Inbound Global Transfer (IGT)

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

How does an IGT work?
The remitter should send the funds in their own currency, and Western Union Business Solutions will convert them into Australian Dollars before forwarding to First Option Credit Union for credit to your account. Funds can be received in a range of currencies – click here for more details.

Why should I ask my sender to send money via IGT?

  • 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 – the transaction is completed as a local transfer
  • Peace of mind – you can be confident that payments are being handled by foreign exchange specialists with reliable systems

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

  1. Click on the "Receive IGT" button below
  2. Choose the country you are receiving funds from.
  3. Complete the relevant information in the online form and submit.
  4. You will be then presented with deposit instructions in PDF. Please save it for your reference and email it to your payee to follow payment instructions.
  5. 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 the “Payment Notes” in the bank’s reference field as specified in the PDF deposit instructions

In Australia, your Financial Institution has appointed Convera Australia Pty Ltd (ACN 150 129 749; AFSL 404092) (“Convera”), to assist it in fulfilling certain foreign exchange and payment services. These services are provided to you by your Financial Institution. Fees and charges may apply, please refer to the terms and conditions issued by your Financial Institution. Any advice provided by your Financial Institution 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.