Tranzfers

Tranzfers will often saving you over 1% compared to your  bank plus they have a one set fee policy £7 depending on currency exchange rate which they charge for money transfers from the UK, Australia, Canada, New Zealand and Singapore. Compared to your bank who will charge around £25 or AUD $35 for a similar transaction.

•      AU$15
•      CA$15
•       €10
•       GB£7
•       HK$60
•       NZ$12
•       SG$15
•       SEK20
•       US$5

With Tranzfers you can see the exchange rate that you will receive, or wait for the rate to hit a certain limit before transferring online. With the banks, they cannot tell you the exact rate you will receive, until after the funds are sent.  Tranzfers secure encrypted online service is of the highest standard. Check the progress of your transfer whenever you like – 24/7.

How long will it take to transfer my funds from the UK?

Once Tranzfers have received your cleared funds into our British Pound account and have converted them, Tranzfers will make the payment immediately to the account you have nominated. Your funds will generally appear in your account the following day. Funds usually take 3 business days to clear into our British Pound account using internet banking (BACS) or 1 business day using CHAPS (UK Same Day Payment).

How long will it take to transfer funds from Australia to the UK?

As soon as Tranzfers have received your cleared funds in one of our Australian accounts, Tranzfers can convert to British Pounds and deposit to your nominated account. However, due to the slower bank clearing times in the UK, you are looking at another 2 to 3 business days before the funds are cleared in your account. This is dependent on your bank rather than on Tranzfers.

What are the fees for Tranzfers?

The fees are currency based from £7. Tranzfers guarantee no receiving bank fees in Australia, the UK and New Zealand. In other countries Tranzfers minimise the chances that a receiving bank fee is charged by sending the money to your account from within that country.

How is it that you can charge such a low fee and still have such great rates?

For years now the banks have been charging astronomical rates and fees for sending funds overseas. All we are doing is making it more affordable to get your hard earned money home. The rates we offer are between the rates offered by the banks and the interbank rate (the wholesale rate amongst banks when dealing in packages of $5 to $10 million). We are effectively undercutting the banks.

How do you determine the exchange rate?

The interbank rates that are on the site are updated every 30 seconds and are sourced from 10 different sources around the world. To determine the Customer rate, which you are dealing at, Tranzfers add or subtract our margin to/from the Interbank rate. Tranzfers work with smaller margins than banks and other providers which is why Tranzfers can give you such competitive rates.

What methods of payment can I use to transfer the funds to your account?

Tranzfers need to receive the funds electronically. This gives you a few choices such as internet banking, phone banking or going to a branch and asking them to do an electronic transfer direct from your account to ours. Tranzfers do not accept cash, cheques or credit card payments.

Can I send money to a credit card?

Yes, you can send money to most credit cards in Australia or New Zealand, but not to UK, Singaporean, South African or Canadian based credit cards. You must select the credit card option when setting the beneficiary up in the system as this will change the account format and allow you to enter the credit card number. Please note that we do not accept payment from a credit card.

Which countries can I send funds between?

Currently you can send funds between the UK, Australia, New Zealand, Singapore and Canada and funds to South Africa. New currencies and destinations are being added all the time. If you have a particular currency you would like added then please send us an email so we can add you to our notification list.

What is the minimum amount that can be transferred on a deal?

The minimum amount is A$100, NZ$100 and £50.

What are the different bank account formats for each country?

Australia BSB (normally 6 digits) and account number (varies in length depending on the bank)

Canada Transit/FIF (Branch) Code (normally 5 digits) and account number (varies in length depending on the bank)

Europe For deals to European Banks we require the IBAN number, Swift (BIC) code of the bank and account number (varies in length depending on the bank).

New Zealand Bank and branch number (6 digits in total, 2 for the bank and 4 for the branch), account number (7 digits) and suffix (either 2 or 3 digits)

Hong Kong Branch Code (normally 6 digits) and account number (varies in length depending on the bank)

Singapore Branch Code (normally 6 digits) and account number (varies in length depending on the bank)

South Africa Branch Code (normally 6 digits) and account number (varies in length depending on the bank)

UK Sort code (6 digits) and account number (varies in length depending on the bank)

USA ABA or routing number (normally 9 digits) and account number (varies in length depending on the bank).