How to Receive an International Transfer in Australia

What You Need to Receive Money from Overseas

When someone abroad wants to send you money, they will need several pieces of information to route the funds to your Australian bank account. Missing or incorrect details are the most common reason for delayed or failed international transfers.

This guide covers exactly what to provide, how to find each detail, and what to do if something goes wrong.

Required Information for Incoming International Transfers

To receive an international wire transfer into your Australian bank account, you will generally need to provide the sender with:

1. Your Bank's SWIFT Code (BIC)

The SWIFT code identifies your bank in the international banking network. It is 8 or 11 characters long and consists of the bank code, country code, location code, and optionally a branch code.

How to find it: - Search on BSBFinder's SWIFT Code Lookup - Check your bank's website under "international transfers" or "receiving money" - Call your bank directly

Common Australian SWIFT codes:

Bank	SWIFT Code
Commonwealth Bank	CTBAAU2S
Westpac	WPACAU2S
ANZ	ANZBAU3M
NAB	NATAAU33

2. Your BSB Number

Your BSB (Bank-State-Branch) number is a 6-digit code that identifies the specific branch associated with your account. While the SWIFT code gets the money to the right bank, the BSB routes it to the correct branch internally.

How to find it: - Check your bank statement or online banking - Use BSBFinder to look it up by bank and location - It is printed on your debit card (some banks)

3. Your Account Number

Your individual account number, typically 6 to 10 digits long. Make sure to include any leading zeros.

4. Your Full Name

The name on your bank account, exactly as it appears. Mismatched names can cause delays or the transfer being returned.

5. Your Bank's Full Name and Address

Some international transfers require the full legal name of your bank and the branch address. For example:

Commonwealth Bank of Australia
48 Martin Place
Sydney NSW 2000
Australia

Does Australia Use IBAN?

No. Australia does not use the IBAN (International Bank Account Number) system. If the sender's bank asks for an IBAN, explain that Australian banks use BSB + account number instead.

Some senders may encounter systems that require an IBAN. In this case, they should contact their bank to explain that the destination country (Australia) does not use IBAN and provide the SWIFT code, BSB, and account number instead.

Step-by-Step: Receiving an International Transfer

Step 1: Gather Your Details

Collect your SWIFT code, BSB number, account number, and the bank's full name and address.

Step 2: Send Details to the Sender

Provide all details in a clear format. Here is a template you can copy and send:

Bank Name: [Your Bank's Full Name]
SWIFT/BIC Code: [8 or 11 character code]
BSB Number: [XXX-XXX]
Account Number: [Your account number]
Account Name: [Your full name as on the account]
Bank Address: [Branch address]
Country: Australia

Step 3: Ask About Fees

Check with your bank whether you will be charged a fee for receiving the transfer. Most Australian banks charge $10 to $15 for incoming international wires, though some accounts waive this fee.

Also ask the sender to select "OUR" fee option if available, which means the sender pays all fees. The alternative -- "SHA" (shared) or "BEN" (beneficiary) -- means intermediary bank fees will be deducted from the amount you receive.

Step 4: Wait for the Transfer

International wire transfers typically take 2 to 5 business days. The timeframe depends on:

• The sending country and their banking system
• The number of intermediary banks involved
• Time zones and public holidays in both countries
• Whether additional compliance checks are required

Step 5: Check the Received Amount

The amount you receive may be less than what was sent due to:

• Intermediary bank fees: Each bank in the chain may deduct $10 to $30
• Receiving bank fee: Your Australian bank's incoming wire fee
• Exchange rate: The conversion rate applied by the sending bank

Common Issues and How to Fix Them

Transfer is Delayed

If more than 5 business days have passed:

1. Ask the sender for the transaction reference number or SWIFT confirmation
2. Contact your bank with this reference and ask them to trace the transfer
3. Check for any notifications from your bank requesting additional information

Amount Received is Less Than Expected

This is normal for SWIFT transfers. Intermediary banks and your receiving bank each deduct fees. If the difference seems too large, ask your bank for a fee breakdown.

Transfer Was Returned

Transfers are typically returned when:

• The SWIFT code or BSB was incorrect
• The account name did not match the account number
• Your bank flagged the transfer for compliance review
• The sending bank used an outdated SWIFT code

Contact your bank to find out the specific reason and correct the details for a re-send.

Bank Asks for Additional Documentation

For large incoming transfers (often over $10,000 AUD), your bank may ask you to provide:

• The purpose of the transfer
• Supporting documentation (invoice, contract, or gift declaration)
• Identification verification

This is standard procedure under Australian anti-money laundering (AML) regulations. The transfer will be released once the documentation is provided.

AUSTRAC Reporting Requirements

Under Australian law, international transfers of $10,000 AUD or more are automatically reported to AUSTRAC (Australian Transaction Reports and Analysis Centre). This is a routine regulatory requirement and does not mean anything is wrong with your transfer.

You do not need to do anything extra -- your bank handles the reporting automatically.

Cheaper Ways to Receive International Transfers

Traditional SWIFT wire transfers are not the only option. If the sender has flexibility in how they send funds, consider these alternatives:

Online Transfer Services

Services like Wise allow senders to initiate transfers from their local bank and deliver funds directly to your Australian account. Benefits include:

• Lower fees for the sender (often under $5)
• Better exchange rates -- typically the mid-market rate
• No intermediary bank fees -- the full amount arrives
• Faster delivery -- often within minutes to 1 business day

The sender creates an account, enters your Australian BSB and account number, and sends the funds. No SWIFT code is needed since the service handles the international routing internally.

PayPal and Similar Services

PayPal and similar platforms allow international transfers but charge higher fees (typically 2-4% plus a currency conversion margin). These are generally more expensive than both bank wires and dedicated transfer services.

Summary

To receive an international transfer in Australia, you need your bank's SWIFT code, your BSB number, your account number, and your full name as it appears on the account. Australia does not use IBAN. Expect the transfer to take 2 to 5 business days via SWIFT, with fees potentially deducted by intermediary banks along the way. For a cheaper and faster alternative, the sender can use an online transfer service that delivers directly to your BSB and account number.