Everyone, I think this will explain all to do with the International Transfers and is from the CBA in Australia
You have entered a secure area within NetBank for International Money Transfers (IMTs). Here you can send money overseas to accounts held at other banks and financial institutions. If you require assistance, please visit our FAQs.
To begin you will need:
Sufficient available funds in your account.
Beneficiary's name, address, account number and overseas bank details.
Payment details such as the amount and currency you wish to send.
Important Information
The charge to make an IMT with NetBank is AUD22.00. Please be aware that overseas banks may also charge the recipient a handling fee to deposit money into the recipient's account, and this amount will differ from bank to bank.
The normal processing time is 2 to 5 business days. However, this can take longer depending on the country the funds are sent to and its banking practices.
Minimum transfer amounts apply for funds to be sent overseas. You can view the amounts for each currency and country by clicking here.
For security reasons, NetBank times out after 5 minutes without activity.
IMPORTANT CHANGES TO NETBANK IMTs COMMENCING 8 DECEMBER 2006
NetBank IMTs being sent to some countries in Europe require an International Bank Account Number (IBAN) and BIC (Bank Identifier Code). An IBAN is an account number that uniquely identifies the account that is to receive an IMT. A BIC is a number that identifies the beneficiary bank. The make up of an IBAN varies from Country to Country and can be up to 34 alphanumeric characters. An example of an IBAN and its components follows:
Do not enter hyphens or spaces (e.g. enter GB 12 CPBK 0892 9965 0449 91 as GB12CPBK08929965044991).
You will need to obtain the IBAN from the person that you are sending the NetBank IMT to as the Commonwealth Bank does not have this information. If the IBAN or BIC is missing or incorrect, a charge (which may be substantial) may be applied by the beneficiary bank and your IMT may be rejected. Beneficiary bank charges may be deducted from your payment or charged back to you. For more information on IBANs please click here.
Please read the International Money Transfer Terms and Conditions. By clicking the "Next" button I acknowledge that I have viewed and agreed to the International Money Transfer Terms and Conditions.
Now it does state that 2-5 days delivery of funds but I transfered some money to Chaing Mai the other day and was in the account at the other end in 3 hrs. I did the transfer via my Internet Banking.
I just had a look at the page where I had to enter account details and when you are doing that, there is one step in there that asks you to search for the BIC Code, you press the search button and is done automatically and gives you all the options.
You just then enter that in the registration page.
By the way, this was transfered to a Thai Bank Account from Australia.
Anyway hope that info answers some of the peoples queries
Always Borrow Money from a Pesimist. "They Never Expect it Back"
