In order to send a SWIFT payment to AUSTRALIA it is highly recommended to meet the following recommendations:
- AUD is a freely traded currency for both onshore and offshore clearing.
- Include city, state, country and postal code for the ordering customer’s and beneficiary's address. P.O. Box numbers are not permitted.
- Australian banks are identified by a 6-digit Bank State Branch (BSB) number where the first two digits specify the bank, the third digit specifies the state, and the last three digits specify the branch (e.g. 112-908). BSB numbers must be included in the ordering details (for payments out of Australia) and beneficiary details (for payments into Australia). Refer to the Australian Payments Clearing Association website (www.apca.com.au) for list of current BSBs.
- Banks are required to report to the local regulator, AUSTRAC, on any international funds transfers to or from Australia in any currency including those transactions paid through an intermediary bank. For more information on bank reporting regulations, refer to the AUSTRAC website www.austrac.gov.au
For the following financial institutions in AUSTRALIA you can find a list of their correspondent banks with the currencies and nostro accounts. Also you will find an instructions how to track the payments and other useful information which will help you to send/receive a SWIFT funds transfer or investigate a status of existing payment.