What foreign exchange services does BankVic offer?
Through our agency agreement with American Express, BankVic can offer our members a range of foreign exchange services, including:
What is a telegraphic transfer?
A telegraphic transfer (TT) is a secure, convenient and electronic means of depositing funds directly into an account overseas. TTs are available in over 100 currencies.
What is a foreign currency draft?
A foreign currency bank draft can be issued in any of sixteen (16) major currencies and offers a secure way to send small amounts of money abroad.
How do I order foreign cash?
Why should I take foreign cash?
Whether you are travelling to Europe, Asia or another continent, foreign cash will provide you with the convenience to purchase items as soon as you arrive at your destination. Some items can only be purchased with cash at the destination. Foreign cash also allows you to avoid potential problems if your credit or debit card does not work at the EFTPOS terminal or an ATM.
What foreign cash currencies and denominations can I buy?
American Express has over 60 foreign currencies available for you to order. *All currencies and denominations are subject to availability at the time of your order. Please see some of these currencies listed below:
|Papua New Guinea||Kina||5,10,20,50|
** The following countries use Euro: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain
What is the minimum or maximum ordering limit for foreign cash?
BankVic advise that a minimum of the equivalent of AUD$250 (for the total order) applies. You can order less than AUD$250 but you will incur a small service fee of $30 for such an order.
The maximum ordering limit is AUD$10,000.
Can I buyback or convert foreign cash at a BankVic branch, if so is there a limit?
Yes, if you are a BankVic member. There is no minimum limit when BankVic buys back foreign cash, however the maximum limit is AUD$5,000 (or equivalent) per member per week.
BankVic will not accept foreign coins or mutilated, worn or very poor quality notes.
How do I pay for my order?
When ordering online, you can pay for foreign currency via BPAY. If you call BankVic or visit a branch to place an order, one of our friendly consultants will process the order from your account.
I am not a member of BankVic, can I still purchase foreign cash?
Yes. However if you aren’t a member you can only purchase foreign cash online, not from a BankVic branch. Foreign cash buy back or conversion is also restricted to members only.
What happens if the currency I request is unavailable?
BankVic will call you and advise you if a currency is not available and you may advise an alternative currency.
Where can I collect my order from?
You can collect your order from any BankVic or American Express branch you nominate online.
When can I collect my order?
You can collect your order within 48 hours, that is two (2) business days. When you place your order online and select your preferred branch for collection, the site will indicate the appropriate collection date. If you place your order and submit payment via BPAY before 2pm AEST we will meet your indicated collection date of the next day. If your payment is received after this time please add an extra business day to your collection date.
Can I send someone else to collect my order?
No. For security reasons, BankVic will not issue your order to a third party under any circumstances.
Will I need to produce any identification when collecting the order?
Yes. The order will only be released to the person whose name appears on the order.
You will be required to bring your online order reference number that you receive when your order is confirmed as well as the following forms of identification;
For orders under AUD2,000.00
For orders over AUD2,000.00
You will be required to show two forms of identification:
What fees will I be charged?
Stops, cancellations, dishonours and traces may incur fees – see Fees and Charges (PDF) for details.
Do you charge to buy back or convert foreign currency I have not used?
Yes. If you need to return your unused currency, visit any BankVic or American Express branch and we will buy back your currency at the current day's exchange rate. A standard fee will be charged – see Fees and Charges (PDF) for details.
Can I order foreign currency at the branch?
Is it secure to order foreign currency online?
Yes. American Express provides advanced encryption and firewall technology to ensure your payments are secure.
The information contained in this document is general and has been prepared without taking into account your objectives, financial situation or needs. You should read the Product Disclosure Statement (PDS) and consider the appropriateness of international payments in relation to your individual requirements. With regard to the travellers cheques please read the Traveller's Cheques Disclosure Document and consider the appropriateness of travellers cheques in relation to your individual requirements before purchasing American Express Travellers Cheques. BankVic is acting as an agent of American Express International Inc ABN 15 000 618 206 AFSL 237996 in the provision of travellers cheques, foreign currency cheque and cash conversion, international telegraphic transfers and drafts.
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