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Procedure

Please Note:
  • For all EFT or Internet (Online) transfers, remittances will be executed only after availability of clear funds in our account.
  • Please keep in mind that all such transfers if made after 6:00pm (Sydney Time), there will be a delay of further one business day in receiving clear fund in our accounts.
Procedure to send money overseas through Sydney Forex

Sydney Forex offers an easy, simple and hassle free procedure to send money overseas to your loved-ones and business associates.

Please follow some easy steps as mentioned below.

EXCHANGE RATE
  1. Sydney Forex displays their indicative exchange rates of various currencies on daily basis. Please check our web-site for the exchange rate of currency in which you want to send money overseas.
  2. The exchange rates as displayed on our web-site will be applicable only if you deposit the equivalent local currency amount along with fees and charges (if any) in our bank account and send the application form duly filled through SFPL on-line system.
  3. You may also book your exchange rate on telephone and deposit equivalent local currency amount along with fees and charges (if any) in our bank account ASAP.
  4. However, if you do not book your exchange rate, then the rate prevailing at the time when received your application and clear funds in our account will be applied.
  5. In order to avoid any misunderstanding, or loss due to exchange rate fluctuation, we advise you to always call on us and book your exchange rate. After booking the rate, please deposit the amount in equivalent Australian Dollar along with fees in our account and submit the application form with complete details.
APPLICATION
  1. You are required to fill an application form to send money overseas.

  2. The application form may be submitted in the following manner.
    • Visit our office, fill-up application form and submit in person, or
    • Through our web-site.

  3. There are four parts of our application form (A) Transaction details (B) Sender details (C) Beneficiary details (D) Payment details to beneficiary.

    (A) Transaction details
    In this section you need to provide following information.
    • Currency and the Amount in Foreign Currency
    • Exchange Rate
    • Equivalent amount in A$ (Local currency)
    • Fees and Charges(if any)
    • Total amount in local currency deposited in our account

    (B) Sender Details
    In this section, please provide your personal details as follows.
    • Full Name
    • Acceptable/valid photo ID number, expiry date and date of birth
    • Complete residential address (NO PO Box)
    • Contact numbers (Home phone, mobile phone, email address)
    • Profession/occupation
    • Purpose of remittance
    • If a person sending money on behalf of a third person or company, association or club etc, the full particulars of the person and the name, address and ABN of the company, association or club is also required in addition to the details of the person itself.
    • If the amount of remittance is A$10,000 or more, we may ask further details of the sender, such as source of funds, copy of any document or invoice relevant to the remittance etc.

    (C) Beneficiary Details
    In this section, please provide beneficiary details as follows.
    • Full Name
    • ID number and expiry date (if required)
    • Complete residential address (NO PO Box)
    • Contact numbers (Home and/or mobile phone)
    • For deposit in beneficiary account, the account name, account number, bank and branch details are required. Some time for certain countries, bank swift code, routing code or IBAN number is also required.

    (D) Payment details
    Payment to the beneficiary is made in three different manners.
    1. Cash Payment
    2. Home delivery- Cheque/draft only
    3. Account deposit
  1. Cash Payment

    If the mode of payment is selected as cash, the sender should inform location and city convenient to the beneficiary to collect the payment. Subject to arrangement in place, Sydney Forex will process the remittance and provide a PIN number or security code to the sender in person, or email for onward submission to the beneficiary. Beneficiary will collect the payment in cash from the pre-arranged location by disclosing the PIN or Security code and proper identification. There are certain cash payment limits per transaction are applied country wise. Please check with our staff the cash payment limits if your amount is reasonably large.

  2. Home delivery- Cheque/draft only

    In certain countries, the facility to deliver cheque/draft of the remittance amount to beneficiary home address by courier or mail is available. Please check further details before you select the captioned mode of payment.

  3. Account deposit

    Sydney Forex have arrangement in place through their overseas correspondents, to make payment to the beneficiaries in applicable countries in their accounts with any bank / branch. For on-line account the payment is made in 24-72 hours, whereas, for other accounts, payment is made by our agent bank by cheque/draft and sent to the beneficiary bank by courier. In this process it takes 3 to 5 days to receive funds by the beneficiary in his account. Please check the time frame of your payment from the staff of Sydney Forex before concluding transaction. (Payment to some Bank accounts in some countries may take longer in some cases)

PROCESSING

We shall process your application only if it is duly filled in, and a copy of your proper identification is provided. We shall also check the receipt of right amount in clear funds in shape of cash or deposit in our account by EFT or internet transfer.
Subject to completion of all the formalities, we stand committed to process your remittance transaction in the most expeditious manner.
We store your and beneficiary details in a safe and secured manner and strictly observe the privacy policy as per rules.

DISCLAIMER

Sydney Forex process remittance applications with due care and in efficient manner. The company and its employees do not accept any liability for loss or damage which any person may suffer arising from mutilation, delay or wrong transmission of message and the remittance is being made at the sole risk and responsibility of the remitter.