Telegraphic Transfer

Features and benefits

• Facility is accessible to both personal and business customers.
• Safest & fastest means of transferring money from PNG to overseas (outward), or vice-versa (inward).
• Fixed inward and outward service fee.
• Beneficiary can receive funds within 24 hours (or longer depending on the country).
• You can pay imports, tuition fees, travel expenses, family support etc. 

Applying for an Outward Telegraphic Transfer

In branch

• You must be an existing customer.
• Complete a Requisition for Outward Payment Form/TT Application form and provide supporting documentations.
• PGK 5,000 equivalent or less is processed same day. If exceeded, currency order is placed in the FX Order book for Treasury for consideration of FX allocation. 

Online

Corporate Online (COL) and Internet Banking (IB):

• Must be an existing customer.
• Must be registered to Internet Banking (for personal and business). Visit your nearest branch to register.
• or Must be registered to Corporate Online (for business / corporates). Visit your branch or see your Relationship Manager to register.
• Log into IB or COL.
• Select “Wire Transfer” on IB, or “Overseas Payments” on COL, and perform your transaction.
• Supporting documents (invoices, BPNG forms etc) must be provided to the branch attention to the “International Service Centre – COL/IB Payments” or email: pngcolibpayment@westpac.com.au
• Cut-off time each business day is 2pm.

Inward Telegraphic Transfer:

• Must have an active account.
• Must provide documentation from remitter to the branch or via email for funds to be paid.
• Cut-off time each business day is 3pm.

Important Information:

You cannot exceed the threshold for overseas remittance set by Bank PNG (currently PGK 500,000.00 annually) without first obtaining a Tax Clearance Certificate (TCC) from the Internal Revenue Commission. Should you approach the threshold, we reserve the right to stop further transactions until a TCC is provided.