instructions to their bank when sending the payment to you
    • Deposit the amount into the dedicated account as stated in the instructions in local currency and not in AUD
    • Instruct bank teller to include payment note CAU01931-FI289270 in the bank’s reference field as specified in the PDF deposit instructions


If you have any questions, please contact us.

Laboratories Credit Union has entered into contractual arrangements with Convera Australia Pty Ltd (ACN 150 129 749; AFSL 404092), to assist it in fulfilling certain foreign exchange and payment services, including telegraphic transfer. The relationship relating to the services described is solely between you and Laboratories Credit Union. Fees and charges may apply, please refer to the terms and conditions issued by Laboratories Credit Union. Any advice provided by Laboratories Credit Union is general in nature and does not take into account your personal objectives, financial situation or needs. Convera does not give you any advice, general, personal or otherwise. This communication has been prepared solely for informational purposes and does not in any way create binding obligations. No representations, warranties or conditions of any kind, express or implied, are made in this communication. 
Receive Money EnquireCall 02 9859 0585